Anaesthesia And Respiratory Devices Market Opportunities Future Guidelines Value Chain Forecast To 2028
Anaesthetic devices provide a proper and continuous supply of medical gases mixed with anaesthetic vapor that serves the purpose of an induced coma. Respiratory devices assist to improve pulmonary function by removing any mucus in the respiratory airways. Respiratory devices are leading the market as compared to anaesthetic devices, which have limited number of end users. Rise in healthcare expenditure has shifted the preference of patients from hospital care to home care. Therefore, demand for portable devices is rising in order to achieve better healthcare monitoring.
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Key drivers responsible for high demand and growth of the global anaesthesia and respiratory devices market include high frequency of respiratory illness that occurs in the form of COPD (Chronic Obstructive Pulmonary Diseases), and OSA (Obstructive Sleep Apnea). Factors responsible for these two conditions include, ageing population and rising levels of air pollution. Technological advancements in devices is another driving force for growth of the global anaesthesia and respiratory devices market.
However, tax reforms and critical regulatory compliance procedures are restraining growth of the global anaesthesia and respiratory devices market in developed countries. Whereas, rising trend of medical tourism and rising healthcare expenditure in developed countries provide ample growth opportunities for anaesthetic and respiratory devices market.
North America market accounts for largest market share of the global anaesthetic and respiratory devices market as compared to that of other regions. This dominance is attributed to technological advancement in all product fields, relatively higher disposable income along with high awareness level among people with respect to food and health are key factors. Asia Pacific market accounts for second largest market share which is attributed to rise in demand from emerging countries such as India and China, followed by the market in Europe.
Key players in the global anaesthetic and respiratory devices market include GE Healthcare and Covidien, Philips Healthcare, Getinge Group, Draegerwerk AG, and Teleflex Inc. The global anaesthetic and respiratory devices market is a fragmented market with major players accounting for more than 50% market share. GE Healthcare and Covidien together account for more than 23% of the total global market share.
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