The anesthesia monitoring devices market is projected to grow at a CAGR of 10.2% to reach US$3.392 billion by 2026, from US$1.739 billion in 2019. Anesthesia monitors are required in every treatment that involves giving anesthesia to the patients. There exist several types of anesthesia monitors. The choice of which monitor to use solely depends upon the type of case. It essentially helps in monitoring the delivery of fluids and drugs to the patient and displays their psychological state. The anesthetic monitoring works to ensure:
A major reason for the growth of this market is the rise in the number of people suffering from chronic diseases globally.
According to the World Economic Forum, “One in three adults worldwide has multiple chronic conditions: cardiovascular disease alongside diabetes, depression as well as cancer, or a combination of three, four, or even five or six diseases at the same time. NCDs represent more than half the global burden of disease.” The number of people suffering from chronic diseases is rising with time. According to the World Health Organisation, 41 million people die every year due to chronic diseases (Non-communicable diseases), which account for 71 percent of deaths worldwide. Cardiovascular diseases alone claim 17.9 million lives globally, followed by cancer, which claims 9 million lives annually. This has lead to an increase in the demand for therapeutic and surgery. These procedures are risky and demand continuous monitoring, this would fuel the demand for anesthesia monitoring devices. The increasing awareness among surgeons about the benefits of anesthesia monitoring devices is expected to drive the growth of the market. The surgery requirement in North America is growing at a rapid pace and hence it is the largest anesthesia monitoring device market. The Asia Pacific and European anesthesia markets are furthermore expected to grow due to the instantaneous increase in the size of the population.
Their rapidly aging population is expected to drive the demand for this market in the forecast period.
According to World Health Organisation, “By 2050, the world’s population aged 60 years and older is expected to total 2 billion and there will be almost this many (120 million) living in China alone of the age group 80 years and above, and 434 million people in this age group worldwide.” The number of people aged 60 years and above accounted for 1 billion of the total population in 2019.
Elderly people frequently access health care facilities. As the population of elderly people is soaring, the pressure for surgical treatment is surging continuously. They often require a greater level of care, with higher health care costs. Many companies are within on the strategies to amend anesthesia care in order to reduce complications and improve efficiency.
The various technological development and the increase in health care expenditure are anticipated to fuel the growth of this market.
The introduction of many new monitoring techniques like goal-directed fluid therapy, advanced neurological monitoring, wave line pro touch screen anesthesia monitors, better waning devices is driving the global anesthesia monitor device market. According to the world health organization, “Spending on health is growing faster than the rest of the global economy, accounting for 10% of global gross domestic product (GDP).” The middle-income developing countries are spending relatively higher on health care expenditure as compared to the higher-income countries. The health expenditure is growing annually at an average of 6 percent in the middle-income countries whereas it is growing at an average of 4 percent in the higher income countries. The developing countries are also facing the burden of the rise in the number of surgical procedures. This generated the demand for anesthetic care, thereby, increasing the demand for the anesthesia monitoring device market.
The rising investment in Research and Development, the outbreak of COVID-19, and the increasing competition is also projected to positively impact the sales of the market.
Medical pharmacies are deploying huge amounts for the research and development of new devices. The demand for painless surgeries is also growing. Countries like the US, India, Brazil, Russia, Italy, and France are severely affected in terms of the confirmed cases and reported deaths. Many companies announced delays in the delivery of products. Also, global travel bans were in effect due to COVID. Many had to cancel their scheduled treatments, outside their home countries, due to the same. Due to the outbreak of the novel coronavirus, many surgeries across the world were postponed. Acute surgeries were still undertaken. This led to an increase in the concern about patient health and well-being and demanded advancement in the industry. Gas monitoring and airway pressure monitoring were introduced, and they witnessed a lot of attention all over the world. Also, many key players in the market are implementing various growth strategies to gain a competitive edge over their competitors.
- Oxygenation
- Ventilation
- Circulation
A major reason for the growth of this market is the rise in the number of people suffering from chronic diseases globally.
According to the World Economic Forum, “One in three adults worldwide has multiple chronic conditions: cardiovascular disease alongside diabetes, depression as well as cancer, or a combination of three, four, or even five or six diseases at the same time. NCDs represent more than half the global burden of disease.” The number of people suffering from chronic diseases is rising with time. According to the World Health Organisation, 41 million people die every year due to chronic diseases (Non-communicable diseases), which account for 71 percent of deaths worldwide. Cardiovascular diseases alone claim 17.9 million lives globally, followed by cancer, which claims 9 million lives annually. This has lead to an increase in the demand for therapeutic and surgery. These procedures are risky and demand continuous monitoring, this would fuel the demand for anesthesia monitoring devices. The increasing awareness among surgeons about the benefits of anesthesia monitoring devices is expected to drive the growth of the market. The surgery requirement in North America is growing at a rapid pace and hence it is the largest anesthesia monitoring device market. The Asia Pacific and European anesthesia markets are furthermore expected to grow due to the instantaneous increase in the size of the population.
Their rapidly aging population is expected to drive the demand for this market in the forecast period.
According to World Health Organisation, “By 2050, the world’s population aged 60 years and older is expected to total 2 billion and there will be almost this many (120 million) living in China alone of the age group 80 years and above, and 434 million people in this age group worldwide.” The number of people aged 60 years and above accounted for 1 billion of the total population in 2019.
Elderly people frequently access health care facilities. As the population of elderly people is soaring, the pressure for surgical treatment is surging continuously. They often require a greater level of care, with higher health care costs. Many companies are within on the strategies to amend anesthesia care in order to reduce complications and improve efficiency.
The various technological development and the increase in health care expenditure are anticipated to fuel the growth of this market.
The introduction of many new monitoring techniques like goal-directed fluid therapy, advanced neurological monitoring, wave line pro touch screen anesthesia monitors, better waning devices is driving the global anesthesia monitor device market. According to the world health organization, “Spending on health is growing faster than the rest of the global economy, accounting for 10% of global gross domestic product (GDP).” The middle-income developing countries are spending relatively higher on health care expenditure as compared to the higher-income countries. The health expenditure is growing annually at an average of 6 percent in the middle-income countries whereas it is growing at an average of 4 percent in the higher income countries. The developing countries are also facing the burden of the rise in the number of surgical procedures. This generated the demand for anesthetic care, thereby, increasing the demand for the anesthesia monitoring device market.
The rising investment in Research and Development, the outbreak of COVID-19, and the increasing competition is also projected to positively impact the sales of the market.
Medical pharmacies are deploying huge amounts for the research and development of new devices. The demand for painless surgeries is also growing. Countries like the US, India, Brazil, Russia, Italy, and France are severely affected in terms of the confirmed cases and reported deaths. Many companies announced delays in the delivery of products. Also, global travel bans were in effect due to COVID. Many had to cancel their scheduled treatments, outside their home countries, due to the same. Due to the outbreak of the novel coronavirus, many surgeries across the world were postponed. Acute surgeries were still undertaken. This led to an increase in the concern about patient health and well-being and demanded advancement in the industry. Gas monitoring and airway pressure monitoring were introduced, and they witnessed a lot of attention all over the world. Also, many key players in the market are implementing various growth strategies to gain a competitive edge over their competitors.
Market Segmentation:
By Application
- Standard Anesthesia Monitoring
- Advanced Anesthesia Monitoring
By End-User
- Hospitals and Clinics
- Ambulatory Surgical Centers
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Others
- The Middle East and Africa
- Saudi Arabia
- South Africa
- Others
- Asia Pacific
- Japan
- China
- India
- Taiwan
- Thailand
- Indonesia
- South Korea
- Others
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Anesthesia Monitoring Devices Market Analysis, By Application
6. Anesthesia Monitoring Devices Market Analysis, By End-User
7. Anesthesia Monitoring Devices Market Analysis, by Geography
8. Competitive Environment and Analysis
9. Company Profiles
Companies Mentioned
- Nihon Kohden
- Dragerwerk
- Medtronic
- Heyer Medical
- Infinium Medical
- Absolute Medical Inc.
- Masimo
- Mindray Medical International
- Fukuda Denshi
- CN Systems
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 119 |
| Published | July 2021 |
| Forecast Period | 2019 - 2026 |
| Estimated Market Value ( USD | $ 1.74 billion |
| Forecasted Market Value ( USD | $ 3.39 billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
