Anesthesia Monitoring Devices Market – Understanding Industry Evolution Of Technology Developments For Next Few Years
Anesthesia in basic term is insensitivity to pain. It is used to induce unconsciousness during a surgery. The anesthesia monitoring devices, are used to check a patient’s response toward anesthesia during a surgical process. The requirement of these devices depend upon the type of surgery being performed and it differs in every case. These devices help the anesthetics to monitor the dose of anesthesia. Proper monitoring of the patient reduces the risks involved in anesthesia and surgery.
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Global anesthesia monitoring devices market can be segmented into products and end users. By product, it is segmented into integrated anesthesia workstation, basic anesthesia monitors, others (IT enabled) and advanced anesthesia monitors. Advanced anesthesia monitors are segmented into gas monitors, standalone capnography monitors, depth of anesthesia, and MRI compatible anesthesia monitors. These devices are more accurate and reliable in monitoring anesthesia. Anesthesia can be monitored with different methods, such as EEG Monitors, ECG, bi-spectral index (BIS) obtained from EEG, oxygen and carbon dioxide analyzers, and temperature monitors. Other monitoring instruments can be included, depending on patient’s condition, the type of surgical procedure, and the type of anesthesia used. Hospitals, ambulatory surgical centers, clinics and nursing homes form the major end-users for anesthesia monitoring devices. The number of ambulatory service centers, availability of advanced infrastructure and presence of skilled personnel in hospitals have contributed towards growth of anesthesia device market.
With the new surgical procedures the expectancy of life in individuals has extended. The geriatric population is highly prone to degenerative diseases and chronic illnesses which has caused an increased verge on surgeries and therapeutics. This demands for continuous monitoring, thus would drive the growth of the anesthesia monitoring devices market. The integrated devices with decision support systems and advanced monitoring capabilities not only monitor complex parameters such as inhalation anesthetics, end-tidal concentrations of carbon dioxide and oxygen levels and transcutaneous oxygen saturation but also provides data analysis to help clinicians take decisions related to surgical and therapeutic interventions. But, presence of conventional techniques and high cost of devices and are some of the restraining factors for growth of this market. Also, there are certain side-effects involved, such as cognitive disturbance and post-surgery delirium related to anesthesia, in elderly patients, which is again a raising concern amongst physicians. These concerns have led to research studies which aim in analyzing impact of anesthesia administration on geriatric patients.
Geographically, North America is observed to be the largest anesthesia monitoring devices market due to growing number of surgeries which has raised the awareness among surgeons about the benefits of anesthesia monitoring devices. Also due to extensive technological advancements and rising competition in the market, there is a demand for sophisticated and persistent technological advancements for better result. Asia Pacific is also expected to witness high growth due to unmet wants of large population and the developing healthcare network which is expected to impulse the growth of anesthesia monitoring devices in this region. Moreover, the reimbursement facilities, government funding sources, and increased healthcare awareness has also made easier the usage of advanced techniques in anesthesia monitoring.
The report includes mergers & acquisitions, recent developments and new product launches of leading players in the market. The major players in the anesthesia monitoring devices market are Baxter International, Inc., Cardinal Health, Draegerwerk AG & Co. KGaA, GE Healthcare, Heyer Medical AG, Intersurgical Limited, Medtronic, Inc., Mindray Medical International Limited, Nihon Kohden Corporation, Philips Healthcare, and Smiths Medical, Inc. New collaborative developments and new product techniques are some strategic initiatives taken by the industries to retain oneself in the competition.