According to a report,“Anesthesia & Respiratory Devices Market Size, Share & Trends Analysis Report By Product (Anesthesia Devices, Respiratory Devices), By Region, And Segment Forecasts, 2019 – 2026”, published by Grand View Research, Inc.,The global anesthesia and respiratory devices market size is expected to reach USD 49.4 billion by 2026, It is anticipated to expand at a CAGR of 6.6% over the forecast period. Increasing prevalence of respiratory diseases, patient preferences for reduced hospital stay, and supportive government funding are among the key driving factors.
Key Takeaways from the report:
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On the basis of product, respiratory devices is estimated to expand at the highest CAGR in terms of revenue over the forecast period owing to rising prevalence of cystic fibriosis, asthma, and tuberculosis. Positive airway pressure devices led the segment owing to increasing incidence of Obstructive Sleep Apnea (OSA)
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Asia Pacific is expected to witness the fastest growth over the forecast period owing to increasing healthcare expenditure and awareness among patients
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Few key players operating in the anesthesia and respiratory devices market are AirSep Corporation; B. Braun Medical Inc.; BD; Medtronic; Drager; GE Healthcare; Philips Healthcare; ResMed; and Smiths Medical.
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Shifting preference of patients towards reduced hospital stay is anticipated to increase the adoption of anesthesia and breathing instruments, thereby, driving the market. As per the American Hospital Association, approximately 20% of Medicare beneficiaries, when discharged from hospital return within 30 days. Identifying and reducing avoidable readmissions is expected to improve healthcare safety and reduce spending. Hence, policymakers are striving to reduce hospital stays of patients. The Patient Protection and Affordable Act, Congress initiated the Hospital Readmission Reduction Program (HRRP) under which Medicare is allowed to penalize hospitals for higher rates of readmissions since 2013. Due to the implementation of this act, many physicians and patients opt for anesthesia and breathing devices, such as ambulatory infusion pumps and home respiratory monitors.
Furthermore, aging is considered one of the greatest risk factors for the development of sleep apnea disorders and is therefore, expected to be a high-impact rendering driver for this market.
Key players are also taking initiatives to develop advanced instruments with an aim to bring improvement in the treatment. For instance, in April 2018, B. Braun Medical Inc. announced to introduce Clorotekal, which is a U.S. Food and Drug Administration (FDA) approved anesthetics for spinal anesthesia. Such initiatives are anticipated to propel growth of the anesthesia and respiratory devices market in the forthcoming years.
Grand View Research has segmented the global anesthesia and respiratory devices market on the basis of product and region:
Anesthesia & Respiratory Devices Product (Revenue, USD Million, 2015 – 2026)
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Anesthesia Devices
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Machines
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Delivery machines
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Portable
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Standalone
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Monitors
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Ventilators
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Workstations
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Disposables
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Disposables Masks
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Disposable Accessories
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Respiratory Devices
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Equipment
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Positive Airway Pressure
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Bi-level positive airway pressure devices
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Continuous positive airway pressure devices
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Ventilators
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Adult Ventilators
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Neonatal ventilators
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Nebulizers
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Pneumatic nebulizers
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Mesh nebulizers
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Ultrasonic nebulizers
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Humidifiers
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Heat humidifiers
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Heated wire breathing circuits
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Heat exchangers
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Pass over humidifiers
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Inhalers
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Dry powdered inhalers
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Metered dose inhaler
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Oxygen Concentrators
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Fixed oxygen concentrators
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Portable oxygen concentrators
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Reusable Resuscitators
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Disposables
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Disposable Oxygen Masks
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Resuscitators
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Tracheostomy Tubes
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Oxygen Cannula
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Measurement Devices
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Pulse Oximeters
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Capnographs
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Spirometers
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Peak Flow Meters
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Anesthesia & Respiratory Devices Regional Outlook (Revenue, USD Million, 2015 – 2026)
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North America
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U.S.
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Canada
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Europe
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U.K.
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Germany
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Italy
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France
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Spain
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Asia Pacific
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Japan
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China
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India
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Australia
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South Korea
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Latin America
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Brazil
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Mexico
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Argentina
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Colombia
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MEA
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Saudi Arabia
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South Africa
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UAE
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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