Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- A market research report published by Transparency Market Research (TMR) studies the global anesthesia and respiratory devices market in depth to present a fair case of the market conditions. The market research report, titled "Anesthesia and Respiratory Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", states that the primary force driving the global anesthesia and respiratory devices market is the increase in the incidence of COPD or chronic obstructive pulmonary disease. 13.6 million adults were diagnosed with COPD in the U.S. alone in 2012.
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The global anesthesia and respiratory devices market has witnessed tremendous sophistication with persistent technological advances in the last few years. A crucial growth factor for the global anesthesia and respiratory devices market is the growth in the number of patients who are opting for home healthcare devices as compared to hospital care devices. The need of patients for portable devices has accelerated the growth of this market. The rising number of geriatrics suffering from COPD and asthma is also contributing to the growth of this market. Asthma remains a significant contributor to the global anesthesia and respiratory devices market, as expenditure on the management of this disease was pegged at US$20.7 billion in the U.S. alone. The global anesthesia and respiratory devices market is also being fueled by pulmonary and respiratory diseases, which are leading to a rise in surgeries among geriatrics. According to The American Society of Anesthesiologists (ASA), the U.S. alone accounts for administration of 40 million anesthesia treatments every year. Overall, the growth in surgeries along with rising incidences of respiratory diseases has led to expansion of the global anesthetic and respiratory devices market.
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The global anesthesia devices market can be categorized into anesthesia machines and anesthesia disposables. Out of these segments, anesthesia machines dominate the anesthesia devices market. The anesthesia delivery machines market held the greatest value in 2012. However, in the coming five years, the anesthesia monitors market is slated to grow at a CAGR of above 8.0%, which will be higher than those of anesthesia delivery machines. The global respiratory devices market is segmented into respiratory disposables, equipment, and respiratory measurement devices. The respiratory equipment segment is further divided into nebulizers, humidifiers, positive airway pressure devices, oxygen concentrators, ventilators, and inhalers. In the coming five years, the positive airway pressure devices market is likely to witness the fastest growth.
In terms of geography, the market research suggests that Asia Pacific will grow at a rate of 10% from 2013 to 2019. This growth rate is attributable to increasing respiratory diseases due to pollution, rising disposable incomes, and changing lifestyles. Furthermore, health reforms by the government, stupendous economic development, and increasing investments in research and development activities will lead to growth of the anesthesia and respiratory devices market in Asia Pacific.
Some of the key players in the global anesthesia and respiratory devices market are Teleflex, GE Healthcare, Drager, Getinge, Covidien, Smith's Medical.
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Source:Transparency Market Research