iData Research, a global consulting and market research firm, has published a series of new reports in the Anesthesia, Respiratory & Sleep Therapy (ARS) Devices Market, addressing the adverse impacts of COVID-19 in 2020 and beyond. The recent publication provides extensive insights into the global market for devices and accessories used on Anesthesia, Respiratory & Sleep Therapy from over 86 companies between the EU15 and the United States.
The total US and EU ARS market is set to grow over the forecast period. Overall, this market is experiencing increased consumer awareness, advancing technology, shifting preferences, and insurance reimbursement changes. The overall market is expected to reach approximately $8.7 billion by 2027.
According to iData’s US Report for the Anesthesia, Respiratory & Sleep Therapy Devices Market, the effect of the COVID19 pandemic is expected to vary by segment. The ventilator market grew significantly in 2020 due to the increased number of patients requiring respiratory support from COVID-19 complications. The acute-care and emergency transport segments saw the most pronounced growth, while home-care and neonatal ventilators took small steps backward. Almost all segments in the respiratory disposables market experienced a COVID-19 related demand boost, particularly the high flow oxygen cannula market, which doubled in size.
However, the incentive spirometer market decreased in size because of a decline in the use of devices that have an open-air exhale, as well as a decrease in related surgery numbers in 2020. In the oxygen therapy market, stationary oxygen concentrators saw increased growth, especially the high-flow variants, which are used to treat higher-risk patients.
Among the many competitors within this market, Philips, ResMed, and Medtronic are the leaders by varying market shares, followed by Vyaire. There are over 40 other competitors analyzed in these reports which have one or more products offered in this space, all pushing for a larger share of this market.
To accurately estimate market shares, units sold, average selling prices, product segments, and brands as well as procedural volumes, iData Research uses its proprietary databases and brand-level data to complement its primary and secondary research initiatives.
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