According to estimates provided by Market Research Future (MRFR), the global Anesthesia Delivery Devices Market will bring in 74.9 billion in revenue by 2030 at a CAGR (compound yearly growth rate) of 6.6% between 2022-2030.
An anesthesia delivery device is used to administer anesthesia or sedative drugs to patients before surgical or medical procedures to ensure the patient's safety and alleviate pain. An anesthesia delivery unit can either be a continuous or semi-continuous monitoring system. The device facilitates the administration of anesthetics like nitrous oxide and volatile liquids.
As a result of the pandemic, the worldwide market for anesthetic delivery systems has seen an uptick in interest and sales. The healthcare sector has been one of the most hit by the pandemic and has faced a number of difficulties since the start of the COVID-19 pandemic. Laboratories, physicians’ offices, hospitals, and other healthcare facilities have curtailed their services in order to contain the spread of the virus. However, this restrained the global anesthesia delivery devices market temporarily from March 2020 to September 2020. This is due to the reduced number of surgical procedures, as hospitals are only occupied with pneumonia and COVID-19 cases. The demand for anesthesia delivery systems has since stabilized since the end of 2020 and is expected to grow in 2021 as the restrictions due to the pandemic are gradually eased out.
The global anesthesia delivery devices market is majorly driven by increasing surgeries and growing demand of anesthesia delivery devices in hospitals and clinics. The trend of increasing short-term surgeries will fuel the market growth during the forecast period, as these surgeries require general anesthesia, which in turn require anesthesia delivery devices. The demand for anesthesia delivery devices is also driving use of anesthesia delivery equipment and machines. The increasing requirement to reduce cost of treatments and procedures and the continuously improving health care infrastructure in developing countries is anticipated to boost the global anesthesia delivery devices market.
There are numerous submarkets within the global Anesthesia Delivery Devices Market, each catering to a different set of buyers based on their specific needs.
The global market for anaesthetic delivery devices can be subdivided into several subsegments based on the type of product at play: intravenous anesthesia delivery system, anesthesia machine and vaporizer, anesthesia gas delivery system, and others. Of the four, the anesthesia vaporizer segment is expected to grow at a CAGR of 6% and reach 74.9 billion by 2030 due to its many associated advantages such as humidity control, temperature control, and others.
The global anesthesia delivery devices market may be broken down into three distinct sectors based on who buys the equipment: hospitals, ambulatory surgery centers, and other facilities. The hospitals sector held the largest share of the market in 2018 and is expected to reach 3,630.1 million by 2025. This is due to greater awareness in the healthcare service providers regarding the clinic protocols and providing personalized and improved treatment services to their patients.
The regional assessment of the global Anesthesia Delivery Devices market covers market analysis from five major regions, namely, Europe, Latin America, North America, Asia Pacific and the Middle East & Africa (MEA).
In 2018, North America held a lion's share of the global market for anesthetic delivery devices, and this trend is projected to continue through 2025. The large share of the region is attributed to factors such as the higher awareness of anesthesia delivery devices among medical practitioners boosted the use of anesthesia delivery devices in the region.
Europe was the second-largest market in 2018 and is expected to keep its biggest chunk of the market by 2030.
With the greatest projected compound annual growth rate (CAGR) during the assessment period, the Asia-Pacific region is the most dynamic frontier in the global anesthetic delivery devices market. The availability of a sizable patient base has been credited with this expansion, along with the increase in hospital investments, and rising government initiatives towards improving healthcare infrastructure are the major factors driving the regional growth. Although developing markets such as China and India are leading the regional market, developed countries such as Japan and South Korea are also expected to expand the regional market.
The prominent players in the Global anesthesia delivery devices market include B. Braun Melsungen AG (Germany), Smiths Medical (US), Covidien Plc (Ireland), Pfizer Inc. (US), Stryker Corporation (US), Teleflex Incorporated (US), Merck KGaA (Germany), Fresenius Kabi AG (Germany), GE Healthcare (US), and Toshiba Medical Systems Corporation (Japan).