(PharmaNewsWire.Com, May 06, 2021 ) According to research report the Depth of Anesthesia Monitoring Market is projected to grow from USD 141 million in 2018 to USD 170 million by 2024, at a CAGR of 3.2% during the forecast period.
The growth of this market is primarily driven by the growing patient pool in hospitals in the US and the increasing number of surgeries.
Based on product type, the US depth of anesthesia monitoring market is segmented into devices and consumables. In 2018, the consumable segment accounted for the largest share of the market owing to the need for repeat purchase of consumables and the high adoption of single-use sensors. On the other hand, the average life span of depth of anesthesia monitoring devices is around 10 years, and these devices can be provided at no cost if a long-term contract is signed for the purchase of consumables.
On the basis of device type, the US depth of anesthesia monitoring market is segmented into modules, bundled devices, and standalone devices. The modules segment accounted for the largest share of this market in 2018 majorly due to their widespread use in different clinical settings as they can be integrated into different DOA devices.
Based on end user, the US depth of anesthesia monitoring market is segmented into hospitals and ambulatory surgical centers & Clinics. The hospitals segment accounted for the largest share of this market in 2018 and is estimated to grow at a higher CAGR during the forecast period majorly due to the growing patient pool in hospitals and the increasing number of surgeries. As the installation and maintenance costs of depth of anesthesia monitoring devices are very high, large hospitals usually can afford to invest in these devices as compared to small clinical settings.
The prominent players operating in the Depth of Anesthesia Monitoring Market are GE Healthcare (US), Mennen Medical Ltd. (Israel), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Medtronic Public Limited Company (Ireland), Masimo Corporation (US), and Philips Healthcare (Netherlands).
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