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Global Anesthesia Devices Market- Segmented by Product and Geography - Growth, Trends, and Forecast (2019 - 2024)

Global Anesthesia Devices Market- Segmented by Product and Geography - Growth, Trends, and Forecast (2019 - 2024)

  • March 2019
  • 126 pages
  • ID: 5778414
  • Format: PDF
  • By Mordor Intelligence LLP

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The anesthesia devices market is expected to register a CAGR of around 6.4% during the forecast period. The most commonly used device is the continuous-flow anesthetic machine, which provides a continuous flow of air, containing a regulated supply of gas. Modern anesthesia devices include monitor and touch screen display, which help in monitoring heartbeat.

Increasing Number of Surgeries and Anesthesia Practices

The vast increase in the number of surgical procedures undertaken across the globe every year has played a major role in the growth of the anesthesia devices market. The most rapid increase was observed for laparoscopic hysterectomies. As every surgical procedure can be painful, anesthesia is administered to the patient during surgical procedures to keep patients pain free and unconscious during the procedure. The increasing number of surgeries and anesthesia practices is driving the global anesthesia devices market in the forecast period. Other factors, such as technological advancements in the devices sector, large patient pool, and increased disposable income in emerging markets will boost the market in the forecast period.

High Cost of the Devices

The anesthesia procedure involves many devices including machines, delivery systems, ventilators, monitors, disposables, and accessories. It’s a totally cost-driven market. The disadvantage of breathing circuits is the high cost, which is due to large fresh gas flows used in the past. High cost devices should be paid for through a separate price negotiation and in addition to the national price for the related service. They are typically specialist, and their use is concentrated in a relatively small number of centers, rather than evenly across all trusts that carry out activities. These devices would therefore not be fairly reimbursed if they were funded through the tariff, restraining the growth of anesthesia market. This will act as a restraint for the market growth. Also, other factors, such as difficulties associated with the usage of devices and reimbursement issues in developing economies will lead to the slowdown of the growth of the market.

North America to Maintain Market Dominance

North America has the largest share worldwide. Geographically, North America dominates the market for anesthesia devices as it has many companies engaged in this sector. Additionally, the disposable incomes of consumers and health insurance cover for life-threatening diseases in North America are very high, which boosts the growth of this market. Also, owing to a large number of patents in the United States, multinational companies and research organizations make substantial investments on R&D.

The major players include - Baxter, Braun Melsungen AG, Covidien PLC, Draegerwerk AG, Fisher & Paykel Healthcare, GE Healthcare, Koninklijke Philips N.V, Mindray DS USA Inc., Smiths Medical and Teleflex Inc., among others.

Reasons to Purchase this Report
- Current and future Anesthesia Devices market outlook in the developed and emerging markets
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)

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