Respiratory Devices & Anesthesia Market | 2019 Global Industry Research Report

Respiratory Devices & Anesthesia Market | 2019 Global Industry Research Report

“Anesthesia And Respiratory Devices Market By Type Of Product (Respiratory Devices And Equipment, Anesthesia Machines, Anesthesia Disposables And Respiratory Disposables) Drivers And Restraints – Global Forecast To 2022”
Medtronic Plc Was The Largest Company In The Anesthesia And Respiratory Devices Market, According To TBRC’s Report (Companies: Medtronic Plc, Philips Healthcare, Draegerwerk AG, Getinge Group And Masimo Corp)

The global anesthesia and respiratory devices market was valued nearly at $19 billion in 2017. North America was the largest market for anesthesia and respiratory devices, accounting for around 47% of the global market in 2018. The USA is the largest country in terms of value in the anesthesia and respiratory devices market.

The global anesthesia and respiratory devices market is segmented into respiratory devices and anesthesia devices. The respiratory devices segment accounts for a major share in the market due to its wide usage in healthcare institutions, home healthcare and ambulances.

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Anesthesia And Respiratory Devices Market Size

The anesthesia and respiratory devices market is expected to grow at a growth rate of around 2% to nearly around $22 billion by 2022.Growth in the anesthesia and respiratory devices market in the historic period resulted from rising prevalence of respiratory diseases, increasing number of surgical procedures, increasing geriatric population and rising healthcare expenditure in anesthesia and respiratory devices. Factors that negatively affected growth in the historic period were lack of trained workforce and technical resources, low penetration of anesthesia devices and stringent regulatory approval process for medical devices. Going forward, changing climatic conditions, technological advancements, government support and continued use of tobacco will drive growth.

The global anesthesia and respiratory devices market is relatively concentrated. The top ten competitors in the global anesthesia and respiratory devices market made up around 52% of the total market in 2018. Players in the market include Medtronic Plc, Philips Healthcare, Draegerwerk AG, Getinge Group and Masimo Corp.

Medtronic was the largest company in the anesthesia and respiratory devices market in 2017 with around 18% share of the market. Medtronic was founded in 1949 and is headquartered at Minnesota, USA.

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Some of the major drivers of the market are:

Changing Climatic Conditions – The changes in the climatic condition have affected the quality of air and water globally. The particulate matter in the air has changed with particulate matter smaller than 2.5 µm suspended in the air. Inhalation of the particulate matter will lead to increased incidence of various chronic conditions such as asthma, COPD and other respiratory diseases.

Government Support – Government across various countries are introducing various initiatives to increase healthcare awareness among the general population.

However, the market is expected to face restraints from several factors such as –

Regulation For Administration Of Anesthetic Agents – With the volume of complex surgical procedures increasing, the demand for administration of anesthetic agents is bound to increase likewise. Due to this demand, the administration of anesthesia is not limited to anesthesiologist but has been extended to other healthcare personnel, which is not permissible.

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