Austin, Nov. 13, 2024 (GLOBE NEWSWIRE) -- The S&S Insider report indicates that, “The Anesthesia Monitoring Devices Market was valued at USD 2.03 Billion in 2023 and is projected to reach USD 5.26 Billion by 2032, growing at a compound annual growth rate (CAGR) of 11.21% from 2024 to 2032.”
Technological Advancements Enhance Anesthesia Monitoring Devices, Improving Patient Outcomes and Operational Efficiency
The anesthesia monitoring devices market is likely to grow particularly based on technological innovation that will improve functionalities such as real-time gas analysis depth-of-anesthesia assessment, and electronic health record integration, among other things. All these culminate in improved outcomes and lower risk of complications. This presents the prospect of increased investment by ensuring patients are given better monitoring technologies. Application of AI within this context involves ANN improves the monitoring accuracy further promising a heightened level of safety, with an accuracy level of 83.3%.
Another major driver for adopting the latest anesthesia devices in Ambulatory Surgical Centers is that it generates huge savings in health care costs. ASCs wish to make use of effective and cost-effective monitoring devices since the count of outpatient procedures is increasing day by day. Improved growth in integrated anesthesia workstations ensures enhanced workflows, thereby better patient care and operational efficiency. With AI, healthcare is maximally optimized as there are fewer administrative tasks and more time with patients to finally enhance the overall result of anesthesia monitoring devices.
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Leading Players:
- Medtronic (Datex-Ohmeda S/5 Anesthesia Monitor, Capnograph Monitoring System)
- GE Healthcare (Carestation 650 Anesthesia System, Datex-Ohmeda S/5 Anesthesia Monitor)
- Philips Healthcare (IntelliVue MX40, IntelliVue MP5 Anesthesia Monitor)
- Drägerwerk AG & Co. KGaA (Fabius Anesthesia Workstation, Perseus A500 Anesthesia Machine)
- Masimo Corporation (Rad-97 Pulse CO-Oximeter, Root Patient Monitoring Platform)
- Mindray Medical International Limited (A3 Anesthesia Monitor, BeneView T8 Patient Monitor)
- Nihon Kohden Corporation (NM-8000 Anesthesia Monitor, Life Scope G5 Patient Monitor)
- Schiller AG (Custo Screen 100, Custo Monitor 5000)
- Becton, Dickinson and Company (BD) (BD Nexiva™, BD Alaris™ System)
- Fukuda Denshi Co. Ltd. (FCP-8100 Anesthesia Monitor, DS-5200 Patient Monitor)
- Infinium Medical, Inc. (Anesthesia Monitor 5000, Infinium Patient Monitor)
- Koninklijke Philips N.V. (IntelliVue MP5, IntelliVue MX40)
- Siemens Healthineers (SC7000 Anesthesia Monitor, SOMATOM Definition Edge CT Scanner)
- Abbott Laboratories (Alinity m System, POCcelerate Anesthesia Monitor)
- Honeywell International (Honeywell Sensing and Internet of Things Solutions, Series 3000 Anesthesia Monitor)
- Mindray (BeneView T8, A3 Anesthesia Monitor)
- Fujifilm Holdings Corporation (Fujifilm SonoSite Edge II, SonoSite M-Turbo Ultrasound)
- Beijing Xiyuan Technology (XH-8020 Anesthesia Monitor, XH-8030 Patient Monitor)
- Cairnry Corporation (AeroSync Monitoring System, AEROSIM Anesthesia Simulator)
- Biolight (BL-8200 Anesthesia Monitor, BL-3200 Multi-Parameter Patient Monitor)
- Toshiba Medical Systems (Aquilion One, Anesthesia Workstation MA-3000)
- Carestream Health (Carestream OnSight 3D Extremity System, Carestream PACS for Anesthesia)
Anesthesia Monitoring Devices Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 2.03 Billion |
| Market Size by 2032 | USD 5.26 Billion |
| CAGR | CAGR of 11.21% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Basic Anesthesia Monitor, Integrated Anesthesia Workstation, Advanced Anesthesia Monitor) • By End-use (Hospitals, Ambulatory Surgery Centers, Others) |
| Key Drivers | • Rising Demand for Enhanced Patient Safety and Precise Anesthesia Monitoring |
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Enhanced Patient Safety and Precision in Anesthesia Monitoring Devices Market
With the increasing demand for patient safety, progress in AI and sensor technologies is essential for enhanced anesthesia monitoring accuracy. Personalized medicine along with machine learning enhances precision, allowing for early prediction of complications and facilitating proactive treatment. Moreover, tighter safety regulations and governmental backing are promoting investments in these technologies to mitigate risks and improve results during procedures.
Hospitals Lead the Anesthesia Monitoring Devices Market with 74% Revenue Share in 2023
Hospitals held the largest revenue share of about 74% in 2023 in the anesthesia monitoring devices market. This dominance is attributed to the higher patient population base and the increasing need for sophisticated monitoring in complex surgical procedures. The upgraded access to advanced technologies will benefit hospitals in that they will have the opportunity to purchase new equipment to advance patient outcomes. As a result, these organizations remain key players in the market. However, ASCS are expected to grow the fastest CAGR of 14.31% from 2024–2032 as they seek more cost-effective and efficient monitoring solutions driven by the expansion of outpatient procedures.
Advanced Anesthesia Monitors Drive Market Growth, Accounting for 51% of Revenue in 2023
The advanced anesthesia monitors segment accounted for the largest revenue share of over 51% in 2023. They are chosen because they provide real-time, holistic data with essential metrics such as multi-parameter monitoring, depth-of-anesthesia assessment, and wireless connectivity. These high-end functionalities significantly improve patient safety and clinical outcomes, especially during complex procedures. With a growing need for proper monitoring and the shift to advanced non-invasive surgeries, the Sleep Study Equipment segment is expected to grow at a compound annual growth rate of 12.23% between 2024-2032, showcasing a long-term demand for advanced technology in anesthesia services.
North America Dominates and Drives Growth in Anesthesia Monitoring Devices Market
In 2023, North America hold nearly about 38% of the total revenue of the anesthesia monitoring devices market. The region takes advantage of better healthcare infrastructure, higher spending on healthcare, and emphasis on patient safety that maintains it in the leading position. North America will continue to remain the significant market for anesthesia monitoring devices, especially during sophisticated surgery, as it is a hub for most of the manufacturers and the first adopter of new medical technologies.
North America is expected to have the highest CAGR of 12.00% during the forecast period of 2024 to 2032. The market will be driven by greater demand for minimally invasive procedures and developments in monitoring technology. However, the growth of the aging population, rising chronic illnesses, and steady advancements in technology are likely to drive market growth. The shift towards more outpatient treatments and the design of next-gen monitoring systems are further likely to propel the adoption of anesthesia monitoring devices across the region.
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Key Developments in Anesthesia Monitoring Devices Market
- Medtronic's BIS™ Advance monitor gained FDA 510(k) approval in 2024, providing an enhanced interface for accurate brain monitoring, and assisting anesthesia professionals in adjusting dosages for improved patient results.
- In 2024, GE HealthCare and Hartford HealthCare broadened their seven-year collaboration to improve patient care in Connecticut, emphasizing AI-driven advancements in anesthesia, patient monitoring, and maternal-infant health.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.4 Strategic Initiatives
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Anesthesia Monitoring Devices Market Segmentation, by Product
7.1 Chapter Overview
7.2 Basic Anesthesia Monitor
7.3 Integrated Anesthesia Workstation
7.4 Advanced Anesthesia Monitor
8. Anesthesia Monitoring Devices Market Segmentation, by End Use
8.1 Chapter Overview
8.2 Hospitals
8.3 Ambulatory Surgical Centers
8.4 Others
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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