WELLESLEY, Mass., May 31, 2018 (GLOBE NEWSWIRE) -- The considerable rise in the number of surgeries, increased air pollution, allergies and certain diseases all present significant opportunities in the global market for anesthesia and respiratory devices. A recent study by BCC Research projects that this market will reach $26.7 billion by 2022 and examines it by product type and region.
Anesthesia and respiratory devices can resolve various acute and chronic respiratory disorders that are attributed to environmental or lifestyle factors. In addition, anesthesia and respiratory support are required in the treatment and management of critically ill patients, surgeries and life support functions. From an estimated $21.1 billion in 2017, this market is forecast to expand at a five-year compound annual growth rate (CAGR) of 4.8%, according to BCC Research’s report, Anesthesia & Respiratory Devices: Global Markets to 2022 .
The report includes anesthesia and respiratory devices segregated on the basis of their nature and usage, falling into the following main categories: airway and anesthesia devices, anesthesia machines, pain management devices, regional anesthesia disposables, respiratory devices, respiratory disposables, respiratory measurement devices and sleep apnea diagnostic systems.
Research Highlights
- Respiratory devices, respiratory measurement devices, and respiratory disposables capture more than 75% of the global market.
- Anesthesia machines have an abundant scope of growth due to technological advancements and increasing healthcare automation. Sleep apnea diagnostic systems are also expected to undergo a higher growth rate.
- North America dominates by region, with a 47% market share in 2017 and a projected market value of $12.4 billion in 2022.
“With changing global demographics, stagnating economies, and the potential risks anticipated in developed markets such as North America and Europe, medical device manufacturers are shifting their focus toward emerging markets,” said Robert G. Hunter, BCC Research senior editor, healthcare. “Asia-Pacific is the highest potential growth zone. The two highest-populated countries in the world, China and India, make Asia-Pacific a magnet for investments and are attracting manufacturers to the region.”
Key Conditions Bolster Respiratory Devices Market
Increases in the incidences of chronic obstructive pulmonary disease (COPD) and obstructive sleep apnea (OSA) are driving the respiratory devices market. Because COPD is a chronic disease, it creates abundant demand for respiratory devices such as inhalers, nebulizers, spirometers, oximeters, breath filters, and respiratory disposables. The use of respiratory devices is mandatory for the management and treatment of OSA. After COPD, OSA contributes the highest share in the use of respiratory devices.
About BCC Research BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com . Follow BCC Research on Twitter at @BCCResearch .
Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.
