Newark, July 17, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2 billion in 2022 global anesthesia monitoring devices market will reach USD 5.67 billion in 2032. According to several credible organizations, approximately 300 million surgeries are performed annually. However, around 10% of these surgeries have adverse effects on patient health, and many patients die or must be readmitted within a month. However, with technological advancements and policy interventions, surgical outcomes have improved. They have successfully facilitated bettering and lengthening the life of chronically ill patients. Therefore, the demand for elective surgeries has increased. The increasing healthcare expenditure to improve infrastructure, services, and systems also augment the rising demand for elective surgeries. Given the increasing demand for surgeries, the global anesthesia monitoring devices market will witness favourable growth during the forecast period.
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Report Attribute Details
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 5.67 Billion |
| Market size value in 2022 | USD 2 Billion |
| Expected CAGR Growth | 11% from 2022 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 - 2032 |
| Top Market Players | ACOMA Medical Industry Co. Ltd., Criticare Systems Inc., Drägerwerk AG & Co. KGaA, GE Healthcare, HEYER Medical AG, Koninklijke Philips N.V., Masimo, Medtronic Plc., Mindray Medical International Limited, Schiller AG |
| Segments Covered | Product Type and end user |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Key Insight of the Global Anesthesia Monitoring Devices Market
North America is expected to rise the fastest during the forecast period.
American companies dominate the market for anaesthesia monitoring devices in North America. The presence of sizable market players ensures access to the most cutting-edge medical gadgets. The region's rising chronic illnesses are catered for by the well-established healthcare system and beneficial reimbursement practices. The market will benefit from the rising healthcare costs necessary to provide universal health coverage for everyone. The region's healthcare infrastructure is outfitted with cutting-edge medical technologies, which will fuel the market's expansion.
In 2022, the advanced anesthesia monitors segment dominated the market with the largest market share of 45% and market revenue of 0.90 billion.
The product type segment is divided into advanced anesthesia monitors, basic anesthesia monitors, integrated anesthesia workstations, and others. In 2022, the advanced anesthesia monitors segment dominated the market with the largest market share of 45% and market revenue of 0.90 billion.
In 2022, the hospitals' segment dominated the market with the largest market share of 56% and market revenue of 1.12 billion.
The end-user segment is divided into hospitals and ambulatory surgery centres. In 2022, the hospitals' segment dominated the market with the largest market share of 56% and market revenue of 1.12 billion.
Advancement in Market
February 2022 - Masimo announced that the SedLine Paediatric EEG Sensor and brain function monitoring for paediatric patients received FDA clearance. SedLine's superior signal processing technology from Masimo enables it to handle electroencephalogram (EEG) signals from the four-lead SedLine EEG sensors, which enables clinicians to monitor brain activity bilaterally. SedLine includes the display of EEG signals and the Multitaper Density Spectral Array (DSA) from both sides of the brain to give clinicians a complete picture of the brain and help them monitor anaesthesia depth in children.
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Market Dynamics
Driver: The prevalence of chronic diseases is increasing globally.
The rising prevalence of chronic pulmonary, cardiac, and ortho illnesses results from the growing elderly population. The prevalence of chronic illnesses has also increased due to lifestyle changes and environmental deterioration. The rising numbers of obese and diabetic people are causing the growth in cardiac patients. Along with an increase in trauma events, acute diseases have also increased. Successful surgical inventions that save patient lives are now possible given the technical improvements, product innovations, and scientific breakthroughs and discoveries that were not feasible a few decades ago. The demand for surgeries has increased due to the development of life-saving surgical techniques, minimally invasive surgeries, and improved patient outcomes with better medical interventions. As a result, the frequency and prevalence of chronic diseases will rise, increasing the need for surgical procedures. Anesthetic monitoring devices are a crucial component of surgical procedures. Therefore, this will propel the expansion of the worldwide anaesthetic monitoring devices market.
Restraints: The possible side-effects of Anesthesia.
Anesthesia has several advantages. However, it also has several negative side effects that are uncomfortable for the patient, can extend their hospital stay and recovery time, and drain them emotionally, physically, and financially. Minor adverse effects include headaches, fever, body aches, nausea, and vomiting. The adverse effects might be severe and lead to neurological impairment. Anesthesia's harmful effects will therefore hamper the market's expansion. In addition, appropriately providing general anaesthesia is a delicate science fraught with danger. During procedures, the doses must be modified based on how the body responds. As a result, the need for more trained anaesthesiologists would also restrain the market's expansion.
Opportunities: Technological advancements.
To enhance patient outcomes, research and development of better and more modern medical devices, technologies, systems, equipment, and drugs have been sparked by the rising demand for elective surgical procedures. Similar patterns in anaesthesia monitoring technology have been observed. Gadgets with more functions to make patient monitoring more accessible and maintain their general well-being have gained popularity in the market. These gadgets are smart, trustworthy, accurate, and lasting. Therefore, the market's expansion during the projected period will be driven by product advancements that result in the creation of sophisticated anaesthesia monitoring devices that offer improved insights.
Challenges: The stringent rules, regulations and guidelines.
The pharmaceutical and healthcare sector directly impacts the general public. Therefore, it is necessary to have a robust regulatory framework that governs the sector and its stakeholders to protect the average citizen's interests. Each medical drug, device, equipment, and protocol is tested on several levels. It is then put through rigorous questioning by regulators before being authorized for the commercial market or use in general. The stringent rules, regulations and guidelines governing the trials, testing, approval, documentation, verification and use of anesthesia monitoring devices will challenge the market’s growth.
Browse the full report with Table of Contents and List of Figures: Anesthesia Monitoring Devices Market Size, Trends, Growth Report, 2032
Some of the major players operating in the global anesthesia monitoring devices market are:
• ACOMA Medical Industry Co. Ltd.
• Criticare Systems Inc.
• Drägerwerk AG & Co. KGaA
• GE Healthcare
• HEYER Medical AG
• Koninklijke Philips N.V.
• Masimo
• Medtronic Plc.
• Mindray Medical International Limited
• Schiller AG
Key Segments cover in the market:
By Product Type
• Advanced Anesthesia Monitors
• Basic Anesthesia Monitors
• Integrated Anesthesia Workstation
• Others
By End User
• Hospitals
• Ambulatory Surgical Centres
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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