Anesthesia Monitoring Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2682
Anesthesia Monitoring Devices Market size is estimated to experience significant growth from 2018 to 2024.
Technological advancements will drive the market growth of anesthesia monitoring devices. Anesthesiology technology has shown significant and measurable improvements in the segment of patient care in last few years. Use of the technologies such as echocardiographic imaging, advanced airway devices, arterial pulse oximeters, portable ultrasound, electronic infusion pumps and gas analyzers have assisted in reducing mortality attributional to anesthesia. Hence, use of technologically advanced devices will propel the anesthesia monitoring device market.
Automation of the anesthesia monitoring device will be of great importance as it will decrease the workload of anesthesiologist, improve the safety of the patient and will increase the cost-effectiveness of the anesthesia. Automation of the devices will aid in monitoring and responding to the vital signs of the patient. This reliable automation devices with robust and adaptive control will significantly impact the growth of anesthesia monitoring device market.
The high cost of the anesthesia monitoring device will be a restraining factor. The new and improved anesthesia monitoring devices have led to certain dramatic changes in the field of anesthesiology, leading to increase in the cost of the device. Cost of the device is a major factor that need to be considered for the anesthesia monitoring devices market to flourish in the upcoming future.
Integrated anesthesia workstation has evolved into an advanced care station. The use of this advanced anesthesia monitoring device will boost the market growth in the future. Integrated anesthesia workstation uses modern software, technology and electronics that provide capabilities for closed-loop anesthesia, ventilation, inhaled agent delivery and low-flow anesthesia. Hence, these technological advancements will help the anesthesia monitoring device market grow in the near future.
Increase in number of cases related to minimal pain surgeries in the hospitals will be a major breakthrough with respect to anesthesia monitoring devices. The hospitals need to monitor the patient thoroughly throughout the surgical process to avoid any unwanted complications. The increasing use of anesthesia monitoring devices in the hospitals will be a major business growth factor in the future.
In the North America region, U.S. is estimated to dominate the anesthesia monitoring device market. In the U.S. more than 21 million patients are given general anesthesia. The increase in number of surgical procedures carried out in U.S. has risen in the past few years. The overall rise in the cesarean (C-section) procedure will create ample amount of opportunities for the market to flourish in the future. In the Asia-Pacific region, India is predicted to show robust growth in the anesthesia monitoring device market. Rising awareness about the use of anesthesia will benefit the market to grow. Also, increase in the number of patients undergoing complex surgeries such as cardiovascular, neurological and respiratory, will be responsible for the growth of anesthesia monitoring device in the future.
Some of the key industry players include Masimo, Infinium Medical, Medtronic (Covidien), GE Healthcare, Nihon Kohden, Philips Healthcare and Mindray Medical. The industry players focus on strategic alliances, launching of new innovative product and to expand their business product portfolio across the globe as main strategies. In September 2016, Mindray medical introduced a new product, Optimizer for the A7 anesthesia workstation. This product supports real time anesthesia monitoring during the procedure, helps in minimizing the agent waste and is easy to access and user friendly.
Anesthesia Monitoring Devices Market by product, 2013-2024 (USD Million)
- Basic Anesthesia Monitor
- Integrated Anesthesia workstation
- Advanced Anesthesia Monitor
- Standalone Capnography
- Monitors for measurement of Anesthesia depth
- Gas Monitor
- MRI Compatible
- Others (IT)
Anesthesia Monitoring Devices Market by end-use, 2013-2024 (USD Million)
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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