Enjoy complimentary customisation on priority with our Enterprise License!
The anesthesia monitoring devices market is estimated to grow at a CAGR of 10.67% between 2022 and 2027. The size of the market is forecast to increase by USD 1,108.53 million. The growth of the market depends on several factors, including the increasing number of surgeries requiring general anesthesia, the growing prevalence of chronic diseases and associated risk factors, and advances in anesthesia technology.
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.
To learn more about this report, Download Report Sample
Technavio categorizes the global anesthesia monitoring devices market as a part of the global healthcare equipment market. The parent global healthcare equipment market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increasing number of surgeries requiring general anesthesia is notably driving the market growth, although factors such as the lack of trained anesthesiologists may impede the market growth. 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 Anesthesia Monitoring Devices 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.
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 Anesthesia Monitoring Devices 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.
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. Increased efficiency of disposable devices can be attributed to the reduced time required to prepare and sterilize the device for surgery. 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 Anesthesia Monitoring Devices 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.
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 Anesthesia Monitoring Devices 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.
Global Anesthesia Monitoring Devices Market Customer Landscape
Vendors 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 operates under one segment. The company under this segment 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 vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, robust, tentative, and weak.
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.
Get a glance at the market contribution of various segments Request a PDF Sample
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.
For more insights on the market share of various regions Request PDF Sample now!
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.
In 2020, the growth of the market in North America was hindered by the COVID-19 pandemic. However, as a result of extensive vaccination campaigns in 2021, the production facilities of anesthesia monitoring devices resumed their operations in this region. Also, owing to the lifting of lockdown restrictions, more individuals in North America visited treatment facilities in 2021 compared to 2020 to resume their treatments, with the aim of curing certain health issues. As a result of these factors, the growth of the regional market in North America is expected to propel during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
|
Anesthesia Monitoring Devices 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 1,108.53 million |
|
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 Vendors, Market Positioning of Vendors, 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 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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
