Bispectral Index (BIS) Monitor Market: Introduction

  • Bispectral Index (BIS) monitor are anesthesia monitoring devices used to measure the depth of anesthesia that is given to the patients before surgical or medical procedures  
  • Electroencephalogram (EEG), which measures the electric activity of the brain, is used to measure the depth of anesthesia. The BIS system processes the signal produced by EEG and converts it to a waveform on the BIS monitor.
  • The BIS monitor comprises of two components: an electrode that is connected to the monitor and adhesive electrode sensor strip that is placed on patient’s forehead. The BIS monitor calculates the data received by sensor strips and displays the results in numeric values ranging from 0 to 100.  Each range of numeric value represents the degree of sedation. Based on the numeric value shown on the BIS monitor, anesthetist modifies the dosage of sedation.
  • BIS monitor help prevent either over or under sedation of patients, which is possible with the use of vital sign and subjective sedation scales

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Key Drivers of Global Bispectral Index (BIS) Monitor Market

  • The global bispectral index (BIS) monitor market is primarily driven by significant rise in the number of surgical procedures across the globe. For instance, it is estimated that more than 9 million abdominal and pelvic surgeries in the U.S. and over 30 million abdominal and pelvic surgeries are performed globally every year. Moreover, according to the International Society of Aesthetic and Plastic Surgeons (ISAPS), around 23 million cosmetic surgeries (invasive and non-invasive) were performed in 2013 (the number is subjected to 95 ISAPS member countries).
  • Rapidly increasing number of patients with chronic disorders requiring mechanical and other forms of ventilation is likely to fuel the usage of BIS monitor during the forecast period
  • Technological advancements in BIS monitor, new product development and shift from conventional method of sedation measurement to accurate and precise measurement via BIS monitor are factors that are estimated to drive the global bispectral index (BIS) monitor market monitor during the forecast period.
  •  BIS monitor do not perform well with nitrous oxide or ketamine. With the use of these drugs, BIS monitor show unchanged values or increased values. This monitor is likely to restrain the growth of the market during the forecast period.
  • Availability of alternative technologies, such as SNAP EEG monitor system, auditory evoked potential monitor, patient state analyzer 4000, etc., to measure the depth of anesthesia is likely to hamper the growth of the bispectral index (BIS) monitor in the near future

4 Channel Monitor Sub-segment to Offer Attractive Opportunities

  • Based on product type, the global bispectral index (BIS) monitor market can be divided into components and accessories. The components segment can be further classified into 2 channel monitor and 4 channel monitor. The 4 channel monitor sub-segment is anticipated to lead the components segment during the forecast period.
  • The accessories segment is further categorized into 4 electrode sensors, bilateral sensors, and others

Hospitals Segment to Dominate Global Market

  • In terms of end-user, the global bispectral index (BIS) monitor market can be classified into hospitals, ambulatory surgery centers, and specialty clinics. The hospitals segment is expected to dominate the global market during the forecast period.
  • Hospitals are potential users of BIS monitor, as majority of surgical procedures are performed in hospitals. The ambulatory surgical centers segment is projected to be the fastest growing segment during the forecast period.

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Asia Pacific Bispectral Index (BIS) Monitor Market to Expand Rapidly

  • In terms of region, the global bispectral index (BIS) monitor market monitor can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global market during the forecast period. However, the region is anticipated to lose market share by the end of 2027.
  • Rapidly growing orthopedic & spine surgeries, cardiovascular surgeries, and abdominal surgeries, well established healthcare infrastructure, etc. are likely to contribute to the dominant share of North America. Moreover, early adoption of technologically advanced products in health care facilities in the region, growing demand for BIS monitor, and a large base of medical device companies in the region are likely to fuel the growth of the bispectral index (BIS) monitor market monitor in the region during the forecast period.
  • Bispectral index (BIS) monitor market in Asia Pacific is projected to expand at a high CAGR during the forecast period, owing to rapidly growing surgical procedures in densely populated countries, such as India, China, and Hong Kong, and rapidly improving health care infrastructure

Key Players Operating in Global Market

The global bispectral Index (BIS) monitor market is highly consolidated with a few global players accounting for majority of the market share. Key players operating in the global bispectral index (BIS) monitor market are:

  • Medtronic Inc.
  • GENERAL ELECTRIC COMPANY
  • Cardinal Health
  • Drägerwerk AG
  • Heyer Medical AG
  • Intersurgical Limited
  • Philips Healthcare

Global Bispectral Index (BIS) Monitor Market: Research Scope

Global Bispectral Index (BIS) Monitor Market, by Product Type

  • Components
    • 2 Channel Monitor
    • 4 Channel Monitor
  • Accessories
    • 4 Sensors
    • Bilateral Sensors
    • Others

Global Bispectral Index (BIS) Monitor Market, by End-user

  • Hospitals
  • Ambulatory Surgery Centers
  • Specialty Clinics

Global Bispectral Index (BIS) Monitor Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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
  • Europe
  • 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.

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