Anesthesia Devices Market Expected to reach $28,381.86 million by 2030

According to a new report published by Allied Market Research, titled, “Global Anesthesia Devices Market by product, application, end user and region: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global anesthesia devices market size was valued at $13,560.00 million in 2020, and is projected to reach $28,381.86 million by 2030, registering a CAGR of 8.10% from 2021 to 2030.

Anesthesia is a medical procedure that is used to control pain during the course of a surgery. It is provided through pharmaceutical drugs called anesthetics with the help of anesthesia devices. Anesthesia devices are used during various surgical procedures, such as ophthalmology, dental, cardiology, and neurology for sedation to control breathing, blood pressure, blood flow, heart rate & rhythm, and manage pain. The requirement of anesthesia monitoring devices basically depends on the types of cases performed in the operating room. The parameters to be considered for anesthesia monitoring devices include continuous assessment by measurement of patient’s oxygenation, ventilation, circulation, and temperature. A high level of monitoring should be maintained until the patient fully recovers from anesthesia. Clinical observations must be supplemented to the monitoring devices.

The report segments the market based on product, application, end user, and region. Based on product, it is classified into anesthesia delivery machines, anesthesia disposables & accessories, anesthesia monitors, and anesthesia information management systems (AIMS). The anesthesia disposables & accessories are further divided into anesthesia circuits, anesthesia masks, laryngoscopes, HME and others. Based on application, it is classified into cardiology, neurology, dental, ophthalmology, urology, orthopedics, and others. Based on end user, the anesthesia devices market is divided into hospitals, ambulatory service centers, and clinics. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Rise in the aging population and patient pool, technological advancements in anesthesia monitoring, and growing number of surgeries are the major factors responsible for the growth of the anesthesia monitoring devices market. The geriatric population is highly likely to get degenerative diseases and chronic illnesses, which has caused an increased verge on surgeries and therapeutics. This demands for continuous monitoring, and it is thus expected to drive the growth of the anesthesia devices market. There has also been a rise in the investments in the market, which is helping in the technological advancements in anesthesia machines and techniques, are having a major impact on market growth, enabling faster deployment in the healthcare industry. However, high cost of devices and presence of conventional techniques are major hindering factors. Along with this, government requirements for clear documentation of regular and appropriate servicing of the anesthesia machines are causing hurdles in the anesthesia devices market.

The outbreak of COVID-19 (SARS-CoV-2) has been spreading globally outside the first Chinese outbreak since January 2020 and the World Health Organization (WHO) declared a pandemic situation on March 11, 2020. The epidemic situation has led to a drastic reduction in hospital activities. In the early phase of the pandemic, due to the increasing cases of COVID-19, all hospitals, globally, had canceled their scheduled and elective surgeries. Acute surgical emergencies were still inevitable and were being addressed in a timely and sensible manner. According to the report published by the British Journal of Surgery, in May 2020, an estimated 585,000 elective surgeries were postponed in the 12-week lockdown in India alone, and millions of elective surgeries worldwide were canceled and postponed.

By product, the Anesthesia Delivery Machines segment generated the highest revenue in 2020, accounting for 51.6% of the total market. This is attributed to the continuous technological advancements, which propels their adoption for providing anesthesia during the surgical procedure.

By application, the orthopedics segment generated the highest revenue in 2020 and is anticipated to continue this trend throughout the forecast period. This is attributed to rise in the incidence and prevalence of orthopedic disorders, growing geriatric population, increasing awareness among people for the orthopedic surgeries and constant innovations are encouraging towards increase in the orthopedic surgeries which will help in propelling the growth of the anesthesia devices market.

By end user, the hospital segment generated the highest revenue in 2020 accounting for 59.2% of the total share of the market and is anticipated to continue this trend throughout the forecast period. This is attributed to the presence of technologically advanced devices and instruments to cater large population base with maximum patient comfort inclination of major players towards selling their devices in the hospitals and favorable reimbursement rules for hospital procedures.

North America is expected to dominate the overall market throughout the forecast period. This is attributed to increase in prevalence of diseases, surgical procedures carried out for disease treatment, and high acceptance of technological developments contributing to the growth of the market in the region.

The key players in this anesthesia devices market have adopted product launch as one of their key developmental strategies such as acquisitions and partnerships. The major companies profiled in the report include General Electric, 3M Company, Ambu A/S, Becton, Dickinson and Company, Draegerwerk AG & Co. KGAA., Smith Medical, SunMed, Teleflex Incorporated, Koninklijke Philips N.V., and B.Braun Melsungen AG.

Key Findings Of The Study

• By product, the anesthesia delivery machines segment was the highest contributor to the market in 2020 and is expected to continue during the forecast period owing to continuous technological advancements, which propels their adoption for providing anesthesia during the surgical procedure.
• By application, the orthopedics dominated the global anesthesia devices market in 2020. This is attributed to rise in the incidence and prevalence of orthopedic disorders, growing geriatric population, increasing awareness among people for the orthopedic surgeries and constant innovations are encouraging towards increase in the orthopedic surgeries which will help in propelling the growth of the anesthesia devices market.
• Based on end user, the hospital segment dominated the global market in 2020 and is anticipated to continue this trend during the forecast period owing to presence of technologically advanced devices and instruments to cater large population base with maximum patient comfort inclination of major players towards selling their devices in the hospitals and favorable reimbursement rules for hospital procedures.
• On the basis of region, in 2020, North America dominated the anesthesia devices market in 2020, owing to increase in prevalence of diseases, surgical procedures carried out for disease treatment, and high acceptance of technological developments contributing to the growth of the market in the region.