Breathing Circuits Industry Soars to a US$1.76 Billion Valuation, With a 4.2% from 2022 to 2032 | FMI Insights

Breathing Circuits Industry
Breathing Circuits Industry

The global breathing circuits Industry is poised to achieve a valuation of approximately US$ 1,163.32 million by the conclusion of 2022 and is expected to exhibit steady growth with a Compound Annual Growth Rate (CAGR) of 4.2% from 2022 to 2032. It is anticipated that the market will reach an estimated value of around US$ 1,758.18 million by the close of 2032. Notably, open-breathing circuits dominated the market in 2021, capturing a significant market share of about 43.6%.

The surging global demand for breathing circuits can be attributed to the escalating prevalence of chronic inflammation due to factors such as smoking. Additionally, the increasing incidence of chronic coughing, bronchial cancer, and asthma is poised to drive the requirement for advanced breathing circuit solutions.

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Factors Fuelling Growth of the Global Market

Growth of the global breathing circuits market is mainly bound to various macro-economic and micro-economic factors. Increasing prevalence of bronchial cancer, chronic coughing, and asthma has led to a surge in demand in the healthcare industry. Increasing preference of smoking is further expected to impact growth of the global market. Smoking leads to chronic inflammation and further increases the asthmatic effect in the patients. These factors lead to increasing adoption of breathing circuits in the hospitals, clinics and ambulatory surgical center.

In its recent report, CDC reveals that 18.4 million in the age bracket of 18 years and over, which represents 7.6% of the adults who have asthma. Increasing prevalence of various diseases such as asthma and bronchial cancer has revved up demand for devices that facilitate deep breathing in the healthcare industry. Attributed to such factors, breathing circuits in the healthcare industry will continue to witness increasing adoption.

Breathing circuits are equipped with features such as innovative face masks, tubes and heat, which provides ideal care and comfort to the patients. The healthcare professionals are also witnessed to be using breathing circuits for drug delivery to patients. Increasing demand for delivering medications to the children, old age patients and infants during emergency will continue to contribute towards the global market growth of breathing circuits.

On the other hand, several factors are likely to impact the global market growth of breathing circuits negatively. Breathing circuits used in the ambulatory surgical centers, hospitals and clinics are equipped with unidirectional valve and increasingly absorb CO2. Due to these factors, the patients resist breathing through breathing circuits. Further, increasing complexities while operating breathing circuits can be fatal during the emergency cases. In addition, preference for practicing yoga in order to enhance health conditions is further expected to impact growth of the global market negatively. Attributed to such factors, sales of the breathing circuit devices will continue to drop in the global market over the forecast period.

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Hospitals to Represent a Major End User

Increasing prevalence of breathing problems such as asthma has revved up adoption of the open breathing circuits in the healthcare industry. Based on the product type, the open breathing circuits segment is projected to generate significant revenues, recording more than US$ 2,000 Mn by 2022-end. On the other hand, the semi open breathing circuits segment is projected to reflect a robust CAGR throughout the forecast period. In terms of revenue, the hospitals end users segment is projected to represent the fastest growth, accounting for more than US$ 2,000 Mn by 2017-end.

The anesthesia application segment is projected to represent robust revenue growth, recording more than US$ 2,000 Mn by 2022-end. In contrary to this, the respiratory dysfunction application segment is projected to reflect the highest CARG through 2022.

Market Players

Major players operating in the global market of breathing circuits are C. R. Bard Inc., Ambu A/S, Armstrong Medical Industries, Inc., Altera Corp., Beijing Aeonmed Co., Ltd., Becton, Dickinson and Company, Fisher & Paykel Healthcare Corporation Limited, Bio-Med Devices, Flexicare Medical Ltd., Dragerwerk AG & Co. KGaA, Teleflex Incorporated, General Electric Company and Smiths Group plc.

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Key Segments Covered in Breathing Circuits Market

By Product:

  • Open Breathing Circuits
  • Semi Open Breathing Circuits
  • Closed Breathing Circuits

By Application:

  • Anesthesia
  • Respiratory Dysfunction
  • Other Applications

By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Home Care Settings

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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