Global Anesthesia And Respiratory Devices Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
1 Feb, 2021
The anesthesia and respiratory devices market consists of sales of anesthesia and respiratory devices and related services by entities that manufacture anesthesia and respiratory devices used in the diagnosis and treatment of respiratory diseases such as asthma, cystic fibrosis, and acute respiratory distress syndrome.
Global Anesthesia And Respiratory Devices Market Size And Drivers:
The global anesthesia and respiratory devices market is expected to grow from $22.9 billion in 2019 to $36.4 billion in 2020 at a compound annual growth rate (CAGR) of 58.9%. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $34.5 billion in 2023. The anesthesia and respiratory devices market witnessed significant growth mainly due to the COVID-19 outbreak. The fact that COVID-19 is essentially a respiratory ailment has boosted the market growth. There is an increased demand for respiratory devices such ventilators, nebulizers, pulse oximeters and spirometers since oxygen therapy is a major intervention for patients with severe COVID-19 infection, and this factor is contributing to the market growth. In order to compensate for lack of ventilators due to the huge demand and short supply, hospitals have started to convert anesthesia machines into breathing machines.
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Trends In The Global Anesthesia And Respiratory Devices Market
The preference for wearable and portable medical devices is increasing and companies in the respiratory devices market are developing wearable respiratory devices to improve patient monitoring. Wearable respiratory devices are mainly worn on the torso and are used to calculate the patient’s breathing rate by measuring movements of the chest wall. They are available in various forms such as small dimensional sensors, belts, and band-aid like devices. These devices are usually connected to specialty smartphone apps that capture and interpret data and store the data in cloud data repositories focusing on main areas of respiratory healthcare including pulse oximetry, pulmonary ventilation, air quality assessment, and activity tracking. Wearable respiratory devices reduce the workload of healthcare providers, improve the efficiencies of diagnostics, reduce costs incurred by patients in regular checkups and improve patients’ comfort.
Global Anesthesia And Respiratory Devices Market Segments:
The global anesthesia and respiratory devices market is further segmented based on type, end user, type of expenditure, product and geography.
By Type: Respiratory Devices And Equipment (Therapeutic And Diagnostic), Anesthesia Machines, Anesthesia Disposables, Respiratory Disposables.
By End User: Hospitals And Clinics, Diagnostic Laboratories, Others.
By Type of Expenditure: Public, Private.
By Product: Instruments/Equipment, Disposables.
By Geography: The global anesthesia and respiratory devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America was the largest region in the global anesthesia and respiratory devices market, accounting for 49% of the total market.
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Anesthesia And Respiratory Devices Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides anesthesia and respiratory devices market overviews, analyzes and forecasts market size and growth for the global anesthesia and respiratory devices market, anesthesia and respiratory devices market share, anesthesia and respiratory devices market players, anesthesia and respiratory devices market segments and geographies, anesthesia and respiratory devices market’s leading competitors’ revenues, profiles and market shares. The anesthesia and respiratory devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.