Market Size of Anesthesia Monitoring Devices Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 2.64 Billion |
Market Size (2029) | USD 4.29 Billion |
CAGR (2024 - 2029) | 10.02 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Anesthesia Monitoring Devices Market Analysis
The Anesthesia Monitoring Devices Market size is estimated at USD 2.64 billion in 2024, and is expected to reach USD 4.29 billion by 2029, growing at a CAGR of 10.02% during the forecast period (2024-2029).
The COVID-19 outbreak impacted the healthcare sector, as hospital and healthcare services were significantly reduced in the first phase of the pandemic due to social distancing measures taken by the government. Moreover, the COVID-19 pandemic affected the economy and adversely impacted the functioning of general hospital care for non-COVID-19 patients in hospitals. For instance, an article published in the Journal of Anaesthesia in September 2021, one-third of the anesthesia staff were unavailable, 42% of operating theaters were closed, and national surgical activity was reduced to less than half, including reduced cancer and emergency surgery due to the restriction imposed during the pandemic. However, in the second phase of the pandemic, there was an increased demand for anesthesia monitoring devices due to the need for critical care equipment for patients infected with COVID-19 infection, along with patients who needed surgeries that got delayed due to the restriction. For instance, according to a press release by the Economic Times, in July 2022, private hospitals and clinics across the board saw a 20%-30% increase in elective procedures compared with pre-pandemic levels, patients who had postponed or refused surgery due to concerns about COVID infections in the last two years were lining up to have those procedures done. Hence, the COVID-19 pandemic had significantly impacted the market growth during the initial phases but as the started to recover due to the resumption in the surgeries.
Certain factors driving the market growth include development in anesthesia technology and automated record-keeping systems, and an increase in the demand for pain-free surgeries. For instance, according to an article published by Acta Anaesthesiologica Scandinavica in November 2021, opioid-free anesthesia can improve postoperative outcomes in several surgical settings without evidence of adverse effects on patient safety and pain management. Such an advantage is expected to increase the demand for pain-free surgeries, driving market growth over the forecast period.
Additionally, the increasing initiatives, product launches, and strategies by market players are also expected to contribute to the market growth. For instance, in November 2021, MDoloris Medical Systems secured regulatory clearance for its HFVI MOC-9 high-frequency variability index monitor in Japan. The HFVI MOC-9 technology is the first monitoring solution for patients undergoing analgosedation and anesthesia.
Hence, due to the abovementioned factors, the anesthesia monitoring device market is anticipated to grow over the forecast period. However, the availability of conventional techniques and the high cost of anesthesia monitoring devices will likely restrain the market growth.
Anesthesia Monitoring Devices Industry Segmentation
As per the scope of the report, anesthetic monitoring devices are used for drug and gas delivery to patients and to measure and display the physiological state of the patient. The Anesthesia Monitoring Devices Market is Segmented by Product (Basic Anesthesia Monitor, Integrated Anesthesia Workstation, Advanced Anesthesia Monitor (Gas Monitor, Standalone Capnography Monitor, Monitors for Depth of Anesthesia, and MRI Compatible Anesthesia Monitor), and Other Products), End User (Hospitals and Ambulatory Surgery Centers), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Basic Anesthesia Monitor | ||||||
Integrated Anesthesia Workstation | ||||||
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Other Products |
By End User | |
Hospitals | |
Ambulatory Surgery Centers |
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Anesthesia Monitoring Devices Market Size Summary
The anesthesia monitoring devices market is poised for significant growth over the forecast period, driven by advancements in anesthesia technology and an increasing demand for pain-free surgeries. The market experienced initial setbacks due to the COVID-19 pandemic, which led to a reduction in non-COVID-19 related surgeries and a temporary decline in market activity. However, as healthcare services resumed and the demand for critical care equipment surged, the market began to recover. Factors such as the development of automated record-keeping systems and the growing preference for opioid-free anesthesia are expected to further propel market expansion. Additionally, the introduction of innovative products and regulatory approvals by key market players are anticipated to contribute to the market's growth trajectory.
The market's expansion is also supported by the rising incidence of chronic diseases, which necessitates more surgeries and, consequently, a higher demand for anesthesia monitoring devices. The increasing use of magnetic resonance imaging (MRI) in surgical procedures, driven by the growing prevalence of conditions like cancer, is expected to boost segmental growth. North America, in particular, is projected to witness continued growth due to the high incidence of chronic diseases and frequent product launches in the region. The competitive landscape is moderately concentrated, with major players like Drägerwerk AG & Co. KGaA, Masimo, and GE Healthcare holding significant market shares. These companies are actively engaging in strategic initiatives, such as exclusive distribution agreements and the introduction of new monitoring technologies, to strengthen their market positions.
Anesthesia Monitoring Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Development in Anesthesia Technology and Automated Record-keeping Systems
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1.2.2 Increase in the Demand for Pain-free Surgeries
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1.3 Market Restraints
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1.3.1 Availability of Conventional Techniques and High Cost of Anesthesia Monitoring Devices
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1.3.2
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Basic Anesthesia Monitor
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2.1.2 Integrated Anesthesia Workstation
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2.1.3 Advanced Anesthesia Monitor
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2.1.3.1 Gas Monitor
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2.1.3.2 Standalone Capnography Monitor
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2.1.3.3 Monitors for Depth of Anesthesia
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2.1.3.4 MRI Compatible Anesthesia Monitor
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2.1.4 Other Products
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2.2 By End User
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2.2.1 Hospitals
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2.2.2 Ambulatory Surgery Centers
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Anesthesia Monitoring Devices Market Size FAQs
How big is the Anesthesia Monitoring Devices Market?
The Anesthesia Monitoring Devices Market size is expected to reach USD 2.64 billion in 2024 and grow at a CAGR of 10.02% to reach USD 4.29 billion by 2029.
What is the current Anesthesia Monitoring Devices Market size?
In 2024, the Anesthesia Monitoring Devices Market size is expected to reach USD 2.64 billion.