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.
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 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. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $34.5 billion in 2023. North America was the largest region in the global anesthesia and respiratory devices market, accounting for 49% of the market in 2019. Asia Pacific was the second largest region accounting for 19% of the global anesthesia and respiratory devices market. Eastern Europe was the smallest region 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. Researchers at the University of California and Khine Labs are investing in major research projects to develop comfortable wearables for patients suffering from respiratory diseases
The major players in the global anesthesia and respiratory devices market are Resmed Inc., General Electric Company, Koninklijke Philips N.V., Cardinal Health, Inc., Medtronic Plc
The countries covered in the global anesthesia and respiratory devices market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The global anesthesia and respiratory devices market is segmented:
1) By Type, Respiratory Devices And Equipment (Therapeutic And Diagnostic), Anesthesia Machines, Anesthesia Disposables, Respiratory Disposables
2) By End User, Hospitals And Clinics, Diagnostic Laboratories, Others
3) By Type of Expenditure, Public, Private
4) By Product, Instruments/Equipment, Disposables
