Breathing Circuits Market

The breathing circuits market is projected to grow to USD 2.16 billion by 2029 from USD 1.57 billion in 2024, at a CAGR of 6.5% during the forecast period. The factors that have increased demand for effective breathing circuits across the world are rising chronic respiratory diseases and surgical procedures, therefore accelerating the growth of the breathing circuits market. Moreover, the rising number of emergency cases all over the world that require immediate respiratory intervention, and technological developments that further improve breathing circuit safety and efficiency directly enhance demand and lead to growth in the adoption rate of breathing circuits at various medical settings.

The key players in this market are Drägerwerk AG & Co. KGaA (Germany), Medtronic (Ireland), Cardinal Health (US), Fisher & Paykel Healthcare Limited (New Zealand), ResMed (US), Ambu A/S (Denmark), GE Healthcare (US), ICU Medical, Inc. (US), Koninklijke Philips N.V. (Netherlands), Hamilton Medical (Switzerland), Medline Industries, LP (US), Forca Healthcare (India), Braun & Co. Limited (UK), Inspiration Healthcare Group PLC (UK), Besmed Health Business Corp. (Taiwan), Eakin Healthcare (UK), BOMIMED (Canada), Flexicare (Group) Limited (UK), Bio-Med Devices (US), Airlife (US), Mercury Medical (US), Intersurgical Ltd (UK), Fairmont Medical Products Pty Ltd. (Australia), Breas Medical AB (Sweden), and GPC Medical Ltd. (India).

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In 2023, the breathing circuits market was led by Drägerwerk AG & Co. KGaA (Germany). The company's geographically widespread presence in over 190 countries forms a solid platform to enhance penetration in developing markets and to develop global reach in more geographies. Product design innovations are some other strategies the company is consistent in, which is meant to satisfy the various customers' needs across the globe. This has helped the company to be positioned better in the market for leadership in the market of breathing circuits. Product launches are another organic growth development method that the corporation employs to expand its market position. For instance, in August 2022, Drägerwerk AG introduced the Dräger BG ProAir for enhanced performance during extended mining and tunnelling rescue operations. The BG ProAir's positive pressure breathing closed circuit prevents unwanted and toxic substances from entering the breathing systems. Such strategic steps of the company keep it continuously at the lead in the breathing circuits market.

In 2023, Medtronic (Ireland) dominated a considerable amount of share in the breathing circuits market. This company has a comprehensive portfolio of products across most medical device categories, which helps diversify revenue streams. Medtronic has an expansive distribution network across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. This enables them to ensure a strong supply chain and sustainability in service delivery, therefore retaining their lead position in the market. Medtronic grows adopts inorganic strategies like agreements and collaborations to remain competitive in the market. For example, in April 2022, Medtronic collaborated with GE Healthcare to address special needs in ambulatory surgery centers and office-based labs that are growing in their requirements for care in both settings. These strategic steps strengthen Medtronic's product offerings and hence secure its position as a leading player in the global breathing circuits market.

In 2023, Cardinal Health (US) held a prominent position in the breathing circuits market. The company derives a significant share of its revenue from the markets in the US. It is focused on increasing its self-manufacturing capacity and sourcing capabilities while streamlining its end-to-end, global supply chain. For instance, in April 2023, the company announced the opening of two new distribution centers in Central Ohio to serve the company's Medical Segment, particularly the US Medical Products and Distribution and Cardinal Health-At-home Solutions businesses. It achieves considerable advantages throughout the year from cost-saving measures, especially in its global manufacturing and supply chain. Committed to long-term growth, it identifies and pursues both organic growth opportunities and strategic investments that will diversify its capabilities and drive lasting value.

Related Reports:

Breathing Circuits Market by Circuit Type (Single Limb, Dual Limb), Usage (Disposable, Reusable), Application (Anesthesia, Respiratory Dysfunction), Patient Type (Adults, Pediatric & Neonatal), End User (Hospitals, Clinics) - Global Forecast to 2029

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