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Depth of Anesthesia Monitoring Market | Ongoing Trends and Recent Developments | Major Key Players like Medtronic Public Limited Company (Ireland), GE Healthcare (US), Mennen Medical Ltd. (Israel)

09-18-2019 08:24 AM CET | Health & Medicine

Press release from: MarketsandMarkets

Depth of Anesthesia Monitoring Market

Depth of Anesthesia Monitoring Market

The growing patient pool in hospitals and the increasing number of surgeries are the major factors that are driving the growth of this market. However, the high installation and maintenance costs of depth of anesthesia monitoring devices are expected to restrain the growth of this market in the coming years.

What the Market Looks Like?

Predicted to grow at a CAGR of 3.2% during the forecast period, the global Depth of Anesthesia Monitoring Market was valued at USD 141 million and projected to reach USD 170 million by 2024. Hospitals are the largest end-users of depth of anesthesia monitoring products in the US

Based on product type, the US depth of anesthesia monitoring market is segmented into devices and consumables. In 2018, the consumable segment accounted for the largest share of the market owing to the need for repeat purchase of consumables and the high adoption of single-use sensors. On the other hand, the average life span of depth of anesthesia monitoring devices is around 10 years, and these devices can be provided at no cost if a long-term contract is signed for the purchase of consumables.

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On the basis of device type, the US depth of anesthesia monitoring market is segmented into modules, bundled devices, and standalone devices. The modules segment accounted for the largest share of this market in 2018 majorly due to their widespread use in different clinical settings as they can be integrated into different DOA devices.

The growing patient pool in hospitals and the increasing number of surgeries are the major factors that are expected to drive the demand for depth of anesthesia monitoring products in hospitals in the US in the coming years. The adoption of depth of anesthesia monitoring devices is higher among hospitals as compared to smaller clinical settings due to their high installation and maintenance costs.

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Recent Developments in Depth of Anesthesia Monitoring Market:

• In 2018, Masimo Corporation (US) introduced the RD SedLine EEG sensor for use with Masimo SedLine Brain Function Monitoring.

• In 2017, Shenzhen Mindray Bio-Medical Electronics received FDA approval for its Passport Series Patient Monitors (Passport 12m, Passport 17m).

• In 2016, Masimo and Philips entered into a multi-year partnership for the joint marketing and sales of Masimo’s technologies in North America and certain markets in Asia and Europe.

• In 2015, Medtronic plc acquired Covidien plc, an Ireland-based global manufacturer of medical devices and supplies.

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Leading Depth of Anesthesia Monitoring Market players and strategies adopted:

The prominent players operating in this market are Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Medtronic Public Limited Company (Ireland), GE Healthcare (US), Mennen Medical Ltd. (Israel), Masimo Corporation (US), and Philips Healthcare (Netherlands).

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