The global 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. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Growth in this market can primarily be attributed to the growing geriatric population on a global level. Common age-related diseases and conditions include arthritis, osteoporosis, lumbar spinal stenosis (LSS), gastroesophageal reflux disease (GERD), and benign prostatic hypertrophy. LSS is extremely common among people aged 50 years and above, with most patients in this age group undergoing surgical procedures for its treatment. As per the American Academy of Orthopaedic Surgeons (AAOS), around 2.4 million Americans are expected to be affected by this condition by 2021. The growth in the geriatric population is thus expected to result in a surge in the total number of surgeries performed in the US.
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Leading players in this market include well-established and financially stable manufacturers of anesthesia equipment. These companies have been operating in the market for several years and possess a diversified product portfolio, advanced technologies, and strong global presence. Prominent companies in this market include GE Healthcare (US), Dragerwerk Ag & Co. KGAA (Germany), Koninklijke Philips N.V. (Netherlands), Ambu AS (Denmark), Medline Industries Inc. (US).
The anesthesia circuits (breathing circuits) segment of the anesthesia equipment industry is expected to register the highest CAGR during the forecast period.
Based on type, the anesthesia equipment market is segmented into anesthesia circuits (breathing circuits), anesthesia masks, endotracheal tubes (ETTS), laryngeal mask airways (LMAS), and other accessories. In 2022, the anesthesia circuits (breathing circuits) segment is expected to register the highest CAGR during the forecast period. These anesthesia disposables are essential for maintaining a sterile environment, preventing infections, and ensuring patient safety during anesthesia procedures. They are designed to be convenient, cost-effective, and eliminate the need for cleaning and sterilization which is fueling the demand for these products.
The cardiology segment of anesthesia equipment industry is estimated to grow at a higher CAGR during the forecast period.
Based on application, the anesthesia equipment market is segmented into orthopedics, neurology, respiratory care, urology, cardiology, and others. The cardiology segment is estimated to grow at a higher CAGR during the forecast period. Growth in this segment can be attributed to the the aging population, which is more susceptible to cardiac conditions, and the rising adoption of minimally invasive cardiac interventions.
The ambulatory surgical centers segment of the anesthesia equipment industry is expected to grow at the highest CAGR during the forecast period.
Based on the end user, the anesthesia equipment market is segmented into hospitals, clinics, ambulatory surgical centers, and other end users. In 2022, ambulatory surgical centers segment is expected to grow at the highest CAGR during the forecast period. the growing number of outpatient visits. Ambulatory surgical centers are well-equipped with critical care devices and instruments. Moreover, these outpatient settings are associated with reduced patient stays.
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APAC is estimated to be the fastest-growing region for anesthesia equipment industry.
The global anesthesia equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, APAC is estimated to be the fastest-growing regional market for anesthesia equipment. The high growth in this market can majorly be attributed to the rising number of hospitals and increasing healthcare expenditure, the significant growth in patient volume, and the demand for healthcare services.
