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Cranfield, UK, August 2023 – The global anaesthesia device market reached $1 billion in 2022 and is forecast to reach $1.3 billion by 2027. Signify Research’s recently published report on the Anaesthesia Devices market dives into the product and regional trends that are currently impacting the market. This article provides a brief snapshot of some of these major trends. A more detailed analysis can be found in the full report.
The pandemic highlighted key issues surrounding limited staff resource and care provision that led to the stifling of the anaesthesia market. Component supply issues and longer replacement cycles further contributed to the unforeseen decline of the anaesthesia market in 2021, as hospitals delayed new purchases to reduce costs, and chip shortages limited device manufacture and production. Fast-forward to the present day, and the market has now restabilised and continued growth is projected. A influx of new product and regional trends are now shifting market dynamics driving a new level of product innovation and development. Demand for digital solutions that provide clinical decision and analytic support has grown globally, as clinicians and nurses more than ever require additional support and patient-personalised metrics. There has been a sparked interest in additional digital features across all product levels, with many low-end solutions now able to be connected to wider digital platforms. Signify Research projects the global anaesthesia device market will increase at a CAGR of 4.6% from 2022 to 2027, with sub-regional revenue analysis detailed in the figure below.
The Americas
The Americas was estimated to be the second largest anaesthesia market in 2022, demoted by the Asia Pacific region.
The ambulatory surgical centre market saw the fastest growth in 2022 on a global basis, led by the US who experienced an upsurge in the utilisation of ambulatory surgical centres. This uplift in demand is projected to continue as the ambulatory surgical market grows to accommodate the patient backlog brought on by the pandemic and alleviate the workload burden currently placed on clinicians and nurses. This is projected to further drive demand for mid-range solutions to take on elective and less urgent surgeries. North America is projected to see the fastest growth in the ambulatory surgical space, followed by Western Europe and the Mature Asia Pacific. The development of anaesthesia care in ambulatory surgical centres in the EEMEA and the Emerging Asia Pacific regions remains behind more mature regions. The drive towards different care settings, however, is expected to spread globally as emerging regions recognise the benefits provided.
Digitalisation and innovation are being prioritised in the American anaesthesia market; however, regulatory restrictions continue to limit the adoption of new solutions. Regulatory requirements necessary for FDA approval have stifled the uptake of beneficial solutions and thus limited vendor sales and profit margins. Staffing and resource limitations have proven to inhibit the uptake and implementation of new solutions as many hospitals and healthcare facilities cannot meet the mandated training hours required to use these devices. Despite an ever-growing demand for digitally advanced devices, regulatory and purchasing constraints remain a roadblock for many solutions, including GE HealthCare’s end tidal control software that has seen limited adoption since its release. More information on this trend can be found in Signify Research’s insight on automation in anaesthesia.
In Latin America, budgetary constraints have led to customers favouring more affordable solutions. As demand for lower-cost anaesthesia devices rise, more customers are looking for low cost, high functionality devices, blurring the lines in device segmentation.
EMEA
Interest in sustainability and environmental awareness has been steadily growing in Western Europe, as customers and hospitals increasingly demand devices that can provide environmental impact analysis and limit anaesthesia gas release through low and minimal flow and gas capture techniques. As discussed in a previous insight, solutions such as SageTech Medical’s SID-Dock anaesthesia gas capture are being distributed through partnerships with major vendors such as Draeger Medical to the NHS Supply Chains. Beyond the UK, many European countries have implemented sustainability initiatives that are driving demand for stricter legislation, with the hope to promote the use of digital solutions that provide insights to track anaesthesia gas release and carbon emissions. The EMEA anaesthesia market is projected to grow as demand for high-end and premium solutions take precedence. Similar to the US, demand for advanced solutions is increasing in line with the need for clinical decision and operational workflow support. However, regulatory obstacles have negatively impacted the EU market as vendors streamline their portfolios to bear the costs of stricter compliance with MDR regulations. The anaesthesia market within Europe is likely to further consolidate as smaller vendors prioritise the penetration of other non-EU countries in the EMEA region.
Asia Pacific
The Asia Pacific market was estimated to be the largest of all regions in 2022, with a market size of just under $400 million. Local-made initiatives have resulted in an upsurge in demand of domestic Asian vendors, particularly in the low-end and mid-range device markets. Purchasers in India and China have changed their attitudes towards locally manufactured solutions, with emerging domestic vendors continuing to tap into their regional markets.
Many regions in the Asia Pacific have invested heavily into their healthcare infrastructure to tackle the increasing needs of their ageing and growing populations. As more hospitals with specialist ICU facilities are built, the ability to cater for a wider number and more complex surgical procedures is expected to follow. As such, demand for more advanced anaesthesia devices with improved patient data integration is expected. Despite this growth, an increased acceptance for lower-cost solutions is projected to steadily drive prices down and intensify competition between vendors.
Related Research
Signify Research has recently published its “Anaesthesia Devices – World – 2023” report, which builds on its 2021 edition of the report. The report provides a data-centric and global outlook of the market and blends primary data collected from in-depth interviews with healthcare professionals and technology vendors to provide a balanced and objective view of the market.
About Tosin Alex-Duduyemi
Tosin joined Signify Research in 2022 as a Market Analyst within the Clinical Care team. She holds a bachelor’s degree in Biological Sciences from the University of Birmingham & has prior experience working in primary and secondary education.
About the Clinical Care Team
The clinical care team provides market intelligence and detailed insights on the clinical care equipment and IT markets. Our areas of coverage include patient monitoring, diagnostic cardiology, infusion pumps, ventilators, anaesthesia devices, and high-acuity IT. Our reports provide a data-centric and global outlook of each market with granular country-level insights. Our research process blends primary data collected from in-depth interviews with healthcare professionals and technology vendors, to provide a balanced and objective view of the market.
About Signify Research
Signify Research provides healthtech market intelligence powered by data that you can trust. We blend insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to us by leading vendors to provide a complete and balanced view of the market trends. Our coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences and Healthcare IT.
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