Anesthesia & Respiratory Devices Market Size, Share & Trends Analysis Report By Product (Anesthesia Devices, Respiratory Devices), By Region, And Segment Forecasts, 2019 - 2026
As per the report by Grand View Research, Inc., the Anesthesia and Respiratory Devices Market was valued at USD 29.8 billion in 2018 and is estimated to observe a CAGR of 6.6% throughout the forecast period (2019-2026). The demand for anesthesia and respiratory devices is rising on account of increasing occurrences of respiratory diseases, such as obstructive sleep apnea (OSA) and chronic obstructive pulmonary disease (COPD).
Increase in pollution level, surge in the number of surgical procedures, innovations regarding respiratory care devices, and rapid urbanization will drive the market in the forthcoming period. In addition, factors such as increase in tobacco consumption, growing aged population, and rising government support for launch and approval of these devices will boost the market growth in the years to come.
On the other hand, risks associated with diagnostic and therapeutic devices for neonates, presence of a large pool of undiagnosed population, and a low acceptance rate of new technologies are likely to hamper the anesthesia and respiratory devices growth in the forecast period.
In April 2018, B. Braun Medical Inc. declared to launch Clorotekal, which is a U.S. Food and Drug Administration (FDA) permitted anesthetics for spinal anesthesia. Such initiatives are estimated to drive the development of the anesthesia and respiratory devices in the forecast period.
As per the Australian Institute of Health and Welfare, 1 in 20 Australians, aged 45 and above was suffering from a chronic obstructive pulmonary disease (COPD). Furthermore, as per the World Health Organization (WHO), in 2016, approximately 251.0 million cases of COPD were registered, worldwide. Additionally, according to the National Health Service (NHS), nearly 1.2 million individuals are presently suffering from COPD in the U.K. The rising number of patients is anticipated to further add to the demand of anesthesia and respiratory devices.
North America has been at the forefront with regards to anesthesia and respiratory devices and will continue to rule the roost in the years to come on account of increasing acceptance of technologically advanced devices in the region. In addition, rising healthcare spending and increasing investments by the pharmaceutical companies will drive the anesthesia and respiratory devices industry.
Leading players operating in the anesthesia and respiratory devices market include B. Braun Medical Inc.; AirSep Corporation; BD; Medtronic; Getinge AB; Drägerwerk AG & Co. KGaA; GE Healthcare; Smiths Medical; Philips Healthcare; Masimo Corporation; and Teleflex Inc.
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https://www.grandviewresearch.com/industry-analysis/anesthesia-and-respiratory-devices-market
