Market Trends of China Anesthesia Devices Industry
This section covers the major market trends shaping the China Anesthesia Devices Market according to our research experts:
Anesthesia Monitors is Expected to Register a High CAGR in the China Anesthesia Devices Market Over the Forecast Period
The anesthesia monitors segment is expected to witness significant growth in the China anesthesia devices market over the forecast period owing to the factors such as the increasing prevalence of chronic diseases such as cancer, cardiovascular, and others, which rises the number of surgical procedures in the country.
The rising burden of chronic diseases among the population is the key factor driving the market growth. For instance, according to an article published in March 2021, titled 'Changing profiles of cancer burden worldwide and in China: a secondary analysis of the global cancer statistics 2020', it has been observed that, in 2020, China was accountable for 24% of all newly diagnosed cases and 30% of all cancer-related fatalities worldwide. In addition, in 2020, the age-standardized incidence rate of cancer in China was 204.8 per 100,000. Also, according to the Global Cancer Observatory's (updated in March 2022) forecasts, in China, 4,568,754 new cancer cases were diagnosed in 2020, and 3,002,899 cancer fatalities. The presence of a large population affected by cancer will increase the demand for inhalation anesthetics as the number of surgeries rises, thus, boosting the growth of the overall market.
Furthermore, according to a study published in the Journal of the American College of Cardiology in June 2020, the burden of cardiovascular disease (CVD) in China is very high, owing to highly prevalent and poorly controlled risk factors resulting from changing sociodemographic structure and lifestyles in the country's large population. This is expected to increase the number of surgeries, thereby propelling the demand for anesthetic monitoring devices across all hospital settings.
Moreover, the development of Covid-19 has also increased demand in China for anesthetic monitoring devices. For instance, a research article titled 'Chinese Society of Anesthesiology Expert Consensus on Anesthetic Management of Cardiac Surgical Patients With Suspected or Confirmed Coronavirus Disease 2019' published in June 2020, suggests the necessity of anesthesia monitoring during cardiovascular surgery in patients with COVID-19 and the importance in lowering the risk of mortality and morbidity. This increases the demand for anesthesia monitoring devices in China.
Thus, owing to the aforementioned factors, the studied market is expected to grow over the forecast period.
