Anesthesia And Respiratory Devices Global Market Size:
The global anesthesia and respiratory devices market was valued at around $8 billion in 2017. North America was the largest region in the anesthesia and respiratory devices market in 2017, accounting for nearly 35% market share. The USA was the largest country in the market in 2017, accounting for nearly 25% market share.
Anesthesia And Respiratory Devices Global Market Overview:
Sleep apnea patients are increasing preference to home care treatment due to its cost effectiveness and convenience. This is one of the trends in the anesthesia and respiratory market. Earlier Sleep Apnea diagnosis was a tedious process of overnight monitoring in laboratories which can now be done at home and its diagnosis in laboratories and hospitals is inconvenient and expensive, but the detection device by the Toronto Rehabilitation Institute makes it much easier and simpler and an in-house practice where in a user can wear a mask and the breathing pattern is stored onto a downloadable memory chip, assessed later. It can be repeated if necessary. Some of the examples of portable diagnostic devices for the treatment of sleep apnea are QDC-Pro, ApneaRx sleep therapy device, and SomnoStar z4 sleep system (Beckton, Dickenson and Company); The MediByte Kit (Braebon Medical Corporation); and Sleep Profiler sleep monitor, Sleep Profiler PSG2TM Type 2 home sleep test, and Apnea Guard (Advanced Brain Monitoring, Inc.).
THE BUSINESS RESEARCH COMPANY EXPECTS THE ANASTHESIA AND RESPIRATORY DEVICES MARKET TO GROW TO $12 BILLION BY 2021
North America was the largest region in the anesthesia and respiratory devices market in 2017, accounting for one-third of the market share.
According to The Business Research Company’s Consultant, Nitin Gianchandani, the usage of portable and wireless anesthesia and respiratory devices by anesthesiologists is a growing trend in the market. The trend is being driven by the ease of handling, cost effectiveness, advanced features of these devices, and their suitability for use at home care organizations. Innovative portable anesthesia and respiratory devices are being launched into the market, which unlike traditional devices, can be used for immediate diagnosis of vital signs, for example the patients’ respiratory rate and the pulse rate. For instance, The Cambridge Design Partnership, an industrial design consulting firm, has designed and created a monitor to check the heartbeat of patients with multiple conditions during emergency situations. The results are then transmitted through Bluetooth to smart gadgets thus making it much easier and simpler data management. In December 2014, Praxair launched Grab ‘n Go Digital advanced portable oxygen system used in critical care units that raises alarm when oxygen levels are low.
Medtronic Plc was the largest competitor with 18.35% of the market, generating revenues of $1.5 billion for the financial year 2016. Medtronic’s growth strategy is to capture untapped business opportunities in emerging markets through public and private partnerships. Medtronic entered into a partnership with the Chengdu government in Sichuan Province to manufacture portable haemodialysis equipment.
The global anesthesia and respiratory devices market includes organizations manufacturing and marketing anesthesia devices (airway management devices, anesthesia circuits, anesthesia machines and masks, laryngoscope blades, laryngoscope handles, anesthesia machines and pain management devices, regional anesthesia disposables, and accessories) and respiratory devices (humidifiers, nebulizers, oxygen concentrators, airway pressure devices and ventilators, respiratory disposables, respiratory measurement devices, sleep apnea diagnostic systems, and accessories).
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