The global anesthesia gas monitoring devices marketis expected grow at a CAGR of above 11% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the globalanesthesia gas monitoring devicesmarketfor 2016-2020. The market is further categorized into two product segments, including integrated anesthesia gas monitoring devices and stand-alone anesthesia gas monitoring devices, of which the integrated anesthesia gas monitoring devices segment dominated the market with almost 89% of the overall market share in 2015.
“It is estimated that the sales of anesthesia gas monitoring devices will increase significantly during the forecast period. This is due to the rise in the number of surgeries across various therapeutics including oncology, cardiovascular, respiratory, orthopedic, and neurology,” says Srinivas Sashidhar, a lead orthopedics and medical devicesresearch expert from Technavio.
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Technavio’s research study segments the global anesthesia gas monitoring devices market into the following regions:
In 2015, with a market share of over 43%, the Americas dominated the global anesthesia gas monitoring devices market, followed by EMEA with over 32% and the APAC with above 24%.
Americas: largest market for anesthesia gas monitoring devices
The anesthesia gasmonitoring devices market in the Americas is growing due to increasing number of surgical procedures and hospital admissions. The US accounted for the majority share of the market in this region. Government awareness programs for medical safety have played a huge role in the market. Government advisories such as Pennsylvania Patient Safety Advisory in the US provide awareness about individual safety measures, a few of which are related to anesthesia.
The anesthesia gas monitoring devices market in the Americas is growing due to increasing number of surgical procedures and hospital admissions. The US accounted for the majority share of the market in this region. Government awareness programs for medical safety have played a huge role in the market. Government advisories such as Pennsylvania Patient Safety Advisory in the US provide awareness about individual safety measures, a few of which are related to anesthesia.
High adoption of integrated anesthesia gas monitors fueling the faucet market in EMEA
The Tier 1 and Tier 2 vendors such as GE Healthcare and Penlon have a wide distribution networks in Europe. These vendors offer a broad range of anesthesia gas monitoring devices for use during surgeries. Growing number of clinical symposiums will help to train the physicians about the integrated anesthesia gas monitoring devices such as MRI-compatible anesthesia gas monitors and stand-alone monitors, which can be integrated with other devices for patient benefit.
“In May 2016, experts of GE Healthcare presented about application of anesthesia devices in neonatal and pediatric ventilation in a clinical symposium held in the Netherlands,” adds Srinivas.
The anesthesia gas monitors market in EMEA is expected to grow at a steady pace during the forecast period. The market is fueled by an increase in the geriatric population as well as technological advancements in this region. These are also the primary reasons for the high adoption of integrated anesthesia gas monitors, which led to increased sales. The increasing number of surgical procedures and the presence of many vendors in EMEA have also played a significant role in increasing the demand for these monitors in the market.
APAC to post a CAGR of over 12% during the period 2016-2020
The anesthesia gas monitoring devices market in APAC is expected to witness rapid growth during the forecast period. The increasing number of surgical procedures in emerging countries is expected to contribute to the growth of the market. A rise in older population, improvements in healthcare infrastructure, and growing demand for more affordable medical treatment are the significant growth drivers of the market. Global vendors in APAC are facing a threat from local manufacturers such as Beijing Siriusmed Medical Device that offer low-cost products.
In developing countries, such as China, India, and Thailand, the market is witnessing rapid growth in the anesthesia gas monitoring devices market. The healthcare infrastructure, government policies, and funding for specialty hospitals led the market growth in these countries. To increase the market share, the manufacturers are focusing on distributors in this region.
The top vendors in the global anesthesia gas monitoring devices market highlighted in the report are:
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Last updated on: 08/11/2016
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