Market Analysis: Anesthesia
Those figures alone would provide ample evidence for growth in the market. Growth is further accentuated by the prevalence of such devices in new hospitals and health centers, as well as in the home healthcare market.
Sat Mar 01 2014
Market Analysis: Anesthesia
The worldwide market for anesthesia and respiratory devices could exceed $14 billion by 2017, at a 4.7 percent compound annual growth rate (CAGR), pushed along by “the huge patient population suffering from respiratory diseases such as chronic obstructive pulmonary disease (COPD) and the availability of medical devices to treat obstructive sleep apnea and COPD,” according to a report from ASD media.
The numbers of those suffering from such diseases are staggering, ASD notes: 300 million people are battling OSA, including as many as 30 to 80 percent of seniors. Anywhere from 400 to 600 million people are stricken with COPD, at least 12 million of whom are Americans.
Those figures alone would provide ample evidence for growth in the market. Growth is further accentuated by the prevalence of such devices in new hospitals and health centers, as well as in the home healthcare market.
Managing those devices from a centralized location also helps drive efficiencies in data, patient safety and the allocation of services institution-wide, which ASD forecasts “will result in an increase in the adoption rate of anesthesia and respiratory care devices, leading to a growth of the market.”
Contributing to that growth will be the further automation of patient medical records, ASD reports, which will necessarily be integrated within devices as they become “smarter” and further connected to a seamless network of health information.
“In the case of anesthesia care, the identification of key information quickly and easily is critical to anesthesia delivery practice, and this has increased the importance of information systems which can quickly record and retrieve this data,” a release accompanying the report reads.
One such technology making this leap to the next level of patient care is the Siemens Healthcare Centricity Anesthesia system, “an advanced clinical information management system designed for anesthesia,” that can communicate real-time data to treatment providers to drive more successful and higher-quality treatment.
A report from Markets and Markets also notes that the growth of “Medical tourism and rising healthcare expenditure in emerging economies” will yield “growth opportunities for…anesthesia devices as new healthcare facilities come up in these regions.”
The ASD report names the top manufacturers in the field as: Covidien, Phillips Respironics, Resmed and Draegerwerk AG; together, the report notes, they commanded as much as one-third of the global market share in 2010, with Draegerwerk AG and GE Healthcare “dominat[ing] the market for anesthesia machines” on the strength of their brand reputation and longevity in the field. Other manufacturers of note, according to a report from Markets and Markets, include Getinge and Teleflex.