12 December 2019: Anesthesia devices support anesthesiologists in precisely managing anesthetic vapors or gases in a desired concentration and quantity. They function as a key instrument during various surgical procedures. Respiratory devices simplify breathing during respiratory failure and other respiratory diseases. They are also used to deliver medication and to relax patients.
Respiratory Devices Sector to Contribute Substantial Demand to the Market
The respiratory devices sector accounted for the fastest growth in the market and is anticipated to expand at the fastest CAGR in the forthcoming period. Increase in the number of surgeries performed, growing occurrence of respiratory diseases, and rising healthcare spending are the key factors anticipated to drive the sector growth in the forecast period.
Anesthesia devices are further segmented into disposables and machines. The machines sub-segment comprise of delivery machines, monitors and ventilators, and workstations. Anesthesia disposables comprise of accessories and masks.
The respiratory equipment is classified into nebulizers, oxygen concentrators, respiratory inhalers, ventilators, humidifiers, and positive airway pressure devices. The positive airway pressure devices led the global anesthesia and respiratory devices and is estimated to witness significant development over the forthcoming period. The positive airway pressure devices sector is majorly driven by the rising occurrence of respiratory disorders, such as asthma, tuberculosis, and cystic fibrosis.
Market Insights:
The anesthesia and respiratory devices market is highly competitive and the key companies are investing in the growth of advanced and unique devices. Companies are accepting many developmental policies in developing economies such as India and Brazil, through agreements and acquisitions in order to surge their market shares.
In Asia Pacific, Japan accounts for a major market share due to increasing geriatric population. In countries such as India and China, the population suffers pulmonary diseases which will further boost the demand for these devices. COPD is one of the biggest causes of death in India says a study published in International Journal of Pulmonary and Respiratory Sciences. This could further drive the market demand in Asia Pacific region.
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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