Anesthesia monitoring devices are type of patient monitoring devices used during surgery to track vital signs such as heart rate, blood pressure, and temperature of patients under sedation in the operation theater. Anesthesia monitoring devices play an important role during surgery, to reduce the risk involved in anesthesia. According to British Journal of Anaesthesia article 2013 survey, the estimated annual number of general anesthesia were 2,766,600 whereas sedation were given in 308,800 cases in U.K. Modern anesthesia monitoring devices are integrated as a part of workstation with other patient monitoring devices. For example, GE Healthcare’s Aisys Carestation or Draeger Medical India Pvt. Ltd.’s Draeger Primus is integrated in the workstation. Factors such as new product launches and increasing number of surgeries are expected to be the major driver for growth of the anesthesia monitoring devices market.
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Anesthesia Monitoring Devices Market Drivers
Increasing incidence of cardiovascular diseases, chronic diseases, and cancer are expected to increase the number of surgical procedures, which in turn is expected to fuel growth of the anesthesia monitoring devices market during the forecast period. For instance, according to Cancer Research U.K., 359,960 new cancer cases were diagnosed in U.K. in 2015 and 45% of these patients underwent cancer surgery. Increasing incidence of spinal disorders related to old age is also expected to boost growth of the anesthesia monitoring devices market. For instance, according to the National Center for Biotechnology Information (NCBI), in 2007, the global incidence of spinal cord injury was estimated to be 170,312 cases, which increased up to 250,000 to 500,000 cases in 2013. Furthermore, growing number of hospitals is also expected to drive growth of the market. According to American Hospital Association (AHA), an annual survey of hospitals recorded 5,534 total number of registered hospitals in 2017, which increased to 5,564 in 2018, in the U.S.
Anesthesia Monitoring Devices Market - Regional Analysis
Regional segmentation of anesthesia monitoring devices market by Coherent Market Insights includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the anesthesia monitoring devices market, owing to rampant advancements in technology in this region. For instance, in 2016, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., introduced expanded Optimizer suite for A7 Anesthesia workstation in the market in North America. Asia Pacific is expected to witness fastest growth in the global anesthesia monitoring devices market due to increasing patient pool and growing medical tourism in the region. For instance, according to Directorate-General of Commercial Intelligence and Statistics of India, in 2015-2016, hospitals in India recorded 460,000 international patients. Moreover, according to Indian Medical Travel Journal, the top five hospital namely, Apollo, Fortis, Narayana Health, Manipal Hospital, and Max Healthcare generated revenue of around US$ 155 million by international patients.
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