Global Anesthesia and Respiratory Devices Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Anesthesia Devices (Anesthesia Workstation, Anesthesia Delivery Machines, Anesthesia Ventilators, Anaesthesia Monitors, Anesthesia Disposables & Others) & Respiratory Devices (Therapeutic Devices, Masks, Ventilators, Humidifiers, Oxygen concentrators, Inhalers & Others), By End-User (Hospitals, Clinics, Homecare Settings, Ambulatory Service Centers & Others), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2030

Market Perspective

The Anesthesia and Respiratory Devices Market was valued at US$ 34.3 Bn in 2021 and is projected to reach US$ 68.5 Bn by 2030, at a CAGR of 8.6%. Respiratory care devices are used to diagnose and treat respiratory disorders such as COPD, asthma, TB, and pneumonia. Patients suffering from acute and chronic respiratory problems can benefit from these devices. The rise in the prevalence of respiratory disorders has been a major driver of the respiratory care devices industry over the previous decade.

During surgical procedures, anesthesia devices are used to control pain, respiration, blood pressure, blood flow, and heart rate and rhythm. Anesthesia causes a lack of feeling or awareness in patients, which might include analgesia (pain reduction or prevention), paralysis (muscle relaxation), forgetfulness (loss of memory), or unconsciousness.

The global anesthesia and respiratory devices market is driven by factors such as the rising prevalence of chronic obstructive pulmonary disease, rising healthcare awareness, and technological advances. Furthermore, increased government funding for healthcare in emerging economies fuels market expansion. Governments in emerging economies are enacting healthcare reforms that will provide new opportunities for anesthetic and respiratory equipment makers in these countries.

COVID-19 ANALYSIS

The global anesthesia and respiratory devices market is negatively impacted by the outbreak of COVID-19. The outbreak's consequences and impact are expected to intensify in the coming months as the virus spreads. Several governments of a few countries are considering national-level lockdowns as a viable means of controlling viral transmission. The outbreak of Covid-19 has forced governments around the world to deploy severe rules such as lockdowns, temporary shutdowns, and social distancing, causing disruption in the production of raw materials and in turn increasing the cost of raw materials.

Shipments of raw materials, as well as revenue produced, have fallen. Furthermore, insufficient raw material supply will limit the rate of anesthesia and respiratory devices, influencing the management of the anesthesia and respiratory devices supply chain. This chain of occurrences is expected to have a negative influence on the growth of the anesthesia and respiratory devices market in the future years.

Increasing Number of Surgical Procedures

Rising rates of respiratory illnesses such as chronic obstructive pulmonary disease (COPD) and obstructive sleep apnea (OSA) will drive global anesthesia and respiratory equipment sales. According to the World Health Organization (WHO), around 65 million people worldwide suffer from COPD, 334 million from asthma, and over 10 million from tuberculosis (TB) each year. Around 4 million individuals worldwide die prematurely as a result of respiratory disorders.

Surging Consumption of Tobacco Among Consumers

An increase in the number of cigarette smokers would boost the market size for the anesthetic and respiratory devices market. Smoking is responsible for over 90% of all lung cancer deaths, therefore smokers are more likely than non-smokers to succumb to COPD. In addition, the Centers for Disease Control and Prevention (CDC) estimates that over 40 million adults and 4.7 million middle and early adolescent smokers in the United States use at least one tobacco product every day, including e-cigarettes.

Rising Rate of Geriatric Population in the World

The rising incidence of respiratory disorders as a result of aging is likely to propel the growth of the global anesthesia and respiratory devices market. The expansion of this industry has been aided by the sophistication and continuous technological advancements of respiratory and anesthetic device makers. The expansion of this market has been propelled by a shift in consumer choice from hospital care devices to home healthcare devices, which has fostered the development of easy-to-use and portable equipment, reviving this once-established sector.

Concerns Pertaining to the Limited Existence of Asymptomatic Population

The limited existence of an asymptomatic population will hamper the market growth. People don’t prefer to consult doctors as they will end up getting depressed or conscious. Rather than getting consulted, they are likely to take preventive measures to cure mild problems. Moreover, a lack of education might also limit the anesthesia and respiratory devices market growth.

SEGMENTATION

The global anesthesia and respiratory devices market is segmented by Product Type (Anesthesia Devices (Anesthesia Workstations, Anesthesia Delivery Machines, Anesthesia Ventilators, Anaesthesia Monitors, Anesthesia Disposables & Others) & Respiratory Devices (Therapeutic Devices, Masks, Ventilators, Humidifiers, Oxygen concentrators, Inhalers & Others), By End-User (Hospitals, Clinics, Homecare Settings, Ambulatory Service Centers & Others) and region. Based on the type, the market is categorized into anesthesia devices and respiratory devices. Based on end-user, the market is categorized into hospitals, clinics, home care settings, ambulatory service centers & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, the Middle East, and Africa.

Product Type Insights

Based on the type segment, the global anesthesia and respiratory devices market is categorized into anesthesia devices & respiratory devices. The respiratory devices segment accounted for the largest market share in 2020 due to the increasing demand for chronic diseases. Also, assists with spontaneous breathing by providing a controlled overpressure, which improves disease treatment outcomes by reducing respiratory effort. Respiratory device technological advances provide additional opportunities for category expansion. In addition, a growing senior population that is susceptible to a variety of respiratory diseases, rising healthcare expenditures, and emerging market economies will all contribute to respiratory device growth in the upcoming years.

End-User Insights

Based on the end-user segment, the global anesthesia and respiratory devices market is categorized into hospitals, clinics, home care settings, ambulatory service centers, & others. The hospital's segment accounted largest market share in 2020 due to the availability of advanced and special machines and devices. Aided by expanding infrastructure to allow speedy therapy transfers and advantageous reimbursement rules. Furthermore, during the forecast period, the segmental expansion will be driven by an increasing number of hospitalizations.

REGIONAL INSIGHTS

The global anesthesia and respiratory devices market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.

North America is expected to dominate the market share of the global anesthesia and respiratory devices market. The presence of advanced healthcare infrastructure enhanced pharmaceutical companies' research and development capabilities, and rapid adoption of new and better healthcare technologies Due to increased expenditure to construct healthcare infrastructure, the rising frequency of respiratory disorders, and the rising geriatric population.

Asia Pacific is anticipated to emerge as the fastest-growing region over the forecast period. The presence of major key players and advanced technologies is propelling the growth of the global anesthesia and respiratory devices market. The increasing disposable income and per capita income of Indians are the key growth factors for the market. Furthermore, the rising number of surgical procedures is fueling market expansion. The demand for anesthesia and respiratory devices will increase as operations become more common and cosmetic procedures that require anesthesia become more popular.

KEY INDUSTRY PLAYERS

· Fisher & Paykel Healthcare Limited

· Invacare Corporation

· General Electric Company

· Teleflex Incorporated

· AstraZeneca

· Drägerwerk AG & Co. KGaA

· Medtronic

· ICU Medical, Inc.

· OSI Systems, Inc.

· Getinge AB

· BD

· ResMed, Inc

· Koninklijke Philips N.V.

· KARL STORZ

· SunMed

· Masimo

· Others

KEY INDUSTRY DEVELOPMENTS:

January 2022- ICU Medical has acquired Smiths Medical from Smiths Group plc to expand the product portfolio and create a leading infusion therapy company.

SEGMENTATION

By Product Type

• Anesthesia Devices
  • Anesthesia Workstation
  • Anesthesia Delivery Machines
  • Anesthesia Ventilators
  • Anaesthesia Monitors
  • Anesthesia Disposables
  • Others
• Respiratory Devices
  • Therapeutic Devices
  • Masks
  • Ventilators
  • Humidifiers
  • Oxygen concentrators
  • Inhalers
  • Others

By End-User

• Hospitals
• Clinics
• Homecare Settings
• Ambulatory Service Centers
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia