Anesthesia is a medical term that means insensitivity to pain. Anesthesia is widely used during surgical procedures to bring unconsciousness to patients. Anesthesia vaporizers are devices that convert liquid inhalation agents into vapors. This vapor and oxygen are collectively delivered to the patient via inhalation route, primarily during pre-surgical procedures. An anesthesia delivery system typically consists of a machine that contains a breathing circuit. The necessity of these devices depends on the type of surgery performed. The concentration of dose differs in every case.
With advancements in surgical procedures and technological improvements, the average life expectancy of individuals has increased significantly. Rise in the geriatric population worldwide is amongst the important drivers of the global anesthesia vaporizers market. The reasons behind them are, the geriatric population is highly prone to the degenerative diseases, infections and chronic illnesses which ultimately results in an increased in incidences of surgeries and therapeutics, as ageing peoples lacks immunity to fight against them. This requires continuous monitoring, which propels the global anesthesia vaporizers market. Newly developed anesthesia vaporizer devices come with an advanced decision-support system (DSS), which also supports the monitoring capabilities; for instance, end-tidal concentrations of carbon dioxide and oxygen, inhalation anesthetics, and transcutaneous oxygen saturation. These advancements provide data analysis to clinicians and surgeons, which can help them take decisions during surgical procedures or other therapeutic treatments. Consequently, a few of the side-effects involved such as cognitive disturbances and post-operative delirium related to anesthesia, primarily in elderly patients, act as restraints for the market. Rise in the cost of surgical procedures and instruments and poor reimbursement policies are also important factors likely to hamper the global anesthesia vaporizers market during the forecast period.
The global anesthesia vaporizers market can be segmented on the basis of product, agent specificity, and end-user. Based on product, it can be segmented into plenum vaporizers and drawover vaporizers. Based on agent specificity, the anesthesia vaporizers market can be segmented into agent-specific and multiple agents. Based on end-user, the market can be segmented into hospitals, ambulatory surgical centers, clinics, and nursing homes. Rise in the number of hospitals, clinics, ambulatory surgical centers, and nursing homes and the availability of advanced infrastructure are a few factors responsible for growth of the anesthesia vaporizers market. Additionally, presence of skilled personnel in hospitals has significantly fueled the anesthesia vaporizers market.
Geographically, the global anesthesia vaporizers market has been segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is a major market for anesthesia vaporizers, due to the rising number of surgeries in the region led by elevated awareness amongst surgeons about the benefits of anesthesia devices. Additionally, with widespread technological advancements and increasing competition in the market, demand for superior technological advancements for better results has been increasing. The market in Asia Pacific is anticipated to witness high growth during the forecast period, increased awareness about health care, unmet needs of the large population, rapidly developing health care network, rise in the disposable income, and favorable reimbursement policies in the region. These factors have also made the practice of advanced techniques in anesthesia monitoring easier in the region.
Major players operating in the global anesthesia vaporizers market are Drägerwerk, GE Healthcare, Penlon, Meditec International England, Oricare, Spacelabs Healthcare, Beijing Siriusmed Medical Device, Baxter International, Inc., Intersurgical Limited, Medtronic, Inc., Mindray Medical International Limited, Nihon Kohden Corporation, Philips Healthcare, and Smiths Medical, Inc. New collaborative developments and new product techniques are some of the strategic initiatives taken by the companies to remain in the competition.
Major players operating in the market are Biogen Idec, Inc., Bristol-Myers Squibb, Celgene Corporation, ERYTECH Pharma, F. Hoffmann-La Roche Ltd., Genzyme Corporation, GlaxoSmithKline Pharmaceuticals Limited, and Pfizer, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.