Anesthesia Machinery Market Size, Share & Trends Analysis Report By Type (Continuous Anesthesia Machine, Intermittent Anesthesia Machine), By Subject (Human, Veterinary), By Applications (Nervous System Surgeries, Respiratory System Surgeries, Cardiovascular System Surgeries, Digestive System Surgeries, Urinary System Surgeries, ENT System Surgeries, Musculoskeletal System Surgeries), By End-User (Hospitals, Point of Care) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global anesthesia machinery market size was valued at USD 2,588.0 million in 2022. It is expected to reach USD 4,639.2 million by 2031, growing at a CAGR of 6.70% during the forecast period (2023–2031). Factors such as technological developments in anesthesia monitoring and increase in the number of operations, significantly drives the anesthesia machinery market demand by 2031.

Anesthesia machines are medical devices that deliver a controlled flow of oxygen, nitrous oxide, air, and anesthetic vapors to patients to prepare a gas mixture with variable composition. Various monitors are used to b checking the ventilation system's operation, find equipment problems, and provide patient information. By enhancing safety and lowering costs, ongoing improvements in the design of anesthesia machinery help improve efficiency and patient outcomes, including readmission and patient experience, which opens up opportunities for adopting anesthesia machinery.

Market Dynamics

Global Anesthesia Machinery Market Drivers

Technological Developments in Anesthesia Monitoring

Over the past few decades, rapid technological development has necessitated significant improvements in anesthesia monitoring equipment. Additionally, non-invasive measurements of pulse, temperature, end-tidal CO2, blood pressure, and electrocardiogram have become crucial components of anesthesia monitoring. Concerns about patient safety have increased, which has increased the demand for comprehensive anesthesia monitoring equipment. More advanced, computer-based, and fully integrated anesthesia systems have replaced simpler pneumatic devices as anesthesia machines. 

Some patients also need more invasive monitoring, like measuring their heart rate, blood pressure, or intracranial pressure. As a result, market players are concentrating on developing new anesthesia monitoring devices and their advancement. Advanced invasive surgical procedures necessitate real-time observation, ongoing data flow, and precise measurement of several vital signs. For instance, Masimo Corporation improved the capabilities of its non-invasive patient monitoring equipment in April 2018 to make it easier for doctors to access more data in a tailored configuration.

Increase in the Number of Operations

Cancer, infectious diseases, and genetic conditions are all spreading quickly worldwide. With about 18 million cases in 2018, cancer is one of the leading causes of morbidity and mortality globally, according to the WHO. Furthermore, over the following 20 years, cancer is predicted to rise by about 70%. Over 9.6 million deaths worldwide were caused by cancer in 2018. This increase in disease incidences necessitates surgical procedures in many age groups, which are typically complex and call for improved anesthesia equipment. A rise in the demand for anesthesia equipment is anticipated to fuel market expansion over the forecast period.

Global Anesthesia Machinery Market Restraints

High Installation and Upkeep Costs

The growth of the anesthesia machinery market is expected to be hampered by the high installation and upkeeping costs. A high-quality anesthesia machine is very costly because the prices of raw materials and manufacturing such equipment are very high. For instance, anesthesia equipment can cost up to USD 50,000. Additionally, the high cost of spectrometers can hinder the development of the anesthesia machinery industry in developing and underdeveloped nations because these nations lack the resources to buy such machinery.

Global Anesthesia Machinery Market Opportunities

Growing Demand for High-Quality Healthcare Monitoring

The ideal data systems and patient monitoring systems are very different from one another. A few private organizations have started the development of improved monitoring systems, even though government healthcare systems lack an extensive, robust monitoring system. Various cost and quality monitoring projects are set up in healthcare facilities or research institutions to show the caliber and capability of the modern machine. Every running initiative operates for distinct and wide-ranging objectives. Such initiatives for quality improvement of healthcare monitoring equipment, such as anesthesia machines, are anticipated to present a growth opportunity over the forecast period.

Regional Analysis

By region, the global anesthesia machinery market share is segmented into North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant shareholder and is expected to grow at a CAGR of 6.4% during the forecast period. The North American regional analysis analyzed the US, Canada, and Mexico. It is regarded as a mature and wealthy market because it includes the two most developed and affluent countries—Canada and the U.S. Mexico, which is at the top of its development curve but is still striving to become a developed country in North America, and has enormous potential for healthcare services. The United States dominates the market for anesthesia machine technologies thanks to the presence of top pharmaceutical and diagnostics tool companies like GE Healthcare Ltd. and Ambu A/S, the frequency of surgical procedures, and strong purchasing power. In addition, Canada exhibits comparable potential to the U.S. and uses comparable surgical techniques. Increased prevalence of diseases and the surgical procedures used to treat and develop them drive market expansion.

Europe is expected to grow at a CAGR of 6.60% during the forecast period. Europe is a diverse region with many economically very different nations; it comprises many developed and only a few developing countries. This region is the second most lucrative market for adopting and advancing contemporary surgical techniques. The European anesthesia equipment market is examined in relation to the UK, Germany, France, Spain, and Italy. According to data from the European Commission in 2017, the most frequent surgical procedures carried out in Europe are cataract surgery and colonoscopy. The high frequency of surgical procedures in Europe is anticipated to fuel the market for anesthetic machines.

Many nations in Asia-Pacific are still catching up with economic and technological advancements on a global scale. As a result, this region is growing and expanding at a relatively rapid rate. The main factors driving the anesthesia machinery market growth are the rise in awareness of diseases and treatment options, the expansion of significant biotech and pharmaceutical companies, and the emergence of healthcare research start-ups in the area. In addition, countries in this region have a high level of focus on healthcare infrastructure and services, which shows great potential for modern surgical techniques and related technologies. The need for more surgical procedures due to the rising prevalence of chronic diseases has increased the demand for anesthesia machines in Asia-Pacific. 

A few major nations, including Brazil, Saudi Arabia, South Africa, and the rest of LAMEA, are studied in the LAMEA region. Although many of the nations in this region are still developing, others have a clear potential for the market for precision medicine to expand and develop. Furthermore, it is anticipated that the rising prevalence of cardiac, neuro, and other chronic conditions will increase the number of surgeries performed to treat them. These elements are expected to increase the use of anesthesia equipment in the area.

Segmental Analysis

The global anesthesia machinery market is segmented by type, subject, application, and end-user.

Based on the type, the global anesthesia machinery market is bifurcated into continuous and intermittent anesthesia machines.

The continuous anesthesia machine segment is the highest contributor to the market and is expected to grow at a CAGR of 5.9% during the forecast period. The most common anesthetic equipment is continuous-flow because it can deliver a steady, precise flow of medical gases at a safe pressure and flow. Gas flow is calculated for both inspiration and expiration during continuous anesthesia. A vaporizer regulates the flow of these gases through a breathing circuit to the patient. These machines for continuous anesthesia have a mechanically or electronically controlled supply of anesthetic gases that is uninterrupted and continuous. Another benefit of using a continuous anesthetic machine is that it maintains a steady flow of gases, allowing for accurate anesthetic vapor concentration.

Gas flow is only provided by intermittent anesthesia equipment when the patient's inspiration activates it. These machines are typically used for quick surgical procedures, made possible by the patient breathing in medical gases like oxygen and nitrogen. These sporadic systems work with sporadic minute ventilation and sporadic mandatory ventilation. Additionally, every intermittent machine design's operation sequence is constantly modified to meet customer demand. Controlled anesthesia that is frequently used in neurosurgical procedures is intermittent general anesthesia.

Based on the subject, the global market for anesthesia machinery is bifurcated into human and veterinary.

The human segment owns the highest market share and is expected to grow at a CAGR of 6.2% during the forecast period. During surgical procedures, anesthesia is administered to patients using anesthesia delivery machines. The World Health Organization (WHO) estimates that 230 million major surgical procedures are performed annually globally. In addition, ingenious human anesthesia delivery equipment is required for complex invasive surgical procedures. These devices are preferred over traditional anesthesia machines because they can support lengthy surgical procedures. The market is anticipated to experience profitable growth opportunities due to new and improved anesthesia devices offering the highest safety and precision.

There are many different types of anesthetic equipment for veterinary surgeons, ranging from outdated to contemporary. Unidirectional valve design and quick disconnect common outlet are features of veterinary anesthesia equipment like the MATRX VME2 and M1200 veterinary anesthesia machine by MDS Matrx. According to the American Animal Hospital Association, pre-procedural laboratory screening has been advised for all senior dogs and cats, ideally within two weeks of anesthesia.

Based on the application, the global anesthesia machinery market is bifurcated into nervous system surgeries, respiratory system surgeries, cardiovascular system surgeries, digestive system surgeries, urinary system surgeries, ENT system surgeries, and musculoskeletal system surgeries.

The musculoskeletal system surgeries segment is the highest contributor to the market and is expected to grow at a CAGR of 5.6% during the forecast period. Orthopedic, skeletal, and cartilage procedures all fall under the category of musculoskeletal. General anesthesia is preferred during musculoskeletal system surgeries, but regional anesthesia can sometimes be used. The choice of anesthetic for the procedure depends on several variables, including the patient's past experiences with anesthetics, their current state of health, how they react to medications and the surgeon's preferences.

In addition, debridement, soft tissue repair, and joint surgery are the techniques used in this surgery. Regional anesthesia can be used to achieve spinal block, epidural block, and peripheral nerve block, which also aids in reducing blood loss and enhancing pain management following surgery. Major surgical procedures like joint replacement and amputation use general anesthesia because it provides secure operating environments and lowers health risks.

Surgery is necessary for gastrointestinal disorders like pancreaticoduodenectomy, esophagectomy, and liver resection. Surgery, especially gastrointestinal procedures like pancreaticoduodenectomy and esophagectomy, can be affected in several ways by anesthesia. Since gastrointestinal endoscopic procedures outnumber most medical practices in the United States, many anesthetic procedures fall under lower esophageal sphincter pressure. Both have a high anesthesia requirement. As a result, it is anticipated that this market segment will grow the most during the forecast period.

Based on the end-user, the global market is bifurcated into hospitals and point of care.

The hospital segment owns the highest market share and is expected to grow at a CAGR of 6.1% during the forecast period. Hospitals are specialized healthcare facilities with the sole purpose of treating patients by using specialized medical tools and nursing personnel. All hospitals perform various medical treatments and surgical procedures, where anesthesia is crucial to a procedure's success. In addition, hospitals can perform lengthy, complex surgeries that may necessitate keeping patients heavily sedated for several hours. The hospital segment generates the most revenue in the end-user segment due to the large number of surgical procedures performed in hospitals.

The term "point-of-care" generally refers to the site of a diagnostic test. As a result of the shorter overall testing time and the proximity to the patient, the diagnosis process takes less time overall in this location. Additionally, since the previous decades, the use of anesthesia in point-of-care (POC) ultrasonography has increased exponentially. It has developed to include monitoring and diagnostic applications in perioperative and intensive care settings. Portability and miniaturization have increased anesthesia's use in point-of-care operations during operations, which is predicted to present a lucrative opportunity for the market.

Recent Developments

• January 2023- Medline Canada, Corporation announced the acquisition of Calgary-based Stat Healthcare Corporation, a medical and laboratory supplies provider with expertise in clinic set-ups.
• January 2023- To strengthen its capabilities in interventional guidance, GE HealthCare announced an agreement to acquire IMACTIS.