Depth of Anesthesia Monitoring Devices Market:
Introduction
According to the report, the global depth of
anesthesia monitoring devices market was valued at ~US$ 256 Mn
in 2019 and is projected to expand at a CAGR of ~5% from 2020 to 2030.
Depth of anesthesia can be defined as the degree to which the central nervous
system (CNS) is depressed by the administration of general anesthetic agent
based on the potency of the anesthetic agent and its concentration. The depth
of anesthesia refers to a continuum of progressive depression of CNS and
reduced responsiveness to stimulation. Different types of technologies are used
to monitor depth of anesthesia, including bispectral index, entropy, and
patient state index (PSI). The global depth of anesthesia monitoring devices
market is driven by rise in the number of surgical procedures and increase in
the global geriatric population with major chronic diseases.
North America dominated the global depth of anesthesia monitoring
devices market in 2019. The trend is anticipated to continue during the
forecast period. Highly structured healthcare industry, early new product
adoption, high prevalence rate of major chronic diseases, and presence of major
players are expected to propel the depth of anesthesia monitoring devices
market in North America. Asia Pacific is likely to be a highly lucrative market
for depth of anesthesia monitoring devices during the forecast period. The
market in the region is projected to expand at a high CAGR from 2020 to 2030.
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Rise in Number of Surgical Procedures and Increase
in Global Geriatric Population with Major Chronic Diseases to Drive Market
The rise in number of surgeries, especially plastic and reconstructive
surgeries, has led to the demand for depth of anesthesia monitoring devices.
According to statistics provided by the International Society of Plastic and
Aesthetic Surgeons (ISAPS), over 1.8 million cosmetic
surgeries were performed across the globe in 2019. According to the American
Society of Plastic Surgeons (ASPS), over 28,076 buttock
augmentation and 299,715 breast augmentation surgeries were
performed in the U.S. alone in 2019. Continuous increase in the geriatric
population is anticipated to be a potential driver of the global depth of
anesthesia monitoring devices market during the forecast period. The geriatric
population is at high risk of major chronic diseases, which require surgical
procedures. According to the U.S. Department of Health & Human Product
estimates, the U.S. will have about 72.1 million geriatric
population by 2030, which is more than twice the number in 2000.
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Bispectral Index to Dominate Depth of Anesthesia
Monitoring Devices Market
In terms of technology, the global depth of anesthesia monitoring
devices market has been divided into bispectral index, entropy, patient state
index (PSI), and others. The bispectral index segment dominated the global
depth of anesthesia monitoring devices market in 2019. This trend is expected
to continue during the forecast period. Anesthesia monitoring with bispectral
index can be justified as it reduces the recovery time after waking, primarily
by reducing the administration of general anesthetics as well as the risk of
adverse events. These factors are likely to drive the segment during the
forecast period. Entropy was the second largest segment in terms of market
share in 2019. The growth of the segment can be attributed to launch of new
products by leading players.
Modules to Offer Lucrative Opportunities
In terms of device type, the global depth of anesthesia monitoring
devices market has been categorized into modules, bundled devices, and
standalone devices. The modules segment accounted for a prominent share of the
global depth of anesthesia monitoring devices market in 2019, as modules can be
integrated into different DOA devices, which has resulted in their widespread
use in different clinical settings, and major market players such as GE
Healthcare, Philips, Mindray, and Spacelabs are providing innovative module
products.
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Hospitals Emerge as Major End User
In terms of end user, the global depth of anesthesia monitoring devices
market has been classified into hospitals and clinics & ambulatory surgical
centers. The hospitals segment led the global depth of anesthesia monitoring
devices market in terms of revenue in 2019. The trend is expected to continue
during the forecast period. Hospitals are an important channel for usage of
depth of anesthesia monitoring devices. The rise in the number of hospitals in
countries such as India and China is projected to increase the demand for depth
of anesthesia monitoring devices. The growth of the segment can be attributed
to the increase in the number of surgeries and hospital facilities across the world
North America to Dominate Depth of Anesthesia
Monitoring Devices Market
In terms of region, the global depth of anesthesia monitoring devices
market has been segmented into North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa. North America dominated the global depth
of anesthesia monitoring devices market in 2019, followed by Europe. North
America’s large market share can be ascribed to increase in the number of
people with major chronic diseases, new product launches, and presence of major
players in the region. The depth of anesthesia monitoring devices market in
Asia Pacific is anticipated to expand at a high CAGR from 2020 to 2030. This
can be attributed to the presence of developing countries with commercial hubs,
expanding business organizations, rise in awareness about depth of monitoring
devices, improving healthcare infrastructure, and increase in investments by
companies in their technical aspects.
Competition Landscape of Depth of Anesthesia
Monitoring Devices Market
The global depth of anesthesia monitoring devices market is fragmented
in terms of number of players. Key players operating in the global market
include Medtronic plc, GE Healthcare (General Electric Company), Nihon
Kohden Corporation, Koninklijke Philips N.V., Spacelabs Healthcare (OSI
Systems, Inc.), Masimo and Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Global Depth of Anesthesia Monitoring Devices
Market: Segmentation
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