The launch of advanced anesthesia and Respiratory Devices by major vendors is a significant positive trend being witnessed by the market in recent years. Due to the highly competitive nature of the market and the presence of various players, companies are focusing on advanced technologies to manufacture these devices for various applications. For instance, In October 2014, Covidien (a subsidiary of Medtronic Plc) launched superDimension navigation system software that helps in visualization of airways of lungs during COPD treatment procedures. In September 2015, Philips Respironics (a subsidiary of Koninklijke Philips N.V.) exhibited its sleep-disordered breathing and respiratory solutions including Dream Family connected positive airway pressure (PAP) therapy device; Amara View minimal contact, full-face masks that are used for the treatment of sleep apnea patients; SimplyGo Mini lightest portable oxygen concentrator used for the treatment of respiratory disorders; and VitaBreath, a lightweight therapy support device for the treatment of COPD.
ANESTHESIA AND Respiratory Devices Market TO GROW TO $25.1 BILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY.
The Business Research Company expects the anesthesia and respiratory devices market to grow to $25.1 Billion in 2020. Europe was the largest region in the Anesthesia and Respiratory Devices market in 2016, accounting for $6.2 billion or 35.7% of the market share.
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The chart below shows the year-on-year growth of the global anesthesia and respiratory devices market during 2016 - 2020.
According to The Business Research Company’s Medical Equipment Consultant, Sandeep Kumar Bejini, sleep apnea patients are increasing preference to home care treatment due to its cost effectiveness and convenience. This is one of the trends in the anesthesia and respiratory market. Earlier Sleep Apnea diagnosis was a tedious process of overnight monitoring in laboratories which can now be done at home and its diagnosis in laboratories and hospitals is inconvenient and expensive, but the detection device by the Toronto Rehabilitation Institute makes it much easier and simpler and an in-house practice where in a user can wear a mask and the breathing pattern is stored onto a downloadable memory chip, assessed later Medtronic was the largest company in the anesthesia and respiratory market with a 41% share. It is a medical technology, services and Solutions Company and serves hospitals, physicians, clinicians and patients in approximately 160 countries worldwide. Medtronic was founded in 1949 and is headquartered in Dublin, Ireland. Medtronic generated revenues of $7.21 billion from the patient monitoring and recovery segment in 2015. The company had a market capitalization of $123.3 billion as of July 2016. Medtronic’s growth strategy is to capture untapped business opportunities in emerging markets through public and private partnerships.
Medtronic was the largest company in the anaesthesia and respiratory market. It is a medical technology, services and Solutions Company and serves hospitals, physicians, clinicians and patients in approximately 160 countries worldwide. Medtronic generated revenues of $7.21 billion from the patient monitoring and recovery segment in 2015. Medtronic’s growth strategy is to capture untapped business opportunities in emerging markets through public and private partnerships. Medtronic entered into a partnership with the Chengdu government in Sichuan Province to manufacture portable haemodialysis equipment.
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The global anesthesia and respiratory devices market is segmented into respiratory devices and anesthesia devices. The respiratory devices segment accounts for a major share in the market due to its wide usage in healthcare institutions, home healthcare and ambulances, compared to anesthesia devices. Rising incidences of obstructive sleep apnea, chronic obstructive pulmonary diseases among aging population are the driving factors in the global anesthesia and respiratory devices market. Rising healthcare expenditures, medical tourism, and emerging economies provide growth opportunities these devices in the market.
Anesthesia Devices are used to support the administration of anesthetics and medical gases such as nitrous oxide for the temporary induced loss of sensation or awareness. Anesthetics may include analgesia (relief from or prevention of pain) and temporary paralysis (muscle relaxation). Anesthesia can be introduced into the body orally in liquid form, nasally in gas form, and intravenously through injections. There are three types of anesthesia: general anesthesia (administered via the patient's circulatory system by a combination of inhaled gas and injected drugs); local anesthesia (can be administered via injection to the site for minor surgeries); and regional anesthesia (involves injection of a local anesthetic around major nerves or the spinal cord to block pain from a larger but still limited part of the body).
Respiratory Devices are used to provide medication or assist a patient who is having difficulty in breathing and cannot achieve adequate oxygen levels to maintain life. Patients with respiratory disorders such as asthma, cystic fibrosis, chronic obstructive pulmonary disease, and acute respiratory distress syndrome require respiratory devices.
Anesthesia and Respiratory Devices Global Market Briefing is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company.
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