Increasing Number of Surgical Procedures to Augment the Anesthesia Monitoring Devices Market Growth

 

Anesthesia is used to induce unconsciousness during a surgery. Anesthesia monitoring devices are used during a surgical process to check a patient's response toward anesthesia, as well as to track vital signs such as patient temperature, blood pressure, and heart rate under sedation in the operation theater. Moreover, these devices help reduce the risk involved in anesthesia. The need for these devices depends on the type of surgery and it varies in every case. Anesthesia monitoring devices help monitor the dose of anesthesia and reduces the risks involved in anesthesia and surgery.

Market Dynamics:

Increasing number of surgical procedures due to increasing incidence or prevalence of chronic diseases, such as cardiovascular diseases and cancer, is expected to propel the growth of the anesthesia monitoring devices market. According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death worldwide, taking an estimated 17.9 million lives each year.

Moreover, increasing incidence of spinal disorders and the growing geriatric population is expected to augment the growth of the anesthesia monitoring devices market. According to the National Spinal Cord Injury Statistical Center, each year, around 17,700 new cases of spinal cord injury are diagnosed in the United States. In 2018, around 54 people in the U.S. (per one million) suffered from spinal cord injury.

Furthermore, the introduction of various new monitoring techniques, such as goal-directed fluid therapy, monitoring the depth of anesthesia, advanced neurological monitoring, and technological advancements are expected to drive the market growth. However, increase in product recalls and high cost of anesthesia monitoring devices is expected to restrain the anesthesia monitoring devices market growth.

Competitive Analysis:

Key players operating in the anesthesia monitoring devices market are Masimo, Heyer Medical AG, Criticare Systems, Inc., Schiller AG, Drägerwerk AG & Co. KGAA, Philips Healthcare, GE Healthcare, Covidien PLC (a subsidiary of Medtronic Plc.), Infinium Medical, Fukuda Denshi, Nihon Kohden Corporation, and Mindray Medical International Limited.

In March 2021, Masimo announced the CE marking of the Rad-G with Temperature, a rugged handheld device that provides clinically proven SET pulse oximetry, respiration rate from the pleth (RRp), and other important parameters alongside clinical-grade, non-contact infrared thermometry.

In February 2021, Masimo announced the U.S. introduction of softFlow, innovative pulmonary care therapy which provides nasal high-flow warmed and humidified respiratory gases to spontaneously breathing patients.

In February 2021, Milestone Scientific Inc. announced that it has begun selling its CompuFlo Epidural Instrument and related disposables to the University Hospital of Wurzburg, one of the leading national hospitals in Germany.