Anesthesia Devices Market Size (2024 - 2029)

Anesthesia Devices Market Analysis

The Anesthesia Devices Market size is estimated at USD 17.09 billion in 2024, and is expected to reach USD 24.77 billion by 2029, growing at a CAGR of 7.70% during the forecast period (2024-2029).

Advancements in anesthesia delivery and monitoring technology, a rise in the number of surgical procedures requiring anesthesia, the increasing prevalence of chronic diseases, and the growing geriatric population are the major factors enhancing the market's growth.

A steep rise in the incidences of sports-related and spinal cord injury (SCI) and accidental fracture cases resulted in surgical procedures, thus leading to more usage of anesthesia devices. For instance, according to the data published by the National Spinal Cord Injury Statistical Center in 2023, the annual incidence of traumatic spinal cord injury (tSCI) was approximately 54 cases per one million people in the United States, which accounted for 18,000 new SCI cases annually. The estimated number of people with SCI living in the United States in 2023 was approximately 305,000, varying from 257,000 to 388,000. Thus, the high prevalence of spinal cord injury is expected to increase the demand for surgical procedures, thereby boosting the usage of anesthesia devices and contributing to market growth.

The increasing geriatric population prone to chronic diseases is likely to fuel the demand for anesthesia devices used during surgical procedures, contributing to market growth. For instance, ⁠according to the UN Population Fund's India Ageing Report 2023, published in September 2023, the number of people aged 60 years and above is expected to rise from 149 million in 2022 to 347 million by 2050. Thus, the growing geriatric population prone to chronic diseases is anticipated to increase the usage of anesthesia devices during surgical procedures and drive market growth.

The increasing technological innovations in anesthesia monitoring technology are also expected to boost the market's growth. For instance, according to an article published by PubMed Central in July 2022, a study was conducted in which an intelligence model was developed that helped predict the depth of anesthesia from a single-channel electroencephalograph (EEG) signal. Thus, developing such newer technologies is also expected to enhance the market's growth.

Therefore, the rising prevalence of chronic diseases, rising surgical procedures, and increasing development of newer technologically advanced anesthesia products are likely to boost the growth of the market during the forecast period. However, the high cost of equipment, difficulties associated with the usage of anesthesia devices, and reimbursement and regulatory issues are expected to hinder the market's growth.

Anesthesia Devices Industry Segmentation

As per the scope of the report, anesthesia devices are used to deliver anesthetic agents and check a patient's response to anesthesia during a surgical process. The requirement of these devices depends upon the type of surgery being performed, and it differs in every case. These devices help the anesthetist deliver, control, and monitor the dose of anesthesia.

The anesthesia devices market is segmented by product type and geography. By product type, the market is segmented into anesthesia machines and disposables and accessories. By product types, the market is sub-segmented into anesthesia workstations, anesthesia delivery machines, anesthesia ventilators, and anesthesia monitors. By disposables and accessories, the market is sub-segmented into anesthesia circuits (breathing circuits), anesthesia masks, endotracheal tubes (ETTs), laryngeal mask airways (LMAs), and other disposables and accessories. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. For each segment, the market size is provided in terms of value (USD).