Sophistication and persistent technological advances by respiratory and anesthesia device manufacturers have boosted the growth of this industry. The shift of patient preference from hospital care devices to home healthcare devices has accelerated the growth of this market and encouraged the provision of easy to use and portable devices that have paved a new way to revive this once mature market. According to the new estimates of World Health Organization, COPD is predicted to be become the third leading cause of death by 2030. Moreover, approximately 13.6 million adults were diagnosed with COPD in the U.S. alone in year 2012. Rise in geriatric population suffering from COPDs and Asthma are further expected to accelerate the growth of the respiratory devices market. In addition, the annual healthcare expenditures for asthma alone are estimated at $20.7 billion in the U.S. Thus, a rise in pulmonary diseases has helped in growth of this market. Moreover, rise in geriatric population has led to rise in the number of surgeries performed in the country. The American Society of Anestheologists (ASA) estimates 40 million anesthetics being administered each year in the U.S. alone. Thus rise in the number of surgeries coupled with rise in incidence of respiratory diseases have boosted the overall growth of this industry.
Anesthesia devices include anesthesia machines and anesthesia disposables. The anesthesia machines account for the largest market of the total anesthesia devices market. The market for anesthesia delivery machines was valued to be the highest in year 2012. However, the anesthesia monitors market is expected to grow at a higher CAGR of above 8.0% from 2013 to 2019. The respiratory devices market includes respiratory equipments, disposables and respiratory measurement devices. The respiratory equipments include humidifiers, nebulizers, oxygen concentrators, positive airway pressure devices, ventilators and inhalers. The positive airway pressure devices market is expected to foresee the highest growth in the coming years of forecast from 2013 to 2019.
Geographically, Asia-Pacific is predicted to foresee the highest growth rate of over 10% from 2013 to 2019. This growth has been attributed to increase in the respiratory disease population and rising disposable incomes coupled with change in lifestyle. In addition, economic development and healthcare reforms would increase the government funding in its intensive R&D and would trigger the growth of this market in Asia-Pacific region.
The major players of respiratory and anesthesia devices market include GE Healthcare, Covidien, Drager, Teleflex, Getinge, Smith’s Medical and others.
A rise in healthcare expenditures witnessed globally has led to a shift in preference from hospital care to home care among patients. This rise in healthcare cost, compounded by the geriatric population, is driving the demand for portable medical diagnostic devices including respiratory and anesthesia devices. This has led to a visible shift in the use of respiratory and anesthesia devices from hospital operation set ups to home care healthcare monitoring. Moreover, a rise in respiratory diseases such as asthma, lung cancer, COPDs (Chronic Obstructive Pulmonary Diseases) and OSA (Obstructive Sleep Apnea) have triggered the growth of this market. There has also been an exponential rise in number of surgical procedures globally and this has led to a significant growth in demand for anesthesia devices and delivery machines. Growing healthcare cost containment pressure in the U.S. and the ongoing Euro crisis have caused a slump in the growth of these markets. Tax reforms coupled with increased regulatory compliance norms are also restraining the growth and profitability of top companies. The tax reform under question has proposed the levy of a 2.3% tax on the annual sale of all the medical devices manufacturers since beginning of this year i.e. 2013.
This has made it imperative for OEMs to tap the potential market in emerging economies such as India, China, Brazil and Russia. There has been significant growth in these emerging economies owing to increase healthcare awareness, rising disposable incomes and a rising middle class coupled with favorable insurance policies in these countries. This in turn is anticipated to make these regions the most attractive markets during the forecast period from 2011 to 2019.
The report covers in-depth analysis of estimation of anesthesia and respiratory devices market, for the period from 2013 to 2019, considering 2012 as the base year for calculations. In addition, the current market dynamics including the drivers, restraints, trends and recent developments has been captured throughout the report. The respiratory devices market has been further bifurcated under respiratory devices, respiratory disposables and respiratory measurement devices. This market has been further segmented by the respective types of devices. The anesthesia devices market has been split broadly under anesthesia machines and disposables.
The geographic chapter spans the major regions including North America, Europe, Asia and ROW (Rest of World). Similarly, market share analysis for global market for respiratory and anesthesia devices together has been provided in the competitive landscape chapter. In addition we have also separately provided the market share analysis for respiratory and anesthesia devices respectively. Some of the major players in this market are GE Healthcare, Drager, Fischer & Paykel, Covidien, Teleflex Incorporated, Philips Healthcare, ResMed and others. These market players have been profiled on the basis of attributes such as company overview, recent developments, strategies adopted by the market leaders to ensure growth, sustainability financial overview and recent developments. Our chapter on recommendations provides an understanding of barriers to the market entry and success strategy to be considered for growth in this market.