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Anesthesia Machines Market Innovations and Trends 2024
Anesthesia Machines Market Innovations
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According to The Business Research Company's, The anesthesia machines market size has grown rapidly in recent years. It will grow from $20.94 billion in 2023 to $23.24 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to growing surgical procedures, focus on patient safety, rise in chronic diseases, government regulations and standards, hospital infrastructure development.
The anesthesia machines market size is expected to see rapid growth in the next few years. It will grow to $34.2 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to demand for portable and compact systems, focus on eco-friendly and sustainable solutions, telemedicine and remote monitoring integration, advancements in anesthetic drug delivery systems, global market expansion. Major trends in the forecast period include regulatory adaptation to technology changes, integration of digital health technologies, technological advancements in anesthesia systems, integration of artificial intelligence, sustainability initiatives.
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Market Drivers and Trends:
The increasing number of surgeries is a major driver for the anesthesia machines market. This is because anesthetic machines are one of the important pieces of equipment used for surgeries to ensure that patients do not feel pain during surgeries. With the increasing number of chronic illnesses like cataracts, nervous disorders, muscle repair, oral problems, and abdominal issues that require surgeries, the use of anesthesia machines has also increased. According to an article published by the British Journal of Anaesthesia, an annual average of 7.9 million procedures (inclusive category), 5.1 million procedures (intermediate category), and 1.5 million procedures (restrictive category) were performed in hospitals in the UK.
The use of computer-controlled anesthesia machines is an emerging trend in the anesthesia machines market. Computer-controlled anesthesia machines help in reducing the patient's pain during surgical procedures and also provide features such as alarms to notify in case of an emergency or backup required to switch the defected pipeline or cylinder. For example, the Dräger Primus anesthesia workstation provides advanced display and monitoring settings and an automatic checkup option, thereby reducing human time and efforts. Similarly, GE Healthcare's Aisys CS² station manages the oxygen flow, records the consummation data, and avoids wastage of fresh gas.
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Major Key Players of the Market:
General Electric Company, Medtronic plc, Medline Industries Inc., Koninklijke Philips N.V., Datex-Ohmeda Inc., Covidien plc, B. Braun Holding GmbH & Co. KG, Mindray Medical International Limited, Dragerwerk Ag & Co. KGAA, Teleflex Incorporated, Getinge Group, Smiths Medical Inc., Masimo Corporation, Fisher & Paykel Healthcare Corporation Limited, Spacelabs Healthcare LLC, Oricare Inc., OSI Systems Inc., Shenzhen Landwind Medical Co. Ltd., Infinium Medical Inc., Midmark Corporation, Ambu AS, Penlon Limited, Aeonmed Co.Ltd., Beijing Siriusmed Medical Device Co.Ltd., Heyer Medical AG, Dameca A/S, Carefusion Corporation, DRE Inc., Shenzhen Comen Medical Instruments Co. Ltd., HERSILL S.L., Allied Medical Limited, BPL Medical Technologies Pvt. Ltd.
Anesthesia Machines Market 2024 Key Insights:
• The anesthesia machines market size is expected to see rapid growth in the next few years. It will grow to $34.2 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%.
• Increasing Number Of Surgeries In Anesthesia Machines Market
• Automation And Advanced Monitoring With Computer-Controlled Anesthesia Machines
• North America was the largest region in the anesthesia machines market in 2023
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