United States Anesthesia Devices Market Size

United States Anesthesia Devices Market Analysis

The United States Anesthesia Devices Market size is estimated at USD 5.64 billion in 2024, and is expected to reach USD 7.95 billion by 2029, growing at a CAGR of 7.10% during the forecast period (2024-2029).

COVID-19 had a profound impact on the anesthesia market owing to the cancellations of anesthesia procedures in the beginning due to the suspension of surgical procedures in the country. The use of inhalation anesthetics for sedation during longer-term breathing with anesthesia machines has increased in hospitals. COVID-19 has a wide range of effects on surgical procedures, including labor force and staffing difficulties, procedural prioritizing, and intraoperative viral transmission risk. Due to the high number of cases of COVID-19 in the early stages of the pandemic, all hospitals around the world canceled all scheduled and elective procedures. Acute surgical emergencies were still unavoidable, but they were dealt with in a timely and prudent manner. However, the market is recovering from the last two years since the restrictions have been lifted and are expected to show a stable growth rate during the forecast period.

In addition, the technological advancements in anesthesia, the increasing geriatric population and a growing number of surgeries, and a significant patient pool of patients with chronic diseases are actively affecting the growth of the studied market.

Owing to the high prevalence of diseases, this country has become the hub of the major players. According to the American Heart Association's Heart & Stroke Statistics 2022 Update, more than 356,000 out-of-hospital cardiac arrests (OHCA) are reported every year in the United States, with over 90% of these being fatal. The annual incidence of non-traumatic OHCA is estimated to be 356,461, or about 1,000 people each day. This will lead to increased adoption of anesthesia devices required during emergency surgery necessary after cardiac arrest, thereby contributing to the growth of the market.

The increasing occurrence of heart disease causes a burden on the healthcare system of the country. The rise in the occurrence of chronic cardiovascular diseases like heart failure and coronary artery disease, along with the increasing geriatric population, is one of the key factors which is expected to fuel the market growth. For instance, as per the report published in April 2021, about 16.5% of the United States population, or 54 million, are aged over the age of 65 in 2020. The number is expected to reach 74 million by 2030. The number of people over the age of 85, who are at risk of developing heart disease in the country, is expected to increase significantly. Such an increase in the elderly population leads to the rising demand for anesthesia devices, thereby contributing to the growth of the market.

Therefore, owing to the aforementioned factors, such as technological advancement and growing demand for anesthesia devices, the studied market is anticipated to witness growth over the analysis period. However, the high cost of equipment and difficulties associated with the usage of anesthesia devices is likely to impede the market growth.