Advance Anesthesia Monitoring Devices Market Highlights
The Advance Anesthesia Monitoring Devices Market research report expects the industry to reach USD 1.3 billion by 2032 at 10.9% CAGR during the forecast period 2023-2032.
Anesthesia is a medical treatment that prevents the patient from feeling pain while performing surgeries. Since the introduction of anesthesia in the market, many of the surgical procedures have become easy to operate. The introduction of new technology to monitor the patient’s body while administering anesthesia and development of new devices have made anesthesia monitoring more comfortable and safer. Increasing number of surgeries and continuous development in the anesthesia devices have boosted the growth of the anesthesia monitoring device market. On the other hand, higher cost of devices may hinder the growth of the market over the forecast period.
The increasing prevalence of chronic diseases and the growing geriatric population are the main drivers of the expansion of the market for advanced anesthesia monitoring devices. The World Health Organization’s July 2021 update states that cardiovascular illnesses are the main cause of mortality worldwide. Anesthesia monitoring devices are used to monitor patients’ vital signs during surgery and ensure that they are safe and comfortable throughout the procedure.
Regional Analysis
On the regional basis, the global advanced anaesthesia monitoring devices market is segmented into America, Europe, Asia Pacific, and the Middle East & Africa. America holds the highest share in the global advanced anaesthesia monitoring devices market. According to the American Society of Anaesthesiologists, in the year 2014 it was estimated that approximately 30 million of aesthetics being administered every year. Europe accounts for the second largest market for anesthesia monitoring devices. Various factors such as increasing number of surgeries and increasing demand for the better monitoring devices are t driving the growth of the market. Increasing surgeries in a various specialty such as neurology, orthopedic, and aesthetic plastic surgeries in Europe is the primary reason for the development of the market.
Asia Pacific is the fastest growing market in the global advanced anesthesia monitoring devices market due to increasing number of geriatric population and rapid development in the healthcare sector. Economic development and increasing orthopedic surgeries in Asia Pacific region have boosted the growth of the advanced anesthesia monitoring devices market. Larger population base in this region has attracted several the manufacturer, which, in turn, develop the market in Asia Pacific region.
Segmentation
The global advanced anesthesia monitoring devices market is segmented based on types of the products and end users. On the basis of the type of products, the market is segmented into basic anesthesia monitor, advanced anesthesia monitors, integrated anesthesia workstations. Advanced anesthesia monitors are sub-segmented into gas monitors, stand-alone capnography monitors, monitors to measure the depth of anesthesia, and MRI compatible anesthesia monitors. And based on end users, it is segmented into hospitals, clinics, ambulatory services, and others.
Advance Anesthesia Monitoring Devices Market Players
The top key players highlighted in the advanced anaesthesia monitoring devices market report are NIHON KOHDEN CORPORATION (China), General Electric Company (U.S.), Masimo (U.S.), INFINIUMMEDICAL (U.S.), Medtronic (U.S.), Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China), Sedana Medical AB (Sweden), Drägerwerk AG & Co. KGaA. (Germany), Smiths Medical (U.K.), OSI Systems (U.S.), Maquet Holding B.V. & Co. KG. (Germany), Teleflex Incorporated (U.S.), ResMed (U.S.), Getinge AB (Sweden), Fisher & Paykel Healthcare Limited (New Zealand), Phillips Plastics Corporation. (The Netherland), Intersurgical Ltd (U.K.).
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