Global Anesthesia Devices Market 2024-2031

Global Anesthesia Devices Market 2024-2031

Global Anesthesia Devices Market Size, Share & Trends Analysis Report by Product Type (Anesthesia Machines and Disposables & Accessories), and by End-User (Hospitals, Clinics, and Ambulatory Surgical Centers (ASCs)) Forecast Period (2024-2031)

The global anesthesia devices market is anticipated to grow at a considerable CAGR of 7.5% during the forecast period. The ongoing advancements in anesthesia delivery and monitoring technology along with the significant rise in the number of surgical procedures requiring anesthesia is a key factor driving the growth of the global market. The growing geriatric population which is highly susceptible to chronic diseases is further aiding the demand for the global market.

According to World Health Organization (WHO), around 17.9 million fatalities occur each year due to these heart diseases, which is estimated to be around 31.0% of the global fatalities. Amongst these fatalities, around 7.4 million had and approx. 6.7 million fatalities occurred due to a stroke. By 2030, it has been projected that CVDs will be responsible for approx. around 23.6 million mortalities across the globe.

According to the Lifespan Health System (lifespan.org), about 500,000 open heart surgeries are performed each year in the US. The number of these surgeries is expected to grow in the future. Anesthesia is highly required during such surgeries therefore; the growing number of such surgical procedures is anticipated to drive the growth of this global market.

In April 2023, with an investment of $30 million Manitoba government announced to launch of three new operating rooms for the Bethesda Regional Health Centre in Steinbach. These three operating theatres will be with a modern boom system for surgical and anesthesia equipment. Such hospital expansion projects are anticipated to offer lucrative opportunities for global market growth. The high cost of these devices may restrain its market demand. However, favorable reimbursement policies for several surgical procedures are anticipated to offer lucrative opportunities for market growth.

Segmental Outlook

The global anesthesia devices market is segmented based on product type, and end-user. Based on product type, the market is segmented into anesthesia machines and disposables & and accessories. Anesthesia machines are further sub-segmented into anesthesia delivery machines, anesthesia ventilators, and anesthesia monitors. The disposable & and accessories are further sub-segmented into Anesthesia Circuits (Breathing Circuits), anesthesia masks, Endotracheal Tubes (ETTs), and Laryngeal Mask Airways (LMAs). Based on end-users, the market is segmented into hospitals, clinics, and ambulatory surgical centers.

Anesthesia Machines Held Considerable Share in the Global Anesthesia Devices Market

Anesthesia devices are a diverse group of devices that track the delivery of fluids, medications, and gases to a patient. The devices assist in the monitoring and measurement of patients' vital signs to ensure their well-being. The increase in the global geriatric population, as well as the rising rate of surgeries, is the primary driving factor of the market. Anesthesia monitors have become more widely used as a result of physician acceptance and awareness of the devices. Furthermore, the market is being propelled by the demand for safe and standard equipment and medical facilities, which is at an all-time high. The advanced anesthesia machine launches are further aiding the growth of this market segment.

Regional Outlook

The global anesthesia devices market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). North America held a major share of the global market in 2023. The regional market share is attributed to the large number of surgical procedures, advanced healthcare infrastructure, and high medical expenditure. The presence of key market players is further aiding the regional market share.

Asia-Pacific is anticipated to Exhibit Considerable Growth in the Global Market

Asia-Pacific is anticipated to exhibit considerable growth in the global market. The growing medical expenditure, rising accident cases, favorable reimbursement policies, and growing medical tourism in emerging economies a key factors driving the regional market growth. In August 2023, Medovate launched the SAFIRA (SAFer Injection for Regional Anesthesia) Palm Operator in the Singapore market with secured approval from the Singapore Health Sciences Authority (HSA). The increased product launches across the region are further contributing to the regional market growth.

Market Players Outlook

The major companies serving the global anesthesia devices market include Medtronic PLC, Draegerwerk AG, Koninklijke Philips NV, Fisher & Paykel Healthcare, and B. Braun SE among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and advancement in their product offerings to stay competitive in the market. For instance, in August 2023, Mindray unveiled upgrades to its A7 and A5 anesthesia systems under the A Series Anesthesia. These enhancements incorporate innovative technologies that empower anesthesiologists to deliver precise anesthesia, leading to greater patient safety and efficiency throughout the perioperative period.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global anesthesia devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.