The Global Anesthesia Devices market was valued at USD 7.78 billion in 2016 and is projected to reach USD 13.50 billion by 2021, at a CAGR of 11.64% during the forecast period from 2016 to 2021. This market has witnessed an excellent growth in the recent times. This growth is expected to increase accordingly in the near future as well.
The Global anesthetic device market is basically segmented into two categories, namely, anesthesia devices and geography. The anesthesia devices can be divided into different segments, which are based on the type of instrument. These instruments include anesthesia monitors, anesthesia machines, anesthesia masks, anesthesia accessories. On the basis of geography, the market has been segmented into North America (U.S., Canada, Mexico), Europe (U.K., Germany, France, Spain), Asia-Pacific (India, China, Japan, South Korea), and the Rest of the World (Brazil).
Continuous growth in this market can be attributed to the rapid adoption of anesthesia information management systems (AIMS), which have been implemented in an effort to move the industry away from the paper-based record keeping systems to more efficient electronic solutions. The establishment of several government-supported national statistical databases is driving this market as well. The demand is also rapidly increasing with the growing safety awareness and technology enhancements in anesthesia machines. The low flow anesthesia and electronic medical records dominate the current global anesthesia market technology, which indirectly leads to lesser significant savings across the healthcare industry.
However, the rapid advancements in the anesthesia industry make it increasingly difficult for the anesthesiologist to keep up with the various anesthesia machine technologies. Additionally, the latest anesthesia technology does not come at a low price, and even the most basic configuration of the equipment can cost a fortune. The decrease in reimbursements provided by governments for medical equipment, and increased availability of aftermarket service that prolongs the life of a facility's existing equipment are also the challenges involved that this market may have to face with respect to its growth.
From a geographical point of view, North America has the highest market share followed by Europe. The North American market share is as high as 34.0%. Recent economic advances in emerging markets have become a comparative threat to the developed nations market. The reason for this can be attributed to the higher per capita income of the North American population and the rapidly rising patient population in this region. Following North America is Europe with the second biggest market share at 29.0%. Recent trends show that emerging countries will show a greater growth in the market share in the near future, due to the increasing per capita income in emerging nations and the rapidly rising patient population in these regions as well.
The major players in this market are 3M, Airsep Corporation, AstraZeneca, Bomimed, Carefusion, Johnson & Johnson, Phillips Healthcare, GE Healthcare, and GSK among others.
Key Deliverables in the Report:
- Global, regional and country-level analysis along with forecasts of the study market
- Study of the effect of exogenous & endogenous factors, viz. demographic, economics, and political factors, among others, which affect the global market
- Porter’s Five Forces framework incorporating the factors influencing each force to determine the intensity of competition
- Segment and sub-segment level analysis of the market over the review and forecast period
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities and gaining competitive edge
- SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators