Breathing Circuits Market to Reach a Valuation of US$ 10,000 Mn Billion by 2022 End
VALLEY COTTAGE, N.Y. –Surge in the number of emergency cases in the healthcare industry continues to rev up demand for breathing circuits in the global market. In addition, prevalence of asthma is projected to contribute towards the global market growth of breathing circuit. Future Market Insight states that the global market of breathing circuit is projected to reflect a CAGR of 3.1% over the forecast period, 2017-2022.
Factors Fuelling Growth of the Global Market
Growth of the global breathing circuits market is mainly bound to various macro-economic and micro-economic factors. Increasing prevalence of bronchial cancer, chronic coughing, and asthma has led to a surge in demand in the healthcare industry. Increasing preference of smoking is further expected to impact growth of the global market. Smoking leads to chronic inflammation and further increases the asthmatic effect in the patients. These factors lead to increasing adoption of breathing circuits in the hospitals, clinics and ambulatory surgical center.
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In its recent report, CDC reveals that 18.4 million in the age bracket of 18 years and over, which represents 7.6% of the adults who have asthma. Increasing prevalence of various diseases such as asthma and bronchial cancer has revved up demand for devices that facilitate deep breathing in the healthcare industry. Attributed to such factors, breathing circuits in the healthcare industry will continue to witness increasing adoption.
Breathing circuits are equipped with features such as innovative face masks, tubes and heat, which provides ideal care and comfort to the patients. The healthcare professionals are also witnessed to be using breathing circuits for drug delivery to patients. Increasing demand for delivering medications to the children, old age patients and infants during emergency will continue to contribute towards the global market growth of breathing circuits.
On the other hand, several factors are likely to impact the global market growth of breathing circuits negatively. Breathing circuits used in the ambulatory surgical centers, hospitals and clinics are equipped with unidirectional valve and increasingly absorb CO2. Due to these factors, the patients resist breathing through breathing circuits. Further, increasing complexities while operating breathing circuits can be fatal during the emergency cases. In addition, preference for practicing yoga in order to enhance health conditions is further expected to impact growth of the global market negatively. Attributed to such factors, sales of the breathing circuit devices will continue to drop in the global market over the forecast period.
Hospitals to Represent a Major End User
Increasing prevalence of breathing problems such as asthma has revved up adoption of the open breathing circuits in the healthcare industry. Based on the product type, the open breathing circuits segment is projected to generate significant revenues, recording more than US$ 2,000 Mn by 2022-end. On the other hand, the semi open breathing circuits segment is projected to reflect a robust CAGR throughout the forecast period. In terms of revenue, the hospitals end users segment is projected to represent the fastest growth, accounting for more than US$ 2,000 Mn by 2017-end.
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The anesthesia application segment is projected to represent robust revenue growth, recording more than US$ 2,000 Mn by 2022-end. In contrary to this, the respiratory dysfunction application segment is projected to reflect the highest CARG through 2022.
Major players operating in the global market of breathing circuits are C. R. Bard Inc., Ambu A/S, Armstrong Medical Industries, Inc., Altera Corp., Beijing Aeonmed Co., Ltd., Becton, Dickinson and Company, Fisher & Paykel Healthcare Corporation Limited, Bio-Med Devices, Flexicare Medical Ltd., Dragerwerk AG & Co. KGaA, Teleflex Incorporated, General Electric Company and Smiths Group plc.
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