The global anaesthesia and respiratory devices market is anticipated to increase over the course of the forecast period as a result of a rise in the number of product launches by major industry participants. In the U.K. market, for instance, the A8 and A9 anaesthetic machines were introduced in October 2020 by Chinese medical instrument company Midray Medical. Advanced anaesthetic equipment, the A8 and A9 anaesthesia machines have connectivity options, patient safety features, and high flow nasal cannula (HFNC) technology built right into the anaesthesia machine. The market for anaesthetic and respiratory equipment is anticipated to develop as more products receive regulatory authority approval. As an illustration, General Electrical Corporation declared in April 2022 that the FDA had cleared the company's End-tidal (Et) Control software for general anaesthetic delivery on its Aisys CS2 Anesthesia Delivery System. Anesthesiology professionals can select the preferred end-tidal oxygen and anaesthetic medication concentrations using the Aisys CS2 Anesthesia Delivery System.
The Coherent Market Insights estimates that the global market for Anaesthesia and Respiratory Devices will be worth US$32,565.8 million in 2022 and project a CAGR of 6.1% for the forecast period (2022-2030).
Key Competitors in the Anaesthesia and Respiratory Devices Industry:
1. Paykel Healthcare
The company was established in 1934 and its main office is in Auckland, New Zealand. The business produces, develops, and markets systems and solutions for use in acute care, respiratory care, and the treatment of obstructive sleep apnea. The business sells breathing circuits, masks, accessories, invasive ventilation, CPAP therapy, adult and infant respiratory products.
2. Invacare Corporation,
The company was founded in 1885 and is based in Elyria, Ohio, United States. The business produces and sells medical supplies to the non-acute care sector on a global scale. The business sells its goods to institutional, mass-retail, and home care consumers. Invacare offers products like powered and manual wheelchairs, home care beds, diabetes supplies, and furniture for nursing homes.
3. 3M
The company was founded in 1902 and is based in Saint Paul, Minnesota, in the United States. The business operates in the industries of manufacturing, consumer goods, healthcare, and worker safety. In December 2021, 3M announced that it would integrate Neogen, a provider of products for animal healthcare and food testing, into its operations for food safety. The company announced in December 2022 that it will stop producing and using the so-called "forever chemicals," which were historically commonly used in goods including clothing, nonstick cookware, firefighting foams, food packaging, cellphones, and other products.
4. GE Healthcare,
The business was established in 1892 and is based in Chicago, Illinois, United States. It produces and distributes radiopharmaceuticals and diagnostic imaging agents for imaging modalities used in medical imaging operations. A partnership between GE and Spectronic Medical to develop AI-based software was established in 2021. The company revealed in September that it will pay $1.45 billion to buy BK Medical from Altaris Capital Partners.
5. Medtronic Plc
The business was founded in 1949 and has its headquarters in Dublin, Ireland. It develops and produces technologies and medical procedures.The combined Patient Monitoring and Respiratory Interventions businesses, which are a component of the corporation's Medical Surgical Portfolio, will be pursued for separation, the company stated in October 2022. The company declared its intent to buy Affera, Inc. in January 2022.
6. OSI System
The business was established in 1987 and is based in Hawthorne, California, United States. The company manufactures security and inspection systems, as well as components for lasers, optics, and optoelectronic devices, as well as medical monitoring and anaesthetic systems. In addition to systems for checking luggage, people, and cars, the company also produces blood pressure monitors, anaesthetic machines, haemoglobin saturation monitors, lasers, lenses, prisms, and microelectronic parts.
7. Koninklijke Philips N.V.,
The business was founded in 1891 and has its main office in Amsterdam, Netherlands. The business specialises on health technology with a goal of enhancing people's health along the entire health continuum, from preventative measures and healthy living to home care and medical treatment. Philips India introduced its new Sonicare line of electric toothbrushes in April 2022, with cutting-edge Sonic Technology. Philips debuted its AI-powered Imaging Solutions in March 2022 at IRIA 2022.
*Definition: Medical devices such as anaesthetic and respiratory equipment are used for a variety of procedures. For example, anaesthesia equipment is used to give and monitor anaesthesia doses during surgery in critically ill patients in order to lessen pain and sensation and make the procedure easier.
