Anesthesia Breathing Circuits Market revenue to surpass USD 2 Billion by 2035, says Research Nester
Leading anesthesia breathing circuits market players include Armstrong Medical Ltd, Dragerwerk AG & Co. KGaA, Ambu A/S, Altera Corporation, C.R.Bard, Inc., Teleflex Incorporated, Bio-Med Devices, Inc., Becton, Dickinson and Company (BD), Fisher & Paykel Healthcare Corporation Limited, and Smiths Group plc,
New York, Sept. 04, 2023 (GLOBE NEWSWIRE) — The global anesthesia breathing circuits market size is predicted to expand at ~3% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 2 billion by the end of 2035, up from a revenue of ~USD 1 billion in the year 2022.The growth of the sector is expected to be dominated by a surge in the prevalence of asthma. Globally, there are around 300 million people suffering from asthma, while another 100 million people are thought to be at risk. Hence, the use of anesthesia breathing circuits is set to rise.
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market in North America is estimated to grow at a share of 35% over the forecast period. This growth could be influenced by growing disposable income in this region. In the United States, disposable personal income increased from about USD 19872 in May to close USD to 19940 in June of 2023. Hence, they are expected to invest more in anesthesia breathing circuits since they can afford it.
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Rising Geriatric Population to Influence the Market Expansion in Asia Pacific
The Asia Pacific market for anesthesia breathing circuits is also expected to grow at a share of 28% by the end of 2035. The growth of the market is set to grow on account of the rising geriatric population. One in four persons in Asia and the Pacific is expected to be older than 60 by 2050. Between 2010 and 2050, the region’s elder population (those over 60) will quadruple, growing to around 2 billion individuals. Age-related physical changes result in decreased lung function. As bones begin to thin, the ribcage’s shape changes, affecting how much it may expand to accommodate breathing. The capacity to inhale and exhale is impacted by the weakening of the diaphragm, which maintains your body’s motions while you breathe. Hence, the anesthesia breathing circuits market is anticipated to grow in this region.
Anesthesia Breathing Circuits, Segmentation by Type
- Open
- Semi
- Closed
The closed segment is poised to garner the highest share of 44% over the coming years. This growth is expected to be dominated by the low cost of this method. For instance, according to the WHO, low- and middle-income countries (LMIC) account for about 90% of deaths from COPD in those under the age of 70. Additionally, according to disability-adjusted life years, COPD is the sixth most common cause of poor health worldwide.. Hence, this method could be beneficial in such nations.
Anesthesia Breathing Circuits, Segmentation by End-User
- Hospitals
- Clinics
- Ambulatory Surgery Centers
The hospitals segment is expected to capture the highest share of 45% over the forecast period. The major factor influencing this segment’s growth is the growing investment in the healthcare sector. In 2021, the amount spent on health care in the United States increased by 2.7 percent to USD 4.3 trillion, or USD 12,914 per person. Hence, improvements could be made in hospitals such as advancing the equipment and adopting digitalization. Therefore, the preference of people for hospital for anesthesia breathing treatment is expected to rise further boosting the market growth.
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Anesthesia Breathing Circuits, Segmentation by Application
- Anesthesia
- Respiratory Dysfunction
A few of the well-known market leaders in the anesthesia breathing circuits market that are profiled by Research Nester are Armstrong Medical Ltd, Dragerwerk AG & Co. KGaA, Ambu A/S, Altera Corporation, C.R.Bard, Inc., Teleflex Incorporated, Bio-Med Devices, Inc., Becton, Dickinson and Company (BD), Fisher & Paykel Healthcare Corporation Limited, Smiths Group plc, and others.
Recent Development in the Market
- The Middle East market and the Gulf Cooperation Council (GCC) region have seen the introduction of AquaVENT VT, Armstrong Medical Ltd.’s most cutting-edge heated breathing circuit technology.
- The debut of the closed-circuit breathing equipment Drager BG ProAir has been announced by Drigerwerk AG & Co. KGaA. This cutting-edge breathing circuit offers novel characteristics to safeguard firemen participating in lengthy deployments, such as those in basements, tunnels, towering buildings, and intricate constructions.
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