Anesthesia Machines Market Expected to Deliver Dynamic Progression until 2022
A recent study conducted by Fact.MR reveals that the global market for anesthesia machines is set to reflect a CAGR of 5.4% between 2017 and 2022. Increasing medical tourism, an augmenting number of surgical procedures and rising healthcare spending are some of the primary factors expected to remain instrumental to the growth of the market.
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Today, anesthesia machines are being increasingly incorporated in healthcare systems as they are seen as a key medical apparatus. These machines are also proving to be extremely helpful in ambulatory units and nursing homes. Mostly, professionals with expertise or sufficient knowledge of anesthesiology are certified to operate and handle anesthesia machines. The advance version of the machines offer higher patient convenience and safety. Anesthesia machine and the technology behind it has constantly evolved over the years. The machines used today, are completely different from the conventional versions that were based on pneumatic systems. With the rise in the global population, the occurrences of invasive surgeries have also escalated. Factor as such are expected to support the growth of the global market for anesthesia in years to come. In addition, innovation in technology is encouraging its adoption in the healthcare sector as they become more effective. Most anesthesia machines currently come with leading-edge continuous-flow anaesthetic system that is designed to regulate a precise and continuous supply of anesthetic gases to the patient. The contemporary machines are incorporated with suction unit, patient monitoring devices, and ventilators.
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Following takeaways from Fact.MR’s Forecast on the global market for anesthesia machines will play a significant role in market’s future development
- Increase occurrence of chronic ailments such as cancer, high cholesterol and diabetes coupled with the expanding pool of the geriatric population is projected to propel the overall growth of the market.
- The anesthesia machines market in North America currently accounts for the global market. In addition, North America is expected to remain one of the most attractive market for anesthesia machines over 2022 and reflect a CAGR of over 5%. This is owing to rapid adoption of cutting-edge medical care technologies in the region.
- Demand for anesthetic machines in Asia Pacific excluding Japan (APEJ) is also projected to surge at a significant rate during the forecast period. Growing disposable income and rising healthcare awareness among consumers is playing a crucial role in adoption of the anesthesia machines in the hospitals and clinics in the region.
Based on modality, the standalone segment currently commands for close to 56% market share in terms of revenue. Towards the end of 2022, this segment is estimated to reach a market valuation in excess of US$ 7,081 Mn. Meanwhile, the portable segment is also likely to witness an impressive CAGR between 2017 and 2022.
General Electric Company, Spacelabs Healthcare, Shenzhen Comen Medical Instruments Co. Ltd., DRE Medical, Midmark Corporation, Heyer Medical AG, Infinium Medical Inc, Koninklijke Philips N.V., Dragerwerk AG, Shenzhen Comen Medical Instruments Co. Ltd., and Dameca A/S. are among the prominent companies mentioned in the report.