09 Nov 2020
Posted in Medical Devices
APAC breathing filters and bags market to witness 4% growth through 2030, forecasts GlobalData
The breathing filters and bags market in the Asia-Pacific (APAC) region is expected to reach US$200m in 2030, growing at a compound annual growth rate (CAGR) of about 4% between 2020 and 2030, says GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Breathing Filters and Bags (Anesthesia and Respiratory Devices) – Global Market Analysis and Forecast Model (COVID-19 market impact)‘, reveals that in 2020, China will account for about 39% of the APAC breathing filters and bags market, followed by Japan and India, which together will account for about 50%.”
Manasa, Medical Devices Analyst at GlobalData, comments: “While increase in the elderly population and number of patients suffering from pulmonary diseases due to poor air quality will remain the main market drivers, increase in the number of surgical and non-surgical procedures will further drive the market.”
Draegerwerk AG & Co. KGaA has retained its position as the leading player by acknowledging the requirements of the consumers as a major pre-requisite, followed by Teleflex Inc through its higher penetration into various geographies.
Manasa concludes: “Prioritization and awareness of airway management during the pandemic had a positive impact on the market, especially during the second half of the year due to the rapid increase in the number of COVID-19 cases and with a few countries encountering the second wave of the pandemic.
“Due to the prevailing situation, there is a huge demand for single use breathing filters and bags when compared to reusable breathing filters and bags. This will create a repel effect leading to the phase out of the reusable breathing filters and bags in the future.”