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Global Anesthesia Equipment Market
Dublin, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The "Global Anesthesia Equipment Market by Type (Anesthesia Devices (Workstation, Ventilators, Monitors), Disposables (Circuits, Endotraceal Tubes)), Application (Orthopedics, Neurology, Urology), End-user (Hospitals, Clinics, ASC) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global anesthesia equipment market is on an upward trajectory, poised to soar from USD 8 billion in 2023 to a projected USD 11 billion by 2028, representing an impressive CAGR of 6.7%
Driving this surge are the relentless strides in technological innovation within anesthesia equipment, a surge in surgical procedures, and the expanding prevalence of chronic disorders. Amidst these catalysts, challenges emerge in the form of unfavorable healthcare system reimbursements and a scarcity of medical professionals, contributing to a tempering effect on market expansion.
However, the integration of novel technologies, such as wireless communication, has revolutionized anesthesia delivery control and patient monitoring during procedures. Notably, the application of artificial intelligence, particularly machine learning, demonstrates significant potential to reshape the landscape, ushering in enhanced patient care.
With numerous recent advancements dedicated to bolstering patient safety, optimizing efficiency, and curbing healthcare costs, the horizon of the anesthesia equipment sector is illuminated with promise.
Esteemed industry players, including GE Healthcare, Dragerwerk Ag & Co. KGAA, Koninklijke Philips N.V., Ambu AS, and Medline Industries Inc., stand at the forefront of shaping this evolving landscape.
Anesthesia workstations segment accounted for a larger share of the anesthesia devices market
In 2022, the anesthesia workstations segment accounted for a larger share of the anesthesia devices market. This segment is also estimated to grow at a higher CAGR during the forecast period. Growth in this segment can primarily be attributed to the increasing number of surgical procedures and technological advancements.
The cardiology will grow at highest CAGR during the forecast period
Based on application, the cardiology will grow at highest CAGR during the forecast period. Growth in this segment can primarily be attributed to the increasing prevalence of cardiovascular diseases, the growing demand for cardiac surgeries.
Asia-Pacific will grow at highest CAGR during the forecast period
In 2022, Asia-Pacific will grow at highest CAGR during the forecast period. Major factors driving the growth of this market are the existence of a well-developed healthcare system in Japan with universal health insurance coverage and the focus of countries such as China and India on healthcare infrastructure improvements to serve large populations of patients with critical illnesses, including cancer and tumors.