Acumen Research and Consulting recently published report titled “Breathing Circuits Market Analysis Report and Region Forecast, 2022 – 2030”
LOS ANGELES, Nov. 07, 2022 (GLOBE NEWSWIRE) — The Global Breathing Circuits Market Size accounted for USD 1,093.6 Million in 2021 and is projected to achieve a market size of USD 1,774.2 Million by 2030 rising at a CAGR of 5.6% from 2022 to 2030.
Breathing Circuits Market Statistics
- Global breathing circuits market value was USD 1,093.6 Million in 2021 and expected to grow at CAGR of 5.6% from 2022 to 2030
- North America breathing circuits market revenue over 50% market share in 2021
- As per WHO statistics, chronic obstructive pulmonary disease killed over 3 million people in 2019
- Asia-Pacific breathing circuits market growth will record noteworthy CAGR of from 2022 to 2030
- Among type, open breathing circuits sub-segment gathered more than 35% of the overall market share in 2021
- Based on end-user, hospitals occupied around 40% of the total market share
- Increasing advancements in these circuits is a global breathing circuits market trend fueling the industry demand
Breathing Circuits Market Growth Factors
- Increasing incidence of breathing disorders
- Growing susceptibility to several airborne allergens
- Rising occurrence of cases such as asthma
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Breathing Circuits Market Report Coverage:
|Market||Breathing Circuits Market|
|Breathing Circuits Market Size 2021||USD 1,093.6 Million|
|Breathing Circuits Market Forecast 2030||USD 1,774.2 Million|
|Breathing Circuits Market CAGR During 2022 – 2030||5.6%|
|Breathing Circuits Market Analysis Period||2018 – 2030|
|Breathing Circuits Market Base Year||2021|
|Breathing Circuits Market Forecast Data||2022 – 2030|
|Segments Covered||By Type, By Application, By End-User, And By Geography|
|Breathing Circuits Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Ambu A/S, General Electric Company, Smiths Group plc, Fisher & Paykel Healthcare Corporation Limited, Smiths Medical, Airon Corporation, HERSILL, S.L., CR Bard Inc., Altera Corp., Armstrong Medical Industries, Inc., and Becton, Dickinson and Company.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Breathing Circuits Market Dynamics
The rising prevalence of chronic inflammation caused by smoking is increasing the global demand for breathing circuits. Demand for breathing circuits is also linked to rising chronic coughing, asthma prevalence, and bronchial cancer. According to the CDC, nearly 18.4 million adults aged 18 years or older, or 7.6% of adults, have asthma. The prevalence of these illnesses has resulted in an increase in demand for deep breathing. The breathing circuits provide sedative gases and oxygen while removing CO2. This device functions as a gas storage device, protecting the patient from unnecessary pressure within the breathing market.
Advanced Features to Underscore Profitable Opportunities
Manufacturers in the global breathing circuits market are concentrating on integrating moisture channels and cutting-edge heat, tubes, and face masks to ensure that patients receive optimal comfort and care. The growing number of crisis cases in hospitals is driving up sales of breathing circuits in the medical services industry. As these devices reduce the risk of contamination from the environment, breathing circuits are increasingly being used to deliver medications to the elderly, newborn children, and children. Furthermore, the increasing prevalence of barotrauma has significantly aided the growth of the global breathing circuits market.
Complexities in Device to Reduce Demand
Unidirectional valves and increased carbon dioxide assimilation can cause breathing resistance. Furthermore, various complexities in the operation of breathing circuits continue to pose significant challenges. Patients are increasingly turning to yoga to help them deal with health issues like bronchial malignant growth, chronic coughing, and asthma. Based on these factors, the global breathing circuits market is expected to exhibit restraint development over the forecast period.
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Breathing Circuits Market Segmentation
The global breathing circuits market is divided into type, application, end-user and regions. Based on types, the market is categorized into open breathing circuits, semi-open breathing circuits, semi-closed breathing circuits, and closed breathing circuits. Application segment is classified into anesthesia, respiratory dysfunction, and other applications. Furthermore, end-user segment is sub-segmented into hospitals, clinics, ambulatory surgical centers, and others.
Breathing Circuits Market Share
Open Breathing Circuit Products to Represent a Leading Segment
As asthma and other breathing problems become more common, interest in open breathing circuits will grow. Based on product type, the open breathing circuit segment is expected to see significant revenue growth, with an estimated value of over US$ 1.1 billion by the end of 2025. In contrast, the semi-open breathing circuits segment is expected to enrol the highest CAGR during the forecast time frame.
According to end users, the hospitals segment is expected to see significant revenue growth, with an estimated value of over US$ 800 million by the end of 2020. By application, the clinic section is expected to experience rapid revenue growth, with an estimated value of more than US$ 750 million by the end of 2025. However, the ambulatory settings application portion must enlist a solid CAGR during the forecast time frame.
Breathing Circuits Market Regional Growth
The global breathing circuits market is divided into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America currently holds the largest share of the global breathing circuits market, owing to the rate of industrialization and urbanization. As noted by medical associations and regulatory bodies, the region’s urbanization and industrialization have significantly increased the number of asthma and cardiac disease patients. Multiple studies have shown that obesity and lifestyle changes are increasing respiratory illness. As a result, breathing circuits were widely adopted. Manufacturers have taken strategic steps to accelerate growth and meet the growing demand for breathing circuits. China is one of the world’s largest manufacturing hubs, with a high prevalence of respiratory, cardiovascular, and neurovascular diseases. Several studies have shown an increase in the number of surgeries for patients with respiratory, cardiac, and neurologic illnesses. A significant level of anesthesia drugs is required to keep patients sedative during surgeries. Thus, the use of breathing circuits has ensured that drugs are distributed optimally and continuously during surgeries.
Chinese authorities have worked with a U.S. healthcare association to develop better products for delivering anesthesia and related drugs to patients. Furthermore, health strokes have had a significant impact on healthcare expenditures and the Chinese economy. As the second largest market for asthma inhalers, Europe is the second largest market for breathing circuit devices. Every year, 70% of children in Europe die as a result of respiratory diseases. The rapid adoption of anesthesia information management systems has resulted in more capable electronic solutions that provide better record keeping systems. Increasing patient awareness of respiratory diseases and the importance of clean air paved the way for the region’s early and rapid adoption of breathing circuit devices.
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Breathing Circuits Market Players
Leading market players operating in the global breathing circuits market include Ambu A/S, General Electric Company, Altera Corp., Smiths Group plc, Smiths Medical, Becton, Dickinson and Company, Fisher & Paykel Healthcare Corporation Limited, HERSILL, S.L., Airon Corporation, CR Bard Inc., and Armstrong Medical Industries, Inc.
Questions Answered By This Report
- What was the market size of Breathing Circuits Market in 2021?
- What will be the CAGR of Breathing Circuits Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Breathing Circuits Market?
- Which region held the largest share in Breathing Circuits Market in 2021?
- What are the key market drivers of Breathing Circuits Market?
- Who is the largest end user Breathing Circuits Market?
- What will be the Breathing Circuits Market value in 2030?
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