(MoneyNewsWire.Net, January 03, 2018 ) The Global Anaesthesia and Respiratory Devices Market was worth USD 18.35 billion in 2016 and estimated to be growing at a CAGR of 8.8%, to reach USD 27.97 billion by 2021. There has also been a considerable mount in number of operative conditions (surgeries) globally, which provides a key opportunity for anaesthesia devices market to grow.
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Anaesthetic devices supply accurate and continuous supply of medical gases mixed with a precise concentration of anaesthetic vapour and serves the purpose of induced coma. Respiratory devices help in elimination of mucus from the respiratory airways and thus improve pulmonary function.
The global anaesthesia and respiratory devices market is expected to witness moderate growth in the coming few years. Uninterrupted growth in this market can be accredited to the quick adoption of anaesthesia information management systems, which have been implemented as an attempt to move the industry away from paper-based record keeping systems to more proficient electronic solutions. The establishment of various government-supported national statistical databases is driving this market. High cost of advanced technology is majorly restraining the market.
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The global Anaesthesia and Respiratory devices market is segmented on the basis of device into Anaesthesia Devices and Respiratory Devices. Anaesthesia devices segment is further bifurcated into Anaesthesia Machines, Anaesthetic Monitors, Anaesthetic Vaporizers, Analgesic Machines, Anaesthetic Masks and Anaesthetic Accessories. Respiratory devices are also sub segmented into Humidifiers, Resuscitators, Breathing Circuits, Chambers, CPAP Devices, Masks, Oxygen Concentrators, Nebulizers, Ventilators, Inhalers, Tracheotomy Tubes, Oxygen Cannula, Capnographs and Spirometers. The anaesthesia machines are most commonly used in all types of surgeries as it is designed to provide an accurate and continuous supply of medical gases mixed with anaesthetic vapours.
Based on geography the market is analysed under various regions namely, North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa. North America dominates the market in terms of revenue due to the healthy innovation, constant research and development along with the sophisticated healthcare infrastructure and positive reimbursement policies of the government. Asia Pacific is expected to have the highest growth rate during the forecast period.
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Some key players in the anaesthesia and respiratory devices market are Philips Healthcare, OSI Systems and Mindray, GE Healthcare, Draegerwerk AG, Masimo, Getinge Group, Fisher and Paykel, Covidien, Airsep Corp., Alung Technologies Inc., Bomimed Inc., 3M, Carefusion Inc., Astra Zeneca, Invacare, ResMed, Teleflex Inc., and Smiths Medical.
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