Anesthesia Monitoring Device Market by product type (integrated anesthesia workstations, advanced anesthesia monitors and basic anesthesia monitors) on the basis of end users (ambulatory services, private clinics, hospitals and others)
The factors driving the growth of anesthesia monitoring device market is rising number of surgeries and continuous innovative development. Also, the introduction of various innovative monitoring techniques such as advanced neurological monitoring, goal-directed fluid therapy, improved alarm system, and monitoring the depth of anesthesia are the advancements driving the growth of the anesthesia monitoring device market. On the other hand, major factors to hamper the growth of the market include the high cost of devices and its complex nature which makes it difficult to check integrity and proper functioning of the device.
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Due to the advancements in technology and new surgical procedure, the life expectancy of individuals has extended. The geriatric population is highly prone to the chronic illnesses, and degenerative diseases, which have led to increasing number of surgeries and therapeutics. Continuous monitoring is required during surgeries, which will increase the demand for anesthesia monitoring devices. The device with advanced monitoring capabilities and decision support systems not only monitor parameters such as transcutaneous oxygen saturation, end-tidal concentrations of carbon dioxide, and inhalation anesthetics but also runs data analysis to help the clinicians to take decisions related to therapeutic and surgical interventions.
There are various side effects of anesthesia monitoring devices, such as post-surgery delirium and cognitive disturbance related to anesthesia mainly in elderly patients, which is a raising concern among physicians. These have led to the research and development studies, which aim at analyzing the impact of administration of anesthesia in geriatric patients.
General Electric Company is one of the leading medical device manufacturing company. Aespire, Aisys, Avance and Carestation 600 Series have broadly used anesthetic products of the company, out of which, Aespire 7900 is the popular cost-effective device. Sedana Medical, another leader in the market, is working on the development of different medical devices. The company is a developer of Anaesthetic Conserving Device (AnaConDa) FlurAbsorb Mount, AnaConDa Syringe and AnaConDa-S, which are some of the majorly used products of the company. In South Korea, AnaConDa is approved by the K-FDA, which is the first country in Asia to approve the product.
Based on the regional analysis, the global market is segmented into North America, Europe, Asia-Pacific, and LAMEA. According to American Society of Anesthesiologists, it was estimated that around 30 million anesthetics are being administered every year. Europe is a second largest market for this device. Rising surgeries in various therapeutic areas such as aesthetic plastic surgeries, orthopedics and neurology in Europe is the main reason for the development of the market. New product techniques and collaborative developments are strategic initiatives taken by industries to remain in the competition.
Major players in the market are Smiths Medical, Inc., Philips Healthcare, Nihon Kohden Corporation, Mindray Medical International Limited, Intersurgical Limited, Medtronic, Inc., Heyer Medical AG, GE Healthcare, Draegerwerk AG & Co. KGaA, Cardinal Health and Baxter International, Inc. among others.
This report provides analysis of anesthesia monitoring device market that contains current industry trends, market size, market growth and demands, major players with their key strategies. It covers growth opportunities and market canvas in the coming years. The report has been made with an in-depth analysis along with inputs from the various industry experts. The research has been carried out with primary and secondary data sources and either supporting bottom-up or top-down approach.
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Global Composite Testing Market Segmentation:
•Integrated anesthesia workstations
•Advanced anesthesia monitors
•Basic anesthesia monitors
•Hospitals and Others
•North America (U.S and Canada and rest of North America)
•Europe (Germany, France, Italy and Rest of Europe)
•Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
•LAMEA (Brazil, Turkey, Saudi Arabia, South Africa and Rest of LAMEA)
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