(I-BusinessNews.Com, July 23, 2021 ) According to research report the global Depth of Anesthesia Monitoring Market is projected to reach USD 170 million by 2024, at a CAGR of 3.2% during the forecast period.
The growing patient pool in hospitals and the increasing number of surgeries are the major factors that are driving the growth of this market. However, the high installation and maintenance costs of depth of anesthesia monitoring devices are expected to restrain the growth of this market in the coming years.
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Consumables segment accounted for the largest share of the US depth of anesthesia monitoring market, by product type, in 2018
Based on product type, the US depth of anesthesia monitoring market is segmented into devices and consumables. In 2018, the consumable segment accounted for the largest share of the market owing to the need for repeat purchase of consumables and the high adoption of single-use sensors. On the other hand, the average life span of depth of anesthesia monitoring devices is around 10 years, and these devices can be provided at no cost if a long-term contract is signed for the purchase of consumables.
Modules segment accounted for the largest share of the US depth of anesthesia monitoring market, by device type, in 2018
On the basis of device type, the US depth of anesthesia monitoring market is segmented into modules, bundled devices, and standalone devices.
The modules segment accounted for the largest share of this market in 2018 majorly due to their widespread use in different clinical settings as they can be integrated into different DOA devices.
Hospitals are the largest end-users of depth of anesthesia monitoring products in the US
Based on end user, the US depth of anesthesia monitoring market is segmented into hospitals and ambulatory surgical centers & Clinics. The hospitals segment accounted for the largest share of this market in 2018 and is estimated to grow at a higher CAGR during the forecast period majorly due to the growing patient pool in hospitals and the increasing number of surgeries. As the installation and maintenance costs of depth of anesthesia monitoring devices are very high, large hospitals usually can afford to invest in these devices as compared to small clinical settings.
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The prominent players operating in this market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Medtronic Public Limited Company (Ireland), GE Healthcare (US), Mennen Medical Ltd. (Israel), Masimo Corporation (US), and Philips Healthcare (Netherlands).
GE Healthcare (US) is one of the prominent players operating in the US depth of anesthesia monitoring market. The company serves customers in more than 130 countries across the Americas, Europe, Asia, the Middle East, and Africa. Currently, GE Healthcare is the only player with a proprietary Entropy technology designed to provide information on the state of the central nervous system during general anesthesia. The company also offers the E-BIS module, which uses the BIS expanded performance (BIS XP) technology to measure the effects of anesthetics and sedatives on the brain with a four-electrode Quatro sensor.
Recent Developments
> In 2018, Masimo Corporation (US) introduced the RD SedLine EEG sensor for use with Masimo SedLine Brain Function Monitoring.
> In 2017, Shenzhen Mindray Bio-Medical Electronics received FDA approval for its Passport Series Patient Monitors (Passport 12m, Passport 17m).
> In 2016, Masimo and Philips entered into a multi-year partnership for the joint marketing and sales of Masimo’s technologies in North America and certain markets in Asia and Europe.
> In 2015, Medtronic plc acquired Covidien plc, an Ireland-based global manufacturer of medical devices and supplies.
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