The Global Anesthesia Device Market size is expected to reach $21.4 billion by 2027, rising at a market growth of 8.0% CAGR during the forecast period.
Anesthesia is a medical procedure used for controlling pain during surgery. This procedure is conducted with the help of anesthesia devices through pharmaceutical named anesthetics which lead to loss of sensation that includes paralysis, amnesia, and analgesia. These devices are used while conducting various surgical procedures like ophthalmology, cardiology, dental & neurology for sedation for managing pain and controlling blood pressure, blood flow, heart rate & rhythm, and breathing.
The needs for anesthesia monitoring devices depend on the surgery going on in the operation room. An anesthesia device must include continuous assessment through measuring ventilation, circulation, temperature & oxygenation of patients. There is a need for a high level of monitoring till the time patient completely recovers from the anesthesia. Due to the spread of various diseases, surgical procedures are rapidly increasing all over the globe.
The outbreak of the COVID-19 pandemic has drastically affected the economy of the world. The pandemic situation has resulted in the reduction of hospital activities. Most of the healthcare centers cancelled their scheduled & elective surgeries due to the rising number of COVID-19 cases. As per the report of the British Journal of Surgery, around 585,000 elective surgeries were postponed and a large number of elective surgeries were cancelled across the world during the initial period of the COVID-19 situation.
The pandemic has led to disruption in chronic diseases management & patient monitoring. Many of the patients avoided visiting hospitals & surgeries were delayed. Additionally, the supply chains of final products and raw material anesthesia devices were disrupted due to restrictions over trade and the imposition of lockdown.
The number of aged people is continuously increasing across the world. Certain issues are associated with the aging of the musculoskeletal system which may result in changes in bones and soft tissues. The risk of fractures due to alteration in bone-like osteoporosis & osteomalacia and various other chronic diseases is more likely to happen in old age people. Osteoarthritis is one of the common musculoskeletal diseases found in the elder population.
In addition, hearing loss, chronic obstructive pulmonary disease, diabetes, dementia, cataracts & refractive errors, and many other diseases are commonly found in most old-aged persons. Also, aged people have more chances of complex health conditions which may contribute to serious internal injuries inside and even lead to death.
The rising advancement in technology, rapid urbanization, increased prevelance of certain serious health issues such as cardiovascular diseases, certain type of cancers, etc. is increasing the demand for better facilities in healthcare industry. Increasing investment in the healthcare sector by various private and government groups has resulted in the rising adoption of technologically advanced devices by various health care centers which not only eases their work but provides convenience to patients as well as the patients’ treatment would also surge the need for such medical products.
General anesthesia has a number of side effects. The device used to keep airways open may cause sore throat, additionally; the airways device can also cause drowsiness, vision problems, dizziness, damage to teeth and various other issues. Even, general anesthesia also involves the risk of serious complications such as brain damage, heart attack, and stroke. This risk depends on various factors such as patients’ age, allergies, sex, present medical condition and the recent use of alcohol, tobacco and drugs.
Based on End User, the market is segmented into Hospital, Clinics, and Ambulatory Service Centers. The hospital segment led the anesthesia device market with the highest revenue in 2020. This is because of the presence of technologically advanced devices & instruments to serve the large population base with maximum comfort to patients.
Based on Product, the market is segmented into Anesthesia Delivery Machine, Anesthesia Monitors, Anesthesia Information Management Systems (AIMS), and Anesthesia Disposables & Accessories. Further, based on Anesthesia Disposables & Accessories type, the market is segmented into Anesthesia Masks, Anesthesia Circuits, Laryngoscopes, HME, and Others. The Anesthesia monitors segment garnered a significant revenue share in the anesthesia device market in 2020.
Anesthesia monitors track and show the transport of anesthetic chemicals to the patient, such as gases, medications, and fluids. Throughout surgery, these are utilized to monitor the patient's health and response to the anesthetic indication. The growth of this segment is expected to surge because to the integration of multiple features like heart rate, carbon dioxide level, oxygen saturation level, and blood pressure, as well as decision support systems and data analysis to help physicians gain better insights into their patients.
Based on Application, the market is segmented into Orthopedics, Dental, Cardiology, Urology, Ophthalmology, and Others. In 2020, the orthopedics segment acquired the highest revenue share in the anesthesia device market. The increased number of orthopedic disorders cases, rising awareness regarding orthopedic surgeries, constant innovations, and increasing bone injury cases due to accidents are responsible for the increasing use of anesthesia devices in this region.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 13.2 Billion |
| Market size forecast in 2027 | USD 21.4 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 8% from 2021 to 2027 |
| Number of Pages | 302 |
| Number of Tables | 504 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, Application, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, the Europe region procured a significant revenue share in the anesthesia device market. The high demand for anesthesia devices in the region is because of the well-developed healthcare industry in the region. Also, the number of dental practices registered on HMRC in the region was about twelve thousand which would have required the anesthesia devices.
Free Valuable Insights: Global Anesthesia Devices Market size to reach USD 21.4 Billion by 2027
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; 3M Company is the major forerunner in the Anesthesia Devices Market. Companies such as Becton, Dickinson and Company, Koninklijke Philips N.V., Smith & Nephew PLC are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ambu A/S, General Electric (GE) Co., Becton, Dickinson and Company, Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Smith & Nephew PLC, SunMed, LLC, 3M Company, Teleflex, Inc., and B. Braun Melsungen AG.
By End User
By Product
By Application
By Geography
The anesthesia device market size is projected to reach USD 21.4 billion by 2027.
Increasing Aged Population are driving the market in coming years, however, side effects of anesthesia limited the growth of the market.
Ambu A/S, General Electric (GE) Co., Becton, Dickinson and Company, Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Smith & Nephew PLC, SunMed, LLC, 3M Company, Teleflex, Inc., and B. Braun Melsungen AG.
The Clinics market segment has high growth rate of 7.5% during (2021 - 2027).
The North America market dominated the Global Anesthesia Devices Market by Region 2020, and would continue to be a dominant market till 2027.
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