The global anesthesia equipment market will touch USD 14.75 billion with 7.8 percent CAGR during 2019 to 2023, predicts Market Research Future. One of the major factors contributing to the growth of the global anesthesia machines market is the increasing prevalence of diseases and related risk factors. The prevalence of orthopedic disorders, gastrointestinal diseases, neurological diseases, and CVDs is increasing significantly across the world. It is estimated that CVDs will cause approximately 19 million deaths globally by 2020, which may increase the heart attack cases. Thus, the rising commonness of diseases increases the number of surgical procedures that require general anesthesia. This is leading to an increase in demand for anesthesia machines, thereby fueling the market to grow at a CAGR of nearly 4 percent during the 2019 to 2023 period. Integration of anesthesia equipment with hospital information management system is one of the major trends being witnessed in the global anesthesia equipment market. The new generation of anesthesia machines offers integrated recording and monitoring facilities and seamless integration with HIS. Thus, there is an increase in the demand for anesthesia machines that can be integrated with HIS.
There are abundant factors that are pushing forward the growth of the anesthesia equipment market. These factors include technological advancements in anesthesia system, creation of short-acting anesthetics, increasing use of patient monitoring devices, and computer-controlled anesthesia; shift to partial anesthesia from general anesthesia; growing number of minimally invasive surgeries regularly; increasing occurrence of chronic diseases like cancer, diabetes, and high cholesterol; increasing geriatric population; rise in urbanization and industrialization; increase in disposable income; technological developments; increasing investments made by leading manufacturers; constant innovations; increasing healthcare sector; and growing medical tourism.
The anesthesia equipment market in the European region will have the second major share over the forecast period with UK, Germany, and France being the key contributors here. In the Asia-Pacific region, the anesthesia equipment market is expected to grow at the fastest speed due to developing healthcare infrastructure and economic development. China will add to the growth rate of the equipment market followed by India. In the Middle-East and Africa, the anesthesia equipment market is led by Gulf economies of Qatar, UAE, Saudi Arabia, and Kuwait. The market here will see high wealth coupled with development of big hospital complexes.