Global Anesthesia and Respiratory Devices Market Insights Forecasts to 2033

• The Global Anesthesia and Respiratory Devices Market Size was Valued at USD 43.5 Billion in 2023.
• The Market Size is Growing at a CAGR of 6.0% from 2023 to 2033.
• The Worldwide Anesthesia and Respiratory Devices Market Size is Expected to Reach USD 77.9 Billion by 2033.
• Asia-Pacific is expected to grow the fastest during the forecast period.

The Global Anesthesia and Respiratory Devices Market Size is Anticipated to Exceed USD 77.9 Billion by 2033, Growing at a CAGR of 6.0% from 2023 to 2033.

Market Overview

Anesthesia and respiratory devices are important medical equipment used in healthcare settings to help patient care during surgical procedures and manage respiratory conditions. Anesthesia devices are designed to give patients general anesthesia, which causes a temporary lack of sensation and consciousness, allowing for painless operation. The respiratory device is used for the diagnosis and treatment of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, tuberculosis, and pneumonia. Ventilation is a device which is specially providing mechanical ventilation support to patients who are unable to breathe sufficiently on their own breath. Anesthesia devices are used during surgical procedures to control pain, breathing, blood pressure, blood flow, and heart rate & rhythm. Anesthesia-induced loss of feeling or awareness in patients may cause analgesia (pain reduction or prevention), paralysis (muscle relaxation), amnesia (memory loss), or unconsciousness. Both anesthetic and respiratory equipment are critical components of modern healthcare, improving patient outcomes and overall medical treatment. These devices are subject to severe regulatory standards to assure their safety, efficacy, and quality, and their ongoing development and invention make a substantial contribution to the advancement of medical practices and patient health. The expansion of healthcare infrastructure, particularly in emerging economies, has resulted in greater investment in medical facilities such as hospitals and specialty clinics.

Report Coverage

This research report categorizes the market for the Global Anesthesia and Respiratory Devices Market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Anesthesia and Respiratory Devices Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Global Anesthesia and Respiratory Devices Market.

Driving Factors

The improving technology advancements in respiratory and anesthesia devices to innovative devices with boost the global anesthesia and respiratory devices market during the forecast period. Advanced smart ventilators with advanced algorithms adapt to patients' changing breathing needs, improving anesthetic and respiratory treatment efficiency, efficacy, patient outcomes, and recovery times, leading to widespread use by healthcare practitioners worldwide. The elderly global population is the main driving for the anesthesia and respiratory market. The higher number of the orderly population, the prevalence of age-related health issues, including respiratory disease. Governments and healthcare providers are investing in medical facilities to meet the aging population's healthcare needs, increasing demand for anesthesia and respiratory equipment. The increasing prevalence of respiratory diseases is having a substantial impact on the anesthetic and respiratory business. High demand for therapeutic devices for homecare settings and an increase in healthcare expenditures are likely to generate profitable growth prospects for the market. Hence, these factors are significantly increasing the growth of the global anesthesia and respiratory devices market during the forecast period.

Restraining Factors

The presence of a large undiagnosed population, risk factors associated with certain therapeutic and diagnostic equipment for newborns, and a low acceptance rate of new technologies due to medical professionals’ reluctance to treat, hinder market growth. Hence, these factors may hamper the market growth of the global anesthesia and respiratory market during the forecast period.

Market Segmentation

The global anesthesia and respiratory devices market share is classified into product type and end user.

• The respiratory devices segment is expected to hold the largest share of the global anesthesia and respiratory devices market during the forecast period.

Based on the product type, the global anesthesia and respiratory devices market is divided into anesthesia devices, respiratory devices, monitoring devices, diagnostic devices, consumables and accessories. Among these, the respiratory devices segment is expected to hold the largest share of the global coffee concentrate market during the forecast period. The segmental growth that can be attributed to the increasing prevalence of respiratory diseases worldwide has greatly raised the demand for breathing devices. Advancements in medical technology have resulted in the development of increasingly sophisticated and efficient breathing devices.

• The hospitals segment is expected to hold the largest share of the global anesthesia and respiratory devices market during the forecast period.   

Based on the end user, the global anesthesia and respiratory devices market is divided into hospitals, clinics, homecare settings, and ambulatory service centers. Among these, the hospitals segment is expected to hold the largest share of the global anesthesia and respiratory devices market during the forecast period. The growth can be attributable to the hospital segment is primary service centers for providing advanced medical care, including surgeries, critical care, and special treatments. Medical facilities rely on variety of anesthesia and respiratory devices, including surgical machines and ventilators, to meet diverse needs of patients across various medical disciplines, ensuring optimal patient outcomes.

Regional Segment Analysis of the Global Anesthesia and Respiratory Devices Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• Latin America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global anesthesia and respiratory devices market over the predicted timeframe.

North America is anticipated to hold the largest share of the global anesthesia and respiratory devices market over the predicted timeframe. North America is an advanced healthcare infrastructure with a high number of hospitals, skilled medical specialties, & medical facilities. A huge healthcare network generates a significant demand for anesthetic and respiratory devices to support patients' different medical services. The increasing investment in research and development in the medical technology sector to innovation and developed anesthesia and respiratory devices. Also, favorable government initiatives, high healthcare expenditure, and increased advanced medical treatment including anesthesia and respiratory care boost the global anesthesia and respiratory devices market growth in North America.

Asia-Pacific is expected to grow at the fastest pace in the global anesthesia and respiratory devices market during the forecast period. Increasing the prevalence of respiratory disorders and elderly individuals will boost the anesthesia and respiratory device market in this region. Economic development and healthcare reforms will increase funding from the government for intense R&D, hence driving the growth of this industry in Asia-Pacific region.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global anesthesia and respiratory devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of overall competition within the market.

List of Key Companies

• Becton
• ICU Medical Inc.
• 3M Company
• Koninklijke Philips N.V.
• Masimo Corporation
• Medtronic plc
• SunMed LLC
• Invacare Corporation
• Fisher & Paykel Healthcare Corporation Limited
• GE HealthCare
• Getinge AB
• Dickinson and Company
• Drägerwerk AG & Co. KGaA
• Hamilton Medical
• Teleflex Incorporated
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2022, GE Healthcare is the only manufacturer approved to offer general anesthesia delivery with end-tidal concentration control in the United States. It has developed the Aisys CS2 anesthesia machine, which is designed to support system interoperability by simplifying connections to other medical devices and hospital networks.

• In August 2022, Prescott's, Inc., a provider of sales/service for all surgical microscopes, announced the company’s expansion into the anesthesia specialty service and support sector with the acquisition of heartland medical sales & service, a provider of capital medical equipment.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global anesthesia and respiratory devices market based on the below-mentioned segments: 

Global Anesthesia and Respiratory Devices Market, By Product Type

• Anesthesia Devices
• Respiratory Devices
• Monitoring Devices
• Diagnostic Devices
• Consumables and Accessories

Global Anesthesia and Respiratory Devices Market, By End User

• Hospitals
• Clinics
• Homecare Settings
• Ambulatory Service Centers

Global Anesthesia and Respiratory Devices Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa