PUBLISHER: The Business Research Company | PRODUCT CODE: 1426292
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426292
Anesthesia monitoring devices play a crucial role in evaluating a patient's responsiveness to anesthetic drugs during surgical procedures. These instruments aid anesthetists in monitoring and displaying the precise dosage of anesthetic drugs administered to the patient.
The market offers diverse product types of anesthesia monitoring devices, including advanced anesthesia monitors, basic anesthesia monitors, and integrated anesthesia workstations. Advanced options encompass anesthesia gas monitors, depth of anesthesia monitors, and standalone capnography. Basic monitors cater to essential measurements such as oxygenation, ventilation, circulation, and body temperature. Anesthesia monitoring devices find applications across various medical specialties, including cardiology, neurology, dental, ophthalmology, urology, orthopedics, and more. End users of anesthesia monitoring devices span across hospitals, ambulatory surgical centers, clinics, and nursing homes. These devices are pivotal in ensuring optimal patient care and safety during medical procedures.
The anesthesia monitoring devices market research report is one of a series of new reports from The Business Research Company that provides anesthesia monitoring devices market statistics, including anesthesia monitoring devices industry global market size, regional shares, competitors with anesthesia monitoring devices market share, detailed anesthesia monitoring devices market segments, market trends and opportunities, and any further data you may need to thrive in the anesthesia monitoring devices industry. This anesthesia monitoring devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The anesthesia monitoring devices market size has declined in recent years. It will grow from $3.93 billion in 2023 to $3.78 billion in 2024 at a compound annual growth rate (CAGR) of -3.7%. The decline in the historic period can be attributed to high cost of anesthesia monitoring devices, high cost of maintenance, covid Impact.
The anesthesia monitoring devices market size is expected to see marginal growth in the next few years. It will grow to $3.87 billion in 2028 at a compound annual growth rate (CAGR) of 0.6%. The anticipated growth in the forecast period is linked to the escalation in healthcare expenditure, the adoption of remote monitoring and telemedicine, an upswing in minimally invasive surgery, and overall economic growth. Noteworthy trends expected in this period encompass integration with electronic health records (EHR), the incorporation of artificial intelligence (AI) and machine learning, the proliferation of mobile apps and wearables, the utilization of advanced sensors and connectivity, and the advancement of non-invasive monitoring technologies.
The anticipated rise in global surgical procedures is poised to drive growth within the anesthesia monitoring devices market. This surge is attributed to an increased number of surgeries, encompassing hip fracture repairs, neurosurgical interventions, cesarean sections, and various other procedures. Notably, the World Health Organization (WHO) reported a significant annual count of approximately 235 million major surgical procedures conducted globally in 2021. The predominant surgical procedures include cesarean sections, neurosurgeries, intra-abdominal procedures, and orthopedic surgeries. Additionally, a noticeable uptick in surgeries at ambulatory surgery centers is further contributing to the escalated demand for anesthesia monitoring devices.
The expanding elderly demographic is set to propel the anesthesia monitoring device market forward. The geriatric population, pertaining to the elderly within societies, is increasingly undergoing surgical procedures that necessitate vigilant anesthetic management, consequently driving the use of anesthesia monitoring devices to ensure patient safety. As of October 2022, the World Health Organization highlighted a substantial rise in the population aged 60 and above, projecting an increase from 1 billion to 1.4 billion in 2021. The forecast for 2050 anticipates a doubling in the population of adults aged 60 and above to 2.1 billion, with an estimated threefold increase in individuals aged 80 or more, reaching 426 million. This demographic shift is a significant driver behind the burgeoning anesthesia monitoring device market.
Technological advancements represent a prominent trend gaining traction within the anesthesia monitoring devices market. Numerous companies are introducing innovative, technologically advanced products in this sector. For instance, in April 2022, SCHILLER, a Switzerland-based company, launched the MRI-compatible patient monitor MAGLIFE RT-1. This state-of-the-art system is designed for patient monitoring in an MRI environment, ensuring comprehensive tracking of vital parameters during anesthesia. The MAGLIFE RT-1 facilitates close monitoring during examinations and can be entirely controlled from outside the Faraday cage through the MAGSCREEN RT-1. This system is versatile, catering to patients across different age groups, encompassing adults, children, and neonates.
Prominent players in the anesthesia monitoring device market are increasingly embracing strategic collaborations as a key aspect of their business strategies. These strategic partnerships entail cooperative relationships formed between two or more organizations with the specific aim of achieving defined business objectives and goals. An illustration of this can be observed in May 2023, when Senzime AB, a Sweden-based company specializing in the production of patient monitoring systems, announced an expansion of its collaboration with Fukuda Denshi, a renowned Japanese-based company with expertise in patient monitoring. This extended partnership encompasses the manufacturing of TetraGraph systems, a cutting-edge technology developed by Senzime. The TetraGraph technology is instrumental in monitoring neuromuscular blockade during anesthesia and is founded on electromyography (EMG) technology, offering precise and sensitive readings.
In May 2023, SunMed, a US-based manufacturer of consumable medical devices tailored for anesthesia and respiratory care, executed the acquisition of Vyaire Medical for an undisclosed sum. This strategic move positions SunMed as a leading manufacturer solely dedicated to airway management and operative care, providing a more comprehensive range of offerings for healthcare practitioners. The acquisition solidifies SunMed's role as a one-stop source for high-quality consumable respiratory and anesthesia medical products, thereby enhancing the support for optimal patient outcomes. Vyaire Medical, a US-based medical device company specializing in anesthesia care products and solutions, is a key component of this strategic initiative.
Major companies operating in the anesthesia monitoring devices market include Baxter International Inc., Cardinal Health Inc., Draegerwerk AG & Co. KGaA, GE Healthcare, Heyer Medical AG, Intersurgical Limited, Medtronic Inc., Mindray Medical International Limited, Nihon Kohden Corporation, Philips Healthcare, Smiths Medical Inc., Infinium Medical Inc., Fukuda Denshi Co. Ltd., Becton Dickinson and Company, Ambu A/S, Teleflex Incorporated, Ventlab, ACOMA Medical Industry Co., BPL Medical Technologies, Dixion GmbH, Lowenstein Medical GmbH & Co. KG, Medasense Biometrics Ltd., Veterinary Anesthesia Systems Inc., CNSystems Medizintechnik GmbH, Allied Medical Limited, Criticare Technologies Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Masimo Corporation, Spacelabs Healthcare Inc., Mennen Medical Ltd., Koninklijke Philips N.V., BrainU Co. Ltd., OSI Systems Inc., Penlon Limited, Natus Medical Incorporated, Schiller AG, Edwards Lifesciences Corporation, Bionet Co. Ltd., DRE Medical Inc., Digicare Biomedical Technology Inc.
North America was the largest region in the anesthesia monitoring devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the anesthesia monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the anesthesia monitoring devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The anesthesia monitoring devices market consists of sales of clinician monitoring, Respiratory monitoring system, Circulatory system monitoring, and temperature monitoring system. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Anesthesia Monitoring Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on anesthesia monitoring devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for anesthesia monitoring devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The anesthesia monitoring devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.