The global anesthesia machinery market is estimated to reach USD 3,288.0 million by 2026 from USD 2,001.6 million in 2018. The market is expected to grow at a CAGR 6.3% during the forecast period 2019-2026.
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Anesthesia machines are used for administering anesthesia into patients, so that they do not feel any pain during medical surgeries.
Factors such as growing number of surgeries and technological advancements are expected to drive the market growth. According to a data published by the European Commission, 1,045.9 procedures per 100,000 inhabitants were performed in Germany in the year 2017. Other factors responsible for market growth include increasing geriatric population who are prone to many chronic diseases.
However, risk of contamination due to usage of anesthesia machines during surgeries which can result into bacterial infections and lack of skilled & trained anesthesiologists is expected to negatively impact the market growth during the forecast period.
The global anesthesia machinery market is witnessing an emerging trend of using computer-controlled anesthesia machines currently. This factor might pose as a lucrative opportunity for medical device companies to invest in the market.
Currently, due to COVID-19, many major players are involved in converting the anesthesia machines into ventilators so that they can meet the shortage of ventilators faced globally.
The global anesthesia machinery market has been segmented into product, subject, application, end user, and region.
On the basis of product, the global anesthesia machinery market is divided into continuous anesthesia machinery and intermittent anesthesia machinery. Continuous anesthesia machinery is the most popular product in the market which contributes to its major market share.
By subject, the global anesthesia machinery market is classified into human and veterinary. Growing number of chronic diseases in human is expected to contribute to the largest market share of the human segment.
Based upon the application, the market is categorized into nervous system surgeries, respiratory system surgeries, musculoskeletal system surgeries, cardiovascular system surgeries, digestive system surgeries, urinary system surgeries, and ENT system surgeries. The cardiovascular system surgeries is anticipated to hold the largest market share owing to high number of cardiovascular diseases requiring surgeries.
The market on the basis of end user is segmented into hospitals, point of care, and others. Since, hospitals are the primary care centers, they are expected to hold a major market share.
By region, the global anesthesia machinery market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
North America is estimated to lead the global market in 2019, owing to high number of surgical procedures and presence of major players in the region. The major players in the region include Cardinal Health Inc., General Electric Company, Teleflex Incorporated and Vyaire Medical Inc., among others. The Europe market is expected to garner significant market share owing to rising number of surgeries and well-developed healthcare infrastructure. The British Journal of Anaesthesia in July 2017 published a data stating that an annual average of 7.9 million procedures (inclusive category), 5.1 million procedures (intermediate category) and 1.5 million procedures (restrictive category) were performed between April 2009 and March 2014 in the UK. The anesthesia machinery market is the Asia-Pacific region is anticipated to grow at the fastest CAGR owing to increasing research & development activities by major players in the region and the fast-developing healthcare infrastructure in the region. The market in LAMEA is expected to slowly grow owing to developing healthcare infrastructures of countries in the Latin American region and Middle East region.
Key market players covered in the report include Cardinal Health Inc. (US), Dragerwerk AG & Co. KGaA (Germany), Fisher & Paykel Healthcare Limited (New Zealand), General Electric Company (US), HEYER Medical AG (Germany), Koninklijke Philips N.V. (Netherlands), Mindray DS USA Inc. (China), Smiths Group Plc (UK), Teleflex Incorporated (US), Vyaire Medical Inc. (US), and others. These companies are involved in product approvals and investments in research & development to manufacture technologically advanced anesthesia machines. For instance, in May 2018, Getinge AB announced the launch of the Flow-C anesthesia machines.
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