Anesthesia Monitoring Devices Global Market

Anesthesia Monitoring Devices Global Market
[PRODUCT (Basic, Advanced Anesthesia Monitoring

Devices {Anesthesia Gas Monitors, Depth of
Anesthesia Monitors (BIS, E-Entropy, Narcotrend &
2018
Other), Standalone Capnography monitor and Others}
and Integrated Anesthesia workstation); END-USERS
(Hospitals, Ambulatory Surgical centers and Others);
REGIONAL (North America, Europe, Asia-Pacific and
Rest of the World)]
– Forecast to 2024
Copyright © 2018 IQ4I

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www.iq4i.com
–Forecast to 2024
IQ4I Research & Consultancy Pvt. Ltd. Page 2

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LIST OF COMPANIES MENTIONED IN THE REPORT
Company Name Headquarters
Acoma Medical Industry Co., Ltd Japan
Ambisea China
BPL medical Technologies India
Cortical Dynamics Australia
Criticare Technologies Inc. U.S.
Danmeter Denmark
Dixion Germany
Draegerwerk AG & Co. Germany
Fresenius Kabi Germany
Fukuda Denshi Co. Limited Japan
GE Healthcare U.S.
General Meditec China
Heyer Medical AG Germany
Infinium Medical U.S.
Iradimed Corporation U.S.
Löwenstein group Germany
Masimo Corporation U.S.
Medasense Biometrics Limited Israel
Medtronic , PLC Ireland
Micropore Inc. U.S.
Mindray Medical International Limited China
Monitor Mask Inc U.S.

–Forecast to 2024
Company Name Headquarters
Monitor Technik (Narcotrend) Germany
Neurowave U.S.
Nihon Kohden Corporation Japan
Norvap Medical U.K.
Opto Circuits Limited India
Pfizer U.S.
Philips The Netherlands
Physiometrix U.S.
Siare Italy
TMS Medical Turkey
Treaton Russia
Utas Ukraine

–Forecast to 2024
1 EXECUTIVE SUMMARY
Anesthesia is a state of controlled unconsciousness and is essential for most of the surgical
procedures. During the surgical procedures with Anesthesia, it is crucial to monitor the level of
consciousness of a patient and also other body parameters. Anesthesia monitoring devices are
used to deliver the Anesthesia drug to the patient and monitor the patient’s parameters like
oxygenation, circulation, ventilation and temperature during surgery and post surgery recovery
period. These Anesthesia monitors can be a part of the multivariable monitor or can be
standalone unit or can be a component of high end Anesthesia workstation. Anesthesia
monitoring devices are used in hospitals, academic research institutes and ambulatory surgical
centres.
As estimated by IQ4I Research and Consultancy, the anesthesia monitoring devices global
market is expected to reach $1,644.6 million by 2024. The major factors driving the Anesthesia
monitoring devices market includes increasing number of surgeries, technological
advancements in anesthesia monitoring, rise in aging population and patient pool, growing
incidence & prevalence of chronic diseases. However, lack of awareness among the
professionals operating the devices and high cost of the devices may hinder the growth of
Anesthesia monitoring devices market. In 2017, the estimated installed base for Depth of
Anesthesia devices worldwide was XX and number of new devices sold was XX.
The Anesthesia monitoring devices global market is segmented based on the Products, End-
users & Geography. Among Products, Advanced anesthesia monitoring devices held the
maximum share and is expected to grow at a strong CAGR because of technological
advancements which makes these devices more comfortable and safe for the patients. Among
advanced anesthesia monitoring devices, Depth of anesthesia segment held the maximum
revenue and is expected to grow at a strong CAGR from 2017 to 2024. The maximum share is
attributed to Depth of Anesthesia monitors as these monitors are being successful in permitting
accurate drug administration against the measured patient’s awakening state. Among End-
Users, Hospitals occupied the major share in anesthesia monitoring devices global market 2017
as hospitals are the major centres where life saving surgeries is performed.

–Forecast to 2024
Most of the surgical procedures require general anesthesia and strict monitoring of the vital
patient parameters. However, there are certain unmet needs in the anesthesia monitoring
devices market like difficulty in avoiding unintentional wakefulness during surgery which in turn
makes the patient more anxious and traumatize. This led to improvement of patient monitoring
devices resulting in introdution of depth of anesthesia monitors like BIS technology, Narcotrend,
E-Entropy which are considered to be “gold standards” along with newly developed EEG-
derived Cerebral State Index (CSI) from Danmeter (Denmark), PSI (Patient State Analyser)
from Hospira (Pfizer) (U.S.). Fresenius Kabi (Germany) a global healthcare company which
acquired Quantium Medical (Spain) in 2016 offers Conox Depth of Anesthesia monitor. Conox
is a non-invasive depth of anesthesia monitor designed to help anesthesiologists monitor patient
brain activity and to quickly identify how anesthetics are affecting the patient. It is the only
monitor which measures both hypnotic and analgesic effect. It also aids in avoiding too deep
anesthesia which could cause Post Operative Cognitive Dysfunction (POCD). Similarly, Cortical
Dynamics (Australia) has developed BAR (Brain Anesthesia Response) monitor which provides
much greater sensitivity to anesthetic drug effect enabling the monitoring of a wider range of
anesthetic agents, some of which are not properly detected by the competing technologies.
The demand for the Anesthesia monitoring devices is expected to persist in future where the
devices are less prone to interferences, highly accurate, wireless, low cost and are highly
responsive to sudden shifts in vital parameters.
Geographically, North America region commanded the largest revenue in 2017 wherein, United
States accounted for the largest share. This growth is driven by increasing incidence of
surgeries, adoption of advanced technologies and rising competition in the market. Among
European nations, Germany dominates the market and is expected to show a strong growth.
Rising incidence of surgeries in different specialty such as cardiovascular surgeries, neurology,
orthopedics, C-section and plastic surgeries in Europe is the primary reason for the
development of the market. Due to the impact of Brexit, the market growth rate in U.K. may
decrease from 2019 because of the uncertainty of regulatory and funding issues. Asia-Pacific
region is projected to grow with a strong CAGR due to continued economic developments and
the advancing healthcare system with the aid of supportive government initiatives.
The Anesthesia monitoring devices global market is highly consolidated and the major 7 players
occupy the share. Major seven players in the market are Draegerwerk AG & Co. (Germany),

–Forecast to 2024
Fukuda Denshi Co. Ltd. (Japan), GE Healthcare (U.S.), Heyer Medical (Germany), Medtronic
(Ireland), Mindray Medical International Limited (China), Nihon Kohden Corporation (Japan).
Other key players in the market are Infinium Medical (U.S.), Monitor Technik
(Narcotrend)(Germany), BPL medical technologies (India), Masimo Corporation (U.S.), Opto
circuits (India), Danmeter (Denmark), Ambisea (China). The report analyses Anesthesia
monitoring devices market globally with detailed information on various segments. It further
discusses market dynamics, industry trends, and challenges of Anesthesia monitoring devices
market.
FIGURE 1
ANESTHESIA MONITORING DEVICES GLOBAL MARKET GROWTH,

BY REGION (2017-2024) (%CAGR)
North America: Europe:

Basic : x% Basic: x% {CAGR %: 2017 - 2024}
Advanced: 7.9% Advanced: x%
Integrated: x% Integrated: 5.9%
Asia-Pacific:
Basic: 5.5%
Advanced: x%
Integrated: x%
ROW:
Basic: x%
Advanced: x%
Integrated :7.5%

–Forecast to 2024
2 ANESTHESIA MONITORING DEVICES GLOBAL MARKET,

BY PRODUCT
FIGURE 2
ANESTHESIA MONITORING DEVICES GLOBAL MARKET REVENUE,

BY PRODUCT (2017 V/S 2024) (MN)
2017 2024
Basic Anesthesia Monitoring Advanced Anesthesia Monitoring

Integrated Anesthesia Monitoring

–Forecast to 2024
FIGURE 3
ADVANCED ANESTHESIA MONITORING DEVICES GLOBAL MARKET

REVENUE, BY PRODUCT TYPE (2017 V/S 2024) (MN)
2017 2024
Depth of Anesthesia Anesthesia Gas Monitor

Standalone Capnography Monitor Others
TABLE 1
DEPTH OF ANESTHESIA MONITORING DEVICES (STRIPS) TOTAL

ADDRESSABLE MARKET (TAM) (2016-2024) ($MN)
Market Analysis 2016 2017 2018 2024

Number of surgical procedures performed
XX XX XX 350,208,206
globally
Estimated number procedures Eligible
88,673,906 XX XX XX
using DoA (Strips)
Estimated number of procedures
XX XX XX XX
performed using DoA (Strips)
Total Addressable Market (TAM) ($Mn) XX XX XX XX
Market Penetration (%) XX XX XX XX

–Forecast to 2024
FIGURE 4
ADVANCED ANESTHEISA MONITORING DEVICES & DEPTH OF ANESTHESIA

GLOBAL MARKET REVENUE, BY TECHNOLOGY(2017) ($MN)
2017
Anesthesia Gas Monitor Standalone Capnography Monitors

Others Depth of Anesthesia
BIS E-Entropy
Narcotrend Others

–Forecast to 2024
3 ANESTHESIA MONITORING DEVICE GLOBAL MARKET,

BY END USER
FIGURE 5
ANESTHESIA MONITORING DEVICES GLOBAL MARKET SHARE,

BY END USER (2017 V/S 2024) (%)
1,400.0
1,200.0
1,000.0
800.0
600.0
400.0
200.0
-
2017 2024
Hospitals Ambulatory Surgical Centers Others

–Forecast to 2024
4 MARKET OVERVIEW
4.1 DRIVERS AND OPPORTUNITIES
4.1.1 INCREASING NUMBER OF SURGERIES

Surgeries are the life saving therapeutic applications that play a significant role in the healthcare
system, as, it contributes towards the advancement in patient outcome. In the past few years,
the technological advancements in the surgical healthcare segment have led to an increase in
the average lifespan of the world population. Surgeries are a big part of all the healthcare
treatment procedures, wherein the induction of Anesthesia prevents the patient from
experiencing pain while performing surgeries. Anesthesia administering makes many surgical
procedures easy and safe.
According to World Health Organization (WHO), nearly 235 million major surgeries are
performed in the world every year. Obstetrics and gynecology tend to be the most common
surgeries performed and according to U.S. National Center for Health Statistics, the preliminary
national caesarian rate for 2005 was 24.3% whereas in 2016 it increased to 32.5% of all the
births. The most preferred surgery which is growing at a faster rate is reconstructive plastic
surgery. According to American Society of Plastic Surgeons, it is estimated in 2012
approximately 14.6 million procedures were done and wherein 2016 ~17.1 million cosmetic
procedures were performed in the United States, which including minimally-invasive cosmetic
procedures and reconstructive procedures. In order to undergo pain-free surgical procedures,
patients needed to be anesthetized and this huge demand for anesthesia delivery also enhance
the requirement for Anesthesia Monitoring Devices Market. Hence, the increasing volume of
surgeries is driving the growth of Anesthesia Monitoring devices market.

–Forecast to 2024
4.2 MARKET SHARE ANALYSIS BY MAJOR PLAYERS
FIGURE 6
ANESTHESIA MONITORING DEVICES GLOBAL MARKET

SHARE ANALYSIS, BY KEY PLAYERS, 2017 (%)
Draegerwerk Medtronic GE Healthcare Mindray Medical

Nihon Kohden Fukuda Denshi Heyer Medical Others
Medtronic’s roughly $43 billion acquisition of Covidien in 2015 created the world’s second-
largest medical device company. The deal had significant implications in terms of enhanced
market presence and company financials in Anesthesia monitoring devices market. The deal
also made Medtronic-Covidien a stronger leading player in the Depth of Anesthesia monitor
market. It offers BIS brain monitoring product which is a Depth of Anesthesia monitor and
Medtronic has proprietary licensing ownership for this BIS technology.

–Forecast to 2024
FIGURE 7
DEPTH OF ANESTHESIA GLOBAL MARKET

SHARE ANALYSIS, BY KEY PLAYERS, 2017 (%)
Medtronic GE Healthcare Narcotrend Others

–Forecast to 2024
5 INTRODUCTION
5.1 RESEARCH METHODOLOGY
The research on Anesthesia monitoring devices global market involved both widespread
secondary and primary research. The secondary research was carried out on company
websites, annual reports, SEC filings, associations, articles, press releases, journals and paid
Sources to identify and collect both the qualitative and quantitative data related to anesthesia
monitoring devices market. The primary Sources were experts from supply side such as CEOs,
directors, international/regional, vice presidents, marketing managers, and marketing
executives, Surgeons and Academic & research experts from the demand side. All the primary
Sources were interviewed to acquire and verify critical qualitative and quantitative information
and also to assess the future forecast of all segments of the Anesthesia monitoring devices
market. Along with these, the additional information extracted was about the key players in this
industry with their market revenues, products and developments. The factors responsible for
growth and restriction of the anesthesia monitoring devices global market along with the future
opportunities were also determined through secondary research and verified through primary
Sources. The following illustrative figure shows the market research methodology applied in
making this report on the Anesthesia monitoring devices global market.
5.1.1 MARKET SIZE ESTIMATI ON

The size of the Anesthesia monitoring devices global market and its various segments were
estimated and validated through secondary and primary research. All the Anesthesia monitoring
devices market percentage shares splits, and breakdowns were determined using secondary
sources and verified through primary sources to get the final quantitative and qualitative data.
This data is consolidated and added with detailed inputs and analysis from IQ4I and presented
in this report.

–Forecast to 2024
FIGURE 8
ANESTHESIA MONITORING DEVICES GLOBAL MARKET: TOP-DOWN AND

BOTTOM-UP APPROACH
Anesthesia Devices
Global Market
Anesthesia monitoring devices

global market
Overall
Products, End-Users, geographic market market size
and CAGR
share of anesthesia monitoring devices
global market
Market share derived by number

Market share of sub segments of anesthesia monitoring devices
installed & units sold data,
number of annual procedures
Regional market shares performed in hospitals,
ambulatory centers & others
Top players market revenue in anesthesia

Sub segments monitoring devices global market: BPL medical
market size technologies (India), Draegerwrek AG & Co.
and (Germany), Fukuda Denshi Co. Ltd (Japan), GE
CAGR Healthcare (U.S.), Heyer medical (Germany),
Infinium Medical (U.S.), Masimo Corporation
(U.S.), Medtronic (Ireland), Mindray Medical
(China), Monitor Technik
(Norcotrend)(Germany), Nihon Kohiden (Japan)
The top-down approach was used to derive the anesthesia devices global market as well as the
anesthesia monitoring devices global market by products, end-users and by geography.
Different percentage splits were applied for different segments and sub-segments of the
anesthesia monitoring devices market. Even the geographical splits differ in each of the
disciplines. The bottom-up approach was followed for market share analysis of the key players
and thereby deriving the final anesthesia monitoring devices global market value.

–Forecast to 2024
5.2 MARKET SEGMENTATION
Anesthesia monitoring devices global market in this report is segmented by Product and by
End-Users. Based on the Product Anesthesia monitoring devices market is segmented into
Advanced Anesthesia Monitors, Basic Anesthesia Monitors and Integrated Anesthesia
Workstation. Hospitals, Ambulatory Surgical Centres are the major end-users of the Anesthesia
monitoring devices.
FIGURE 9
ANESTHESIA MONITORING DEVICES GLOBAL MARKET SEGMENTATION
Products End-Users Geography
Hospitals North America

Advanced Integrated
Basic Monitors
Monitors Monitors Ambulatory
Surgical centers Europe
Depth of Others Asia-Pacific

Anesthesia Gas Standalone
Anesthesia Others
monitors Capnography
monitors
RoW
BIS
Narcotrend
E-Entropy
Others

–Forecast to 2024
6 COMPANY PROFILES
6.1 DRAEGERWERK AG & CO. KGAA (GERMANY)
6.1.1 OVERVIEW
3,000.0 265.0
Draegerwerk AG & Co. KGAA 2,950.0 260.0
R&D expenses ($Mn)

2,900.0 255.0
Revenue ($Mn)
Founded: 1889
2,850.0 250.0
Headquarters: Germany
2,800.0 245.0
No. of employees: 13,739
Revenue: $2,905.1 Mn 2,750.0 240.0
R&D Expenses: $265.0 Mn 2,700.0 235.0
2,650.0 230.0
2015 2016 2017
Total revenue R & D expenses
Segment revenue ($Mn) Geography revenue ($Mn)

(2017) (2017)
576.4
1,021.3
1,598.6
1,883.8 730.1
Medical Business Safety Business Europe Africa, Asia & Australia Americas

–Forecast to 2024
6.1.2 ASSUMPTIONS
PARAMETER ASSUMPTIONS
The Anesthesia monitoring devices global market

revenue is estimated to be XX% of anesthesia
Market Revenue
devices global market. The value is cross-validated
through bottom-up and top-down approach as well.
The CAGR for the forecasted period (2017-2024) is

assumed to be normalized and the effect of
Market growth inflation, recession, economic downturn, regulatory
or policy changes or other factors are not
considered.
The products splits were assumed based on the

use of Anesthesia monitoring devices by their
End-User Market
various end-users. These were cross verified with
primary data as well.
The average selling price of the Depth of

Anesthesia device was considered to be $XX and
Depth of Anesthesia devices
the average selling price of the Depth of Anesthesia
strip considered is $XX.

–Forecast to 2024
PARAMETER ASSUMPTIONS
The market shares of main segments are analyzed

based on absolute data and primary inputs. In case
Segmental & Sub segmental
market shares of the data non-availability, the % splits arrived
based on Product matrix and sub-segment market.
Market share analysis of key players is performed

in two ways that are based on the primary research
Market Share Analysis
rankings (Market penetration of players) and the
of Key players other method is based on actual and estimated
product revenues of key players.

–Forecast to 2024
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[PRODUCT (Basic, Advanced Anesthesia Monitoring

Copyright © 2018 IQ4I

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LIST OF COMPANIES MENTIONED IN THE REPORT

Company Name Headquarters

Acoma Medical Industry Co., Ltd Japan

BPL medical Technologies India

Cortical Dynamics Australia

Criticare Technologies Inc. U.S.

Draegerwerk AG & Co. Germany

Fresenius Kabi Germany

Fukuda Denshi Co. Limited Japan

General Meditec China

Heyer Medical AG Germany

Infinium Medical U.S.

Iradimed Corporation U.S.

Löwenstein group Germany

Masimo Corporation U.S.

Medasense Biometrics Limited Israel

Medtronic , PLC Ireland

Micropore Inc. U.S.

Mindray Medical International Limited China

Monitor Mask Inc U.S.

IQ4I Research & Consultancy Pvt. Ltd. Page 16

Company Name Headquarters

Monitor Technik (Narcotrend) Germany

Nihon Kohden Corporation Japan

Norvap Medical U.K.

Opto Circuits Limited India

Philips The Netherlands

TMS Medical Turkey

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ANESTHESIA MONITORING DEVICES GLOBAL MARKET GROWTH,

North America: Europe:

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2 ANESTHESIA MONITORING DEVICES GLOBAL MARKET,

ANESTHESIA MONITORING DEVICES GLOBAL MARKET REVENUE,

Basic Anesthesia Monitoring Advanced Anesthesia Monitoring

IQ4I Research & Consultancy Pvt. Ltd. Page 21

ADVANCED ANESTHESIA MONITORING DEVICES GLOBAL MARKET

Depth of Anesthesia Anesthesia Gas Monitor

DEPTH OF ANESTHESIA MONITORING DEVICES (STRIPS) TOTAL

Market Analysis 2016 2017 2018 2024

Market Penetration (%) XX XX XX XX

IQ4I Research & Consultancy Pvt. Ltd. Page 22

ADVANCED ANESTHEISA MONITORING DEVICES & DEPTH OF ANESTHESIA

Anesthesia Gas Monitor Standalone Capnography Monitors

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