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Anesthesia Monitoring Devices Market Size, Growth & Trends 2024-2033
Anesthesia Monitoring Devices Market Size
According to The Business Research Company's, The anesthesia monitoring devices market size has declined in recent years. It will grow from $3.93 billion in 2023 to $3.78 billion in 2024 at a compound annual growth rate (CAGR) of -3.7%. The decline in the historic period can be attributed to high cost of anesthesia monitoring devices, high cost of maintenance, covid Impact.
The anesthesia monitoring devices market size is expected to see marginal growth in the next few years. It will grow to $3.87 billion in 2028 at a compound annual growth rate (CAGR) of 0.6%. The growth in the forecast period can be attributed to growing healthcare expenditure, remote monitoring and telemedicine, rise in minimally invasive surgery, rise in economic growth. Major trends in the forecast period include integration with electronic health records (EHR), artificial intelligence (AI) and machine learning, mobile apps and wearables, advanced sensors and connectivity, non-invasive monitoring technologies.
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Market Drivers and Trends:
The increase in the number of surgeries globally is expected to propel the growth of the anesthesia monitoring devices market. The number of surgeries for hip fracture repair, neurosurgical procedures, cesarean section, and other surgeries is increasing, and therefore, in turn there is a rising demand for anesthesia monitoring devices. For instance, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, in 2021, approximately 235 million major surgical procedures are undertaken worldwide every year. Most of the surgical procedures are cesarean section, neurosurgical procedures, intra-abdominal procedures, and orthopedic procedures. Also, there is an increase in the number of patients undergoing surgeries at ambulatory surgery centers. Therefore, the increasing number of surgeries will drive the anesthesia monitoring devices market.
Technological advancements are a key trend gaining popularity in the anesthesia monitoring devices market. Many companies are launching new, technologically advanced products in the anesthesia monitoring devices industry. For example, in April 2022, SCHILLER, a Switzerland-based launched the MRI-compatible patient monitor MAGLIFE RT-1 The MAGLIFE RT-1 performs patient monitoring in an MRI environment including all necessary vital parameters during anesthesia. The MAGLIFE RT-1 allows for close monitoring during the examination and can be fully controlled from outside the Faraday cage through the MAGSCREEN RT-1. The system is designed for all patients: adults, children and neonates.
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Major Key Players of the Market:
Baxter International Inc.; Cardinal Health Inc.; Draegerwerk AG & Co. KGaA; GE Healthcare; Heyer Medical AG; Intersurgical Limited; Medtronic Inc.; Mindray Medical International Limited; Nihon Kohden Corporation; Philips Healthcare; Smiths Medical Inc.; Infinium Medical Inc.; Fukuda Denshi Co. Ltd.; Becton Dickinson and Company; Ambu A/S; Teleflex Incorporated; Ventlab; ACOMA Medical Industry Co.; BPL Medical Technologies; Dixion GmbH; Löwenstein Medical GmbH & Co. KG; Medasense Biometrics Ltd.; Veterinary Anesthesia Systems Inc.; CNSystems Medizintechnik GmbH; Allied Medical Limited; Criticare Technologies Inc.; Shenzhen Mindray Bio-Medical Electronics Co. Ltd.; Masimo Corporation; Spacelabs Healthcare Inc.; Mennen Medical Ltd.; Koninklijke Philips N.V.; BrainU Co. Ltd.; OSI Systems Inc.; Penlon Limited; Natus Medical Incorporated; Schiller AG; Edwards Lifesciences Corporation; Bionet Co. Ltd.; DRE Medical Inc.; Digicare Biomedical Technology Inc.
Anesthesia Monitoring Devices Market 2024 Key Insights:
• The anesthesia monitoring devices market size will grow to $3.87 billion in 2028 at a compound annual growth rate (CAGR) of 0.6%.
• Increasing Number Of Surgeries Globally Propels The Growth Of The Anesthesia Monitoring Devices Market
• Technological Advancements In Anesthesia Monitoring Devices
• North America was the largest region in the anesthesia monitoring devices market in 2023
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