Depth of Anesthesia Monitoring Market Analysis and Forecast to 2031: By Product (Devices, Consumables), Device (Module, Standalone), Mode of Purchase (Group Purchasing Organization, Direct Purchase), End User (Hospitals, Ambulatory Surgery Center & Clinic

Depth of Anesthesia Monitoring Market Analysis and Forecast to 2031: By Product (Devices, Consumables), Device (Module, Standalone), Mode of Purchase (Group Purchasing Organization, Direct Purchase), End User (Hospitals, Ambulatory Surgery Center & Clinics), and Region

The global depth of anesthesia monitoring market was valued at USD 252.7 million in 2021 and it is anticipated to grow further till USD 409.7 million by 2031, at a CAGR of 4.9% during the forecast period.

The depth of anesthesia refers to how much different anesthetic drugs have suppressed the central nervous system (CNS). By allowing or permitting medication delivery in opposition to the patient's measured level of waking up or wakefulness, the depth of anesthesia monitoring devices aid in the individualization of anesthesia. These tools are used to gauge the EEG's regularity, which can then be used to determine the precise or approximative level of anesthesia.

Global Depth of Anesthesia Monitoring Market Scope and Report Structure

Market Trends and Drivers

The primary reasons propelling the global market are the rise in osteoporosis and osteoarthritis incidence, as well as an increase in the number of knee and hip replacement procedures. A major health problem, osteoporosis is prevalent among the elderly population. The illness is linked to joint and bone wear in the hip, knee, wrist, and spinal column. Every year, 8.6 million fractures are attributed to osteoporosis worldwide. Women are more likely than men to have this health problem. The International Osteoporosis Foundation estimates that 75 million people in Europe, the United States, and Japan have osteoporosis.

Market Restraints and Challenges

However, a lack of knowledge on the part of the experts using the devices, extravagant pricing of the equipment, rigorous regulations from regulatory agencies, together with insufficient healthcare facilities in developing countries, could represent possible barriers to growth in the future.

Global Depth of Anesthesia Monitoring Market Segmental Overview

The global depth of anesthesia monitoring market is segmented into product, device, mode of purchase, end user, and region.

Global Depth of Anesthesia Monitoring Market by Product

Based on the product, it is segmented into devices, and consumables. The devices segment is anticipated to dominate the market during the forecast period. The increasing number of surgeries coupled with increasing patient pool in hospitals is boosting the growth of the market.

Global Depth of Anesthesia Monitoring Market by Device

Based on the device, it is segmented into modules, and standalone. The module segment is anticipated to dominate the market during the forecast period. The widespread use of modules in different clinical settings coupled with aid in the measurement of patient state index and direction of arrival parameters is boosting the growth of the market.

Global Depth of Anesthesia Monitoring Market by Mode of Purchase

Based on the purchase, it is segmented into group purchasing organization and direct purchase. The group purchasing organization segment is anticipated to dominate the market during the forecast period. The superior bargaining power of GPOs for bulk purchases over individual clinical settings is the major factor responsible for the large volume of device purchases done through GPOs. However, the role of GPOs in Medical Devices purchasing is shrinking as they focus on cost and volume to earn administrative fees from manufacturers rather than on the quality and functionality of products.

Global Depth of Anesthesia Monitoring Market by End User

Based on the end user, it is segmented into hospitals, ambulatory surgery centers and clinics. The hospital end user segment is anticipated to dominate the market during the forecast period. The increasing patient pool in hospitals coupled with increasing number of surgeries are the major factors boosting the growth of the market.

Geographical Analysis of the Global Depth of Anesthesia Monitoring Market

Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. The increasing adoption of technological advancements and growing research & developmental activities are anticipated to boost the growth of the global depth of anesthesia monitoring market.

Major Players in the Global Depth of Anesthesia Monitoring Market

The key players studied in the global depth of anesthesia monitoring market are Medtronic plc, GE Healthcare (General Electric Company), Nihon Kohden Corporation, Koninklijke Philips N.V., Spacelabs Healthcare (OSI Systems, Inc.), Masimo, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., BrainU Co., Ltd., and Mennen Medical Ltd among others.

COVID-19 Impact

Over the past few years, there has been a consistent expansion in the market for depth of anesthesia monitoring devices on a global scale. Due to technological improvements, which are predicted to increase demand for and usage of monitoring equipment for gauging anesthetic depth, the trend is anticipated to continue during the projection period. To introduce new products, businesses in the market are increasingly choosing in-licensing and partnership arrangements. As a result, the market's players have a lot of chances thanks to the rise in demand for technology-driven solutions, economic expansion, and rising disposable income. Due to the cancellation of procedures, the need for anesthetic monitoring equipment has slightly decreased during the COVID-19 pandemic. Despite this, the number of COVID-19 cases is fast falling globally. As a result, medical technology businesses anticipate a rise in demand for the depth of anesthesia monitoring devices, driven by the rise in in-office visits at hospitals and clinics.

Recent Developments

February 2022, Masimo received the U.S. FDA approval for SedLine, which is an advanced depth of anesthesia monitor for patients as young as one year old in the U.S.

January 2020, Medtronic Plc acquired Stimgenics, LLC to provide novel treatment for spinal cord stimulation therapy. This move is expected to improve the production and distribution of its products in different countries.

Frequently Asked Questions

Q1. How big is the Depth of Anesthesia market?

Ans. The global Depth of Anesthesia market size was USD 252.7 million in 2021 and it is anticipated to grow further till USD 409.7 million by 2031, at a CAGR of 4.9% from 2022 to 2031.

Q2. What is the Depth of Anesthesia market growth rate?

Ans. The growth rate of the Depth of Anesthesia market is 4.9%.

Q3. Which region holds a major market share for the Depth of Anesthesia market?

Ans. North America holds a major market share of the Depth of Anesthesia market in 2021.

Q4. Which segment accounted for the largest Depth of Anesthesia market share?

Ans. By end user, the hospitals segment accounted for the largest Depth of Anesthesia market share.

Q5. Who are the key players in the Depth of Anesthesia market?

Ans. The global Depth of Anesthesia market report includes players such as Medtronic plc, GE Healthcare (General Electric Company), Nihon Kohden Corporation, Koninklijke Philips N.V., Spacelabs Healthcare (OSI Systems, Inc.), Masimo, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., BrainU Co., Ltd., and Mennen Medical Ltd among others.

Q6. What are the factors driving the Depth of Anesthesia market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Depth of Anesthesia market players?

Ans. The key growth strategies of Depth of Anesthesia market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Depth of Anesthesia market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Depth of Anesthesia market during the forecast period.