Anesthesia Devices Market

Global Anesthesia Devices Marketis valued at USD 18.04 Billion in 2022 and it is expected to reach USD 31.92 Billion by 2029 with a CAGR of 8.49% over the forecast period.

Global Anesthesia Devices Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2028: The market will expand due to the increasing number of surgical procedures, growing demand for minimally invasive surgeries, and rising prevalence of chronic diseases.

Scope of Global Anesthesia Devices Market Report-

Anesthesia devices are medical equipment used to administer anesthesia to patients during surgical procedures. These devices are essential to keep patients comfortable and safe while under anesthesia. Anesthesia has been used in medical procedures for over a century. The first recorded use of anesthesia was in 1846 when ether was used to sedate a patient during a dental procedure. In the following years, various forms of anesthesia were developed, including nitrous oxide, chloroform, and ether. Today, anesthesia is administered using advanced devices that provide precise control over the amount and type of anesthesia given.

Anesthesia devices are used to administer various types of anesthesia, including general anesthesia, regional anesthesia, and local anesthesia. General anesthesia is used to induce a state of unconsciousness, while regional and local anesthesia are used to numb specific parts of the body. Anesthesia devices are primarily used in hospitals and clinics, including surgical centers, emergency rooms, and intensive care units. Anesthesiologists, nurses, and other healthcare professionals are the primary end-users of these devices.

COVID-19 Impact on the Anesthesia Devices market:

The COVID-19 pandemic has had a significant impact on the anesthesia devices market. As hospitals and healthcare facilities have become overwhelmed with COVID-19 patients, elective surgeries and procedures have been postponed or canceled. This has led to a decrease in demand for anesthesia devices in some regions.

However, the need for anesthesia devices for critical care patients has increased during the pandemic. Patients with severe COVID-19 symptoms require intensive care, including intubation and mechanical ventilation, which require the use of anesthesia devices. This has led to an increased demand for these devices in some regions.

Key Players of Global Anesthesia Devices Market Report-

Some major key players for the global Anesthesia Devices market report cover prominent players like

• Drägerwerk AG & Co. KGaA
• General Electric Company
• Koninklijke Philips N.V.
• Mindray Medical International Limited
• Medtronic plc
• Teleflex Incorporated
• Fisher & Paykel Healthcare Limited
• Masimo Corporation
• Smiths Medical
• Intersurgical Ltd.
• B. Braun Melsungen AG
• GE Healthcare
• Cardinal Health Inc.
• Smiths Group plc
• Ambu A/S
• Intersurgical Ltd.
• Penlon Ltd.
• Armstrong Medical Industries Inc.
• Nihon Kohden Corporation
• Shenzhen Mindray Bio-Medical Electronics Co.Ltd.
• Spacelabs Healthcare Inc.
• Airways Corporation
• Vyaire Medical Inc.
• Halyard Health Inc.

Global Anesthesia Devices Market Segmentation: -

By Product Type:

• Anesthesia Machines
  • Standalone Anesthesia Machines
  • Portable Anesthesia Machines
• Anesthesia Monitors
  • Standalone Monitors
  • Integrated Monitors
• Anesthesia Ventilators
  • Intensive care ventilators
  • Portable ventilators
• Anesthesia Disposables
  • Breathing Circuits
  • Face Masks
  • Airway Devices

By Age Group:

• Pediatrics
• Adults
• Geriatrics

By Application:

• Cardiology
• Neurology
• Dental
• Ophthalmology
• Urology
• Orthopedics
• Others

By End-User:

• Hospitals
• Ambulatory surgery centers (ASCs)
• Clinics
• Multispeciality Clinics

By Distribution Channel:

• Direct sales
• E-commerce

By Regional & Country Level:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

Market Revenue Generation Model:

The revenue generated by anesthesia devices is primarily from the sale of equipment, accessories, and consumables. The revenue model is typically a combination of capital equipment sales and recurring revenue from consumables, accessories, and service contracts.

Supply Chain Model: The supply chain for anesthesia devices includes manufacturers, distributors, and end-users. Manufacturers produce the equipment, while distributors sell it to hospitals and clinics. End-users are the hospitals and clinics that purchase and use the equipment.

Value Chain Model: The value chain for anesthesia devices includes research and development, manufacturing, marketing and sales, distribution, and service. Each step in the value chain is critical to ensuring the safe and effective use of anesthesia devices.

Market Drivers:

Increasing Number of Surgical Procedures: The increasing number of surgical procedures, including both elective and emergency surgeries, is expected to drive the demand for anesthesia devices. According to OECD, the number of surgical procedures performed worldwide is increasing, with an average of 17,000 procedures per million population.

Surgical procedures accounted for 69% of all revenue, despite being just 21% of total procedures. According to the American Society of Plastic Surgeons, in 2021, despite the COVID-19 pandemic, there were approximately 365,000 breast augmentation procedures performed in the United States alone. This is a slight decrease from 2020 when there were about 400,000 breast augmentation procedures performed in the US.

Growing Demand for Minimally Invasive Surgeries: The increasing demand for minimally invasive surgeries, which require the use of anesthesia devices, is expected to drive market growth. The World Health Organization (WHO) has also recognized the benefits of minimally invasive surgeries, which can lead to reduced pain, scarring, and recovery time compared to traditional open surgeries.

According to the WHO, minimally invasive surgeries can also reduce the risk of postoperative complications and result in shorter hospital stays. The WHO estimates that approximately 313 million surgical procedures are performed each year worldwide, with about 25% of them being major surgical procedures. The most commonly performed invasive surgeries include procedures such as appendectomies, cholecystectomies, and hernia repairs.

Market Restraints:

Stringent Regulatory Guidelines: The stringent regulatory guidelines for the approval of anesthesia devices by regulatory authorities such as the US FDA and the European Medicines Agency (EMA) could also restrain the market growth. For example, in the United States, the Food and Drug Administration (FDA) is responsible for regulating medical devices.

Anesthesia devices are classified as Class II medical devices, which are subject to a higher level of regulatory oversight than Class I devices, such as tongue depressors or bandages. The FDA requires that Class II devices undergo a premarket review process to ensure their safety and effectiveness before they can be marketed to the public.

Similarly, in the European Union, medical devices are subject to the Medical Devices Regulation (MDR), which went into effect in 2017. The MDR mandates a more rigorous approval process for medical devices and requires manufacturers to demonstrate the safety and effectiveness of their products before they can be marketed.

Shortage of Anesthesiologists: The shortage of anesthesiologists and trained healthcare professionals who can operate anesthesia devices is a key challenge facing the market. According to a report by the WHO, there is a shortage of healthcare professionals in many regions, including anesthesiologists.

According to a report by the Association of American Medical Colleges, the United States could face a shortage of between 21,400 and 55,200 primary care physicians, and between 33,700 and 86,700 non-primary care physicians, including anesthesiologists, by 2033. The report cites several factors contributing to the projected shortage, including an aging population, an aging physician workforce, and the limited capacity of medical schools and graduate medical education programs.

Opportunity Factors:

The global market for anesthesia devices is expected to grow in the coming years, driven by the increasing demand for surgical procedures and the rising prevalence of chronic diseases. Other opportunity factors include the introduction of new technologies, the growing focus on patient safety, and the increasing adoption of minimally invasive surgical procedures.

Market Trend:

The anesthesia device market is witnessing several trends, including the development of portable and lightweight devices, the integration of advanced technologies, and the increasing use of disposable anesthesia equipment.

Product and technology development:

Product and technology development in anesthesia devices are focused on improving the accuracy and precision of anesthesia administration, reducing the risk of adverse events, and increasing patient comfort. Advances in technology, such as the use of artificial intelligence and machine learning, are also expected to drive innovation in this market.

Customer trend:

Customers in the anesthesia device market are increasingly focused on patient safety, ease of use, and cost-effectiveness. End-users are also seeking equipment that can provide more precise control over anesthesia administration, reduce the risk of adverse events, and improve patient outcomes.

In summary, anesthesia devices are an essential component of modern healthcare, providing safe and effective anesthesia during surgical procedures. As the demand for surgical procedures continues to rise, the market for anesthesia devices is expected to grow, driven by advances in technology and a focus on patient safety and comfort. Manufacturers, distributors, and end-users will play a critical role in ensuring the safe and effective use of these devices.

Market Competition Nature:

The anesthesia devices market is highly competitive, with a large number of global and regional players. The market is dominated by a few key players, including Drägerwerk AG & Co. KGaA, General Electric Company, and Koninklijke Philips N.V.

Past/Future Strategies by Key Market Players:

Some past and future strategies implemented by key market players in the anesthesia devices market include:

Product development: Key market players are investing in research and development to develop new and innovative products that provide more precise control over anesthesia administration and improve patient comfort.

Strategic partnerships: Some market players are forming strategic partnerships and collaborations to expand their product portfolio and geographic presence.

Mergers and acquisitions: Key market players are also engaging in mergers and acquisitions to increase market share and expand their product offerings.

Geographic expansion: Market players are expanding their geographic presence by entering into new markets and regions.

Digitalization: Key market players are also investing in digitalization, such as the use of telemedicine and remote patient monitoring, to improve patient outcomes and reduce healthcare costs.

Geography Analysis:

North America:

North America is a significant market for anesthesia devices, driven by factors such as increasing numbers of surgical procedures, growing demand for minimally invasive surgeries, and the increasing prevalence of chronic diseases.

According to the Centers for Disease Control and Prevention (CDC), chronic diseases are responsible for 7 out of 10 deaths each year in the United States. In addition, approximately 6 in 10 adults in the United States have a chronic disease, and 4 in 10 have two or more chronic diseases. Cancer is one of the most prevalent chronic diseases in North America. According to the American Cancer Society, there were an estimated 1.8 million new cancer cases and 606,520 cancer deaths in the United States in 2020. Many cancer patients require surgery or other procedures as part of their treatment, which drives demand for anesthesia services and devices.

Europe:

The fastest-growing market for anesthesia devices in Europe is expected to be Eastern Europe, due to factors such as increasing investment in healthcare infrastructure and rising demand for medical services in the region. There is significant competition in the European anesthesia devices market, with key players investing in research and development to bring new products to market and expand their product portfolios. For example, in 2020, GE Healthcare launched a new anesthesia system designed to provide personalized anesthesia delivery and patient safety features.

Key Benefits of Global Anesthesia Devices Market Report–

• Global Anesthesia Devices Market report covers in-depth historical and forecast analysis.
• Global Anesthesia Devices Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
• Global Anesthesia Devices Market report helps to identify opportunities in the marketplace.
• Global Anesthesia Devices Market report covers extensive analysis of emerging trends and competitive landscape.