Anesthesia monitoring devices are used during surgery to track patient vital signs such as heart rate, blood pressure, breathing pattern and movement.1 These devices play an important role during surgery, as they allow clinicians to monitor patients and reduce the risk of mishap.2 Companies that produce these monitoring devices compete to supply hospitals and health centers with their product.
With regards to major players, the anesthesia monitoring device market can be segmented into regions and competitors.3 North America, due to rapid advancements in technology, dominates the market, and new products and workstations are consistently being introduced in this region.3 The major companies in the anesthesia monitoring device market are Masimo, based in Irvine, California; Infinium Medical in Florida; Criticare Systems, based in Wisconsin; Fukuda Denshi and Nihon Kohden, both based in Tokyo; Covidien of Dublin, Ireland; Mindray Medical International Ltd., based in China; Drägerwerk and Heyer Medical in Germany; Schiller AG of Switzerland; GE Healthcare, a division of the General Electric company; and Philips Healthcare, a division of Royal Philips Electronics.4 The global anesthesia monitoring devices market can also be classified based on product—i.e., advanced anesthesia monitors, basic anesthesia monitors, integrated anesthesia workstations and others—and end user—i.e., hospital or ambulatory surgery center.5 The global market is expansive, and in 2017, it was valued at $1.14 billion.
Many factors contribute to the growth or hindrance of the anesthesia monitoring devices market. For example, the rise in the aging population and patient pool, technological advances and growing numbers of surgeries due to chronic diseases can fuel growth of the monitoring devices market.3,5 That said, the high cost of devices and other forms of patient monitoring may serve as barriers to market expansion.5 However, many other factors may be involved in the market. For one, because of the growing number of tourists needing medical care in the Asia Pacific region, countries in this area—such as India—are expected to become bigger consumers in the monitoring device market.3 Also, with a global mortality rate of about 0.003 percent due to inappropriate anesthesia dosing and increased need for anesthesia in surgical procedures, the motivation to properly monitor anesthesia is certainly present.5 The market is expected to increase at a compound annual growth rate of 12.3 percent to $2.28 billion by 2023.6
Clearly, the need for anesthesia monitoring devices is rising as the number of illnesses requiring surgical procedures increases. As medical tourism becomes more commonplace, regions outside of North America may become major players in the market. Companies that produce monitoring devices will need to introduce them in a variety of places and contexts.4 Given these observations, trend predictors expect drastic increases in the market’s value over the next four years.6
1. Bowdle TA. Depth of Anesthesia Monitoring. Anesthesiology Clinics of North America. 2006;24(4):793–822.
2. Tinker JH, Dull DL, Caplan RA, Ward RJ, Cheney FW. Role of monitoring devices in prevention of anesthetic mishaps: A closed claims analysis. Anesthesiology. 1989;71(4):541–546.
3. Anesthesia Monitoring Devices Market Analysis And Growth Rate to 2026 With Market Players[press release]
. July 9, 2019.
4. Korol S. Who are the major players in the anesthesia monitoring device market? Becker’s ASC Review. Web: Becker’s Health Care; March 29, 2018.
5. MarketsandMarkets™. Anesthesia Monitoring Devices Market by Product (Basic Anesthesia Monitors, Advanced Anesthesia Monitors, Integrated Anesthesia Workstations), End User (Hospital, Ambulatory Surgery Centers), and Geography – Global Forecast to 2020. October 2015.
6. Market.Biz. 2018–2023 Global and Regional Anesthesia Monitoring Devices Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report. Web: HNY Research; January 26, 2019.