Breathing Circuits Market Expected to Reach More Than US$ 10,000 Million by the End of 2022 - Future Market Insights
Breathing Circuits Market: Hospitals to Dominate the Global Market in Terms of Revenue: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2022)
Valley Cottage, NY, December 19, 2017 (Newswire.com) - Growing prevalence of chronic inflammation due to smoking continues to increase demand for breathing circuits globally. Demand for the breathing circuits is also bound to growing prevalence of asthma, chronic coughing and bronchial cancer. According to CDC, 18.4 million adults aged 18 years and above that is 7.6% of adults who are suffering from asthma. Prevalence of these diseases has led to an upsurge in demand for deep breathing. The breathing circuits supplies the anesthetic gases and oxygen eliminating CO2. This device acts as a reservoir of gases that protects the patient from the excessive pressure within the breathing system.
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According to Future Market Insights, the global breathing circuits market is expected to represent a value of over US$ 10,000 Mn by the end of 2022.
Advanced Features to Underscore Lucrative Opportunities
Manufacturers in the global breathing circuits market are focusing on incorporating the moisture filters and innovative heat, face masks and tubes in order to ensure that the patients receive ideal comfort and care. Increasing number of emergency cases in the hospitals continue to boost sales of the breathing circuits in the healthcare industry. As these devices reduce the risk of contamination from environment, the breathing circuits are increasingly used for the purpose of delivering drugs to the old age, infants and children. Moreover, growing prevalence of barotrauma has also contribute towards growth of the global breathing circuits market positively.
Complexities in Device to Inhibit Demand
While breathing circuits continue to be used increasingly in the hospitals, clinics, ambulatory surgical centers and home care settings, various factors are expected to inhibit growth of the global breathing circuits market. Unidirectional valves and increasing absorption of carbon di oxide can lead to resistance to breathe. Moreover, various complexities in operating the breathing circuits continues to pose significant challenges. Patients increasingly prefer practicing yoga to improve their health related issues such as bronchial cancer, asthma and chronic coughing. Bound to these factors, the global breathing circuits market is expected to witness inhibiting growth during the forecast period.
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Open breathing Circuit Products to Represent a Leading Segment
With the growing prevalence of the asthma and other breathing problems, demand for the open breathing circuits will continue to increase. On the basis of product type, the open breathing circuit segment is expected to witness significant revenue growth, accounting for a value of over US$ 2,000 Mn by the end of 2022. In contrary to this, the semi open breathing circuits segment is expected to register the highest CAGR during the forecast period.
Based on end users, the hospitals segment is expected to witness the highest revenue growth, recording a value of over US$ 2,000 Mn by the end of 2017. The hospitals end users segment is expected to register a robust CAGR through 2022.
By application, the anesthesia segment is expected to witness robust revenue growth, accounting for a value of over US$ 2,000 Mn by the end of 2022. However, the respiratory dysfunction application segment is expected to register a healthy CAGR during the forecast period.
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Competition Tracking
Leading market players operating in the global breathing circuits market include Ambu A/S, C. R. Bard, Inc., Altera Corp., Armstrong Medical Industries, Inc., Becton, Dickinson and Company, Beijing Aeonmed Co., Ltd., Bio-Med Devices, Fisher & Paykel Healthcare Corporation Limited, Dragerwerk AG & Co. KGaA, Flexicare Medical Ltd., Smiths Group plc, General Electric Company and Teleflex Incorporated.
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Source: Future Market Insights