Global Anesthesia and Respiratory Devices Market, by Product Type (Anesthesia Devices {Anesthesia Monitoring System (Advanced Anesthesia Monitor (Anesthesia Gas Monitor, Depth of Anesthesia Monitors, Standalone Capnography Monitors, and MRI Compatible Anesthesia Monitor) and Basic Anesthesia Monitors), Anesthesia Machines (Portable Anesthesia Machines and Standalone Anesthesia Machines), Anesthesia Workstation, Anesthesia Ventilators, and Anesthesia Disposables and Accessories}) and (Respiratory Devices (Therapeutic Devices (Positive Airway Pressure (PAP) Devices, Inhalers, Humidifiers, Oxygen Concentrators, Reusable Resuscitators, Respiratory Mask, Nitric Oxide Delivery Units, and Others), Monitoring Devices (Pulse Oximeters, Capnographs, and Gas Analyzers), Diagnostic Devices (Spirometer, Peak Flow Meters, Polysomnography Devices, and Others) and Consumables and Accessories (Tracheostomy Tubes, Nasal Cannulas, and Others), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 32,565.8 Million in 2022 and is expected to exhibit a CAGR of 6.1 % during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The increase in product launches by key market players is expected to drive growth of market over the forecast period. For instance, in April, 2022, GSK plc, a British pharmaceutical and biotechnology company launched once daily, single inhaler-triple therapy for COPD (Chronic Obstructive Pulmonary Disease) patients in India. Trelegy Ellipta (fluticasone furoate/umeclidinium/vilanterol) is the first once daily single-inhaler triple therapy (SITT) in India for COPD patients.
Moreover, the increasing adoption of inorganic growth strategies such as acquisitions by key players is expected to drive the market growth over the forecast period. For instance, in December 202, Zynex, Inc., a medical device manufacturer company, acquired Kestrel labs Inc., a medical electronics enterprise. Kestrel labs Inc.’s products includes, a multi-parameter pulse oximeter, and HemeOx, a total hemoglobin oximeter.
Global Anesthesia and Respiratory Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on market, owing to the increasing partnerships between key players. For instance, Cummins, a U.S.-based corporation that designs, manufactures, and power generation products partnered with Dupont, U.S.-based company to use filter technology to supply critical material for N95 respirator masks during the COVID19 pandemic.
Global Anesthesia and Respiratory Devices Market: Key Developments
For instance, in September 2021, Teva Pharmaceutical, an Israeli pharmaceutical company launched two new digital inhalers. AirDuo Digihaler and the ArmonAir Digihaler are two new digital inhalers launched by the company. These are prescription inhalation powders for people aged 12 and above who have asthma. The AirDuo can be used to control and prevent asthma symptoms such as wheezing, whilst the ArmonAir is intended for long-term treatment of asthma.
Browse 34 Market Data Tables and 31 Figures spread through 160 Pages and in-depth TOC on Anesthesia and Respiratory Devices Market, by Product Type (Anesthesia Devices {Anesthesia Monitoring System (Advanced Anesthesia Monitor (Anesthesia Gas Monitor, Depth of Anesthesia Monitors, Standalone Capnography Monitors, and MRI Compatible Anesthesia Monitor) and Basic Anesthesia Monitors), Anesthesia Machines (Portable Anesthesia Machines and Standalone Anesthesia Machines), Anesthesia Workstation, Anesthesia Ventilators, and Anesthesia Disposables and Accessories}) and (Respiratory Devices (Therapeutic Devices (Positive Airway Pressure (PAP) Devices, Inhalers, Humidifiers, Oxygen Concentrators, Reusable Resuscitators, Respiratory Mask, Nitric Oxide Delivery Units, and Others), Monitoring Devices (Pulse Oximeters, Capnographs, and Gas Analyzers), Diagnostic Devices (Spirometer, Peak Flow Meters, Polysomnography Devices, and Others) and Consumables and Accessories (Tracheostomy Tubes, Nasal Cannulas, and Others), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in The Anesthesia and Respiratory Devices Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/anesthesia-and-respiratory-devices-market-532
Increase in number of product launches by market players is expected to boost the market growth over forecast period. For instance, in November 2019, Penlon, a medical device company launched Prima 450 and Prima 460, two anesthetic machines. These machines were designed and built in the U.K.
Key Takeaways of the Global Anesthesia and Respiratory Devices Market:
- Global anesthesia and respiratory devices market is expected to exhibit a CAGR of 6.1% during the forecast period due to rise in demand of pulse oximeters. For instance, in April 2021, The Hindu, an English-language, Indian daily newspaper, stated that the shortage of medical oxygen in north Indian states, as well as numerous reports of sudden drops in oxygen levels in COVID-19 patients were found and this appeared to have increased demand for pulse oximeters, which allow people to check their oxygen saturation levels or the level of oxygen in their blood easily at home.
- Among product type segment, anesthesia devices segment is expected to exhibit highest CAGR in the global anesthesia and respiratory devices market during the forecast period this is attributed to increasing product launches and increasing research and development activities by major players in the market. For instance, key market players like Dräger and Midray offers wide variety of anesthesia systems.
- Among regions, North America is estimated to account for the largest market share in the global anesthesia and respiratory devices market, due to increase in funding and partnership by key market players. For instance, on September 7, 2022, Gradian Health, a U.S.-based company announced strategic partnership with Penlon, a medical device company. This new partnership between the Gardian Health and Penlon will provide co-branded Prima Anesthesia Machine designed for use in busy operating rooms
- Major players operating in the global anesthesia and respiratory devices market include Fisher and Paykel Healthcare, Invacare Corporation, GE Healthcare, Teleflex Incorporated, AstraZeneca Plc, Drägerwerk AG & Co. KGaAwerk AG, Medtronic Plc, Smiths Medical, OSI System, Getinge AB, Becton, Dickinson and Company, ResMed, Inc, Koninklijke Philips N.V., and 3M.
