The introduction of various new monitoring techniques, such as monitoring the depth of anesthesia, goal-directed fluid therapy, advanced neurological monitoring, improved alarm system, and the technological advancements in the objective pain assessment, are some of the advancements, which are driving the global anesthesia monitoring devices market. The other factors, which are also driving the market, include an increase in demand for pain-free surgeries and the development of automated record-keeping systems.
The risks associated with anesthetic care reduced considerably during the last decade, due to technological advancement and automation, which have played a significant role in improving the safety of patients. Increasing investments in the market, which are supporting the technological advancements in anesthesia machines and techniques, are having a major impact on the market’s growth, enabling faster deployment in the healthcare industry.
Hence, owing to the above-mentioned factors, the market studied is expected to witness high growth over the forecast period.
Key Market Trends
Gas Monitor is Expected to Witness the Steady Growth Over the Forecast Period.
The concern about patient safety has given rise to various technological advancements in the anesthesia market and the adoption of those technologies is huge in the developing as well as developed nations. The increasing number of surgeries globally and the demand for painless surgeries are boosting the segment growth.
Some of the technologies that were born due to the patient safety issue include airway pressure monitoring and breathing system disconnect alarms, monitoring of inspired oxygen, monitoring of expired CO2, and pulse oximetry. There is an ongoing technical advancement in the field of respiratory gas monitoring. This is mainly done to monitor the potent inhaled anesthetic agents such as N2 O, CO2, and O2. The gas monitoring is gaining attraction across the globe due to the valuable information it provides to the anesthesia caregiver. The advancements in the gas monitors include the reduction in the size and weight of the same which has attracted the operating rooms across the developed and developing nations.
Added to that, the feedback achieved through these monitors has become a significant tool designed to ensure the patient’s safety during the perioperative period. Some of the well-known companies into the gas monitoring business are Masimo, and Dr?gerwerk AG & Co. KGaA.
United States is Expected to Dominate the Global Market
The United States is expected to observe continuous increase in the number of diseases, such as obesity, cardiovascular problems, and different types of cancers, which has contributed to the rise in the number of surgeries of both open, as well as minimally invasive types. The increase in the number of minimally invasive surgeries for chronic diseases has helped the growth of the anesthesia monitoring devices market.
According to the data from National Quality Forum (NQF) published in 2017, it was inferred that NQF organized the Surgery Standing Committee to evaluate 13 endorsed maintenance measures and 10 new measures related to surgical conditions, as well as to make recommendations for NQF endorsement. As the majority of the complex operations require anesthesia, the increasing admission of patients and growing population may act as potential drivers for the United States anesthesia monitoring devices market, in the near future.
The market studied is moderately competitive and is comprised mostly of global players. However, in developing countries, there is a high competition among the local players. As the medical device is growing rapidly and witnessing new entrants, it is believed that in the near future, more companies will enter the market studied and hold a substantial share of this market.
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