2023-2029 is the forecast period in the market report.
Anaesthesia is the pharmacologically induced state of being insensate – numb to pain or sensation – which can be controlled and reversed. Anaesthesia is given to patients so that surgery and other medical procedures can be carried out safely, and without pain. Anaesthesia can be relatively simple, like numbing an area around a tooth during dental treatment, or something more complex, like using powerful drugs to cause unconsciousness. Anaesthetic monitoring devices are used for drug and gas delivery to patients and to measure and display the physiological state of the patient. Increasing geriatric population coupled with rise in number of surgeries globally are expected to drive growth of the market. Furthermore, technological advancements in healthcare sector are anticipated to fuel the demand for anaesthesia monitoring devices during the estimated time period.
The growth of the market is driven by increasing geriatric population coupled with rise in number of surgeries. According to the World Health Organization (WHO), there were 703 million persons aged 65 years or over in the world in 2019. The number of older persons is projected to double to 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6 per cent in 1990 to 9 per cent in 2019. That proportion is projected to rise further to 16 per cent by 2050, so that one in six people in the world will be aged 65 years or over. Globally, a person aged 65 years in 2015-2020 could expect to live, on average, an additional 17 years. By 2045-2050, that figure will have increased to 19 years. Between 2015-2020 and 2045-2050, life expectancy at age 65 is projected to increase in all countries. According to the American Society of Plastic Surgeons (ASPS), almost 18 million people underwent surgical and minimally invasive cosmetic procedures in the United States in 2018. This total means that there were almost a quarter of a million more procedures in 2018 than in 2017. Cosmetic surgical procedures have been on the rise in the U.S. over the past 5 years. Thus, the increasing geriatric population coupled with rise in the number of surgeries are expected to drive the growth of the overall Anaesthesia Monitoring Devices market in the coming years.
The rise in healthcare expenditure in developing nations is likely to drive the growth of the market. Furthermore, the growing spending on healthcare and surgical procedures, coupled with the business expansion of major players in emerging markets and the technological developments in medical sector are expected to provide a strong growth opportunity for the market during the forecast period.
A high cost associated with the Anaesthesia Monitoring Devices is expected to restrain the growth of the market. Also, the lack of advanced healthcare system in underdeveloped nations is expected to pose as a key challenge to the growth of the market.
A high cost associated with the anaesthesia monitoring devices is one of the major challenging factors for the growth of the market. Likewise, stringent regulations and lack of well-trained medical staff in developing nations is expected to be a major growth challenge for the market. Also, the lack of an advanced healthcare system in underdeveloped nations is expected to pose as a key challenge to the growth of the market.
The report provides an in-depth analysis of the global Anaesthesia Monitoring Devices market including, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. A rise in number of surgeries is expected to stimulate the demand for the anaesthesia monitoring devices, and therefore, the market is expected to witness growth at a specific CAGR from 2022-2029.
Global Anaesthesia Monitoring Devices market comprises of different market segments like product, end-user and geography.
On the basis of product, the Anaesthesia Monitoring Devices market consists of key segments like
The instrument and accessories are expected to gain a major share of the market over the forecast period. Advanced anaesthesia monitors typically provide information on heart rate, blood pressure, and oxygen saturation. Some advanced anaesthesia monitors also measure end-tidal carbon dioxide (ETCO), neuromuscular function, and brain activity.
Also, the integrated anaesthesia workstations are expected to witness high growth over the forecast period. The workstations offer integrated advanced patient monitoring, use advanced electronics, software and technology ensuring advanced capabilities for ventilation, monitoring, inhaled agent delivery, low-flow anaesthesia and closed-loop anaesthesia.
The global Anaesthesia Monitoring Devices market include major end-users like
Hospitals are expected to account for the largest share of the market. An increasing demand for Anaesthesia Monitoring Devices in hospitals and clinics due to rise in number of surgeries is a major factor which is expected to drive the growth of the segment.
The ambulatory surgery centres are witness high growth over the forecast period. The growth of the segment can be attributed to a rise in number of ambulatory surgery centres around the globe. For instance, according to the MedPac analysis, the global number of ambulatory surgeries centers increased by 1.9% in 2014 as compared to 2013.
The Global Anaesthesia Monitoring Devices market is studied for the following regions:
North America is likely to dominate the market, owing to increase in the number of minimally invasive surgeries in the region. According to the American Society of Plastic Surgeons 2020, 18.1 million cosmetic procedures, 1.8 million cosmetic surgical procedures, 16.3 million cosmetic minimally-invasive procedures, and 5.9 million reconstructive procedures were performed in 2019 in the United States. Furthermore, the launch of advanced solutions are anticipated to fuel the growth of the market in the region. For instance, in August 2020, Getinge received the 510(k) clearance from the FDA for its Flow-c and Flow-e devices, two portable and customizable anaesthesia workstations. The Flow-c is a small-sized, movable workstation that provides high-performance ventilation, precision agent dosing, and hypoxia prevention while being designed to fit in any operating room setting. The Flow-e is a larger workstation for personalized anaesthesia delivery, offering a bigger worktop, more space for storing, and multiple mounting options for offline equipment.
Asia Pacific region is expected to witness the fastest growth over the forecast period. The rise in number of surgeries, along with the increasing health expenditure, increasing rates of chronic diseases, rising population, are key factors driving the growth of the market in the region. According the WHO statistics, around 39.5 million surgeries were performed in China in the year 2012 and this number is anticipated to increase in the coming years, which is estimated to propel the demand for the Anaesthesia Monitoring Devices.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors with regard to the Anaesthesia Monitoring Devices market. The report involves an exclusive study on COVID-19 impact analysis. In addition, the report also includes a complete analysis of changes in the global Anaesthesia Monitoring Devices market, expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of pandemics on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
The COVID-19 pandemic has had a negative impact on the healthcare sector around the globe. The pandemic led to a huge disruption in supply chains and shortage of essential raw materials and subsequently led to a reduction in demand for Anaesthesia Monitoring Devices. Thus, as a result of the pandemic distribution in the supply chain, it certainly created a hurdle for the industries in the world for importing and exporting products. The COVID-19 pandemic also propelled hospitals to cancel their scheduled and elective surgeries. According to the report published by the British Journal of Surgery, in May 2020, an estimated 585,000 elective surgeries were postponed in the 12-week lockdown in India alone, and 28.4 million elective surgeries worldwide were expected to be cancelled or postponed. Thus, the halt in surgical procedures is the major factor likely to hamper the usage of Anaesthesia Monitoring Devices. But with the end of lockdown restrictions, the market is expected to witness lucrative growth opportunities in the upcoming years.
The competitive landscape analysis of the Anaesthesia Monitoring Devices market is majorly focused on expanding the global growth of the Anaesthesia Monitoring Devices industry with new product innovation, and business expansion. An increasing presence of a range of manufacturers operating in Anaesthesia Monitoring Devices sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the requirements of consumers, which further contributes to healthy growth in the market.
The key players studied in the market are
March 2022: Clinical intelligence company BioIntelliSense expanded its remote care technologies portfolio with the launch of a new rechargeable wearable monitoring device, BioButton.
November 2021: MDoloris Medical Systems secured regulatory clearance for its HFVI MOC-9 high-frequency variability index monitor in Japan. The HFVI MOC-9 technology is said to be the first monitoring solution for patients undergoing analgosedation and anesthesia in Japan.
February 2020: Medovate launched its US Food and Drug Administration-approved product Safira. Safira stands for Safer Injection for Regional Anesthetics. The device contains a safety feature that helps to prevent anesthesia from being injected at unsafe pressures, aiming to reduce the risk of significant or peripheral nerve damage.
The global Anaesthesia Monitoring Devices market include segments like product, end-user and geography. By product, the market includes segments like Advanced anaesthesia monitors, Basic anaesthesia monitors, integrated anaesthesia workstations, and others (IT enabled monitors). The advanced anaesthesia monitors are expected to lead the market over the forecast period. The global Anaesthesia Monitoring Devices market include major end-users like hospitals, ambulatory surgery centres and others. The hospitals segment is expected to account for the largest share of the market. The Global Anaesthesia Monitoring Devices Market is studied across various key countries of regions: North America, Europe, Asia-Pacific and the Rest of the World. North America is expected to dominate the market over the forecast period.
Sizing for Year:||2019-2029|
Players and its Competitors:|
Covidien PLC (Ireland)
Drägerwerk AG & Co. KGAA (Germany)
Fukuda Denshi (Japan)
GE Healthcare (United States)
Heyer Medical AG. (Germany)
Infinium Medical (United States)
Masimo (United States)
Mindray Medical International Limited (China)
Nihon Kohden Corporation (Japan)
Philips Healthcare (Netherlands)Schiller AG (Switzerland)
What would be forecast period in the market report?
2023-2029 is the forecast period in the market report.
What are the drivers for the Anaesthesia Monitoring Devices market?
The key driving factors of the market are increase in geriatric population, and rise in number of surgeries globally.
Which region is gaining the majority of market share during the forecast period (2023-2029)?
North America is expected to gain a major market share during the forecast period (2023-2029).