Anesthesia monitoring devices are patient monitoring devices used during surgery to track vital signs such as heart rate, blood pressure, and temperature of patients under sedation in the operation theater. Anesthesia monitoring devices play an important role during surgery, to reduce the risk involved in anesthesia. According to the British Journal of Anaesthesia, in 2013, the estimated annual number of general anesthesia were 2,766,600 whereas sedation were given in 308,800 cases in U.K. Modern anesthesia monitoring devices are integrated with other patient monitoring devices in the workstation. For example, GE Healthcare’s Aisys Carestation or Draeger Medical India Pvt. Ltd.’s Draeger Primus is integrated in the workstation. Factors such as new product launches and increasing number of surgeries are expected to be major drivers for growth of the anesthesia monitoring devices market.
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Anesthesia Monitoring Devices Market Drivers
Rising incidence of cardiovascular diseases, chronic diseases, and cancer are expected to increase the number of surgical procedures, which, in turn, is expected to fuel growth of the anesthesia monitoring devices market during the forecast period. For instance, according to Cancer Research U.K., 359,960 new cancer cases were diagnosed in the U.K. in 2015, and 45% of these patients underwent cancer surgery. Increasing incidence of spinal disorders related to old age is also expected to boost growth of the anesthesia monitoring devices market. For instance, according to the National Center for Biotechnology Information (NCBI), in 2007, the global incidence of spinal cord injury was estimated to be 170,312 cases, which increased in the range of 250,000 to 500,000 cases in 2013. Furthermore, growing number of hospitals is also expected to drive growth of the market. According to American Hospital Association (AHA), an annual survey of hospitals recorded 5,534 total number of registered hospitals in 2017, which increased to 5,564 in 2018, in the U.S.
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Market players are also focusing on launching new and advanced data integration systems, which is expected to contribute to the growth of the anesthesia monitoring devices market. For instance, in April 2018, Masimo—a company involved in non-invasive patient monitoring technology-based device manufacturing—launched UniView system—an integrated display of real-time data and alarms—to help data sharing and team coordination between multiple clinics. UniView retrieves information from patient monitors, ventilators, anesthesia gas machines, and IV pumps that can be viewed on central monitors.
Launch of new workstations with novel technology is expected to drive market growth. For instance, according to an article published in the Indian Journal of Anesthesia in 2013, new workstations such as Felix Dual anaesthesia workstation by Air Liquide Medical system, Venar Xenon workstation by Chirana Medical, and Tangens 2C by EKU Electronics are integrated with technology that can recycle xenon and reuse it, thus making anesthesia procedure cost-effective.
Anesthesia Monitoring Devices Market Restrainta
The high cost associated with anesthesia monitoring devices is expected to hinder growth of the anesthesia monitoring devices market. Moreover, increasing number of product recalls are expected to hamper the market growth. For instance, in 2017, Mindray DS USA, Inc. recalled its product A-Series A3/A5 Anesthesia Delivery System due to software issues.
Anesthesia Monitoring Devices Market – Regional Analysis
Regional segmentation of the anesthesia monitoring devices market includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the anesthesia monitoring devices market owing to technological advancements by players operating in this region. For instance, in 2016, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., introduced expanded Optimizer suite for A7 Anesthesia workstation in the market in North America. Asia Pacific is expected to witness fastest growth in the global anesthesia monitoring devices market due to increasing patient pool and growing medical tourism in the region. For instance, according to Directorate-General of Commercial Intelligence and Statistics of India, in 2015-2016, hospitals in India recorded 460,000 international patients. Moreover, according to Indian Medical Travel Journal, the top five hospitals in India, namely, Apollo, Fortis, Narayana Health, Manipal Hospital, and Max Healthcare generated revenue of around US$ 155 million from international patients.
Anesthesia Monitoring Devices Market – Competitive Analysis
Key players operating in the anesthesia monitoring devices market are Masimo, Fukuda Denshi, Infinium Medical, Covidien PLC (a subsidiary of Medtronic plc.), GE Healthcare, Nihon Kohden Corporation, Philips Healthcare, Mindray Medical International Limited, Drägerwerk AG & Co. KGAA, Schiller AG, Criticare Systems, Inc., and Heyer Medical AG.
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Market players are adopting inorganic growth strategies such as partnerships and mergers and acquisitions, which is boosting growth of the anesthesia monitoring devices market. For instance, in September 2017, Intuitive Surgical signed an MoU with GE Healthcare for clinical application of robotic-assisted surgery in GE Healthcare’s CS600 anesthesia machine.
Anesthesia Monitoring Devices Market Taxonomy:
By Product Type:
- Advanced Anesthesia Monitor
- Anesthesia Gas Monitors
- Depth of Anesthesia Monitors
- Standalone Capnography Monitors
- MRI Compatible Anesthesia Monitors
- Basic Anesthesia Monitor
By End User:
- Cancer Centers
- Multispecialty Clinics
- Cardiac Centers
- Ambulatory Surgery Centers
- North America
- Latin America
- Asia Pacific
- Middle East
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