2024-2033 Global Anesthesia And Respiratory Devices Market Outlook: Projected Size and Growth Rate
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Anesthesia And Respiratory Devices Market Growth Forecast 2024-2033: What’s the Expected Rate?
In recent times, the market size of anesthesia and respiratory devices has seen a swift expansion. It’s projected to increase from $57.98 billion in 2023 to $64.96 billion in 2024, indicating a compound annual growth rate (CAGR) of 12.0%. The surge observed in the past can be linked to factors such as the rise in respiratory illnesses, the COVID-19 pandemic, a jump in the count of surgical operations, and a sturdy economic surge in the developing markets. Added factors include an increase in healthcare spending and an expanding elderly populace.
The market size of anesthesia and respiratory devices is predicted to experience swift expansion in the coming years, reaching $99.53 billion in 2028 with a compound annual growth rate (CAGR) of 11.3%. Factors contributing to this surge during the projected period include the rising incidence of obstructive sleep apnea, technological progression, growing tobacco smoking habits, escalating healthcare expenditure, and a swelling elderly population. The period of the forecast will be marked by trends such as the production of smart inhalers, construction of PCLC devices, increased focus on research and development of wearable respiratory devices, introduction of new innovative products, and manufacture of portable respiratory tools, among others. Strategies adopted by key players in the anesthesia and respiratory devices market involve investing in expanding their operations via innovative product launches, and through acquisitions or mergers to augment their service offerings.
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What Factors Are Impacting the Growth of the anesthesia and respiratory devices Market?
The burgeoning incidence of respiratory ailments is projected to stimulate the growth of the anesthesia and respiratory devices market. Health issues related to breathing and impairment of gas exchange owing to the impact on the lungs and airway systems are referred to as respiratory diseases. Anesthesia and respiratory apparatus play a critical role in treating illnesses like tuberculosis by facilitating necessary medical procedures, ensuring the comfort and safety of patients, and helping in disease prognosis and treatment. As per the Global Tuberculosis Report by the WHO released in October 2022, worldwide, the incidence of tuberculosis was estimated to be 10.6 million cases with 134 cases per 100,000 population in 2021, marking a 4.5% increase from 10.1 million in 2020. The highest number of TB cases were detected in Southeast Asia, contributing to 45% of the total, followed by Africa, accounting for 23% of the cases in 2021. Consequently, the escalating prevalence of respiratory ailments is expected to drive the growth of the anesthesia and respiratory devices market further.
What Are the Fundamental Segments in the Anesthesia And Respiratory Devices Market?
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, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments/Equipment, Disposables
5) By Gender: Male, Female
What Trends Are Shaping the New Direction of the Anesthesia And Respiratory Devices Market?
The demand for mobile and wearable medical devices is on the rise with companies in the anesthesia and respiratory devices market creating such devices for enhanced patient monitoring. Typically worn on the torso, wearable respiratory devices aim to determine a patient’s breathing rate by monitoring the chest wall’s movements. These come in varied styles such as compact sensors, straps, and devices resembling adhesive bandages. Mostly, these devices relate to specific smartphone apps that collect and analyze data which is then stored in cloud data repositories. The main focus lies on significant fields of respiratory health care like pulse oximetry, pulmonary ventilation, air quality evaluation, and activity tracking. Such wearable respiratory devices ease the burden of healthcare providers, heighten diagnostic efficiency, bring down the cost of regular patient check-ups and ensure better comfort for patients. For example, significant research efforts are being invested by the University of California and Khine Labs to create comfortable wearable devices for patients with respiratory conditions.
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Which Regions Are Making a Mark in the Anesthesia And Respiratory Devices Market Growth?
Asia-Pacific was the largest region in the global anesthesia and respiratory devices market in 2023. North America was the second largest region in the global anesthesia and respiratory devices market. Eastern Europe was the smallest region in the global anesthesia and respiratory devices market. The regions covered in the anesthesia and respiratory devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Anesthesia And Respiratory Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the anesthesia and respiratory devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Anesthesia And Respiratory Devices Market Include
1. Anesthesia And Respiratory Devices Market Executive Summary
2. Anesthesia And Respiratory Devices Market Segments
3. Anesthesia And Respiratory Devices Market Size And Template Market Growth Rate
4. Key Anesthesia And Respiratory Devices Market Trends
5. Major Anesthesia And Respiratory Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Anesthesia And Respiratory Devices Market
26. Top Anesthesia And Respiratory Devices Companies
27. Anesthesia And Respiratory Devices Market Opportunities And Strategies
28. Anesthesia And Respiratory Devices Market, Conclusions And Recommendations
29. Appendix
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