Anesthesia Monitoring Devices Market by Type, End-user, and Geography - Forecast and Analysis 2023-2027

Anesthesia Monitoring Devices Market Forecast 2023-2027

The anesthesia monitoring devices market size is forecast to increase by USD 1.10 billion at a CAGR of 10.67% between 2022 and 2027. Market growth hinges on multiple factors, notably the rising demand for surgeries necessitating general anesthesia, the increasing prevalence of chronic ailments and related risk factors, and advancements in anesthesia technology. These elements collectively drive market expansion by addressing crucial healthcare needs and enhancing patient outcomes. The growing number of surgeries requiring general anesthesia reflects the evolving healthcare landscape, with medical interventions becoming more sophisticated and diverse. Additionally, the escalating prevalence of chronic diseases and associated risk factors underscores the critical role of anesthesia in managing complex medical conditions. Furthermore, continuous advancements in anesthesia technology contribute significantly to improving safety, efficacy, and patient comfort during surgical procedures, driving adoption and market growth in the healthcare sector.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by type (standalone and integrated), end-user (hospitals, ambulatory service centers, and clinics), and geography (North America, Europe, Asia, and Rest of World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.

Market Dynamics and Customer Landscape

The market is driven by the increasing demand for advanced medical technology in surgical procedures, leading to the adoption of devices like vital signs monitors, anesthesia depth monitors, capnography monitors, and anesthesia ventilators. Key trends include the integration of Bispectral index monitors and Anesthesia EEG monitors for precise monitoring. However, challenges such as high initial investment costs and the need for trained professionals hinder market growth. Overcoming these challenges through technological innovations and improved affordability is crucial for sustained growth in the market. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The increasing number of surgeries requiring general anesthesia is notably driving market growth. Medical practitioners use general anesthesia on patients to induce unconsciousness during surgery and for post-surgery pain management. It is usually used for major operations such as knee and hip replacements, heart surgeries, surgical procedures to treat cancer, brain surgeries, lung surgeries, and surgeries of major arteries.

Moreover, the increasing prevalence of chronic conditions and diseases is leading to an increase in the number of surgeries. For instance, the number of people with chronic conditions, such as ovarian cancer, is increasing. A person with ovarian cancer may require a hysterectomy, which is a surgical procedure to remove the uterus. According to Eurostat 2019, the Czech Republic and Lithuania in Europe witnessed a high number of hysterectomies in 2019. Similarly, in 2019, approximately 25,000 people in China underwent surgery to implant artificial knees, and this number is expected to increase to approximately more than 30,000 by 2023. Therefore, these factors will drive the growth of the global market during the forecast period.

Significant Market Trend

The rising demand for disposable anesthesia monitoring devices is an emerging trend in the market. Disposable anesthesia monitoring devices are completely assembled and ready-to-use devices for administering anesthetic gas from a source to the patient. These devices are made of materials such as plastic that are economically disposable after a single use. This helps in eliminating the risk of cross-contamination.

Moreover, the demand for disposable anesthesia monitoring devices is increasing owing to the need to prevent infections. Single-use disposable anesthesia monitoring devices have a lower risk of transmitting infections when compared with reusable devices as they do not need to undergo reprocessing between uses. In addition to their improved safety profile, disposable anesthesia monitoring devices are also cost-effective and efficient. Several organizations, like the American Society of Anesthesiologists (ASA) Committee on Occupational Health Task Force on Infection Control, also recommend the use of disposable anesthesia monitoring devices.  Therefore, such factors will boost the market growth during the forecast period.

Major Market Challenge

The lack of trained anesthesiologists is a major challenge impeding market growth. Unlike other forms of anesthesia, including local anesthesia and nerve blocks, general anesthesia is always provided under the care of a specialist doctor called an anesthetist. This is because administering general anesthesia safely and reliably always requires in-depth knowledge, technical skill, and an astute awareness of the patient's status.

Furthermore, anesthetists are supported by a team of clinicians, including department practitioners, theater nurses, and recovery room staff. However, the need for appropriately trained anesthetists is yet to be met in several countries across the world. The shortage of anesthetists is severe in several developing countries, especially Africa. Furthermore, access to trained anesthetists is further complicated by the uneven distribution of anesthesiologists in rural areas. The demand for anesthetists is also increasing due to the rising number of surgeries and the growing prevalence of chronic diseases and related risk factors. Thus, such factors will hamper the growth of the market during the forecast period.

Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Who are the Major Market companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

BPL Medical Technologies Pvt. Ltd. - The company offers ECG devices, defibrillators, oxygen concentrators, surgical imaging, phototherapy, ventilators, and other medical devices. The key offerings of the company include anesthesia monitoring devices. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• B Braun Melsungen AG
• Becton Dickinson and Co.
• Beijing Aeonmed Co. Ltd.
• Dragerwerk AG and Co. KGaA
• Fisher and Paykel Healthcare Corp. Ltd.
• Fresenius SE and Co. KGaA
• General Electric Co.
• Getinge AB
• Koninklijke Philips NV
• Medtronic Plc
• Compumedics Ltd.
• Dixion Vertrieb medizinischer Gerate GmbH
• Fukuda Denshi Co. Ltd.
• Infinium Medical Inc.
• Masimo Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, robust, tentative, and weak.

What is the Fastest-Growing Segment in the Market?

The market encompasses a wide array of critical equipment used in healthcare settings to monitor patients undergoing anesthesia. These devices play a crucial role in ensuring patient safety and optimizing the delivery of anesthesia during surgical procedures. Key devices in this market include vital signs monitors, anesthesia depth monitors, bispectral index monitors, capnography monitors, anesthesia gas monitors, anesthesia ventilators, anesthesia machines, anesthesia workstations, anesthesia recorders, anesthesia alarms, anesthesia monitoring systems, and depth of anesthesia monitors. Advancements in anesthesia monitoring technology have led to the development of sophisticated devices that provide real-time data on a patient's vital signs, depth of anesthesia, heart rate, oxygen saturation, end-tidal CO2 levels, hemodynamics, and EEG activity. These monitoring advancements contribute to the overall reliability and performance of anesthesia monitoring systems, ensuring accurate and timely information for healthcare professionals.

The market share growth by the standalone segment will be significant during the forecast period. Standalone or wearable technologies have significantly impacted several industries, such as healthcare, fitness, aerospace, sports, and gaming, owing to the remarkable progress in bioengineering. These factors have resulted in the compact size of anesthesia monitoring devices.  The popularity and demand for these devices are rising owing to their ease of use, lightweight, user-friendliness, and cost-effectiveness.

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The standalone segment was valued at USD 844.55 million in 2017 and continued to grow until 2021.  Standalone anesthesia monitoring devices are expected to grow at a faster pace, compared with integrated anesthesia monitoring devices, during the forecast period. This is due to the growing use of portable EMG devices in the development of prostheses, rehabilitation, and ambulatory and emergency healthcare settings. Furthermore, the rising trend of home healthcare and the increasing number of rehabilitation centers are expected to positively impact the growth of the standalone segment in the global market during the forecast period.

Which are the Key Regions for the Market?

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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The US and Canada are the major revenue contributors in the market in North America. The market in the region is driven by improved healthcare infrastructure, an increasing number of surgeries being performed under general anesthesia, and a growing prevalence of chronic diseases and their related risk factors. In addition, the growing number of hospitals and ambulatory surgery centers (ASCs) are also contributing to the growth of the market in the region. In addition, other factors, such as the rising focus on delivering safe and accurate anesthesia, will drive the market in the region during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Type Outlook 
  • Standalone
  • Integrated

• End-user Outlook 
  • Hospitals
  • Ambulatory service centers
  • Clinics

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
    • Others
  • Rest of World
    • Saudi Arabia
    • South Africa
    • Brazil
    • Others

Market Analyst Overview

The market is a vital segment within the healthcare industry, encompassing a wide array of equipment and technologies. Key components of this market include anesthesia monitors, patient monitoring devices, anesthesia machines, anesthesia equipment, vital signs monitors, anesthesia depth monitors, bispectral index monitors, capnography monitors, anesthesia gas monitors, Anesthesia workstation, Anesthesia monitoring devices market analysis, Anesthesia monitoring advancements, Anesthesia monitoring performance, Anesthesia monitoring quality anesthesia ventilators, and anesthesia workstations. These devices play a crucial role in ensuring patient safety and comfort during surgical procedures by continuously monitoring vital signs such as heart rate, respiratory rate, oxygen saturation, and end-tidal CO2 levels.

Additionally, the market also encompasses anesthesia hemodynamic monitors, anesthesia EEG monitors, anesthesia neurophysiology monitors, anesthesia patient safety monitors, and anesthesia patient comfort monitors to ensure optimal patient care and outcomes. Furthermore, there is a growing focus on anesthesia monitoring software and anesthesia monitoring hardware to enhance monitoring capabilities and streamline data management. Anesthesia monitoring services such as market analysis, advancements, performance evaluation, and quality assurance are also essential aspects of this market, ensuring compliance with anesthesia monitoring regulations and standards while delivering high-quality care to patients. 

Moreover, in recent years, significant anesthesia monitoring developments have been witnessed, leading to anesthesia monitoring innovations and advancements in technology. This includes the introduction of the depth of anesthesia monitors for precise control over sedation levels, consciousness monitors for assessing patient awareness, and sedation monitors for managing sedative medications effectively. Moreover, the market also focuses on anesthesia monitoring reliability, performance, and quality, adhering to anesthesia monitoring safety standards and regulations to ensure optimal patient care. The demand for anesthesia monitoring solutions and services is expected to rise due to the increasing number of surgeries and the growing emphasis on patient outcomes and safety in healthcare settings.

Furthermore, the market is a critical segment within the healthcare industry, encompassing a broad range of equipment and technologies designed to ensure patient safety and monitor vital signs during surgical procedures. Key components of this market include anesthesia sensors, anesthesia workstations, anesthesia recorders, anesthesia alarms, anesthesia monitoring systems, and anesthesia monitoring technology. These devices play a pivotal role in monitoring various parameters such as anesthesia pulse oximeters, anesthesia electrocardiographs, anesthesia blood pressure monitors, anesthesia temperature monitors, anesthesia respiratory rate monitors, anesthesia heart rate monitors, anesthesia oxygen saturation monitors, and anesthesia end-tidal CO2 monitors. 

Market Scope
Report Coverage	Details
Page number	163
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 10.67%
Market growth 2023-2027	USD 1.10 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	9.0
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 37%
Key countries	US, Germany, UK, China, and Japan
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	B Braun Melsungen AG, Becton Dickinson and Co., Beijing Aeonmed Co. Ltd., Dragerwerk AG and Co. KGaA, Fisher and Paykel Healthcare Corp. Ltd., Fresenius SE and Co. KGaA, General Electric Co., Getinge AB, Koninklijke Philips NV, Medtronic Plc, BPL Medical Technologies Pvt. Ltd., Compumedics Ltd., Dixion Vertrieb medizinischer Gerate GmbH, Fukuda Denshi Co. Ltd., Infinium Medical Inc., Masimo Corp., Mindray Bio medical Electronics Co. Ltd, Nihon Kohden Corp., SCHILLER AG, and Siemens AG
Market dynamics	Parent market analysis, market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and changes in consumer behavior
• Growth of the industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough market growth and forecasting analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market research report analysis of factors that will challenge the growth of market companies

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