Anesthesia and Respiratory Devices Market Growth in Future Scope 2023-2028

Anesthesia and respiratory devices are the medical devices used for several purposes such as anesthetic devices are used to administer and monitor anesthesia dose in critically ill patient at the time of surgery to reduce the pain and sensation, so that the surgery or operations can be carried out easily. Respiratory devices are used for diagnosis, prevention, and treatment of respiratory diseases such as asthma, cystic fibrosis, chronic obstructive pulmonary disease (COPD), and others.

Impact of COVID-19:

Many industries across the globe were severely affected by the COVID-19 pandemic, due to which the global economies were also disrupted. The virus outbreak affected more than 100 countries. Severe infection of COVID-19 virus affected respiratory system of humans. The cases were rapidly increasing around the world leading to high demand for respiratory devices for patients. Thus, the COVID-19 pandemic lucratively affected growth of the global anesthesia and respiratory devices market.

Key Takeaways:

The global anesthesia and respiratory devices market is estimated to grow, with a CAGR of 1 % over the forecast period due to increasing old-age population across the globe. For instance, as per the World Bank data, the geriatric population around the globe in 2020 increased to 9.321 % which is 723, 184, 486 from 9.102% in 2019.
North America is anticipated to witness high growth in the global anesthesia and respiratory devices market over the forecast period. This is due to presence of well-established healthcare infrastructure, rise in R&D activities and growing adoption of novel and better healthcare technologies in the region.
Major players operating in the global anesthesia and respiratory devices market are 3M, Fisher and Paykel Healthcare, Koninklijke Philips N.V., Invacare Corporation, ResMed, Inc., GE Healthcare, Dickinson and Company, Teleflex Incorporated, Becton, AstraZeneca Plc., Getinge AB, Drägerwerk AG & Co. KGaAwerk AG, OSI System, Medtronic Plc., and Smiths Medical.