Anesthesia Devices Market Size 2024-2028

The anesthesia devices market size is forecast to increase by USD 3.72 billion, at a CAGR of 10.87% between 2023 and 2028. The growth of the market is fueled by several key factors. Firstly, there is a notable increase in the number of surgeries that require general devices, driven by the growing prevalence of complex medical conditions and the need for invasive procedures. Additionally, the rise in chronic diseases and associated risk factors is contributing to the demand for such services. Furthermore, advancements in such technology, including improved monitoring and drug delivery systems, are enhancing patient safety and outcomes. These trends are driving the adoption of innovative solutions, creating growth opportunities in the market. 

What will be the Size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape

The market is crucial for ensuring safe and effective surgical procedures. These devices play a vital role in pain control, breathing control, blood pressure control, blood flow control, and heart rate & rhythm control during medical procedures. They help maintain the patient's medical state, inducing analgesia, paralysis, amnesia, and unconsciousness as needed. The market is segmented by product type to cater to various specialties such as orthopedics, cardiology, and neurology. Advancements in anesthesia monitoring and new product development are driving market growth, along with the increasing prevalence of chronic diseases and the adoption of upgraded technology. Training assistance and the acceptance of modern technologies are also key factors influencing market dynamics. Anesthesia devices must be carefully designed to minimize adverse reactions and ensure the safe interaction of chemically formulated medicines with the human body. Special attention is given to the site of injection and the integration of technologies like cardiopulmonary bypass integration and transesophageal echocardiography (TEE) monitoring for improved patient outcomes. 

Key Market Driver

The increasing number of surgeries requiring general anesthesia is notably driving market growth. Doctors administer general anesthesia to induce unconsciousness during surgery and manage postoperative pain. This type is commonly used for major surgeries like knee and hip replacements, heart surgery, cancer procedures, brain surgery, lung surgery, and major artery surgery. The acceptance of modern technologies has led to the development of upgraded technology that enhances the safety and efficacy of such administration.

Moreover, the rising prevalence of chronic diseases and illnesses is leading to an increase in the number of surgeries. For instance, the growing number of people with chronic conditions such as cancer and heart disease is driving the need for surgeries like hysterectomy for ovarian cancer patients. Thus, such factors are expected to fuel the growth of the market in the coming years.

Significant Market Trends

Increasing the marketing strategies of companies is a major trend in the market. Leading companies in the market are increasingly adopting innovative marketing strategies to increase their market share. Companies like Ambu have also signed several agreements with Group Purchasing Organizations (GPOs), which provide them easy access to hospitals and opportunities to increase sales of their anesthesia equipment. This is because a large part of hospital procurement occurs through this channel.

Additionally, market players are also increasingly focused on conducting clinical and health economic studies to document the cost savings and benefits of their anesthesia devices. This information is used to influence the decisions of end users to increase sales of their products. Sellers also expand their product range to increase their market share, which increases the cross-selling of their products. Such marketing strategies are expected to drive the adoption of anesthetics during the forecast period.

Major Market Challenge

Intense competition among companies is a major challenge impeding market growth. The market is competitive due to several regional and global companies. Leading suppliers offer a wide range of products, possess the necessary financial, technical, and marketing resources, have wide geographical coverage and strong distribution channels, and make significant investments in R&D. On the contrary, small and medium-sized suppliers have limited financial and technical strength along with limited product offerings. Therefore, these suppliers cannot compete with established companies regarding quality, reliability, and R&D. 

Moreover, major market players face strong competition from regional companies offering similar products at lower prices. End users, such as ambulatory surgery center purchasers, increasingly demand low-cost anesthesia equipment with the latest advanced features. Therefore, companies are increasingly focusing on the R&D of such devices to strengthen their market position. The competition in the market is expected to intensify during the forecast period due to the launch of new products and the increasing focus of suppliers on expanding their presence in international markets. Hence, these factors will hinder the global market growth during the forecast period. 

Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

Market Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Becton Dickinson and Co.- The company?offers a range of medication delivery solutions, medication management solutions, diabetes care, and pharmaceutical systems. 

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Ambu AS
• B.Braun SE
• Beijing Aeonmed Co. Ltd.
• BPL Ltd.
• Dragerwerk AG and Co. KGaA
• Fisher and Paykel Healthcare Corp. Ltd.
• General Electric Co.
• Getinge AB
• ICU Medical Inc.
• Intersurgical Ltd.
• Koninklijke Philips N.V.
• Life Support Systems
• Medline Industries LP
• Medtech Devices
• Medtronic Plc
• OSI Systems Inc.
• Shenzhen Mindray BioMedical Electronics Co. Ltd
• Teleflex Inc.
• Vyaire Medical Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation 

The market share growth by the anesthesia delivery machine segment will be significant during the forecast period. Anesthesia delivery machines are used to administer an anesthetic agent to a patient, continuously or intermittently, and maintain ventilation. Anesthesia delivery devices include mobile delivery machines and standalone anesthesia delivery machines. 

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The anesthesia delivery machine segment was valued at USD 1.50 billion in 2018. The standalone anesthesia delivery machine is an integrated system solution designed for ceiling or wall mounting. Healthcare facilities with piped gases prefer wall-mounted options because they increase floor space. Wall-mounted anesthesia machines are also easy to move and install between different locations. The ceiling-mounted anesthesia machine with one or more articulated arms avoids cluttering the floor with cables and tubes and can be easily moved to different positions. Due to these advantages, the demand for self-contained anesthesia machines will continue to grow during the forecast period.

Regional Analysis

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Asia is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to Companies is North America. The US and Canada are the largest contributors to the North American market. The region's market is driven by improved healthcare infrastructure, a number of surgeries performed under general anesthesia, and the prevalence of chronic diseases and associated risk factors. Additionally, the increasing number of surgeries, along with an increasing number of hospitals and ambulatory surgery centers (ASCs), are contributing to the growth of the anesthesia equipment market in the region. Therefore, the increase in the number of hospitals will increase the number of surgical procedures performed in these developed countries, which in turn will increase the demand for such equipment in the region during the forecast period. 

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Product Outlook 
  • Anesthesia delivery machines
  • Anesthesia monitors
  • Anesthesia vaporizers
  • Anesthesia disposables

• End-user Outlook 
  • Hospitals
  • Ambulatory service centers
  • Clinics

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
    • Thailand
    • Vietnam
    • Others
  • Rest of World
    • Saudi Arabia
    • South Africa
    • Chile
    • Brazil
    • Argentina
    • Others

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• Anesthesia Monitoring Devices Market Anesthesia Monitoring Devices Market by Type, End-user, and Geography - Forecast and Analysis
• Anesthesia Breathing Circuits Market Anesthesia Breathing Circuits Market by End-user, Product Type, and Geography - Forecast and Analysis
• Inhalation Anesthesia Market Inhalation Anesthesia Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, India - Size and Forecast

Market Analyst Overview

The market plays a crucial role in healthcare, addressing concerns such as life expectancy and systemic disorders. These devices monitor vital signs like heart rhythm and breathing frequency, ensuring patient safety during procedures. With advancements in technology, anesthesia delivery systems now offer intuitive interfaces and workflow efficiency, reducing anxiety and discomfort for both patients and medical staff. However, challenges like high cost and risk of cross infection persist, particularly in developing nations. Despite this, the market continues to grow, driven by demand and supply chain dynamics and a focus on personalized approach and procedural outcomes. Additionally, the market addresses various medical needs, ensuring patient comfort and safety during elective surgical procedures. These devices play a crucial role in monitoring vital signs like heart rhythm, blood pressure, and oxygen saturation, mitigating risks such as hypoxia and over-sedation.

Also, they aid in managing pain and swelling, providing airway management tools and monitoring devices. Compliance with government guidelines and regulations is paramount to prevent complications and ensure patient morbidity and mortality rates remain low. With advancements, these devices offer tailored solutions for cardiology segment, addressing chronic cardiovascular conditions and facilitating interventional procedures like cardiac surgeries and device implantation. Further, the market offers critical solutions for pain control, breathing control, and blood pressure control during medical procedures. These devices regulate blood flow and ensure heart rate & rhythm control to maintain stable medical states. Advanced technologies provide effective analgesia, mitigate paralysis, and induce amnesia when necessary. Additionally, product segmentation allows anesthesiologists to tailor treatment plans to address specific physical ailments, ensuring optimal patient care and outcomes.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market report during the forecast period
• Detailed information of market analysis and report on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the size of the market and its contribution in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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