Patient-centric Monitoring Solutions Gaining Prominence during COVID-19

Even after a year when the first coronavirus case was registered in November 2019 in Wuhan, China, the global economy is still experiencing a slowdown in business activities. However, sales of patient monitoring devices have grown during the COVID-19 pandemic. The healthcare industry has taken the onus of adopting value-based and patient-centric monitoring solutions to improve medical outcomes. This is especially true in countries such as the U.S., India, Brazil, and Spain, owing to a second wave of the pandemic.

In order to reduce the stress over healthcare workers, hospitals and clinics are avoiding compromise over the stock of essential monitoring devices. This is benefitting manufacturers in the depth of anesthesia monitoring devices market who are increasing efforts to ramp up their output capacities to prevent supply shocks at healthcare settings. The growing need of distant monitoring solutions is anticipated to boost the growth of the depth of anesthesia monitoring devices market.

depth of anesthesia monitoring devices market segmentation

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Interprofessional Team Approach Helps Overcome Shortcomings of Artifacts in Outcomes

Bispectral index (BIS) has exhibited a positive cost-benefit ratio and lower morbidity than most invasive monitoring methods. However, it has been found that interference from medical devices causes artifacts, which impair the ability of BIS monitors to assess changes in the depth of anesthesia accurately. Hence, manufacturers in the depth of anesthesia monitoring devices market are becoming aware about the interprofessional team approach that involves participation of surgeons, nurse anesthetists, and other support staff, which ensure best possible patient outcomes.

The depth of anesthesia monitoring devices market is projected to cross the value mark of US$ 400 Mn by the end of 2030. Favorable market drivers such as the emergence of real-time depth of anesthesia monitoring systems, with the help of deep neural network technology, is aiding in market expansion.

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Cortical Activity Index Algorithm Leverages Brain Activity Signal Modeling Method

Quantifying the depth of anesthesia based on brain activity signal modeling is one of the new strategies adopted by healthcare professionals. Companies in the depth of anesthesia monitoring devices market are creating a strong research base in new algorithms such as the cortical activity index (CAI), which is based on brain activity signals. Since most of the depth of anesthesia monitors do not include brain activity signal modeling, device manufacturers are increasing their focus in new algorithms such as the cortical activity index.

Anesthetics are known to suppress the cortical neuronal activity. Hence, the mechanism of general anesthetics is not completely understood. Hence, companies in the depth of anesthesia monitoring devices market are adopting the cortical activity index algorithm to gain proficiency in developing systems based on the brain activity signal modeling.

Improving Anesthetic Gas Delivery with Very Low Concentrations Aids in Fast Recovery

Companies in the depth of anesthesia monitoring devices market are focusing on improving the anesthetic gas delivery to address cumulative requirements of increased patient safety and flexibility in patient care. Manufacturers are making anesthetic delivery more efficient by minimizing the use of anesthetic agents whilst maintaining optimal sedation for patients. As such, innovations in sub systems such as vaporizers, ventilators, circle absorbers, and the likes are supporting efficiency in anesthetic delivery. This has led to the concept of anesthesia workstation in the depth of anesthesia monitoring devices market.

Anesthesia workstation helps clinicians to provide comprehensive care to patients. Moreover, the evolution of the mechanical ventilation technology is contributing toward better gas delivery during complex lung conditions. Healthcare professionals are increasing efforts to maintain lowest mean airway pressure to reduce complications of volutrauma and baratrauma. The evolved technology in vaporizers ensures lowest possible concentrations of anesthetic agents and helps patients to recover fast after surgery.

Customizing Anesthetic Delivery with BIS Monitoring Improves Turnaround Time in ICUs

Advanced technologies hold promising potentials in patient monitoring. Innovations in neuro-muscular transmission (NMT) and anesthesia gas module (AGM) are creating revenue opportunities for device manufacturers in the depth of anesthesia monitoring devices market. Companies are bolstering their credibility credentials by adhering to regulatory norms in order to define a spectrum that can be used universally to monitor and maintain an adequate depth of anesthesia during surgeries. As such, BIS monitoring is being considered as the gold standard for customizing anesthetic delivery and significantly reduce the concentration of anesthetic agents compared to traditional methods.

Companies in the depth of anesthesia monitoring devices market are increasing efforts to facilitate better turnaround time of patients in intensive care units (ICUs) and post-surgery. Low anesthetic concentrations are also associated with reduced environmental footprint, owing to concerns regarding climate change.

Growing Import of Premium Devices Creates Revenue Opportunities in India

Manufacturers operating in the depth of anesthesia monitoring devices market are tapping into incremental opportunities in India. Increasing import rates of the nation are associated with market growth. Moreover, tenders are being invited by the Indian Government in order to encourage the purchase of premium products by smaller nursing homes and medical facilities. Healthcare providers in Tier 1 and Tier 2 cities are procuring superior value from a range of premium depth of anesthesia systems. Reliable after-sale services and affordable cost of depth of anesthesia monitoring devices are being preferred by clinicians in India.

Moreover, the proliferation of the digital technology is fueling growth of India depth of anesthesia monitoring devices market. The rise in efficiency of anesthetic gas delivery has gained prime importance in the nation’s healthcare facilities. Technological advancements are being leveraged with increased R&D investments, which help to enhance the reliability of devices.

depth of anesthesia monitoring devices market infographic

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Analysts’ Viewpoint

Wireless and Bluetooth technologies at anesthesia workstations are keeping economies running during the COVID-19 pandemic. Improved sub systems such as ventilators, vaporizers, and digital rotometers are leveraging anesthetic gas delivery. The depth of anesthesia monitoring devices market is anticipated to register a modest CAGR of ~5% during the forecast period, as most depth of anesthesia systems lack brain activity signal modeling. Hence, companies should gain a strong research base in new algorithms such as the cortical activity index to advance in brain activity signal modeling. In addition, the burgeoning import rates in India is creating business opportunities for device manufacturers.

Depth of Anesthesia Monitoring Devices Market: Overview

  • Monitoring depth of anesthesia is quite essential during surgical procedure. Most of the surgical procedures would not be possible without the patient entering a state of general anesthesia.
  • Anesthetic depth is the degree to which the central nervous system (CNS) is depressed by a general anesthetic agent, depending on the potency of the anesthetic agent and the concentration in which it is administered
  • The global depth of anesthesia monitoring devices market has experienced significant growth in the last decade due to rise in prevalence of major chronic diseases and surgical procedures
  • Different types of technologies are used in monitoring depth of anesthesia, including bispectral index, entropy, patient state index (PSI), and others. Bispectral index is most commonly used in monitoring depth of anesthesia.

Market Drivers: Overview

  • Rise in the number of surgeries increases the demand for depth of anesthesia monitoring devices. According to the CDC, 32% of all live births in the U.S. were cesarean deliveries. Cesarean section is one of the most common procedures performed in the European Union (EU). This procedure is performed 1.4 million times in Europe annually. Globally, 21% of babies are born via C-section and around 32.7 of babies in Australia are born via C-section. Increase in the number of injury cases is projected to boost the growth of the global depth of anesthesia monitoring devices market during the forecast period.
  • Increase in the geriatric population directly affects the development of depth of anesthesia monitoring devices. Elderly people are highly susceptible to chronic diseases and undergo different surgeries. Rise in global population aged 65 years or above is anticipated to have a significant impact on the depth of anesthesia monitoring devices market in the near future. According to a report by the U.S. Census Board in 2016, people aged 60 years or above represented nearly 18% of the country’s total population and the percentage is expected to increase to 21% by 2030.

Market Segmentation: Depth of Anesthesia Monitoring Devices Market

  • In terms of technology, the global depth of anesthesia monitoring devices market has been divided into bispectral index, entropy, patient state index (PSI), and others. The bispectral index segment is likely to dominate the global depth of anesthesia monitoring devices market during the forecast period.
  • Based on device type, the global depth of anesthesia monitoring devices market has been classified into modules, bundled devices, and standalone devices
  • In terms of end user, the global depth of anesthesia monitoring devices market has been categorized into hospitals and clinics & ambulatory surgical centers. The hospitals segment dominated the global depth of anesthesia monitoring devices market in terms of revenue in 2019.
  • Each of the segments has been analyzed in detail for market trends, recent trends, and developments; drivers, restraints, opportunities, and useful insights. The report provides current and expected revenue (US$ Mn) for each of these segments from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2020 to 2030, along with market size estimations.

Regional Overview: Depth of Anesthesia Monitoring Devices Market

  • In terms of region, the global depth of anesthesia monitoring devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
  • The current and expected market revenue (US$ Mn) of these regional markets and their major countries have been provided in the report from 2018 to 2030, with their CAGRs from 2020 to 2030
  • The study also offers a list of recommendations, highlights, and useful insights of the global depth of anesthesia monitoring devices market, which would help new companies willing to enter the market and existing companies to increase market share and in the decision-making process

Major Players

  • The depth of anesthesia monitoring devices market report concludes with the company profiles section, which includes key information about major players in the global depth of anesthesia monitoring devices market
  • Leading players analyzed in the depth of anesthesia monitoring devices market report include
    • Medtronic plc
    • GE Healthcare (General Electric Company)
    • Nihon Kohden Corporation
    • Koninklijke Philips N.V.
    • Spacelabs Healthcare (OSI Systems, Inc.)
    • Masimo
    • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • Each of these players has been profiled in the depth of anesthesia monitoring devices market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments

Depth of Anesthesia Monitoring Devices Market – Scope of the Report

TMR’s report on the global depth of anesthesia monitoring devices market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators for the market during the forecast period from 2020 to 2030. The report provides revenue of the global depth of anesthesia monitoring devices market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global depth of anesthesia monitoring devices market from 2020 to 2030.

The report is prepared after an extensive research. Primary research involved bulk of the research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the depth of anesthesia monitoring devices market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the global depth of anesthesia monitoring devices market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the global depth of anesthesia monitoring devices market. These serve as valuable tools for existing market players as well as for entities interested in participating in the global depth of anesthesia monitoring devices market.

The report delves into the competition landscape of the global depth of anesthesia monitoring devices market. Key players operating in the global depth of anesthesia monitoring devices market are identified and each one of these is profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are the attributes of players in the global depth of anesthesia monitoring devices market profiled in this report.

Key Questions Answered in Depth of Anesthesia Monitoring Devices Market Report

  1. What is the sales/revenue generated by depth of anesthesia monitoring devices across all regions during the forecast period?
  2. What are the opportunities in the global depth of anesthesia monitoring devices market?
  3. What are the major drivers, restraints, opportunities, and threats in the market?
  4. Which regional market is set to expand at the fastest CAGR during the forecast period?
  5. Which technology segment is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
  6. What are the market positions of different companies operating in the global market?

Depth of Anesthesia Monitoring Devices Market – Research Objectives and Research Approach

The comprehensive report on the global depth of anesthesia monitoring devices market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global depth of anesthesia monitoring devices market in terms of technology, device type, end user, and region. Key segments under each criteria are studied at length, and the market share for each of these at the end of 2030 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global depth of anesthesia monitoring devices market.

Depth of Anesthesia Monitoring Devices Market – Segmentation

TMR’s study on the global depth of anesthesia monitoring devices market includes information divided into four segments: technology, device type, end user, and region. Changing industry trends and other crucial market dynamics associated with these segments of the global depth of anesthesia monitoring devices market are discussed in detail.

Technology

  • Bispectral Index
  • Entropy
  • Patient State Index (PSI)
  • Others

Device Type

  • Modules
  • Bundled Devices
  • Standalone Devices

End User

  • Hospitals
  • Clinics & Ambulatory Surgical Centers

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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