During surgeries, achieving adequate depth of anesthesia is necessary. General anesthesia is used to induce unconsciousness in a patient, which helps prevent them from feeling pain during surgical procedures. Anesthetic depth refers to the degree to which the central nervous system is depressed when general anesthesia is introduced in the body. This depth depends on the potency, concentration, and mode of administration of anesthesia. The action of anesthesia is reversible and the assessment of depth of anesthesia is desirable to reduce the chances of intraoperative awareness of the patient.
COVID-19 Impact Analysis
- COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
- Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19.
- With COVID-19, the supply chain of the raw materials required to manufacture depth of anesthesia monitoring devices has been disrupted in many countries. In addition, the market growth of depth of anesthesia monitoring devices is declining, as manufacturers of these medical devices have slowed down their production due to the pandemic. Therefore, COVID 19 is expected to have a significant impact on the depth of anesthesia monitoring devices market.
Top Impacting Factors
Increase in prevalence of the number of cases of patients suffering from chronic illnesses, such as cancer, is the primary factor that has led to the growth of the depth of anesthesia monitoring devices market. This is attributed to the fact that patients suffering from such illnesses often require surgeries where anesthesia is used.
With a rising population all over the world, the number of people having personal vehicles has increased. This has led to an increasing rate of road accidents. The victims of such accidents are often put on general anesthesia to reduce their pain. This factor has notably contribute toward the growth of the market.
With the proper depth of anesthesia monitoring devices, the risks of anesthesia under dosages are decreased, which helps in lesser complications during surgery. Hence, this is one of the factors propelling the growth of the depth of anesthesia monitoring devices market.
However, high cost associated with the maintenance and installation of the depth of anesthesia monitoring devices may impede the growth of the market.
Key Market Trends
- The modules segment of the depth of anesthesia monitoring devices market held a major share in 2020, owing to widespread use of modules in different clinical settings. In addition, modules can help measure patient state index (PSI) and direction of arrival (DOA) parameters.
- The hospitals segment accounted for the largest share in the United States market for depth of anesthesia monitoring devices. This is be attributed to the growing patient pool in North America that requires surgeries.
- In 2016, Philips, Inc. and Masimo Corporation entered into a partnership for joint sales and marketing of Masimo’s technologies in the countries of North America and certain markets in Europe and Asia.
- In 2018, Masimo Corporation introduced its RD Sedline EEG sensor, which can be used with the Masimo SegLine Brain Function Monitoring system during surgeries done after anesthetic procedures.
Key Benefits of the Report
- This study presents the analytical depiction of the depth of anesthesia monitoring devices industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the depth of anesthesia monitoring devices market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Depth of Anesthesia Monitoring Devices Report
- Which are the leading players active in the depth of anesthesia monitoring devices market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the depth of anesthesia monitoring devices market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps in the market?
- What are the impacts of COVID-19 on the industry?
- What are depth of anesthesia monitoring devices?
- What are the current and predicted trends of the market?
Depth of Anesthesia Monitoring Devices Market Report Highlights
By Device Type
By End User
Key Market Players
Masimo Corporation, GE Healthcare, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Mennen Medical Ltd, Medtronic Public Limited Company, Philips Healthcare