The Anesthesia Monitoring Devices Market Size was valued at USD 1.4 billion in 2023 and is expected to reach USD 2.2 billion by 2031, and grow at a CAGR of 6.0% over the forecast period 2024-2031.
Automated medical record keeping systems, such as an anesthesia information management system assist in the automated and reliable collection, storage, presentation of a patient's medical history during the perioperative period. These are the specialized forms of electronic health record (EHR) systems that provide basic record-keeping functions and provide end-users with ready access to patient history that can be used to facilitate quality assurance and research functions. The growth of the market is therefore expected to be stimulated by this. Anesthesia monitoring equipment is a device for the purpose of providing vital information of patient monitoring when they are subjected to anesthesia.
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The growth of this industry is expected to be further stimulated by technological progress. For example, prior to that time, basic pneumatic devices with discrete units for monitoring vital signs such as heart rate, respiratory rate, blood pressure, body temperature, movement and urine volume during preoperative care were anaesthesia monitors. However, today's integrated equipment with advanced monitoring capabilities and Decision Support Systems (DSS) not only monitors more complex parameters such as transcutaneous oxygen saturation, inhalation anaesthesia or end-tidal concentrations of carbon dioxide and oxygen but also provides data to help healthcare professionals make decisions about therapeutic intervention.
DRIVERS
Market growth is being driven by an increase in the number of chronic diseases
Increasing the number of procedures to drive market growth
The increase in the number of surgical procedures worldwide is one of the key factors that are likely to have a positive impact on the growth of the market for anesthesia monitors. The increase in the number of operations is due, for example, to an increase in the number of diseases, such as heart disease and cancer. Globally, approximately 310 million major surgical procedures are performed each year, approximately 40 to 50 million in the United States and approximately 20 million in Europe, according to the National Institute of Health NIH. Consequently, the growth of the market will be driven by an increase in or a greater adoption of anesthesia monitoring devices.
RESTRAINTS
Accessibility of Traditional Methods
Market growth is hampered by the availability of conventional techniques
The availability of conventional techniques is a factor that hinders the growth of the global anesthesia monitoring device market. The new monitoring devices require well educated and trained anesthesiologists who have a good understanding of electronics and innovative techniques to operate them. The lack of anaesthesiologists worldwide makes it difficult for physicians to switch to novel techniques, which is leading to a rapid increase in the use of conventional techniques worldwide. Furthermore, conventional techniques for anaesthesia monitoring continue to be used by a number of physicians.
OPPORTUNITIES
The number of the elderly in the world is increasing
The growing preference for less complicated surgical procedures
Significant growth opportunities are expected for the players in the Global Anesthetic Monitoring Devices Market as a result of increasing preference among patients worldwide for Minimally Invasive Procedures. For example, the demand for anesthesia monitoring devices has increased due to an increase in the number of minimally invasive procedures for chronic diseases.
CHALLENGES
An intense or minimal competition between the region's and country's brands
Excessive costs of monitoring devices
The high cost of anesthesia monitoring equipment is one of the key factors that are expected to discourage growth in the global anaesthesia monitoring market. The cost of anaesthesia monitoring equipment is very high. In addition, the cost of anesthesia monitoring devices is proportionately increased by costs such as transport costs, labour costs, training costs, maintenance costs, and others. The demand for anesthesia monitoring devices is limited by high costs associated with these monitors. However, market participants are currently providing top quality products at an affordable price.
The Russia Ukraine War will have a negative impact on the Russian Medical Devices sector due to worsening financial sanctions, because US and European imports account for more than half of all medicinal products. The financing decisions on the suspension of trade with Russia also have an impact on society in general. The analyses show that the media have reacted positively to Conform's decisions, whereas Coca cola which continues its operations in Russia has received a great deal of criticism for their decision and even resulted in retailers removing their products from store shelves. However, it appears that these decisions are more politically motivated than financially driven because the loss of exported Russian medical devices is not expected to have a significant impact on global sales as they represent less than 0.04% of all medical devices sold.
Economic uncertainty tends to lead to a decrease in elective surgery and medical procedures, as patients postpone nonurgent treatments due to financial concerns, during economic downturns. The demand for anesthesia monitoring devices, which are mainly used in operating rooms, is directly affected by this reduction of surgical volume. In addition, difficulties in obtaining funding for these capital expenditures may be encountered by healthcare facilities which are subject to budgetary constraints. In times of economic slowdowns, banks and lending institutions may impose stricter credit criteria in order to hinder investment in healthcare. Moreover, manufacturers of anaesthesia monitoring devices may be subject to competition pricing pressures in the absence of increasing demand, which could squeeze profit margins and limit available R&D resources. Disruption of the supply chain is also a concern, as global supply chains can be disrupted by downturns leading to delays in production and delivery of healthcare equipment components.
By Product
Advanced anesthesia monitors
Anesthesia gas monitors
Depth of anesthesia
Standalone capnography monitors
Others
Basic anesthesia monitors
Integrated anesthesia workstations
In 2023, USD 319.2 million of revenue was generated by the advanced anesthesia monitoring segment. The ability to monitor the depth of anaesthesia is often included in advanced anesthesia monitoring. In order to measure the patient's level of consciousness and the depth of anaesthesia, these monitors provide several parameters, such as bispectral index BIS, entropy or spectral analysis. In addition, the integration of capnography with an anesthesia monitor can allow realtime monitoring and assist in detecting abnormalities or complications related to breathing.
By End-Use
Hospitals
Ambulatory surgical centers
Others
In 2023, the hospitals segment accounts for more than 72% of total market share. High growth in the segments can be attributed to increased demand for surveillance devices in surgical or anaesthesia settings. In addition, in order to improve the patient's outcomes, more and more advanced monitoring devices are being integrated into hospital environments.
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North America is expected to gain highest market share of 43% over the forecast period owing to the increasing prevalence of chronic diseases, such as cardiovascular diseases and cancer, the region is experiencing an increase in the number of surgery procedures and a growing elderly population. For instance, according to the U.S. Centers for Disease Control and Prevention (CDC), six in ten adults in the U.S. currently live with a chronic disease such as cancer, heart disease, or diabetes. Chronic diseases are among the leading causes of death in the United States with heart disease and cancer alone accounting for around 38.0% of all deaths.
Due to the increasing burden of chronic diseases, an increase in demand for pain free surgery and new monitoring techniques being introduced in these regions, Europe and Asia Pacific are expected to experience strong growth within the global anaesthesia monitor market. For example, the increase in the number of operations is due to an increase in the number of diseases, such as heart disease and cancer. As per the World Health Organization (WHO), cancer ranks as the second most prevalent cause of mortality and morbidity in Europe, following cardiovascular diseases, accounting for over 3.8 million new diagnoses and 1.9 million fatalities annually.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some of the major key players are Ambu A/S, B. Braun Melsungen AG, Draegerwerk AG & Co. KGAA., General Electric, Becton Dickinson and Company, Smith Medical, 3M Company, SunMed, Koninklijke Philips N.V., Teleflex Incorporated and other players.
In January 2023, BOMImed Inc. has signed a distribution agreement with Mindray North America. BOMImed will distribute Mindray anesthesia, monitoring and ultrasound equipment in Canada by means of this agreement. Their customer base has been expanded by both companies.
In June 2022, The FDA 510k clearance and CE Mark approval for the inclusion of Micro stream capnography technology and INVOS regional oximetry on a precision monitoring system have been granted to Medtronic and GE Healthcare. The use of micro stream capnography allows physicians to predict and prevent perioperative complications more quickly than traditional peripheral measurements. For both companies, these developments allowed them to compete more effectively.
Report Attributes | Details |
---|---|
Market Size in 2023 | US$ 1.4 Billion |
Market Size by 2031 | US$ 2.2 Billion |
CAGR | CAGR of 6% From 2024 to 2031 |
Base Year | 2023 |
Forecast Period | 2024-2031 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Product (Advanced Anesthesia Monitors, Basic Anesthesia Monitors, Integrated Anesthesia Workstations) • By End-use (Hospitals, Ambulatory Surgical Centers) |
Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
Company Profiles | Ambu A/S, B. Braun Melsungen AG, Draegerwerk AG & Co. KGAA., General Electric, Becton, Dickinson and Company, Smith Medical, 3M Company, SunMed, Koninklijke Philips N.V., Teleflex Incorporated. |
KEY DRIVERS | • Anesthesia Technology Is Increasingly Advanced •Rising Interest in Pain-Free Surgery •Making progress in automated record-keeping systems |
Restraints | • Accessibility of Traditional Methods • Costly Anesthesia Monitoring Equipment |
Ans: The anesthesia monitoring devices market was valued at USD 1.4 billion in 2023.
Ans: The Anesthesia Monitoring Devices market is growing at a CAGR of 12.2% over the forecast period 2023-2030.
Anesthesia Monitoring Devices Market is divided into Three segments By Product, By Application, By End User
The market was dominated by North America due to the region's high acceptance of technology advancements.
The orthopedics sector led the market for anesthetic equipment globally.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Demand Vs Supply Chain Analysis
10. Anesthesia Monitoring Devices Market Segmentation, By Product
10.1 Introduction
10.2 Trend Analysis
10.3 Advanced anesthesia monitors
10.3.1 Anesthesia gas monitors
10.3.2 Depth of anesthesia
10.3.3 Standalone capnography monitors
10.3.4 Others
10.4 Basic anesthesia monitors
10.5 Integrated anesthesia workstations
11. Anesthesia Monitoring Devices Market Segmentation, By End-use
11.1 Introduction
11.2 Trend Analysis
11.3 Hospitals
11.4 Ambulatory surgical centers
11.5 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
12.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
12. Company Profiles
13.1 Ambu A/S
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 B. Braun Melsungen AG
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
12.3 Draegerwerk AG & Co. KGAA.
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 General Electric
13.4.1 Company Overview
13.4.2 Financial
12.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Becton Dickinson and Company
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Smith Medical
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 3M Company
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 SunMed
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
12.8.5 The SNS View
13.9 Koninklijke Philips N.V.
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Teleflex Incorporated
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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