The global anesthesia equipment market is expected to observe rapid development over the forecast period. This growth can be attributed to the rising cases of planned surgeries and need for minimizing anesthesia-related risks to healthcare personnel, as well as patients. Increasing cases of respiratory illnesses, such as obstructive sleep apnea (OSA) and chronic obstructive pulmonary disease (COPD), are the primary drivers for this market. Anesthesia equipment is designed to provide a precise and continuous supply of medical gasses such as nitrous oxide and oxygen.
It is mixed with an accurate concentration of anesthesia vapor, such as isoflurane, and is given to the patient at a safe pressure. These devices are being used in all the operations and help in monitoring anesthesia levels throughout the procedure. Growing geriatric population base across the globe is another major reason behind the growth of this market. High prevalence of chronic diseases, due to difficult working conditions like working in coal mining areas, along with growing number of minimally invasive surgeries would also drive the market.
In addition, rapid technological advancements taking place in these products are expected to lead towards the availability of better options for healthcare practitioners and patients, thereby increasing the market demand. Moreover, rising levels of air pollution are also anticipated to contribute toward the market growth over the next few years.
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North America and Europe are considered as key regional markets owing to presence of advanced medical facilities. Higher healthcare expenses capacity and shifting preference of patients toward home care over hospital care in these regions are boosting product demand. In addition, favorable government policies in these regions are also anticipated to propel the market growth in these regions in the years to come.
Most of the companies in this market have adopted strategic initiatives such as product development, M&A, and partnerships and collaboration to gain a higher market share. For instance, in January 2013, Supera Anesthesia Innovations, a provider of oxygen concentrator technology for veterinary anesthesia applications, launched Pureline OC6200. This product enables users to convert VMS MATRX veterinary anesthesia equipment to cost-effective oxygen concentrator without fully replacing the existing equipment. It is equipped with the features such as E-tank, low center of gravity for extreme stability, heavy-duty locking casters, large shelf with additional storage features and super-sturdy construction.
In October 2013, Philips launched a new product called IntelliSave AX700. It offers support for low-flow and minimal flow anesthesia, as well as extensive ventilation capabilities. The new machine features IntelliBridge, which allows the transfer of data from the device to an anesthesia/clinical information system like Philips IntelliSpaceAnesthesia or hospital information system, advanced ventilation modes like pressure regulated volume target, or individual support for neonatal or heart-lung machine scenarios.
The company also launched IntelliVue MX400 and MX450, a monitoring device, during the same period. The new monitoring device offers patient monitoring feature, a built-in handle that can accommodate shifting center of gravity for enhanced portability. In October 2014, Drägerwerk AG & Co launched Perseus A500 anesthesia workstation. It offers unprecedented re-configurability, high-performance ventilation, enhanced ergonomics, and automation to support the workflow of the operating room.
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