Anesthesia Devices Market Size To Reach $15.46 Billion, Globally, By 2023 | Anesthesia Monitors, Cardiology, Neurology, Dental

The use of anesthesia devices is expected to increase in the near future, owing to the rise in number of surgical procedures across geographies. Technological advancements mark a significant trend, which is expected to propel the growth of the anesthesia devices market during the forecast period.

The global anesthesia devices market was valued at $9,563 million in 2016, and is projected to reach $15,463 million by 2023, registering a CAGR of 7.1% from 2017 to 2023. The anesthesia delivery machine segment dominated the global market, accounting for a share of nearly half of the total market in 2016.

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COVID-19 scenario-

1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.

2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.

3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.

Anesthesia is a medical procedure that is used to control pain during the course of a surgery. It is provided through pharmaceutical drugs called anesthetics with the help of anesthesia devices. Anesthesia devices are used during various surgical procedures, such as ophthalmology, dental, cardiology, and neurology for sedation to control breathing, blood pressure, blood flow, heart rate & rhythm, and manage pain.

The anesthesia devices market is driven by increase in number of surgical procedures globally, advancements in technology, and rise in geriatric population, which are prone to surgical procedures. However, the high cost of the anesthesia devices poses as a major hindrance to the growth of the market. Emerging nations, such as LAMEA and Asia-Pacific, are expected to serve major opportunities to the manufacturers of anesthesia devices.

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The anesthesia delivery machine segment accounted for the major share in the anesthesia devices market, and is expected to continue its dominance throughout the forecast period. This segment is expected to grow at a CAGR of 6.3% from 2017 to 2023, owing to high adoption of these devices during the surgical procedures.

In 2016, North America accounted for a share of nearly two-fifths of the global market, owing to the increase in number of surgical procedures and high adoption of technologically advanced products. Europe holds the second position in the global anesthesia devices market.

The Major Key Players Are:

GE Healthcare, Becton Dickinson and Company, Smiths Group plc., Ambu S/A, Teleflex Incorporated, Ventlab, Drgerwerk AG & Co. KGaA, SunMed, 3M Company, and Airsep Corporation.

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Key Findings of the Anesthesia Devices Market:

• The anesthesia disposables & accessories segment is projected to grow at CAGR of 8.0% during the forecast period.
• North America accounted for a dominant position in the regional landscape, in 2016, occupying two-fifths of the total market.
• In 2016, the anesthesia delivery machines segment accounted for a share of nearly half of the total anesthesia devices market.
• The ambulatory service centers segment accounted for around two-sevenths share of the global anesthesia devices market, by end user, in 2016.

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