The Global Market for Anesthesia and Respiratory Devices Market to Grow To Nearly $19.6 Billion By 2018
Wellesley, Mass (PRWEB) March 07, 2014
According to a new technical market research report Anesthesia and Respiratory Devices: Global Markets, from BCC Research (http://www.bccresearch.com), the global market for anesthesia and respiratory devices was valued at $11.1 billion in 2012 and was estimated at $12.4 billion for 2013. BCC Research expects the market to grow to nearly $19.6 billion by 2018, and register a five-year compound annual growth rate of 9.5% from 2013 to 2018.
Anesthesia and respiratory devices have, over the last few years, undergone vast technological advancements largely due to the need for advanced and innovative new machines and equipment. The evolution of standalone machines to fully integrated systems and ongoing innovation in these products have led to increased productivity, efficiency, and efficacy of data.
Indeed, the availability of highly sophisticated networked workstations comprising anesthesia monitors and anesthesia information systems has provided buyers with numerous options leading to an overall growth in this sector. Increases in the incidences of chronic obstructive pulmonary diseases (COPD), sleep apnea, and asthma along with awareness that these disorders can be easily treated and managed by devices in the home settings has resulted in the growing demand for the devices.
The wide applicability of respiratory devices and the fact that they can be easily used by patients themselves in their homes provide a larger market share compared to anesthetic devices. Because respiratory devices are used in emergency care, home care and non-acute care units, while anesthetic devices are mostly used in operating theaters and physicians clinics, stronger growth is anticipated in the respiratory devices segment. However, the slow turnaround of economies across the globe is impacting the overall devices market in terms of volume and revenue.
The global anesthesia and respiratory devices market is set to grow, albeit at varying growth rates across different regions. While U.S. and Europe accounted for the higher growth in 2012, the scenario is expected to change with Asia slated to overtake these regions by 2018. Given the cost arbitrage and reduced taxation on manufactured products in Asian countries such as India and China, manufacturers are now establishing production facilities in this region.
Improving access to health care, increasing R&D spending, and technological advances will drive significant growth in this market for the foreseeable future.
This technical market research report incorporates an in-depth analysis of anesthetic and respiratory devices market, including market estimations and trends through 2018. Major players, competitive intelligence, innovative technologies, market dynamics, and geographic opportunities are discussed. The report also discusses recent developments and product portfolios of major players in the industry. In addition, patent analyses focus on providing technological trends in geographies such as the U.S., Europe, and Japan. The report also presents market analysis and estimates CAGRs for the global market for anesthetic and respiratory devices.
This report is intended for anesthetic and respiratory devices manufacturers and new entrants; equipment distributors, hospitals, and other healthcare service providers; various other life sciences companies; and research institutes, associations, and academicians.