Anaesthesia Respiratory Devices Market is Projected to Attain Substantial Absolute $ Opportunity in Terms of Value Through 2022
Anaesthetic devices are used to supply accurate supply of respiratory gases along with precise concentration of anaesthetic vapours for the purpose of inducing coma in patients mostly during surgical procedures. Respiratory devices improve pulmonary functions by removing mucous from the respiratory tract. These devices have the potential to solve respiratory disorders from environmental factors and lifestyle choices. Due to these qualities the market for global anaesthesia and respiratory devices is a rapidly growing one.
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Widespread advancement in technology stemming from the need for advanced and innovative new machines in the healthcare industry has driven market growth. Adoption of anaesthesia management information system (AIMS) is also a driving factor as it has made record keeping easy and accurate. The move has also been from stand alone machines to fully integrated anaesthetic and respiratory devices comprising of anaesthesia monitors and AIMS which has pushed growth. It has helped in doing away with paper based record keeping and is a more efficient electronic solution.
Owing to the ability of anaesthesia and respiratory devices to counter environmental and lifestyle induces respiratory problems, the market for these devices are expected to grow substantially. Increased incidence of sleep apnea, asthma, COPD are key drivers that have spurred growth by increasing demand for home based, low cost healthcare devices. Also factors such as increased elderly base around the world and rising environmental pollution increase the demand for anaesthesia and respiratory devices by many folds. Anaesthesia market is dominated by machines. These machines are used extensively due to an increase in the number of planned surgeries across the world and minimizing anaesthesia related health risks in patients.
North America dominates the anaesthesia and respiratory devices market due to increased awareness, technological development and government reimbursement policies. North America and Europe has shown most growth. However, Asia Pacific is said to have the most growth due to increasing awareness, large patient pool and unmet customer needs. Low cost of production and lower tax on manufactured goods in countries like India and China facilitate manufacturers to set up factories in these countries.
The anaesthetic and respiratory devices market can also be segmented on the basis of Anaesthesia devices and Respiratory devices. Anaesthesia devices are further classified as Anaesthesia monitors, Anaesthesia Machines, Anaesthetic Vaporizers and so on. Respiratory devices include Humidifiers, resuscitators, nebulizers, oxygen masks etc.
The key players in the anaesthesia and respiratory devices market are Philips Healthcare, GE Heathcare, OSI systems, 3M, Draegerwerk AG, Fisher and Paykel, Masimo, Bomimed Inc, Alung Technologies.
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