GLOBAL ANESTHESIA, RESPIRATORY, AND SLEEP THERAPY DEVICES MARKET – MARKET OVERVIEW

According to statistics made by Insure Insight, the anesthesia, respiratory, and sleep therapy devices market is anticipated to witness a fast growth at a CAGR of 7.20% during the forecast period (2022 – 2029).

GLOBAL ANESTHESIA, RESPIRATORY, AND SLEEP DEVICES MARKET – MARKET DYNAMICS

The increasing awareness of the benefits of anesthesia, respiratory, and sleep therapy devices is a major factor boosting the growth of the market.

Top Driver: The increasing awareness of the benefits of anesthesia, respiratory, and sleep therapy devices will drive the growth of the market during the forecast period.

The increasing number of the elderly, the increasing domination of chronic diseases such as respiratory defects, sleep disorders, etc…, the rising demand for surgical operations, and also the developments of technologically advanced devices are the factors influencing the growth of the market.

Also, the growing demand for quality healthcare monitoring devices, and also the increasing number of ameliorated healthcare infrastructures, and the high demand for home care devices will drive the market growth during the forecast period.

Top Driver: The limitations associated with the anesthesia, respiratory, and sleep therapy devices may hinder the growth of the market

The high cost of the devices, the restrictions in regulatory compliance, and also the complications associated with the therapy devices will obstruct the growth of the anesthesia, respiratory, and sleep therapy devices market.

COVID-19 IMPACT ON THE ANESTHESIA, RESPIRATORY, AND SLEEP THERAPY DEVICES MARKET

The SARS-CoV2 virus which appeared as an unknown pneumonia-like disease in December 2019, obtained the status of a global pandemic, by March 2020. Like all other industries, the life sciences sector is also severely hit by the COVID-19 pandemic. This was mainly caused by a drop in healthcare providers and reduced patient interactions as hospitals shifted their resources to COVID-19. As the hospitals moved their attention towards developing a pandemic cure, many patients around the world started avoiding health care facility visits and postponed preventative care, which in turn dampened the demand for non-COVID-19 products and trials. For instance, since April 2020 nearly 70% of clinical trials have been affected due to suspension of enrollment and almost 13% have experienced delayed trials. However, rapid change in strategy by major market players considering the existence of pandemic conditions will boost the market growth over the forecast period.

The North American region possesses the largest share in the anesthesia, respiratory, and sleeps therapy devices market

The North American region accounted for over 17% of the market share in 2018 and is still expected to dominate the market growth during the forecast period. Some of the factors influencing the growth of the market in this region include the increasing population of the elderly, the active participation of key market players in the development of technologically advanced devices in this region, and also the government initiatives and participation in this region. Therefore, with the aforementioned, the market in this region is expected to witness the fastest growth during the forecast period.

COMPETITIVE ANALYSIS

The anesthesia, respiratory, and sleep therapy devices market is extremely competitive with the presence of local and global companies. Some of the key players in this market include:

• Phillips Healthcare
• Braun Medical Inc.
• Medtronic
• ACUTRONIC Medical Systems AG
• AstraZeneca
• Hamilton Medical
• Fisher and Paykel Healthcare LTD
• Teleflex Incorporated
• ResMed

The major key players adopt several growth strategies such as acquisitions, product launches, and collaborations which contributes immensely to the growth of the anesthesia, respiratory, and sleep therapy devices market globally.

Phillips Healthcare

Overview: This is the global leader in the anesthesia, respiratory, and sleeps therapy devices market, with many sub-segments.

Portfolio: the company majorly deals with products in the respiratory space, with strong domination in sleep apnoea and ventilation.

Scope of the Report

• By Type
• Anesthesia devices
• Respiratory devices
• Therapeutic Obstructive Apnoea devices
• Sleep Diagnostic devices

• By End-User
• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Specialized Care Centers

• By Region
• North America (the United States & Canada)
• Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)
• Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America, and Rest of The World)

Keys reasons to purchasing this report

• It provides a technological development map over time to understand the industry’s growth rate and indicates how the Anesthesia, Respiratory, and Sleep Therapy Devices market is evolving.
• The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Anesthesia, Respiratory, and Sleep Therapy Devices submarket will be the main driver of the overall market from 2019 to 2028.
• It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a seven-year estimate based on how the market is predicted to grow and shows what will market shares of the national markets change by 2028 and which nation will lead the market in 2028?