How is the Anesthesia And Respiratory Devices Market Poised for Growth: Trends and Opportunities Through 2034
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How has the anesthesia and respiratory devices market size evolved in recent years?
Recent years have witnessed a swift expansion in the market size of anesthesia and respiratory devices. Expected to surge from $33.63 billion in 2024 to $38.29 billion in 2025, the market will exhibit a compound annual growth rate (CAGR) of 13.8%. The historical growth in this sector can be credited to several factors, including a rise in respiratory diseases, the advent of the COVID-19 pandemic, an increase in surgical procedures, robust economic advancement in evolving markets, increased investment in healthcare, and an expanding elderly population.
What are the predictions for the anesthesia and respiratory devices market size in the coming years?
In the coming years, the market size for anesthesia and respiratory devices is projected to witness substantial expansion, growing to $63.82 billion in 2029 with a compound annual growth rate (CAGR) of 13.6%. Factors contributing to this rise during the anticipated period include the growing prevalence of obstructive sleep apnea, advancements in technology, increased tobacco usage, an upsurge in healthcare expenditure, and a growing elderly population. The forecast period is likely to notice key trends such as the production of smart inhalers, investment in the research and development of wearable respiratory devices, the introduction of innovative products, production of portable respiratory devices, among other trends.
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What key factors are fueling the growth of the anesthesia and respiratory devices market?
The rise in respiratory disorders is predicted to fuel the expansion of the anesthesia and respiratory devices market. Respiratory diseases are health problems that disrupt breathing and the exchange of gases, impacting the functioning of lung and airway systems. Anesthesia and respiratory gear are at the core of treating these ailments, such as tuberculosis, as they enable essential medical procedures, guarantee patient well-being and help in disease control and treatment. For instance, as per a report by “The CDC Centers for Disease Control and Prevention”, a US-based national public health institution in March 2024, the CDC documented 8,331 tuberculosis (TB) cases in the United States in 2022, which translates to an incidence rate of 2.5 cases per 100,000 people. An estimated 13 million people are believed to be living with latent TB infection in the country. As a result, the climbing incidence of respiratory illnesses is expected to drive the expansion of the anesthesia and respiratory devices market in the future.
How is the global anesthesia and respiratory devices market divided into key segments?
The anesthesia and respiratory devices market covered in this report is segmented –
1) By Type: Respiratory Devices And Equipment (Therapeutic And Diagnostic), Anesthesia Machines, Anesthesia Disposables, Respiratory Disposables
3) By Type Of Expenditure: Public, Private
4) By Product: Instruments Or Equipment, Disposables
5) By Gender: Male, Female
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Subsegments:
1) By Respiratory Devices And Equipment (Therapeutic And Diagnostic): Therapeutic Devices (Oxygen Therapy Devices, CPAP Or BiPAP Machines), Diagnostic Devices (Spirometers, Pulse Oximeters, Peak Flow Meters), Nebulizers
2) By Anesthesia Machines: Continuous Flow Anesthesia Machines, Portable Anesthesia Machines, Anesthesia Workstations
3) By Anesthesia Disposables: Anesthesia Masks, Endotracheal Tubes, Laryngeal Mask Airways (LMAs), Breathing Circuits
4) By Respiratory Disposables: Oxygen Masks, Ventilator Circuits, Filters And HME (Heat And Moisture Exchangers), Suction Catheters
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Who are the key firms paving the way for growth in the anesthesia and respiratory devices market?
Major companies operating in the anesthesia and respiratory devices market include Resmed Inc., Koninklijke Philips N.V., General Electric Company, Cardinal Health, Inc., Medtronic Plc, Fisher & Paykel Healthcare Corporation Limited, Draegerwerk AG, Teleflex Inc., Vyaire Medical, Inc., Smith Group Plc., Covidien Healthcare, Metran Co., Ltd., Siemens Healthcare, Opto Circuits, Roche, B. Braun, Melsungen, Masimo Corporation, Dixion, SunMed, Getinge Group, CapeRay, Centre for Rapid Prototyping and Manufacturing (CRPM), DISA Vascular, Sinapi biomedical, Ti-TaMED
Which trends are expected to transform the anesthesia and respiratory devices market?
Key players in the anesthesia and respiratory devices market are introducing innovative products like the Lifebox-Smile Train pulse oximeter, in a bid to amplify their market profitability. This cost-efficient device has the capacity to track oxygen saturation in patients amid surgery, thereby enhancing the safety of anesthesia. For instance, Smile Train Inc., an American nonprofit organization involved in offering corrective surgery to children suffering from cleft lips and palates, rolled out the Lifebox-Smile Train pulse oximeter in July 2022. Its cost-effectiveness and ability to monitor oxygen saturation during surgery boosts the safety quotient of anesthesia.
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What regions are contributing significantly to the growth of the anesthesia and respiratory devices market?
Asia-Pacific was the largest region in the global anesthesia and respiratory devices market in 2024. 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
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