The anesthesia monitoring devices market is expected
to reach USD 1.9 billion by 2024, according to a new report by Grand View
Research, Inc. The growing geriatric population base and the spiraling number
of surgeries are anticipated to boost the market growth. Geriatric patients are
the target population for this industry as they are highly prone to various
chronic disorders and are at a higher risk of developing complications.
The rising awareness amongst the physicians
about the various factors that affect patient outcomes, such as the choice of
anesthetic drug, the appropriate route of administration, and the right dose of
the anesthetic agent, as well as the monitoring of the depth of anesthesia is
likely to accelerate the growth of the market during the forecast period.
Technological advancements in terms of
accuracy, portability, and affordability have resulted in the increased usage
of these monitoring devices. For instance, the introduction of the new
generation, microprocessor-based intelligent anesthesia systems with integrated
monitors enables monitoring of various parameters along with the
precisely-controlled administration of the anesthetic agent.
There are many operating procedures in hospitals that require the
patient to be administered anesthesia, which in turn require reliable and
accurate monitors to maintain patient safety. Anesthesia monitoring devices
mainly oversee the delivery of substances, such as gases, fluids and drugs to
the patient; or they can measure and display the patient’s psychological state.
The parameters that must be taken care of during all anesthetics are the
patient’s oxygenation, circulation, ventilation and temperature.
According to the ASPS
(American Society of Plastic Surgeons), 2018 saw an overall increase in the
number of cosmetic procedures as compared to 2017, rising by 2% to 17.7
million. Of this, the cosmetic surgical procedures also saw a marginal increase
of 1% in 2018 over 2017, rising to 1.8 million, while there were 5.8 million
reconstructive procedures. This shows that plastic surgeries still have
importance in the US, which translates to good demand for anesthesia monitoring
devices.
An article by Healthgrades states that the most common surgeries in
the U.S. are for cataract, C-section delivery and joint replacement (more than
1 million), with other surgeries such as circumcision, broken bone repair,
angioplasty, stent procedure, hysterectomy, gallbladder removal and heart
bypass surgery also seeing a sizeable number of appointments. Such procedures require
high safety awareness among the doctors, which has increased the scope of
anesthesia monitoring devices.
For full research report on Anesthesia
Monitoring Devices Market visit here: https://www.grandviewresearch.com/industry-analysis/anesthesia-monitoring-devices-market
Further key
findings from the study suggest:
- Amongst the product type segments, the
advanced anesthesia monitors segment held a lucrative share of over 60.0%
in 2015 owing to its durability, reliability, and accuracy. Moreover,
these devices monitor various significant parameters such as oxygen
saturation level, carbon dioxide level, heart rate, and blood pressure.
- The hospitals in the end-use segment exhibited
remunerative growth in 2015; this can be attributed to the presence of
advanced diagnostic and therapeutic medical technologies that enables
both, faster and accurate diagnosis. Moreover, the availability of these
advanced systems coupled with the presence of skilled personnel
contributes towards profitable growth of this segment.
- North America dominated the overall market
with a revenue share of over 35.0% in 2015 owing to the presence of
well-developed health care settings and the presence of a favorable
reimbursement network, government funding, and increasing health awareness
levels amongst the people.
- However, Asia Pacific is anticipated to be the
fastest growing region with a CAGR of about 11.0% over the forecast
period. The economic developments and the advancing healthcare system with
the aid of supportive government initiatives are collectively anticipated
to further assist the growth in this region.
- Some key players operating in the anesthesia
monitoring devices market include Masimo Corporation, Infinium Medical,
Inc., Medtronic plc, GE Healthcare, Nihon Kohden Corporation, Philips
Healthcare, Mindray Medical International Ltd., Drägerwerk AG &
Co. KGaA, and Schiller AG. New product development, mergers, and
collaborations are some key initiatives taken to sustain themselves in the
competition.
- For instance, Masimo Corporation incorporated
Oxygen Reverse Index (ORI) which measures the oxygen levels and provides
real-time information with regard to the patient’s oxygen reserve in
synchronization with the partial pressure of oxygen to prevent hyperoxia
conditions (oxygen levels above normal) in patients that are receiving
auxiliary oxygen supply whilst undergoing surgery.
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Grand
View Research has segmented anesthesia monitoring devices market on the basis
of product type, end-use, and region.
Global
Anesthesia Monitoring Devices Market By Product Revenue, (USD Million) 2013 -
2024
- Advanced Anesthesia
Monitors
- Anesthesia Gas
Monitors
- Monitors Measuring
Depth of Anesthesia
- Standalone
Capnography Monitors
- Others
- Basic Anesthesia
Monitors
- Integrated
Anesthesia Monitors
Global
Anesthesia Monitoring Devices Market By End-Use Revenue, (USD Million) 2013 -
2024
- Hospitals
- Ambulatory Settings
- Others
Anesthesia
Monitoring Devices Market By Region Revenue, (USD Million) 2013 - 2024
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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