Anesthesia Equipment Market Forecasts to 2030 - Global Analysis By Type, Application, End User and By Geography

According to Stratistics MRC, the Global Anesthesia Equipment Market is accounted for $8.30 billion in 2023 and is expected to reach $14.77 billion by 2030 growing at a CAGR of 8.6% during the forecast period. A specific set of medical tools and instruments known as anesthesia equipment is used to deliver and monitor anesthesia during surgical procedures and other medical treatments. These crucial devices that ensure the safe and accurate administration of anesthetic agents, such as gases and injectable drugs, to patients in order to cause unconsciousness, relieve pain, and relax their muscles. In general, anesthesia equipment consists of devices that regulate the concentration and flow of anesthetic chemicals as well as monitors for vital indicators including oxygen levels, blood pressure, and heart rate.

According to the WHO, cancer is the leading cause of death globally and was responsible for an estimated 10 million deaths in 2020.

Market Dynamics:

Driver:

Rising demand in anesthesia delivery

Modern anesthetic technology allows for accurate and regulated anesthesia drug administration, ensuring optimal dosage and lowering the possibility of medication errors, this result in increased patient comfort and quicker healing times. Additionally, improvements in drug delivery technologies, such as patient-controlled analgesia devices and target-controlled infusion pumps, enable customized anesthetic delivery that is specialized to the needs of each patient. Therefore, these aspects propel the market size.

Restraint:

Rise in cost

Advanced anesthetic equipment development and manufacturing demand large investments in research, materials, and technology, the equipment is expensive since these costs are frequently transferred to healthcare providers. Furthermore, budget restrictions may prevent healthcare facilities and clinicians, particularly in environments with limited resources, from making investments in modern technology which hampers the growth of the market.

Opportunity:

New technological innovations

The advancements in technology brought forth by the ongoing development of anesthetic equipment further enhance patient care. Data analysis, decision support, and predictive modelling are made possible through the integration of artificial intelligence (AI) and machine learning (ML) algorithms, this helps anaesthesiologists make wise choices, deliver anesthesia more effectively, and enhance patient outcomes. Moreover, the equipment used in anesthesia is made to accommodate a variety of operations and patient groups. Thus, it provides flexibility in terms of various anesthetic treatments, such as sedation, regional anesthesia, and general anesthesia.

Threat:

High competition

The market is competitive since there are many local, national, and international sellers. On the other hand, small and medium-sized suppliers have limited financial and technical capabilities in addition to limited product offerings. As a result, in terms of quality, dependability, and R&D, many providers fall short of well-known vendors. Therefore, during the projection period, these factors will restrain market expansion.

COVID-19 Impact

The development of the COVID-19 pandemic had a significant effect on the world economy and healthcare system. Early on in the pandemic, healthcare facilities all across the world stopped performing elective procedures because of the rising number of COVID-19 cases. Moreover, due to the pandemic, many people avoided going to hospitals, procedures were delayed, and patient monitoring and chronic illness treatment were severely disrupted. Therefore, the market for anesthetic equipment, the manufacturing and supply chain had to deal with challenges such as incompatible product demand and on-time delivery of devices to end consumers.

The anesthesia disposables segment is expected to be the largest during the forecast period

The anesthesia disposables segment is estimated to hold the largest share, due to the disposable items which are essential for preserving cleanliness and limiting the spread of infections in medical facilities. Laryngeal masks, breathing circuits, endotracheal tubes, and filters are just a few examples. Moreover, due to their one-time-use design, they pose less of a danger of cross-contamination and don't require sterilization. Therefore, with a growing emphasis on patient safety and infection control, this sector of the anesthetic equipment market is expanding steadily.

The cardiology segment is expected to have the highest CAGR during the forecast period

The cardiology segment is anticipated to have highest CAGR during the forecast period. Cardiac anesthesia entails the delivery and supervision of anesthesia during heart procedures and interventions. This segment's equipment includes sophisticated heart function monitoring tools like transesophageal echocardiography (TEE) probes, cardiac output monitors, and electrocardiograms (ECGs). Additionally, for anaesthesiologists to guarantee patient security and accurate anesthetic management during challenging cardiac procedures, these instruments are essential. Therefore, in order to improve patient outcomes and safety in the fields of cardiology and cardiovascular medicine, the cardiology sector addresses the special requirements and difficulties connected with cardiac procedures.

Region with largest share:

North America commanded the largest market share during the extrapolated period owing to the benefits from a strong healthcare infrastructure, cutting-edge medical facilities, and a significant volume of operations across North America. Additionally, the adoption of contemporary anesthetic systems is driven by regulatory compliance and adherence to exacting safety requirements. The constant need for outstanding anesthetic equipment in North America is further fuelled by an aging population and rising healthcare costs. A significant number of well-known suppliers of anesthetic equipment are present in the market, and technical innovation is becoming increasingly important. Therefore, these aspects contribute to the market's expansion.

Region with highest CAGR:

Europe is expected to witness highest CAGR over the projection period, owing to healthcare infrastructure, stringent regulatory standards, and a rising demand for advanced anesthesia solutions. Europe is a key and competitive region in the worldwide anesthetic equipment market because many European healthcare systems prioritize quality and efficiency. Therefore, this has led to a consistent demand for cutting-edge anaesthetic equipment, including monitoring devices and delivery systems.

Key players in the market:

Some of the key players in the Anesthesia Equipment Market include: Ambu A/S, B. Braun Melsungen AG, Becton Dickinson and Company, Dragerwerk AG & Co. KGaA, GE HealthCare Technologies, Inc., Getinge AB, Heyer Medical AG, Koninklijke Philips N.V., Medline Industries, Inc., Medtronic PLC, Penlon Ltd., Pentax, SunMed, LLC, Teleflex Incorporated and Ventlab.

Key Developments:

In September 2023, Mayo Clinic and GE HealthCare announce a strategic healthcare collaboration for research and product development programs aimed to transform the experience of patients and clinicians in the practice of radiology and the delivery of novel therapies.

In July 2023, The American Society of Anesthesiologists (ASA) announced it has been selected as a 2023 Best and Brightest Companies to Work For in the Nation. This marks the seventh consecutive year the Society has received the designation.

In April 2022, GE Healthcare announced the FDA pre-market approval (PMA) for its End-tidal (Et) Control software for general anesthesia delivery on its Aisys CS2.

Types Covered:

• Anesthesia Disposables
• Anesthesia Devices
• Other Types

Applications Covered:

• Cardiology
• Dental
• General Surgery
• Neurology
• Ophthalmology
• Orthopedics
• Respiratory Care
• Urology
• Other Applications

End Users Covered:

• Clinics
• Ambulatory Surgical Centers
• Hospitals
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances