The market for anaesthesia and respiratory devices saw abnormal growth last year due to the demand for ventilators driven by the Covid-19 pandemic. But the expectation is that the market value will decrease once the pandemic is under control, due to the expected decline of new sales. Despite this, the market is still on track for steady growth due to the recent rise in US Food and Drug Administration (FDA) 510(k) clearances for various devices in this sector.
There has recently been a notable number of medical devices in this sector being given 510(k) clearances. One notable corporation is New Zealand-based Fisher and Paykel, which received clearance for its Visairo NIV mask range, a non-invasive continuous ventilator, in April. This came just a month after the company obtained clearance for the F&P Optiflow nasal oxygen cannula with CO₂ sampling, which is used to deliver oxygen nasally to the patient.
Other companies that have received 510(k) clearances in recent weeks include Shenzhen Hexin Zondan Medical Equipment (for the Pulse Oximeter), Maquet Holding (for the SERVO-U Ventilator System), Parker Hannifin (for the Nitronox 0-50, Nitronox Plus 0-70 and Nitronox Plus 50/50), Invacare (for the Platinum 5NXG Oxygen Concentrator), RespiNova (for the PulseHaler), and Shenzhen Mindray Bio-Medical Electronics (for the A9 and A8 Anaesthesia Systems).
With new and innovative products making their way into the anaesthesia and respiratory devices market, the market value will continue to see stable growth. The global market value for anaesthesia and respiratory devices is projected to grow to $20bn in 2025, up from $16.8B in 2021, according to GlobalData, a leading data and analytics company.