SEATTLE, March 19, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global anesthesia device market was valued at US$ 10,571.6 million in 2017, and is projected to exhibit a CAGR of 7.3% during the forecast period (2018 – 2026).
Key Trends and Analysis of the Anesthesia Device Market:
Increasing product launches is expected to drive growth of the anesthesia device market. For instance, in June 2018, Getinge AB launched Flow-c anaesthesia machine. The Flow-c anesthesia machine offers superior ventilation performance for all patient categories. The working of Flow-c anesthesia machine is based on Servo-I ventilator platform and FLOW-i C20 anesthesia machine. Moreover, in October 2013, Philips Healthcare launched IntelliSave AX700 anesthesia machine as well as the IntelliVue MX400 and MX450 patient monitors. IntelliSave AX700 anesthesia machine feature a touch screen-based user interface and electronic gas mixing for precision control and display of gas mixtures.
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In November 2018, Septodont Inc. launched Dentapen electronic syringe for dental anesthesia. The Dentapen monitors the injection with a constant flow at the right pace. This helps the dentist to focus more on needle insertion and offers better control of the injection and reduces pain in patients. Furthermore, in March 2014, Midmark Animal Health launched new Cardell Touch Anesthesia Monitor for veterinary care at the Western Veterinary Dental Conference in Las Vegas. Cardell Touch Anesthesia Monitor comprises veterinary-specific algorithms and exclusive Cardell Blood Pressure Technology.
Moreover, increasing number of surgeries ranging from highly invasive surgeries such as open-heart surgery to minor procedures such as tooth extraction that require anaesthesia is expected to boost the anesthesia device market growth. For instance, in 2018, the Society of Thoracic Surgeons published the updated overview of the Adult Cardiac Surgery Database (ACSD). According to Society of Thoracic Surgeons (STS), over 95% of the adult cardiac operations performed annually in the U.S., cardiac surgery is the most common surgery, which requires general anesthesia during surgery.
Among regions, North America anesthesia device market is expected to account for the largest market share, owing to presence of large number of ambulatory surgical centers (ASCs) and hospital inpatient settings in this region. For instance, in 2017, according to Becker’s ASC Review, there were 5,480 Medicare-certified ASCs and 5,564 registered hospitals in the U.S.
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Key Market Takeaways:
- The global anesthesia device market is projected to witness a CAGR of 7.3% during the forecast period (2018 – 2026), owing to increasing number of research involved in use of anesthesia devices
- Among regions, Europe is expected to witness significant growth in the anesthesia device market, owing to presence of major player such as Medtronic plc, Getinge AB, and Draegerwerk AG & Co. KGaA. For instance, in November 2012, Covidien — a minimally-invasive therapies division of Medtronic plc. — announced that UK-based National Institute for Health and Clinical Excellence (NICE) has approved the use of its electroencephalography (EEG)-based monitors — Bispectral Index (BIS) monitor -- as an option for measuring depth of anesthesia.
- Major players operating in the global anesthesia device market include, GE Healthcare, Spacelabs Healthcare., Septodont Inc., Draegerwerk AG & Co. KGaA, Beijing Aeonmed Co., Ltd., HEYER Medical AG, ORICARE, Inc, Philips Healthcare, Becton Dickinson and Company, and Getinge AB
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