Respiratory and Anesthesia Disposables Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Respiratory and Anesthesia Disposables Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Respiratory and Anesthesia Disposables Market studied is expected to grow with an estimated CAGR of 5.3%, over the forecast period.

The present scenario evidently states that the pandemic will continue to determine various aspects of the healthcare industry in foreseeable future, as a result, the demand for disposables such as masks, filters, nasal cannulas, and breathing bags are anticipated to grow exponentially throughout the forecast period. Since several governments worldwide have advised and recommended wearing a mask in public spaces, as a measure to curb the spread of infection, this is likely to have a positive impact on the growth of the market.

Surging incidences of respiratory diseases on an account of environmental pollution, preference toward minimally invasive treatments, changes in lifestyle, emergency surgeries, and smoking addiction are bolstering the growth of the respiratory and anesthesia disposables market. The respiratory and anesthesia disposables market growth is majorly supplemented by the upsurge in the risk of communicable infectious diseases, which allows the physicians to discard the instrument after a single use. Respiratory diseases such as bronchitis, chronic obstructive lung disease (COPD), lung cancer, hypersensitivity pneumonitis, lung fibrosis, obstructive sleep apnea (OSA), and chronic rhinosinusitis, among others are some of the diseases that may require respiratory disposables for the proper functioning of the lungs in operation theatres, thereby, stimulating the demand of these consumables. For instance, as per the Global Asthma Report, 2018 chronic respiratory diseases affect more than 1 billion people, worldwide.

Furthermore, growth in surgical procedures owing to chronic diseases amongst the population, rising cases of traumatic conditions, and increasing enrollments in emergency hospital departments are anticipated to augment the market growth. The past two decades have observed an increase in the number of laryngoscopy procedures performed worldwide. Shifting preference of the patient population toward minimally invasive procedures has greatly impacted the uptake of laryngoscopy treatment. Laryngoscopy makes use of disposable blades and handles which further adds up to the market growth. Thus, growth in the number of respiratory disorders coupled with the increasing number of surgeries every year are most likely to bolster the growth of the Respiratory and Anesthesia Disposables Market over the analysis period.

Key Market TrendsAsthma Segment is Expected to Project a Significant Growth in the Respiratory and Anesthesia Disposables Market

Asthma is viewed as one of the world's most common non-communicable lung disorders and is likewise a dangerous condition affecting a patient's standard breathing pattern. It is a persistent condition that limits the air passages of the lungs, triggering attacks of shortness of breath, bronchospasm, and reversible interruption of airflow. In addition, there is an enormous rise in the number of cigarette smokers and environmental pollution, which adds to asthma manifestations. Likewise, the growth in industrialization has surged the incidences of asthma, which, over the analysis period, would drive the demand for respiratory and anesthesia disposables. A significant rise in the prevalence of asthma has resulted in a notable increase in the patient population, which has, ultimately, boost the demand for respiratory disposables. As per the data published by World Health Organization (WHO), in 2021, Asthma is a non-communicable infection (NCD), affecting both adults and children. Worldwide, it has affected approximately 262 million individuals in 2019 and caused 461,000 deaths.

Strategic investments in the R&D of the asthma drugs along with acquisitions, mergers, and growth in initiatives undertaken by governments and organizations are key approaches by the market players in the respiratory and anesthesia disposables market. For instance, the Centers for Disease Control and Prevention (CDC) - National Asthma Control Program (NACP) offers funds for educating and creating awareness among asthma-affected patients. Therefore, these initiatives are anticipated to encourage the adoption of disposables to avoid cross-contamination in patients, thereby, driving the growth of the market throughout the forecast period.

North America is Expected to Hold a Major Share of the Market throughout the Forecast Period

Within North America, the United States has held the major share of the market and is expected to dominate over the forecast period. This is mainly attributable to the rising prevalence of respiratory diseases among Americans. For instance, as per the data published by Lung Organization, in 2019, the incidence of chronic obstructive pulmonary disease (COPD) within the United States is on the rise. Around 9 million adults (aged 18 or older) suffered from chronic bronchitis. Approximately, 2 million had Emphysema and 5.4 million suffered from COPD only. Moreover, these respiratory chronic illnesses are further supplemented with the ever-increasing population of smokers in this region. For instance, as per the Centers for Disease Control and Prevention, in 2021, almost 40 million American adults smoke cigarettes. Smoking greatly increases the risk of other lung disorders that may result in fatal conditions and ultimately surgeries. Therefore, the enormous burden of the surging prevalence of respiratory diseases coupled with the COVID-19 outbreak has substantially amplified the demand for respiratory and anesthesia disposables and is anticipated to continue throughout the forecast period.

Additionally, this market is driven by the growth in the number of surgeries, increasing elderly populace with an upsurge in chronic conditions, and progressions in anesthesia technologies. As per the data published by the American Society of Plastic Surgeons (ASPS), in 2019, nearly 16.3 million cosmetic minimally-invasive procedures were performed in the United States, in turn, increasing the demand for anesthesia disposables in surgical operations. Therefore, these aforementioned factors are collectively driving the growth of the market in North America.

Competitive Landscape

The Respiratory and Anesthesia Disposables Market is a highly fragmented market with several players across the globe. In terms of market share, various major players currently dominate the market. With an increase in product launches and approvals, many regional players are expected to be part of the Respiratory and Anesthesia Disposables Market over the forecast period. Some of the major players of the market are Medtronic, Koninklijke Philips N.V., Boston Scientific Corporation, Becton, Dickinson and Company (BD), Teleflex Incorporated, ResMed, Smiths Group plc., SunMed, Armstrong Medical Industries, Inc., Airways Corporation, and Allied Healthcare Products, Inc. among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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Companies Mentioned
 
Airways Corporation
Armstrong Medical Industries, Inc.
Becton, Dickinson and Company
Boston Scientific Corporation
Koninklijke Philips N.V.
Medtronic
ResMed
Smiths Group plc.
SunMed
Teleflex Incorporated

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