Anesthesia and Respiratory Devices Global Market Report 2024

The anesthesia and respiratory devices market size has grown rapidly in recent years. It will grow from $57.98 billion in 2023 to $64.96 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth observed in the historical period in the anesthesia and respiratory devices market can be attributed to several key factors. These include the increased prevalence of respiratory diseases, the impact of the COVID-19 pandemic, a rise in the number of surgical procedures, strong economic growth in emerging markets, increased healthcare expenditure, and a growing aging population.

The anesthesia and respiratory devices market size is expected to see rapid growth in the next few years. It will grow to $99.53 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The projected growth in the anesthesia and respiratory devices market is driven by factors such as the rising prevalence of obstructive sleep apnea, technological advancements, increased tobacco smoking contributing to respiratory conditions, higher healthcare expenditure, and a growing geriatric population. Key trends include the development of smart inhalers, manufacturing patient-controlled liquid analgesia (PCLC) devices, investing in wearable respiratory device research and development, launching innovative products, and producing portable respiratory devices.

The rise in respiratory diseases prevalence is expected to be a driving factor for the anesthesia and respiratory devices market. These diseases impact the lungs and airway systems, requiring essential medical procedures facilitated by anesthesia and respiratory equipment. For instance, the Global Tuberculosis Report in October 2022 noted a global incidence of 10.6 million tuberculosis (TB) cases, with an increase of 4.5% from the previous year. Southeast Asia reported 45% of the cases, with Africa following at 23% in 2021. This surge in respiratory diseases is poised to stimulate the growth of the anesthesia and respiratory devices market.

An increase in healthcare expenditures is predicted to fuel the expansion of the anesthesia and respiratory devices market. The growth in healthcare spending typically corresponds to an emphasis on superior healthcare services, including surgical and respiratory care, driving the demand for advanced devices to enhance patient outcomes. For example, in May 2023, the UK's healthcare spending increased by 9.4% in nominal terms and 9.7% in real terms. The total healthcare expenditure reached $367.25 billion (£280.7 billion) in 2021, with pharmaceutical expenses at $51.84 billion (£39.6 billion) and preventive care at $45.93 billion (£35.1 billion). This escalating healthcare expenditure is set to propel the anesthesia and respiratory devices market forward.

Companies within the anesthesia and respiratory devices market are increasingly dedicated to the development of wearable respiratory devices, aiming to enhance patient monitoring. These devices, typically worn on the torso, track breathing rates by measuring chest wall movements. Available in various forms such as small sensors, belts, or band-aid-such as designs, they connect to specialized smartphone apps that capture, interpret, and store data in cloud repositories. Focused on key respiratory healthcare areas such as pulse oximetry, pulmonary ventilation, air quality assessment, and activity tracking, these wearables alleviate healthcare provider workloads, enhance diagnostic efficiency, cut patients' regular checkup costs, and enhance patient comfort. Notably, initiatives led by researchers at the University of California and Khine Labs underscore a strong investment in developing comfortable wearables for respiratory disease patients.

Major companies operating in the anesthesia and respiratory devices market report are ResMed Inc., Koninklijke Philips N.V., General Electric Company, Cardinal Health, Inc., Medtronic PLC, Fisher & Paykel Healthcare Corporation Limited, Draegerwerk AG, Teleflex Inc., Vyaire Medical, Inc., Smith Group Plc., GE Healthcare, Covidien Healthcare, Metran Co., Ltd., Siemens Healthcare, Opto Circuits, Roche, AstraZeneca, B. Braun, Melsungen, Masimo Corporation, Dixion, SunMed, Getinge Group, CapeRay, Centre for Rapid Prototyping and Manufacturing (CRPM), DISA Vascular, Sinapi biomedical, Ti-TaMED.

Asia-Pacific was the largest region in the global anesthesia and respiratory devices market in 2023. North America was the second largest region in the global anesthesia and respiratory devices market. Eastern Europe was the smallest region in the global anesthesia and respiratory devices market. The regions covered in the anesthesia and respiratory devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the anesthesia and respiratory devices market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The anesthesia and respiratory devices market consists of sales of instruments such as resuscitators, laryngoscopes, flexible intubation scopes, supraglottic airways, ventilator circuits, HME, and other anesthesia and respiratory instruments that are used for the diagnosis and treatment of respiratory diseases. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. . The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The main types of anesthesia and respiratory devices include respiratory devices and equipment (both therapeutic and diagnostic), anesthesia machines, anesthesia disposables, and respiratory disposables. Respiratory disposables are designed for single-use and are discarded after factors such as excessive breathing resistance, sorbent exhaustion, physical damage, or the end of their service life makes them unsuitable for further use. Expenditure in this market can be categorized as public and private, and the products used include instruments/equipment and disposables. The utilization of these devices spans across various genders, including both male and female, and they find application in multiple end-user settings such as hospitals and clinics, diagnostic laboratories, and other healthcare facilities.

The anesthesia and respiratory devices market research report is one of a series of new reports that provides anesthesia and respiratory devices market statistics, including anesthesia and respiratory devices industry global market size, regional shares, competitors with a anesthesia and respiratory devices market share, detailed anesthesia and respiratory devices market segments, market trends and opportunities, and any further data you may need to thrive in the anesthesia and respiratory devices industry. This anesthesia and respiratory devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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