Market Research Future (MRFR) touts the Anesthesia Machine Market to touch a whopping USD 14.75 billion by 2027. The market will achieve a 7.8% CAGR during the evaluation timeline, which is from 2020 to 2027.
Growth Boosters and Challenges
The anesthesia machine industry should remain lucrative throughout the analysis period, backed by the support of various government bodies and the soaring number of initiatives encouraging surgical procedures. The latest trend in the worldwide market includes the heightened surging preference for minimally invasive procedures, which fosters the need for highly advanced anesthesia machines and other surgical devices.
Minimally invasive surgeries are largely preferred as these involve tinier incisions, reduced hospital stay, faster healing, lesser wounds and pain and lesser risk of complications compared to open surgeries. These also help control the monumental healthcare costs and are therefore, are witnessing a rapid increase in demand worldwide.
The demand for anesthesia machines is further fostered by the rising availability of medical insurance along with favorable medical reimbursement schemes. Rise in lifestyle-based ailments, accidents and sports injuries raise the number of surgeries, which in turn raise the market demand.
Different types studied in the report are intermittent anaesthesia machines, continuous anaesthesia machines, and more.
Depending on clinical indications, major segments are eye, ear and nasal surgeries, nervous system surgeries, cardiovascular system surgeries, respiratory system surgeries, urinary system surgeries, digestive system surgeries, skin system surgeries, musculoskeletal system surgeries, and more.
The components listed in the market study are disposables, machines, monitors, ventilators, and others.
With respect to subject, key segments can be human as well as veterinary.
Dimension-based segments are portable anaesthesia machines along with stand-alone anesthesia machines.
Top end users in the worldwide market are the point of care, hospitals, and others.
Strong presence of established manufacturers and the soaring number of surgeries have landed North America at the highest position in the worldwide market. The product demand has been escalating rapidly in the region, backed by the rise in government funding, training sessions offered to physicians and surgeons and surging access to the latest devices. Reimbursement policies are favorable for the North American market as well. The considerable healthcare spending in the United States as well as Canada helps bolster the demand for anesthesia machines with a variety of features.
Asia Pacific could be one of the most bankable markets in the next few years, as healthcare spending continues to surge, while players are mostly focused on boosting their business standings. Government efforts as well as huge investments in advanced anesthesia machines for use in surgeries and training sessions could elevate the market position even more.
The Middle East and Africa has the potential to be a major market for anesthesia machines in the ensuing years, as number of surgical continues to increase. The massive pool of manufacturers trying to bolster their production capacity to cater to the escalating demand, and the low manufacturing costs encourages business growth as well.
Some of the major Anesthesia Machine Cost developers highlighted in the extensive report are Mindray DS USA Inc., Smiths Medical, Draeger, GE Healthcare, Heyer Medical AG, Koninklijke Philips N.V, Covidien, Fisher & Paykel Healthcare, Teleflex Inc., to name a few.
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