Anesthesia and Respiratory Devices Market To Garner US$21.6 bn By 2019
A new Transparency Market Research report states that the global anesthesia and respiratory devices market stood at US$11.2 bn in 2012 and is predicted to reach US$21.6 bn in 2019. It is expected to expand at a CAGR of 9.80% from 2013 to 2019. The title of the report is "Anesthesia and Respiratory Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019".
According to the report, the market for anesthesia and respiratory devices is stimulated by the shifting preference of patients to home healthcare devices from hospital care devices. In addition, the increasing number of surgeries, along with the rising incidence of respiratory diseases, has further augmented the demand for anesthesia and respiratory devices. Furthermore, the increasing aging population having asthma, pulmonary diseases, and COPDs is predicted to augment the development of the market in the coming years. The increasing funding by governments in a number of countries has also impacted the market positively. On the other hand, the unprogressive adoption of anesthesia information management systems (AIMS) via hospitals is a chief factor that may impede the growth of the anesthesia and respiratory devices market.
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On the basis of type, the anesthesia devices market is segmented into anesthesia disposables and anesthesia machines. Amongst these, the segment of anesthesia machines led the market in 2012. The segment of anesthesia delivery machines represented the biggest value share in 2012. However, the market for anesthesia monitors is poised to expand at a CAGR of more than 8% in the forecast horizon and will thus surpass anesthesia delivery machines.
The respiratory devices market is segmented into respiratory equipment, respiratory measurement devices, and respiratory disposables. The segment of respiratory equipment is further segmented into humidifiers, nebulizers, positive airway pressure devices, ventilators, inhalers, and oxygen concentrators. Amongst these, in the coming years, the segment of positive airway pressure devices is expected to experience the swiftest growth.
On the basis of geography, the global anesthesia and respiratory devices market is segmented into North America, Asia, Europe, and Rest of the World (RoW). Amongst these, the regional segment of Asia is poised to experience the greatest CAGR of more than 10% in the forecast horizon. The reason for the dominance of this region is the increasing disposable incomes of consumers and the rising number of people having respiratory diseases in this region. Furthermore, the increasing number of health reforms and the economic advancement in the region in recent years will further raise government funding as well as the research and development activities by prime players. This will further augment the growth of the market in Asia.
As per the report, the prime players operating in the market for respiratory and anesthesia devices are Covidien, GE Healthcare, Drager, Getinge, Teleflex, and Smith’s Medical, among others.
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