According to the report published by Allied Market Research, the global anesthesia devices market garnered $9.56 billion in 2016, and is expected to reach $15.46 billion by 2023, growing at a CAGR of 7.1% from 2017 to 2023. The report states that the anesthesia delivery machine segment garnered the highest market share in 2016, contributing to more than half of the total share in 2016.
Anesthesia is an important medical procedure utilized for controlling pain during the surgery. Pharmaceutical drugs, known as anesthetics, are utilized in the devices used for giving anesthesia. Anesthesia devices can be utilized at the time of various surgical procedures, including cardiology, dental, ophthalmology, and neurology for sedation to control blood pressure, breathing, heart rate & rhythm, blood flow, and pain.
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Surge in number of surgical procedures across the globe, technological advancements, and increase in geriatric population prone to surgical procedures drive the growth in the global anesthesia devices market. However, the high expense of the anesthesia devices presents a major restraint to the growth of the industry. Emerging countries, such as LAMEA and Asia-Pacific, would offer new opportunities to the manufacturers of anesthesia devices.
The anesthesia delivery machine segment contributed the highest market share in 2016, and is estimated to maintain its dominance during the forecast period. Moreover, it is a lucrative segment, growing at a CAGR of 6.3% from 2017 to 2023, owing to rise in implementation of these devices at the time of the surgical procedures.
Key Findings of the report:
- The anesthesia disposables & accessories segment is expected to register a CAGR of 8.0% from 2017 to 2023.
- Based on regions, North America held the major market share in 2016, contributing nearly two-fifths of the total share.
- In 2016, the anesthesia delivery machines segment held the market share of nearly half of the market.
- Based on end user, the ambulatory service centers segment contributed to nearly two-sevenths share of the global anesthesia devices market in 2016.
In 2016, North America held the major share of nearly two-fifths of the total share and is expected to maintain its dominating position throughout the forecast period. This is due to rise in number of surgical procedures and increase in adoption of technologically advanced devices. On the other hand, Europe held the second position in the market.
The major companies analyzed in the research include GE Healthcare, Smiths Group plc., Becton Dickinson and Company, Teleflex Incorporated, Ambu S/A, Drgerwerk AG & Co. KGaA, Ventlab, 3M Company, SunMed, and Airsep Corporation.
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