Global Anesthesia And Respiratory Devices Market Is Estimated To Witness Significant Growth Due To Increasing Expenditure On Healthcare Infrastructure And Increasing Prevalence Of Respiratory Diseases

 

 Anesthesia And Respiratory Devices Market

Overview:

Anesthesia and respiratory devices are a set of products that are used for the treatment and monitoring of respiratory diseases, including asthma, COPD, pneumonia, and obstructive sleep apnea. They include devices such as anesthesia pumps, nebulizers, oxygen concentrators, and ventilators. The demand for anesthesia and respiratory devices is expected to increase in the coming years due to technological advancements in these equipment. Manufacturers are incorporating enhanced patient monitors, wireless devices, innovative parameters, integrated IT solutions, and workflows to facilitate customized services to patients. The market is also fueled by government initiatives that support innovation in healthcare.This market is projected to witness growth due to the increasing number of patients undergoing for COPD, increasing senior population, and availability of reimbursement for respiratory and anesthesia devices.

Market Dynamics:

 

Increasing business expansion is estimated to augment growth of the global anesthesia and respiratory devices market over the forecast period. For instance, Medtronic plc, has expanded the ventilator production globally by 40 percent in March 2020. They are planning to double their manufacturing and supply ventilators for meeting the increasing demand from healthcare systems globally due to increasing number of COVID-19 patients. Moreover, lack of technological resources is anticipated to restrain growth of the global anesthesia and respiratory devices market over the forecast period.

 

Impact of COVID-19:

 

COVID-19 impacted several industries like manufacturing, electronics, automobile, and semiconductors. This was due to the shutting down of manufacturing activities in many sectors owing to strict restrictions imposed by governments. The pandemic affected the healthcare sector in a significant manner. As COVID-19 had long-term effects on the lungs and the respiratory tract, there was an increased demand for anesthesia and respiratory devices. Several hospitals across the world were in need of anesthesia and respiratory devices for treating COID-19 patients. Thus, the global anesthesia and respiratory devices market witnessed significant growth during the pandemic.

 

 

 

Key Takeaways:

 

The global anesthesia and respiratory devices market is expected to witness high growth, exhibiting CAGR of 7.01% over the forecast period, due to increasing collaborations. For instance, Medtronic and GE Healthcare collaborated in April 2022, for meeting the unique demands at Ambulatory Surgical Centers (ASCs).

North America is anticipated to witness significant growth in the global anesthesia and respiratory devices market over the forecast period, owing to growing geriatric population and increasing number of surgeries.

Major players operating in the global anesthesia and respiratory devices market are General Electric Company, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Medtronic, ResMed, Teleflex Inc., B. Braun Melsungen AG, Koninklijke Philips N.V., Masimo, Drägerwerk AG & Co. KGaA, Smiths Group plc, and Medtronic.