Global Anesthesia And Respiratory Devices Market To Reach Worth USD 29.9 Bn By 2022: Innovation And Product Development To Drive The Market

According to the latest report published by Credence Research, Inc. “Anesthesia and Respiratory Devices Market – (Device Type – Anesthesia Devices: Anesthesia Machines, Anesthesia Monitors, Anesthesia Vaporizers, Analgesic Machines, Anesthetic Masks, Anesthetic Accessories; Respiratory Devices: Humidifiers, Resuscitators, Breathing Circuits, CPAP Devices, CPAP Masks, Oxygen Concentrators, Nebulizers, Ventilators, Inhalers, Tracheostomy Tubes, Oxygen Cannules, Capnographs, and Spirometers): Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the  market was valued at USD 16.26 Bn in 2015, and is expected to reach USD 29.9 Bn by 2022, expanding at a CAGR of 9.1% from 2016 to 2022.

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The anesthesia machines are commonly used in all types of surgeries as is designed to provide an accurate and continuous supply of medical gases mixed with anesthetic vapors, which is delivered to the patient at a safe pressure and flow. Respiratory devices help in removal of mucus from the respiratory airways and thereby improve pulmonary function. North America held the largest regional market, accounting for the market share of over 33% in 2015, and is anticipated to dominate the global anesthesia and respiratory devices market during the forecast period of 2016 to 2022.

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Rising number of patient population suffering from respiratory diseases and COPD in the region, continuous research and development, and availability of efficient reimbursement policies for respiratory and anesthesia devices would drive the North America anesthesia and respiratory devices market. Asia Pacific is expected to grow at a highest growth rate during the focus period, due to developing healthcare infrastructure and rising healthcare awareness and high unmet needs of people driving the anesthesia and respiratory devices market in the region.

Among the device types, respiratory devices market held the largest share in terms of revenue. The rising patient base suffering from sleep disorders such as Obstructive Sleep Apnea (OSA) and respiratory diseases such as chronic obstructive Pulmonary Diseases (COPD) has been a major growth driver for respiratory devices market segment.

Increased healthcare expenditure has shifted the preferences of patients from hospital care to home care, thus demand for home healthcare monitoring devices are rising. Anesthesia devices on the other hand are growing at a faster rate due to the increased number of planned surgeries and growing demand for minimizing anesthesia-related risks to both healthcare personnel and patients. Furthermore, introduction of low priced and multi featured devices would further drive the market for anesthesia devices during the forecast period.

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