New York, United States , March 28, 2024 (GLOBE NEWSWIRE) -- The Global Anesthesia and Respiratory Devices Market Size is to Grow from USD 43.5 Billion in 2023 to USD 77.9 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.0% during projected period.
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Anesthesia and respiratory devices are significant items of medical equipment used in healthcare settings to help with patient care during surgical procedures and the management of respiratory diseases. Anesthesia devices are intended to offer patients general anesthesia, which produces a temporary loss of sensation and consciousness, allowing for a painless procedure. The respiratory device is used to diagnose and treat respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma, TB, and pneumonia. Ventilation is a device designed to provide mechanical ventilation support to people who are unable to breathe adequately on their breath. During surgical procedures, anesthesia devices are used to manage pain, respiration, blood pressure, blood flow, and heart rate/rhythm. The elderly global population is the main driving for the anesthesia and respiratory devices market. The higher number of the orderly population, the prevalence of age-related health issues, including respiratory disease. Governments and healthcare providers are investing in medical facilities to meet the aging population's healthcare needs, increasing demand for anesthesia and respiratory equipment. The increasing prevalence of respiratory diseases is having a substantial impact on the anesthetic and respiratory devices market. However, the market growth is hindered by a large undiagnosed population, risk factors for newborn diagnostic equipment, and low acceptance rates of new technologies by medical professionals. Hence, these factors may impede the market growth of the global anesthesia and respiratory market over the timeframe.
Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on the "Global Anesthesia and Respiratory Devices Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Anesthesia Devices, Respiratory Devices, Monitoring Devices, Diagnostic Devices, Consumables and Accessories), By End User (Hospitals, Clinics, Homecare Settings, Ambulatory Service Centers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The respiratory devices segment is anticipated to hold the greatest share of the global anesthesia and respiratory devices market during the projected timeframe.
On the basis of product type, the global anesthesia and respiratory devices market is divided into anesthesia devices, respiratory devices, monitoring devices, diagnostic devices, consumables, and accessories. Among these, the respiratory devices segment is anticipated to hold the greatest share of the global anesthesia and respiratory devices market during the projected timeframe. The growth can be attributed to the growing prevalence of respiratory disorders around the world has significantly increased demand for breathing devices.
The hospitals segment is anticipated to grow at the fastest pace in the global anesthesia and respiratory devices market during the projected timeframe.
On the basis of end user, the Global Anesthesia and Respiratory Devices Market is divided into hospitals, clinics, homecare settings, and ambulatory service centers. Among these, the hospitals segment is anticipated to grow at the fastest pace in the global anesthesia and respiratory devices market during the projected timeframe. The segmental growth can be attributed to the hospital segment comprised of primary service centers that provide advanced medical care, such as surgeries, critical care, and specialty treatments.
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North America is expected to hold the largest share of the global anesthesia and respiratory devices market over the forecast period.
North America is expected to hold the largest share of the global anesthesia and respiratory devices market over the forecast period. North America possesses an advanced healthcare infrastructure, including a large number of hospitals, skilled medical specialties, and medical facilities. A large healthcare network creates a high demand for anesthesia and breathing devices to serve patients' different medical needs. Increased investment in research and development in the medical technology sector has resulted in innovative anesthetic and respiratory equipment developments. In addition, favorable government efforts, high healthcare spending, and more advanced medical treatment, including anesthesia and respiratory care, drive the worldwide anesthesia and respiratory devices market expansion in North America.
Asia-Pacific is predicted to grow at the fastest pace in the global anesthesia and respiratory devices market during the projected timeframe. The rising prevalence of respiratory disorders amongst the elderly will enhance anesthetic and respiratory device market in this region. Economic development and healthcare reforms will increase government financing for intensive R&D, propelling the growth of the market in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global anesthesia and respiratory devices market include Becton, ICU Medical Inc., 3M Company, Koninklijke Philips N.V., Masimo Corporation, Medtronic plc., SunMed LLC., Invacare Corporation, Fisher & Paykel Healthcare Corporation Limited, GE HealthCare, Getinge AB, Dickinson and Company, Drägerwerk AG & Co. KGaA, Hamilton Medical, Teleflex Incorporated, Others.
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Recent Developments
- In April 2022, Medtronic and GE Healthcare announced a collaboration focused on the unique needs and demand for care at ambulatory surgery centers (ASCs) and office-based labs (OBLs). Under this new collaboration, customers can access extensive product portfolios, financial solutions, and exceptional service.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global anesthesia and respiratory devices market based on the below-mentioned segments:
Global Anesthesia and Respiratory Devices Market, By Product Type
- Anesthesia Devices
- Respiratory Devices
- Monitoring Devices
- Diagnostic Devices
- Consumables and Accessories
Global Anesthesia and Respiratory Devices Market, By End User
- Hospitals
- Clinics
- Homecare Settings
- Ambulatory Service Centers
Global Anesthesia and Respiratory Devices Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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