Anesthesia Monitoring Devices Market Forecast, Size by 2031

Anesthesia Monitoring Devices Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Basic Anesthesia Monitors, Integrated Anesthesia Workstations, and Advanced Anaesthesia Monitors), Advanced Anaesthesia Monitors (Depth of Anaesthesia Monitors, Anaesthesia Gas Monitors, and Standalone Capnograph Monitors), Technology (Bispectral Index (BIS), Auditory Evoked Potential (AEP), Patient State Index (PSI), Cortical Activity State Index (CSI), and Others), End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and Geography

Publication Month : Mar 2024

  • Report Code : TIPHE100001202
  • Category : Medical Device
  • Status : Data Released
  • No. of Pages : 150
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[Research Report] Anesthesia monitoring devices market value is projected to grow from US$ 2,553.36 million in 2023 to US$ 5,780.94 million by 2031; the market is anticipated to record a CAGR of 10.75% from 2023 to 2031

Market Insights and Analyst View:

During surgeries, anesthesia monitoring devices monitor the patient's reaction to anesthesia. Oxygenation, circulation, breathing, and temperature measurements can be used to track the effect of anesthesia. The need for anesthesia monitoring devices varies from case to case and is dependent on the kind of surgery being performed. Anesthesia administration and monitoring during surgical procedures is a sophisticated skill that requires much training and experience. Anesthesia monitoring devices assist anesthesiologists in monitoring anesthesia dosage; additionally, good patient monitoring lowers the risks associated with both anesthesia and surgery.

The key factors driving the anesthesia monitoring devices market growth are the introduction of various new monitoring techniques, such as monitoring the depth of anesthesia, goal-directed fluid therapy, advanced neurological monitoring, improved alarm system, and technological advancements in objective pain assessment. Significant progress has been made in clinical practice development and clinical monitoring technology in the last few years. Anesthesia monitoring devices trends include the rapid digitalization of anesthesia monitoring devices.

Growth Drivers and Challenges:

Increasing Number of Surgeries is Driving Anesthesia Monitoring Devices Market

The rise in the number of surgeries significantly influences the anesthesia monitoring devices market size, driving demand for advanced monitoring technologies and solutions. The Lancet Commission on Global Surgery (LCoGS) highlighted that between 28% and 32% of the world's disease burden requires surgical care, anesthetic management, or both. The report "Global Surgery 2030 Evidence and Solutions for Achieving Health, Welfare, and Economic Development" indicates that 5 billion people worldwide lack access to safe, affordable surgical and anesthetic care when needed. An estimated 16.9 million deaths are attributed to surgical implications annually. Furthermore, the NCBI reports that 310 million surgical procedures are carried out yearly, around 20 million in Europe and 40–50 million in the US. Anesthesia monitoring devices ensure patient safety, optimize anesthesia delivery, and monitor vital signs throughout surgical procedures. The growing emphasis on patient outcomes, anesthesia management efficiency, and adopting sophisticated monitoring equipment in operating rooms are key factors contributing to the market expansion.

On the other hand, the high cost associated with anesthesia monitoring devices poses a significant challenge that can limit market growth and adoption rates within the healthcare industry. The initial investment required for acquiring advanced monitoring devices and additional training, maintenance, and upgrades can present financial barriers for healthcare facilities, particularly those operating under constrained budgets or resource limitations. The substantial cost of anesthesia monitoring equipment can strain capital expenditures, impact return on investment considerations, and potentially delay or deter healthcare providers from investing in state-of-the-art monitoring technologies. Moreover, ongoing operational costs, such as sensor replacements, software updates, and calibration services, contribute to the total cost of ownership, influencing purchasing decisions and overall cost-effectiveness assessments for healthcare institutions. The high cost of anesthesia monitoring devices may also challenge market penetration in regions with limited healthcare infrastructure, underserved populations, or economic disparities, where affordability and accessibility of advanced medical technologies remain critical considerations. Thus, the high cost associated with these scanning devices hinders the anesthesia monitoring devices market growth.

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Anesthesia Monitoring Devices Market: Strategic Insights

anesthesia-monitoring-devices-market
Market Size Value inUS$ 2,553.36 million in 2023
Market Size Value byUS$ 5,780.94 million by 2031
Growth rateCAGR of 10.75% from 2023 to 2031
Forecast Period2023-2031
Base Year2023
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Report Segmentation and Scope:

The anesthesia monitoring devices market analysis has been carried out by considering the following segments: based on product, advanced anesthesia monitors, technology, and end user. Geographically, the anesthesia monitoring devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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Segmental Analysis:

Product-Based Insights

Based on product, the market is segmented into basic anesthesia monitors, integrated anesthesia workstations, and advanced anesthesia monitors. The advanced anesthesia monitors segment held the largest anesthesia monitoring devices market share in 2023 and is anticipated to register the highest CAGR during 2023–2031.

Advanced Anesthesia Monitor-Based Insights

Based on advanced anesthesia monitors, the anesthesia monitoring devices market is segmented into basic anesthesia monitors, integrated anesthesia workstations, and advanced anesthesia monitors. The depth of anesthesia monitors segment is anticipated to hold a significant share by 2031.

Technology-Based Insights

Based on technology, the market is classified into bispectral index, auditory evoked potential, patient state index, cortical activity state index, and others. The bispectral index (BIS) segment is anticipated to hold a significant share by 2031.

End User-Based Insights

In terms of end users, the market is categorized into hospitals, specialty clinics, and ambulatory surgical centers. In terms of end users, the hospitals segment held the largest anesthesia monitoring devices market share in 2023 and is anticipated to be registered the highest CAGR during 2023–2031.

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Regional Analysis:

The scope of the anesthesia monitoring devices market report encompasses North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America held the largest share of the anesthesia monitoring devices market in 2023, and it is projected to maintain its dominance (in terms of share) during the forecast period. The US holds the largest market share in North America and the world. Market growth in this country is ascribed to the increase in the prevalence of cancer and the increasing geriatric population. For instance, the American Cancer Society stated that there were around 608,570 cancer-related deaths were reported, and over 1.9 million new cancer diagnoses were performed in the US in 2021. Additionally, the increasing number of surgical procedures, technological advancements, the presence of powerful industry players, and an increasing focus on patient safety during anesthesia administration are among the major factors predicted to boost overall business. Other factors include growing awareness regarding remote patient monitoring devices for improved accuracy, portability, connectivity, and user-friendly interfaces.

Competitive Landscape and Key Companies:

The anesthesia monitoring devices market forecast presented in this report can help stakeholders in this marketplace plan their growth strategies. Mindray Medical International Limited; Drägerwerk AG; GE Healthcare; Koninklijke Philips N.V.; Schiller AG; Criticare Systems, Inc.; HEYER Medical AG; Infinium Medical, Inc.; Siare Engineering International Group S.r.l.; and Nihon Kohden Corporation are a few key companies profiled in the anesthesia monitoring devices market report. These companies focus on expanding their offerings to meet the growing consumer demand worldwide. Their global presence allows them to serve many customers, subsequently allowing them to expand their market presence.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, Advanced Anaesthesia Monitors, Technology, End User, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


Which product segment dominates the anesthesia monitoring devices market?

Based on product, the market is segmented into basic anesthesia monitors, integrated anesthesia workstations, and advanced anesthesia monitors. The advanced anaesthesia monitors segment held the largest anesthesia monitoring devices market share in 2023 and is anticipated to register the highest CAGR during 2023–2031.

Which advanced anesthesia monitors segment dominates the anesthesia monitoring devices market?

Based on advanced anesthesia monitors, the anesthesia monitoring devices market is segmented into basic anesthesia monitors, integrated anesthesia workstations, and advanced anesthesia monitors. The depth of anaesthesia monitors segment is anticipated to hold a significant share by 2031..

What was the estimated anesthesia monitoring devices market size in 2023?

The anesthesia monitoring devices market was valued at US$ 2,553.36 million in 2023.

What are the growth estimates for the anesthesia monitoring devices market till 2031?

The anesthesia monitoring devices market is expected to be valued at US$ 5,780.94 million in 2031.

Who are the major players in the anesthesia monitoring devices market?

The anesthesia monitoring devices market has major market players, including Mindray Medical International Limited; Drägerwerk AG; GE Healthcare; Koninklijke Philips N.V.; Schiller AG; Criticare Systems, Inc.; HEYER Medical AG; Infinium Medical, Inc.; Siare Engineering International Group S.r.l.; and Nihon Kohden Corporation.

What factors drive the anesthesia monitoring devices market?

The key factors driving the anesthesia monitoring devices market growth are the introduction of various new monitoring techniques, such as monitoring the depth of anesthesia, goal-directed fluid therapy, advanced neurological monitoring, improved alarm system, and technological advancements in objective pain assessment. Significant progress has been made in clinical practice development and clinical monitoring technology in the last few years. Anesthesia monitoring devices trends include the rapid digitalization of anesthesia monitoring devices.

What is anesthesia monitoring devices?

During surgeries, anesthesia monitoring devices monitor the patient's reaction to anesthesia. Oxygenation, circulation, breathing, and temperature measurements can be used to track the effect of anesthesia. The need for anesthesia monitoring devices varies from case to case and is dependent on the kind of surgery being performed. Anesthesia administration and monitoring during surgical procedures is a sophisticated skill that requires much training and experience. Anesthesia monitoring devices assist anesthesiologists in monitoring anesthesia dosage; additionally, good patient monitoring lowers the risks associated with both anesthesia and surgery.

The List of Companies - Anesthesia Monitoring Devices Market

  1. Mindray Medical International Limited
  2. Drägerwerk AG
  3. GE Healthcare
  4. Koninklijke Philips N.V.
  5. Schiller AG
  6. Criticare Systems, Inc.
  7. HEYER Medical AG
  8. Infinium Medical, Inc.
  9. Siare Engineering International Group S.r.l.
  10. Nihon Kohden Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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