Vietnam & Philippines Anesthesia Monitoring Devices Market - 2022-2029

Vietnam & Philippines Anesthesia Monitoring Devices Market - 2022-2029

Market Overview

The ""Vietnam & Philippines Anesthesia Monitoring Devices Market"" is expected to grow at a CAGR of 5.6% during the forecasting period (2022-2029).

Anesthesia monitoring devices are used to measure the vital signs and depth of anesthesia during surgical procedures. These devices reduce the risks involved in surgery and check the individual’s response toward anesthesia during a surgical procedure. The requirement of these devices depends on the type of surgery. These devices allow the anesthetics to monitor the anesthesia dose. Anesthesia monitoring devices have evolved from standalone monitors to advanced monitors to meet the changing needs of the market.

Market Dynamics

There are various factors that are driving the growth of the market such as increase in number of surgeries worldwide, technological advancements in anesthesia monitoring and surge in aging population. These all are key factors for driving the growth of market.

Increasing advancements in technology and surge in surgical procedures are expected to drive market growth.

The growing volume of surgical procedures is expected to increase the demand for anesthesia monitoring devices. These surgeries help treat cardiovascular diseases, gastrointestinal diseases, urological disorders, spinal abnormalities, brain tumors, and orthopedic deformities. Every open surgery is painful therefore anesthesia is administered during surgical procedures to keep individual pain-free and unconscious during the procedures. The anesthesia monitoring devices help the anesthetist to monitor the dose of anesthetic drugs (depth of anesthesia) used in inpatient care.

Also, people aged 60 years and above are susceptible to age-related conditions such as chronic obstructive pulmonary disease (COPD), arthritis, and heart disorders, and may require surgical procedures for disease management. Anesthesia is essential to sedate patients to administer during treatment. The monitoring devices measure all vital signs during the anesthetic condition. Some of the modern anesthesia monitoring devices possess features that include, wireless networking capabilities, better display and visualization, touch screen operability, and drug dosing calculator. The anesthetic agents are administered through inhalation, injection, and rectal route. Several gases and anesthetic agents in liquid form are administered to the individual during surgeries.

The rise in surgical procedures has increased the demand for operating room equipment and consumables such as anesthesia monitoring devices in hospitals, clinics, and ambulatory surgical centers. The increase of surgery in the Philippines plays a major role in Philippines Anesthesia Monitoring Devices Market.

The technological advances are further increasing the adoption rates of anesthesia monitoring devices, owing to the advantages associated with such devices.

High cost of these anesthetic monitoring devices is expected to hamper the market growth.

High cost of devices is the key factor for restraining the growth of market. And there are various other conventional techniques or methods that can also hamper the growth of market during the forecast period.

Industry Analysis

The Vietnam & Philippines anesthesia monitoring devices market provides in-depth analysis of the market based on various industry factors such as Porter’s Five Forces, Regulatory Analysis, Supply Chain Analysis, Reimbursement Policies, Technological Advancements & Key Developments and Comparative Scenario.

Segment Analysis/B>

Advanced anesthesia monitors segment is expected to hold the largest market share in Vietnam & Philippines anesthesia monitoring devices market

The growing number of surgical procedures that require general anesthesia across various therapeutics including oncology, cardiovascular, respiratory, orthopedic, and neurology are increasing the adoption rate of anesthesia monitoring devices.

According to the Vietnam Ministry of Health, 2019 a total of 89,000 foreigners came to the country for medical reasons and 10,100 underwent treatment in the period.

During these surgical procedures, anesthesia is administered through anesthesia monitoring devices. The market is evolved in developed countries and will grow in emerging economies as well due to several opportunities. Vendors are also focusing on the development of integrated anesthesia monitoring devices that are compatible in various out-patient settings. Many companies such as GE Healthcare, Drägerwerk, Philips, and Penlon develop both stand-alone and integrated monitoring devices to assist physicians during surgeries and to measure vital signs of an individual, anesthetic agents monitoring, and also the depth of anesthesia.

Also, EEG devices and ECG electrodes are used to measure the depth of anesthesia during surgeries. For instance, Masimo developed the SedLine brain function monitoring device, which is an EEG Sensor brain function monitoring, provides real-time insights into the patient’s depth of anesthesia. These monitors can enhance patient comfort during surgery, minimize complications associated with sedation, and improve medical care

Also, the market witnessed a shift toward the use of portable anesthesia monitoring devices due to the increasing demand for emergency procedures. For instance, Infinium offers ADS Express line portable anesthesia monitoring devices. Further, the increasing focus of vendors toward partnerships with hospitals to provide training to physicians and nurses on anesthesia monitoring devices will drive the adoption rates substantially.

Geographical Analysis

Vietnam region holds the largest market share in the Vietnam & Philippines anesthesia monitoring devices market

By region, the Vietnam & Philippines anesthesia monitoring devices market is segmented into Vietnam and Philippines. Out of two, Vietnam region dominates the Vietnam & Philippines anesthesia monitoring devices market due to growing number of surgical procedures that require general anesthesia. According to the Vietnam Ministry of Health, 2019 a total of 89,000 foreigners came to the country for medical reasons and 10,100 underwent treatment in the period.

In a report published on Jan 2022, titled “Trauma Care Training in Vietnam” reported that in between 2006-2018, there is huge increase in number of motorcycles and cars, around 317% and 413%. Significantly the number of accidents has been increased also. In 2021 (first quarter) improvement was seen but still the stats are alarming with 3206 cases that involves 2386 injuries and nearly 1672 deaths. Due to the better facilities provided by government and various initiative started by organization for creating awareness in people is significantly seen that is a key factor. Various novel technological advancements are taking place that are also fueling the growth of anesthesia monitoring device market.

Competitive Landscape

The Vietnam & Philippines Anesthesia Monitoring Devices market is fragmented with the presence of many local and international players. Dragerwork AG and CO., Masimo, Fukuda Denshi, Medtronic PLC, GE Healthcare, Nihon Kohden Corporation, Philips Healthcare, Mindray Medical International Limited, Schiller AG, Heyer Medical AG, Criticare Systems, Inc are the leading companies with a significant market share.

Technology advancement, product diversification, market expansion, and new product launches intensify the market competition. For instance, Similarly in Mar 2020, Aeonmed Group acquired Heyer Medical and their medical ventilators products.

Similarly, in Oct 2020, Mindray launched A9 &A8 anesthesia systems that will provide clinicians with patient safety maintenance utilising High Flow Nasal Cannula Oxygen which will elongate apnoeic safe time.

Key Companies to Watch

Dragerwerk AG & Co. KGAA:

Overview: Drager is German based company that develops patient monitoring systems, gas analysis technologies and protection and breathing equipment. It was founded in 1889 and is headquartered in Lubeck, Germany. They provide various services such as medical ventilators, anaesthetic machines, breathalyzers etc.

Product Portfolio:

Perseus A500: This is an anesthesia monitoring device that combines ventilation technology with latest advancements and improvements in ergonomics and system integration with an anesthesia platform that is easy to operate.

Key Developments: In Mar 2022, Drager launched SDC which distributes alarms very reliably and efficiently. The medical staff will get notified on the mobile devices about their patients.

The Vietnam & Philippines anesthesia monitoring devices market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.