The projected scope of the global breathing circuit market size is expected to reach USD 21.6 billion by 2034, developing at a sluggish CAGR of 3.5% through the forecasted era. The escalation of the industry is measured from USD 15.3 billion, which represents the valuation of the sector in 2024.
With the growing investment prospects in the healthcare field, the industry's growth rate is likely to speed up, creating opportunities for key breathing circuit market players.
The need for efficient operation and usability drives a noticeable shift in consumer preference towards disposable circuits. These disposable units, with elevated ease of use and quick disposal, are revolutionizing the industry. This trend is expected to shape the breathing circuit market forecast, leading to an increase in sales and investment for key players in the field.
Technological innovation is playing a pivotal role in the evolution of breathing circuits. Key players are leveraging advanced tools like CAD models and 3D modeling equipment to develop precise instrument designs, thereby enhancing their efficiency. This innovation is expected to fuel the enlargement of the industry size, offering a promising outlook for the industry.
The role of breathing circuits in remote patient monitoring is set to have a profound impact on their usage. Such devices, when integrated into telehealth operations, enable medical professionals to remotely monitor the health of a patient, thereby increasing the accessibility of medical staff and enhancing medical assistance. This development is expected to drive industry growth, a key insight that industry professionals should be aware of.
The aging population and increasing demand for respiratory care are leading to a higher demand for breathing circuits. Respiratory issues are observed to have increased, driving the demand for respiratory assistance providers. Due to this, a decent spike is likely to be observed in the sales of breathing circuits, helping key industry players.
The growing healthcare infrastructure, coupled with government initiatives, has been leveraging the demand for innovation and growth in the field. Due to this, the requirement for breathing circuits is likely to find diverse uses in different key fields, elevating the industry size.
Government regulations on medical device safety and standards for breathing circuits drive the demand for equipment that possesses the ability to monitor and control the vital parameters of a patient effectively. This driver subsequently enhances the industry growth rate.
| Attributes | Description |
|---|---|
| Estimated Global Breathing Circuit Market Size (2024E) | USD 15.3 billion |
| Projected Global Breathing Circuit Market Value (2034F) | USD 21.6 billion |
| Value-based CAGR from 2024 to 2034 | 3.5% |
Tending Anesthesia Demand Drives the Industry Expansion
The demand for surgical procedures is growing worldwide due to various factors. The rising rate of accidents is promoting the requirement for surgical therapies to help patients recover. With the increasing demand for prosthetic surgeries, the requirement for transplants is also expected to increase. The growing prevalence of chronic diseases is another key contributing factor to the upsurging demand for surgeries.
Such factors not only drive the demand for surgical instruments but also fuel the requirement for anesthesia equipment. With higher precision required in such instruments, the level of intricacy increases in the process. Key players are expected to elevate surgical operation efficiency with the help of efficient breathing circuits that can assist medical professionals during surgery. This key trend is likely to elevate the industry growth during the forecasted period.
Chronic Respiratory Diseases to Fuel the Breathing Circuit Market Growth Rate
With the rising prevalence of numerous diseases like tuberculosis, bronchitis, and other chronic disorders, the requirement for artificial breathing equipment is expected to rise. The demand for such instruments is growing in different countries. Natural occurrence of the disease is influencing the declining respiratory health of individuals.
The rising urbanization rate has accelerated pollution levels in many countries. As a result, the quality of breathable air has reduced drastically, especially in developing countries such as China and India. Due to this, the prevalence of chronic respiratory diseases is likely to elevate, driving the demand for breathing circuits.
Due to the growing smoking rates across the world, lung health is likely to reduce. Given such issues, the likelihood of causing acute pulmonary disorders elevates, fueling the global market size. These factors are expected to spur investment opportunities in the sector, assisting key players in expanding in the industry.
Substitute Products to Constraint Market Growth
Despite the rising requirement for artificial or external respiratory support, the global industry might be constrained due to the availability of various substitute products. Nasal cannulas are widely used alternatives for external respiratory support. Apart from this, the use of face masks or oxygen masks is also gaining traction, which is likely to affect the industry, reducing expansion prospects.
The global breathing circuit market size elevated to USD 14.9 billion from USD 13 billion between 2019 and 2023. With drivers creating investment opportunities for key players, the industry enlargement encompassed a CAGR of 2.8% during the historical period.
The growing healthcare expenditure during the historical period was a key industry driver during this era. More prospects were generated for expansion in the sector, driving the demand for various medical instruments. Due to this, the prospect for the industry increased, fueling the industry growth rate.
Emerging economies showcased a remarkable inclination toward bolstering the healthcare network during this period. Due to this, imports of various medical instruments surged, availing more prospects in such countries, including several Asia-Pacific countries. Along with this factor, the prevalence of chronic airborne diseases increased, driving the demand for respiratory assistance.
During the forecasted period, the demand is likely to surge with the increasing number of home-based healthcare facilities. Consumer inclination is observed to have increased for portable breathing circuits, which is a key trend in the sector. Manufacturers are focusing on elevating the user-friendly aspects of such circuits, driving more consumer demand.
Governments have initiated regulatory policies to standardize equipment. This is likely to elevate the standards of these circuits, helping key players within the industry. This product standardization is likely to shape the industry by increasing the production of medical equipment.
With emerging countries investing more in developing local healthcare networks, the requirement for medical instruments is likely to increase in such countries. Asia Pacific, thus, provides a broader competitive landscape, shaping the global breathing circuit market size. Technological advancements in North America and healthcare infrastructure in Europe are key contributing factors to the industry growth rate.
| Countries | CAGR 2024 to 2034 |
|---|---|
| United Kingdom | 2.6% |
| United States | 3.5% |
| China | 3.7% |
The progress of the industry in the United Kingdom is likely to occur at a CAGR of 2.6% through 2034. Rising investments are observed to be made by the National Health Service (NHS) to bolster the healthcare infrastructure in the United Kingdom.
The NHS has outlined a long-term plan, including the expansion of pulmonary rehabilitation services, early and accurate diagnosis, and improvements in treatments. Such efforts have significantly contributed to the country's share of the global market size.
The projected advancement of the industry in the United States is expected to adhere to a CAGR of 3.5% during the forecasted period. With growing agencies like Amedisys Inc., Enhabit Home Health & Hospice, and AccentCare, the accessibility of home healthcare services is likely to spur in the United States.
Along with the aforementioned factors, the growing consumer preference for home-based respiratory treatments is likely to help key players provide better assistance to patients. Such factors ensure the vastness of the competitive landscape for the country, enabling the United States to lead the global industry.
The government of China is taking many steps to bolster the healthcare sector. Implementing Universal Health Reform is one such step, providing key players with a wider canvas to expand in China. Along with this factor, the growing medical tourism in the country is another key driver, fueling industry growth. Such factors are set to help the healthcare industry in China progress at a CAGR of 3.7% through 2034.
The growing requirement for artificial breathing support is likely to spur the need for tools that can reduce patient discomfort. Despite having substitute methods like oxygen masks, breathing circuits can simplify surgeries. Due to this, the demand for such circuits increases. In hospitals, the growing demand in key departments, ranging from casualty to critical care units, fuels the global market.
| Segment | Open Breathing Circuits (Product Type) |
|---|---|
| Value Share (2024) | 43.7% |
Due to the minimalist design of open-breathing circuits, the maintenance requirement for such devices is reduced. Operational efficiency is enhanced, proving effective in short surgical procedures. The rising number of minor surgery cases demands less anesthesia, driving the demand for open-breathing circuits and elevating the segment size.
| Segment | Hospitals (End User) |
|---|---|
| Value Share (2024) | 49.4% |
With the spiking and frequent requirement for anesthesia in hospitals, the need for breathing circuits is surging considerably. Due to the infrastructural facilities in hospitals, the setup and use of such circuits have become easier.
Medical assistance can be provided promptly to patients, enhancing life-support services. Various wards in hospitals, including ICU, CCU, and operating theaters, require artificial breathing and anesthesia, which drives the demand for these circuits.
With a larger industry presence, key players can secure a better position in the competitive landscape of the breathing circuit market with less effort. By utilizing standard strategies like partnerships, mergers and acquisitions, and collaborations, businesses can expand their presence in the competitive space.
New entrants need to allocate resources to innovate products, introducing a strong differentiator to their product portfolio. The stage of maturity in the industry can fuel opportunities for new entrants, as start-ups can change the dynamics of the sector.
Industry Updates
Ambu A/S, CR Bard Inc, Altera Corp., Armstrong Medical Industries Inc., Becton, Dickinson and Company, Beijing Aeonmed, Bio-Med Devices, Fisher & Paykel Healthcare Corporation Limited, Dragerwerk AG & Co. KGaA, Flexicare Medical Ltd., Smith’s Group plc, General Electric Company, and Teleflex Incorporated are key competitors in the ecosystem.
Based on the product type, the ecosystem is categorized into open breathing circuits, semi open breathing circuits, and closed breathing circuits.
Breathing circuits find application in anesthesia, respiratory dysfunction, and other applications are key application segments of the industry.
Based on end users, the industry can be classified into hospitals, ambulatory surgical centers, clinics, and home care settings.
Regional analysis of the industry is examined across key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa.
The industry size stands at USD 15.3 billion in 2024.
The industry to advance at a CAGR of 3.5% through 2034.
The industry size is set to reach USD 21.6 billion by 2034.
Open-breathing circuits are highly popular, with 43.7% industry share in 2024.
The market in the United States to progress at a CAGR of 3.5% through 2034.
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