Anesthesia And Respiratory Devices Market Size, Share & Trends Analysis Report By Product (Respiratory Devices (Machines, Disposables), Anesthesia Devices (Equipment)), By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global anesthesia and respiratory devices market size was valued at USD 50.4 billion in 2023 and is projected to grow at a CAGR of 5.8% from 2024 to 2030. This growth is driven by the increasing prevalence of chronic respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD), which is boosting the demand for respiratory devices. In addition, the rising number of surgical procedures worldwide due to an aging population and advancements in surgical techniques are fueling the need for anesthesia devices.

Technological innovations are playing a pivotal role in the expansion of the anesthesia and respiratory devices market. The development of portable and user-friendly devices has made it easier for healthcare providers to deliver effective treatment in various settings, including home care. These advancements not only enhance patient comfort and compliance but also improve the efficiency of healthcare delivery. Innovations such as wireless monitoring systems, smart inhalers, and advanced anesthesia machines with integrated safety features are revolutionizing patient care.

Moreover, the integration of artificial intelligence and machine learning in these devices is enabling more precise and personalized treatment, further driving market growth. Furthermore, the growing awareness about the importance of respiratory health is significantly contributing to market expansion.

Product Insights

Respiratory devices accounted for a revenue share of 67.7% in 2023 attributed to the high prevalence of chronic respiratory diseases. Products such as ventilators, nebulizers, and oxygen concentrators are in high demand due to their critical role in managing these conditions. In addition, technological advancements in respiratory devices, including the development of portable and user-friendly models, have made them more accessible and convenient for both healthcare providers and patients. The increasing awareness about respiratory health and the importance of early diagnosis and treatment are also contributing to the growth of this segment.

The anesthesia devices segment is expected to grow at a CAGR of 5.6% during the forecast period driven by the rising number of surgical procedures globally, resulting from an aging population and advancements in surgical techniques. Innovations in anesthesia technology, such as the integration of advanced monitoring systems and the development of devices with enhanced safety features, are improving the efficiency and effectiveness of anesthesia delivery. Moreover, the increasing focus on outpatient surgeries and minimally invasive procedures is boosting the demand for anesthesia devices.

Regional Insights

North America anesthesia and respiratory devices market dominated the market in 2023 due to the widespread adoption of advanced technology and continual advancements. This has resulted in extensive and ongoing utilization of anesthesia and respiratory equipment, further contributing to its significant market penetration. Moreover, the expansion of healthcare facilities and services, particularly hospitals, has been a key factor influencing the growth of the region's anesthesia and respiratory devices market. In addition, demographic shifts such as an aging population, increased health awareness, and rising surgical procedures have played crucial roles in shaping the market dynamics in North America.

U.S. Anesthesia And Respiratory Devices Market Trends

The U.S. accounted for a significant market share of the North American anesthesia and respiratory devices market in 2023 driven by factors such as the growing elderly population, increased completion rates of casualty surgeries, and the availability of reimbursement for respiratory and anesthesia devices. For example, the Centers for Disease Control & Prevention (CDC) reported that more than 16.0 million Americans were affected by COPD.

Europe Anesthesia And Respiratory Devices Market Trends

Europe emerged as a lucrative region for the anesthesia and respiratory devices market in 2023. The region’s advanced healthcare infrastructure, coupled with a high prevalence of chronic respiratory diseases, has created a strong demand for both anesthesia and respiratory devices. In addition, Europe has a significant aging population, increasing the need for surgical procedures and anesthesia devices. The presence of major market players and ongoing technological advancements further bolster this region’s growth.

The UK anesthesia and respiratory devices market is expected to grow rapidly in the coming years, driven by several factors. Notably, the increasing number of surgical procedures and the rising incidence of respiratory conditions, such as asthma and COPD, which affect 1.2 million people in the UK, are significant contributors. COPD exacerbations are the second most common cause of emergency hospital admissions, accounting for 1 in 8 UK hospital admissions, highlighting the urgent need for effective respiratory devices. Furthermore, the adoption of advanced medical technologies and the presence of a robust healthcare infrastructure are key elements supporting the market expansion.

Asia Pacific Anesthesia And Respiratory Devices Market Trends

The anesthesia and respiratory devices market in Asia Pacific is anticipated to witness significant growth, driven by a rise in respiratory issues and an aging population. Increased government funding for research and development, in line with economic development and healthcare reforms, is also expected to fuel industry growth in the region.

Japan's anesthesia and respiratory devices market held a substantial market share in 2023. The country's increasing prevalence of chronic illnesses and elderly population is projected to drive demand for medical equipment. In addition, the market is being propelled by the growing incidence of respiratory disorders and technological advancements in device technology.

Key Anesthesia And Respiratory Devices Company Insights

Some key companies in the anesthesia and respiratory devices market include General Electric Company, Medtronic, Teleflex Incorporated, and others. Despite the market's fragmentation, these companies are actively pursuing strategic initiatives to solidify their market positions. Notable strategies include geographic expansion, the development of innovative products, forging strategic partnerships, engaging in collaborative ventures, and pursuing mergers and acquisitions.

• Medtronic plc (Medtronic) is a medical technology company that offers a range of respiratory devices, including ventilators and airway management products. Medtronic’s focus on technological advancements, such as the integration of smart technologies and enhanced monitoring systems, has strengthened its position in the market.

• Teleflex Incorporated is known for its advanced airway management and anesthesia products. The company’s LMA and Rüsch brands are well-regarded for their innovative designs and effectiveness in clinical settings. Teleflex’s Arrow branded pain management portfolio, which includes catheters and disposable pain pumps, is designed to enhance patient comfort and outcomes during and after surgical procedures.

Recent Developments

• In September 2024, Knack Global announced the acquisition of Merrick Management, Inc., a provider of revenue cycle management solutions for anesthesia practices, marking a significant expansion of Knack’s offerings into the anesthesia market as Merrick’s experienced management team is expected to continue to play a pivotal role in leading Knack’s newly formed Anesthesia Services division.

• In June 2024, GHR Healthcare acquired United Anesthesia, a CRNA and Anesthesiologist staffing firm based in North Carolina, U.S. This strategic merger is expected to allow GHR Healthcare to expand its service offerings and providing comprehensive healthcare staffing solutions to clients nationwide.

• In January 2024, GlaxoSmithKline (GSK) strategically acquired Aiolos Bio, a biopharmaceutical company focused on innovative asthma treatments. Aiolos Bio's advanced pipeline of therapies for respiratory and inflammatory conditions offered GSK promising opportunities for growth and enhanced patient care.

Anesthesia and Respiratory Devices Market Report Scope

Global Anesthesia And Respiratory Devices Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global anesthesia and respiratory devices market report based on product and region.

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Respiratory Devices

    • Respiratory Equipment

      • Humidifiers

        • Heat Humidifiers

        • Heated Wire Breathing Circuits

        • Heat Exchangers

        • Pass Over Humidifiers

      • Nebulizers

        • Pneumatic Nebulizers

        • Mesh Nebulizers

        • Ultrasonic Nebulizers

      • Oxygen Concentrator

        • Fixed Oxygen Concentrators

        • Portable Oxygen Concentrators

      • Positive Airway Pressure Devices

        • Bilevel & Automatic Positive Airway Pressure Devices

        • Continuous Positive Airway Pressure Devices

      • Reusable Resuscitators

      • Ventilators

        • Adult Ventilators

        • Neonatal Ventilators

      • Respiratory Inhalers

        • Dry Powdered Inhalers

        • Metered Dose Inhalers

    • Respiratory Disposables

      • Disposable Oxygen Masks

      • Resuscitators

      • Tracheostomy Tubes

      • Oxygen Cannula

    • Respiratory Measurement Devices

      • Pulse Oximetry systems

      • Capnographs

      • Spirometers

      • Peak Flowmeters

  • Anesthesia Devices

    • Anesthesia Machines

      • Anesthesia Workstation

      • Anesthesia Delivery Machines

        • Portable

        • Standalone

      • Anesthesia Ventilators

      • Anesthesia Monitors

    • Anesthesia Disposables

      • Anesthesia Masks

      • Anesthesia Accessories

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE