Anesthesia Equipment Market worth $11.0 billion by 2028
Anesthesia Equipment Market in terms of revenue was estimated to be worth $8.0 billion in 2023 and is poised to reach $11.0 billion by 2028, growing at a CAGR of 6.7% from 2023 to 2028 according to a new report by MarketsandMarkets™. Growth in this market can primarily be attributed to the growing number of surgeries owing to the prevalence of various diseases. Anesthesia plays a key role, since every patient that undergoes surgery is anesthetized to manage the pain during the course of surgery. The major surgical procedures performed globally are orthopedics, cardiology, and neurology, owing to the high prevalence of these medical conditions. Such a high number of surgical procedures are expected to propel growth of the global anesthesia devices market.
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Anesthesia devices accounted for the largest share of the anesthesia equipment market.
Based on the type, the anesthesia equipment market is segmented into anesthesia devices and anesthesia disposables. In 2022, anesthesia devices hold the major share of anesthesia equipment market. The large share of the anesthesia devices segment can be attributed to the rising focus on patient safety, growing geriatric population and expansion of healthcare infrastructure.
The hospitals segment accounted for the largest share of the anesthesia equipment market.
Based on the end user, the anesthesia equipment market is segmented into hospitals, clinics, ambulatory surgical centers, and other end users. In 2022, the large share of the hospitals segment can be attributed to the growing investments in healthcare sector. Many private enterprises are taking steps to cater to the needs of modern and well-equipped state-run healthcare facilities in key regions. The private hospital sector is expected to maintain higher growth over the coming years owing to regulatory changes, market demand, and capital investments.
North America segment accounted for the largest share of the anesthesia equipment market.
The global anesthesia equipment market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America segment accounted for the largest share of the anesthesia equipment market. The large share of North America in the global market is attributed to the high investments by hospitals, strong focus on research activities to improve surgical techniques.
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Anesthesia Equipment Market Dynamics:
Drivers:
- Rising prevalence of chronic disorders
Restraints:
- Unfavorable reimbursement scenario
Opportunities:
- High growth in developing countries
Challenges:
- Hospital budget cuts
Key Market Players:
The major players in the anesthesia equipment market include GE Healthcare (US), Dragerwerk Ag & Co. KGAA (Germany), Koninklijke Philips N.V. (Netherlands), Ambu AS (Denmark), Medline Industries Inc. (US).
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Recent Developments:
- In April 2022, GE Healthcare received the FDA pre-market approval (PMA) for its End-tidal (Et) Control software for general anesthesia delivery on its Aisys CS2Anesthesia Delivery System.
- In May 2022, Fisher & Paykel Healthcare expands offering in anesthesia with the release of the Optiflow Switch and Optiflow Trace.
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