The global depth of anesthesia monitoring market is expected to witness a growth rate of 3.6% during the forecast period (2019-2025). The global depth of anesthesia market is expected to grow at a steady rate during the forecast period. Depth of anesthesia monitoring machines are used to monitor the dose of anesthesia in a patient at the time of general anesthesia. A major factor contributing significantly to the growth of the market is the high number of surgeries in which general anesthesia is injected into the patient. Heart surgeries, knee & hip replacement surgery, brain-related surgeries are some of the common surgeries where general anesthesia is used widely. Apart from this, general anesthesia is also injected during major cosmetic surgeries.
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Surgeries related to the heart and brain are covered in healthcare insurance coverage in the US. Moreover, a number of times, depending on the condition, hip and knee replacement are also covered in healthcare insurance. Due to this, a person can afford better healthcare facilities by equipping the latest technology for maximum safety. As per the American Debt Health Insurance in 2018, the average price of heart valve replacement in the US is around $170,000 whereas for heat bypass it is $123,000. Hip replacement cost $40,000 and knee replacement cost $35,000. Most part of the surgery cost is covered by the insurance company which includes the cost of anesthesia also.
According to the American Hospital Association, more than 18.2 million outpatient surgeries were performed in the US as compared to 17.3 million in 2010. Moreover, in 2016, around 9 million inpatient surgeries were performed in the US. In addition, each year more than 600,000 knee replacements were performed in the US as per the data by the American Academy of Orthopaedic Surgeons. In England and Wales, more than 160,000 hip and knee replacement procedures are performed each year in the UK.
Apart from the surgeries which are covered in healthcare insurance, there is a significant market for cosmetic surgery which is not covered in healthcare insurance. In various major cosmetic surgeries, anesthesia is required. As per the American Society of Plastic Surgeons, around 1.81 million cosmetic surgeries were performed in 2018 as compared to 1.79 million in 2017. South Korea is also expected to be a major market for cosmetic surgery and hence for anesthesia monitoring devices.
The cosmetic surgery rate is highest globally in South Korea. One in three women in South Korea has undergone cosmetic surgery in their lifetime. Apart from that, a significant number of cosmetic surgeries were performed in countries including China, Brazil, Germany, India, and Mexico. As per the International Society of Aesthetic Plastic Surgery, Brazil accounts for the country for the cosmetic surgical procedures after the US in 2017. The low cost of surgery is one of the major factors of such a high number of surgeries in the country. Such facts reflect the increasing demand for general anesthesia, which in turn, contributes to the depth of anesthesia monitoring market growth.
Global Depth of Anesthesia Monitoring Market- Segmentation
By Technology
By End-User
Global Depth of Anesthesia Monitoring Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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