Global Anesthesia and Respiratory Devices Market is Expected to Surpass US$21.6 bn by 2019
Posted: Dec 26, 2017
Transparency Market Research has published a new report on the global anesthesia and respiratory devices market. As per the report, the Asia Pacific anesthesia and respiratory devices market is expected to expand at a 10.0% CAGR from 2013 to 2019. The growth of the global anesthesia and respiratory devices market will be propelled by factors such as rising government funding, the rising number of surgeries, and the increasing prevalence of chronic pulmonary diseases, says the report.The report, titled ‘Anesthesia and Respiratory Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,’ states that the global market will be primarily affected by the growing implementation of the Affordable Health Care for America Act, 2010.
Manufacturers of anesthesia and respiratory devices are constantly taking efforts to upgrade their technology to manufacture better products. Over the past few years, the preference of people has shifted from hospital care to home health care services. This has encouraged leading players to introduce varieties of portable medical devices. The availability of a variety of home healthcare devices has propelled the global market in the recent past.
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As per a recent study from World Health Organization, chronic obstructive pulmonary disease (COPD) is predicted to be one of the chief causes of death by 2030. In 2012, in the U.S., around 13.6 mn adults were diagnosed with COPD. A rising aging population diagnosed with COPD and asthma is predicted to propel the demand for anesthesia and respiratory devices in the coming few years.
The slow adoption rate of anesthesia information management systems (AIMS) is expected to be a major challenge for the global market. However, destinations where the cost of manufacturing anesthesia and respiratory devices is low are expected to offer many growth opportunities to the global market. The global anesthesia and respiratory devices market is segmented on the basis of product type and region. By region, the global anesthesia and respiratory devices market is divided into North America, Europe, Asia Pacific, and Rest of the World. The rising disposable income, healthcare reforms, and economic developments are expected to propel the Asia Pacific market for anesthesia and respiratory devices in the near future.
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Based on product type, the global anesthesia and respiratory devices market is divided into anesthesia devices and respiratory devices. The anesthesia devices segment is sub-segmented into anesthesia machines and disposables. Currently, the anesthesia machines sub-segment is driving the maximum demand for anesthesia devices in the global anesthesia and respiratory devices market. The respiratory devices segment is sub-segmented into respiratory equipment, disposables, and measurement devices. The positive airway pressure devices sub-segment is predicted to dominate the respiratory devices segment during the forecast period.
Going forward, the global anesthesia and respiratory devices market is expected to benefit from the rise in the pulmonary diseases. As per The American Society of Anesthesiologists (ASA), in the U.S., every year approximately 40 million anesthesia treatments are administered. The increasing use of anesthesia devices is expected to benefit the global anesthesia and respiratory devices market in the near future.
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Companies such as GE Healthcare, Drager, Getinge, Covidien, Teleflex, and Smith’s Medical are contributing significantly towards the growth of the global anesthesia and respiratory devices market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services.