The global depth of anesthesia monitoring devices market size was valued at US$ 260 Mn in 2019 and expected to reach US$ 401 million by 2030 expanding at a CAGR of 5.2% from 2021 to 2030. The global depth of anesthesia monitoring devices market is driven by rise in the number of surgical procedures and increase in the global geriatric population with major chronic diseases.
Depth of anesthesia can be defined as the degree to which the central nervous system (CNS) is depressed by the administration of general anesthetic agent based on the potency of the anesthetic agent and its concentration. The depth of anesthesia refers to a continuum of progressive depression of CNS and reduced responsiveness to stimulation. Different types of technologies are used to monitor depth of anesthesia, including bispectral index, entropy, and patient state index (PSI).
North America dominated the global depth of anesthesia monitoring devices market in 2019. The trend is anticipated to continue during the forecast period. Highly structured healthcare industry, early new product adoption, high prevalence rate of major chronic diseases, and presence of major players are expected to propel the depth of anesthesia monitoring devices market in North America. Asia Pacific is likely to be a highly lucrative market for depth of anesthesia monitoring devices during the forecast period. The market in the region is projected to expand at a high CAGR from 2020 to 2030.
Rise in Number of Surgical Procedures and Increase in Global Geriatric Population with Major Chronic Diseases to Drive Market
The rise in number of surgeries, especially plastic and reconstructive surgeries, has led to the demand for depth of anesthesia monitoring devices. According to statistics provided by the International Society of Plastic and Aesthetic Surgeons (ISAPS), over 1.8 million cosmetic surgeries were performed across the globe in 2020. According to the American Society of Plastic Surgeons (ASPS), over 28,076 buttock augmentation and 299,715 breast augmentation surgeries were performed in the U.S. alone in 2019. Continuous increase in the geriatric population is anticipated to be a potential driver of the global depth of anesthesia monitoring devices market during the forecast period. The geriatric population is at high risk of major chronic diseases, which require surgical procedures. According to the U.S. Department of Health & Human Product estimates, the U.S. will have about 72.1 million geriatric population by 2030, which is more than twice the number in 2000.
Interprofessional Team Approach Helps Overcome Shortcomings of Artifacts in Outcomes
Bispectral index (BIS) has exhibited a positive cost-benefit ratio and lower morbidity than most invasive monitoring methods. However, it has been found that interference from medical devices causes artifacts, which impair the ability of BIS monitors to assess changes in the depth of anesthesia accurately. Hence, manufacturers in the depth of anesthesia monitoring devices market are becoming aware about the interprofessional team approach that involves participation of surgeons, nurse anesthetists, and other support staff, which ensure best possible patient outcomes.
The depth of anesthesia monitoring devices market is projected to cross the value mark of US$ 400 Mn by the end of 2030. Favorable market drivers such as the emergence of real-time depth of anesthesia monitoring systems, with the help of deep neural network technology, is aiding in market expansion.
Improving Anesthetic Gas Delivery with Very Low Concentrations Aids in Fast Recovery
Companies in the depth of anesthesia monitoring devices market are focusing on improving the anesthetic gas delivery to address cumulative requirements of increased patient safety and flexibility in patient care. Manufacturers are making anesthetic delivery more efficient by minimizing the use of anesthetic agents whilst maintaining optimal sedation for patients. As such, innovations in sub systems such as vaporizers, ventilators, circle absorbers, and the likes are supporting efficiency in anesthetic delivery. This has led to the concept of anesthesia workstation in the depth of anesthesia monitoring devices market.
Anesthesia workstation helps clinicians to provide comprehensive care to patients. Moreover, the evolution of the mechanical ventilation technology is contributing toward better gas delivery during complex lung conditions. Healthcare professionals are increasing efforts to maintain lowest mean airway pressure to reduce complications of volutrauma and baratrauma. The evolved technology in vaporizers ensures lowest possible concentrations of anesthetic agents and helps patients to recover fast after surgery.
Customizing Anesthetic Delivery with BIS Monitoring Improves Turnaround Time in ICUs
Advanced technologies hold promising potentials in patient monitoring. Innovations in neuro-muscular transmission (NMT) and anesthesia gas module (AGM) are creating revenue opportunities for device manufacturers in the depth of anesthesia monitoring devices market. Companies are bolstering their credibility credentials by adhering to regulatory norms in order to define a spectrum that can be used universally to monitor and maintain an adequate depth of anesthesia during surgeries. As such, BIS monitoring is being considered as the gold standard for customizing anesthetic delivery and significantly reduce the concentration of anesthetic agents compared to traditional methods.
Companies in the depth of anesthesia monitoring devices market are increasing efforts to facilitate better turnaround time of patients in intensive care units (ICUs) and post-surgery. Low anesthetic concentrations are also associated with reduced environmental footprint, owing to concerns regarding climate change.
Bispectral Index to Dominate Depth of Anesthesia Monitoring Devices Market
In terms of technology, the global depth of anesthesia monitoring devices market has been divided into bispectral index, entropy, patient state index (PSI), and others. The bispectral index segment dominated the global depth of anesthesia monitoring devices market in 2020. This trend is expected to continue during the forecast period. Anesthesia monitoring with bispectral index can be justified as it reduces the recovery time after waking, primarily by reducing the administration of general anesthetics as well as the risk of adverse events. These factors are likely to drive the segment during the forecast period. Entropy was the second largest segment in terms of market share in 2020. The growth of the segment can be attributed to launch of new products by leading players.
Modules to Offer Lucrative Opportunities
In terms of device type, the global depth of anesthesia monitoring devices market has been categorized into modules, bundled devices, and standalone devices. The modules segment accounted for a prominent share of the global depth of anesthesia monitoring devices market in 2020, as modules can be integrated into different DOA devices, which has resulted in their widespread use in different clinical settings, and major market players such as GE Healthcare, Philips, Mindray, and Spacelabs are providing innovative module products.
Hospitals Emerge as Major End User
In terms of end user, the global depth of anesthesia monitoring devices market has been classified into hospitals and clinics & ambulatory surgical centers. The hospitals segment led the global depth of anesthesia monitoring devices market in terms of revenue in 2020. The trend is expected to continue during the forecast period. Hospitals are an important channel for usage of depth of anesthesia monitoring devices. The rise in the number of hospitals in countries such as India and China is projected to increase the demand for depth of anesthesia monitoring devices. The growth of the segment can be attributed to the increase in the number of surgeries and hospital facilities across the world
North America to Dominate Depth of Anesthesia Monitoring Devices Market
In terms of region, the global depth of anesthesia monitoring devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global depth of anesthesia monitoring devices market in 2020, followed by Europe. North America’s large market share can be ascribed to increase in the number of people with major chronic diseases, new product launches, and presence of major players in the region. The depth of anesthesia monitoring devices market in Asia Pacific is anticipated to expand at a high CAGR from 2021 to 2030. This can be attributed to the presence of developing countries with commercial hubs, expanding business organizations, rise in awareness about depth of monitoring devices, improving healthcare infrastructure, and increase in investments by companies in their technical aspects.
The global depth of anesthesia monitoring devices market is fragmented in terms of number of players. Key players operating in the global market include Medtronic plc, GE Healthcare (General Electric Company), Nihon Kohden Corporation, Koninklijke Philips N.V., Spacelabs Healthcare (OSI Systems, Inc.), Masimo and Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
By Device Type
By End User
The Depth of anesthesia monitoring devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Depth of anesthesia monitoring devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Depth of anesthesia monitoring devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Depth of anesthesia monitoring devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Depth of anesthesia monitoring devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Depth of anesthesia monitoring devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Depth of anesthesia monitoring devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Depth of anesthesia monitoring devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Depth of anesthesia monitoring devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Depth of anesthesia monitoring devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Depth of anesthesia monitoring devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Depth of anesthesia monitoring devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Depth of anesthesia monitoring devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Depth of anesthesia monitoring devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Depth of anesthesia monitoring devices market. These factors have benefited the growth of the global market for Depth of anesthesia monitoring devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Depth of anesthesia monitoring devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Depth of anesthesia monitoring devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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