Anesthesia Devices Market is Expected to Grow Owing to Rise in Surgical Procedures and Incidence of Chronic Disorders Till 2021 | Million Insights
FELTON, California, November 7, 2018 /PRNewswire/ --
Anesthesia Devices Market is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Anesthesia refers to temporary loss on the part of awareness or sensation; especially before operating upon the patient. The factors that propel the growth of the Anesthesia Devices Market include surge in the aged populace across the world, increasing number of surgical procedures, technical progressions and rise in the incidence of chronic disorders. On the other hand, there are factors that may hamper the growth of the market including high maintenance cost of the devices.
The New Cannula Design with Integrated Local Anesthetic Delivery System has emerged as a novel device for reducing the pain of intravenous cannula insertions by mechanically transporting local anesthesia through a small needle prior to the big one. The market may be explored by product type, type, application, end user, and geography. Market may be explored by product type as Advanced Anesthesia Monitors; which may be further explored as Standalone Capnography Monitors, Monitors Measuring Depth of Anesthesia, Anesthesia Gas Monitors and Others, Integrated Anesthesia Monitors and Basic Anesthesia Monitors.
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The "Advanced Anesthesia Monitoring Devices" segment led the Anesthesia Devices Market in 2015 and is anticipated to maintain its dominance over forecast period. The factors that could be attributed to the growth of market include durability, accuracy, and reliability of the devices, rise in the incidence of chronic disorders, and growing requirements.
The market may be explored by type as Local and General Anesthesia. The key applications that could be explored in this market include Neurology, Cardiology, Dental, Urology, Orthopedics, Ophthalmology, and Others. The market could be explored based on end user as Ambulatory Settings, Hospitals, and Others. The "Hospitals" segment led the market in 2015 and is anticipated to maintain its dominance over forecast period. The factors that could be attributed to the growth of market include accessibility of progressive infrastructure and presence of skilled workers in the hospitals.
North America accounted for the major share of the market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include high acceptance of technologically advanced products, upsurge in the number of surgical procedures, favorable government funding, well-developed reimbursement network, and increasing health consciousness among population. North America is likely to be followed by the European region.
Some of the key players that fuel the growth of the Anesthesia Devices Market comprise Medical, Inc., Masimo Corporation, Medtronic plc, Infinium, Nihon Kohden Corporation, Philips Healthcare, GE Healthcare, Drägerwerk AG & Co., Mindray Medical International Ltd., Schiller AG., and KGaA. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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