Anesthesia devices Market Analysis by Product Type (Basic Anesthesia Monitors, Integrated Anesthesia Workstations, and Disposables); and by End User (Hospitals, Ambulatory Surgical Centers, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 3840 | Published Date: Feb 20, 2023
The global anesthesia devices market is estimated to garner a revenue of USD 28.0 Billion by the end of 2035 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 15.0 Billion in the year 2022. The market growth is primarily driven by a higher number of people suffering from cardiovascular diseases, cancer, and others. Moreover, the increasing prevalence of chronic diseases such as cardiovascular disease, cancer, and others is leading to a higher demand for surgical procedures, which in turn is driving the demand for anesthesia devices. In the United States, cardiovascular disease claims one life every 34 seconds. Moreover, every 1 in 5 deaths in the United States in 2020 was caused by heart disease, which claimed about 7000,000 lives. Furthermore, in 2020, there were around 18,0oo billion new cancer cases reported worldwide. In 2020, the combined age-standardized rate for all malignancies, excluding non-melanoma skin cancer, was 190 per 100,000.
Additionally, the aging population and the increasing adoption of minimally invasive surgical procedures are also driving market growth. Minimally invasive procedures, such as laparoscopic surgery, require the use of specialized anesthesia devices, which is contributing to the growth of the market. Besides this, the global anesthesia market growth is also attributed to a higher number of surgical procedures performed, which can be done for many causes, including cancer, organ transplantation, bypass surgery, and others. According to the estimates, around 129,681 organ transplants took place globally in 2020. The kidney, liver, and heart are the three organs that are transplanted the most globally. Furthermore, nearly 60% of cancer cases require surgical care, and around 17 million die every year globally from a lack of timely surgical care. In addition, nearly 90% of maternal deaths can be prevented by the intervention of obstetric surgery.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~9% |
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Base Year Market Size (2022) |
~ USD 15.0 Billion |
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Forecast Year Market Size (2035) |
~ USD 28.0 Billion |
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Regional Scope |
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Growth Drivers
Rising Prevalence of Chronic Diseases- Chronic disease involves diabetes, heart issues, cancer, and others. In many cases, patients with heart issues and cancer get to the stage of needing surgery. Therefore, anaesthesia device demand also increases. The World Health Organization estimates that cardiovascular diseases claim the lives of almost 18 million people worldwide each year.
Surging Population of Old Adults- The global geriatric population is rising every year. One in six individuals on the planet will be 60 or older by 2030. Moreover, globally between 2020 and 2050, the number of people 80 or older is projected to triple, reaching 426 million as per the statistics of the World Health Organization.
Requirement of Surgical Procedure is Increasing- The demand for anesthetic equipment rises, along with the number of surgeries conducted globally. More than 310 million surgical operations are performed every year throughout the world. Furthermore, surgery is needed to treat almost 11% of diseases worldwide.
Growing Need for Anesthesia- Anesthesia is a medical aid that prevents patients from feeling the process of ongoing surgery. The rising cases of surgical care are boosting the demand for anesthesia. As of April 2020, it was projected that Japan had executed around 67% more general anesthetic cases than it had in 2015.
Technological Advancement of Anesthesia Devices- A global leader in innovative healthcare technology, Mindray, launched the new anesthesia systems A9 and A8, in Europe. The new system has cutting-edge technologies that cater to physicians' needs during the whole perioperative phase, enabling them to give patients precise, stable, and safe anesthesia.
Challenges
The global anesthesia devices market is segmented and analyzed for demand and supply by the end user into hospitals, ambulatory surgical centers, and others. Out of all, the hospital segment is anticipated to hold the largest market size by the end of 2035. The segment’s growth is expected on account of the rise in the number of hospitals and the need for individuals to receive treatment in hospitals. Moreover, people are opting for hospitals in order to have surgical procedures with better medical facilities, and this is expected to surge the segment’s growth in the market. There were over 8,000 hospitals in Japan as of 2020. Korea, by contrast, had about 4,000 hospitals. In addition, there were more than 6000 hospitals in the US.
The global anesthesia devices market is also segmented and analyzed for demand and supply by product type into basic anesthesia monitors, integrated anesthesia workstations, and disposables. Out of these segments, the integrated anesthesia workstations segment is expected to garner the largest share of the market by the end of 2035. Integrated anesthesia workstations are customized medical carts that contain a ventilator, an anesthetic machine, and monitoring tools. The use of these–in–solutions is expected to grow as surgical procedures grow in number globally, which can be owed to chronic diseases, road accidents, and other cases which require surgical medical attention. For instance, it is estimated that over 1.25 million people die every year owing to road accidents across the globe.
.Our in-depth analysis of the global anesthesia devices market includes the following segments:
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By Product Type |
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By End User |
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The North America anesthesia devices market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The North American market growth is expected on the account of a higher number of people suffering from chronic disease and a higher number of people who need organ transplantation. Organ transplants are often required in lifesaving situations and surgeries when a disease or illness progresses to later stages. The burden of chronic diseases is increasing in the U.S. as a result of a sedentary lifestyle, rising disposable income, and a higher life expectancy. Such diseases have become a leading cause of mortality. As per the statistics of the Centers for Disease Control and Prevention, 6 out of 10 U.S. adults are living with a chronic illness and every 4 out of 10 people have at least 1 chronic condition. Moreover, there are currently close to 121,000 people in need of kidney transplants in the United States.
Furthermore, in the US, the prevalence of diseases, including cancer and cardiovascular conditions is rising quickly. Nearly half of Americans, including those with hypertension, coronary heart disease, etc., had some form of cardiovascular disease, according to data from the American Heart Association that was released in January 2019. These illnesses usually necessitate procedures such as angioplasty, bypass, and so on, which helps to fuel the market for anesthetic devices rising demand. Additionally, according to GLOBOCON 2020, there were 612,390 fatalities and 2,281,658 new cancer cases reported in the United States in 2020. The increasing incidence of cancer cases suggests the need for more cancer-related surgeries and cancer services which are estimated to raise the need for anesthetic equipment in the area. Hence, it is predicted to surge the growth of the market in the region.
Philips and B. Braun announced the FDA approval for Onvision. It is an innovative ultrasound guidance setup for keeping track of needle tips.
GE Healthcare received the FDA clearance for the breakthrough software that enables the automation of anesthesia delivery and the reduction of greenhouse gas emissions during surgery.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Rising prevalence of chronic disease, rise in the surgical procedures being carried out, rise in the geriatric population, and innovation in the anesthesia devices system, are the few factors expected to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2023 – 2035
Ans: The side effects caused by anesthesia, the high cost of the machines, and the unethical sale of anesthesia are the factors that are likely to hamper the market growth.
Ans: The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are B.Braun Melsungen AG, Drägerwerk AG & Co. KGaA, General Electric Company, Koninklijke Philips N.V., Schiller AG, Criticare Systems, Inc., HEYER Medical AG, Infinium Medical, Inc., General Meditech, Inc. and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product type, end-user, and by region.
Ans: The hospital segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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