Market
Scenario:
The
anesthetic machine is used to deliver and support anesthesia under the direct
supervision of anaesthesiologists. The global anesthetic machine market was
valued at 9.4 billion in 2016 and which is expected to reach 14.75 billion at a
CAGR of 7.8 during the forecast period of 2016 to 2023.
These
figures swell when we include other specialties such as trauma and gynecology,
which are capturing a broader market. Advancements in anesthesia system
technology and the shift away from general anesthesia towards partial
anesthesia, coupled with the development of short-acting anesthetics is driving
a change in trend. Thus, the predominant continuous flow anesthetic machine or
Boyles anesthesia machine is giving way to the intermittent flow anesthetic
machine. Another trend catching on is the growing use of computer controlled
anesthesia and patient monitoring devices.
Portability
and miniaturization have led to growing adoption of anesthesia in point of care
surgeries. The growing capabilities of anesthetic devices such as the ability
to deliver variable flow, minimum low flow rate, scavenging systems to capture
waste gases, emergency systems such as oxygen flush systems and others are
driving the market.
The
market restraints of the anaesthetic market are the high cost of installation
and maintenance, scarcity of anesthesiologists, the risk of infection,
complications such as pain, and deaths due to overdose and others. The
mortality rate for general anesthesia is 1:10,000 as cited by many studies.
Thus, advancements in devices due to safety concerns is strongly correlated
with market growth.
Regional
analysis
North
America commands the most significant share of the market due to a large number
of surgeries and sizeable public expenditure on healthcare. The U.S. spends a
substantial proportion of the GDP on healthcare, of which approximately 16 % in
2016. However, the recent reimbursement cuts by the government of U.S. may
hinder the market.
Europe
market is dominated by Germany, France, and the U.K. Owing to the extensive
medical device industry of Germany. Poland, Spain, and Italy also have a
sizable market share of the European market.
Asia
Pacific region is expected to demonstrate the fastest growth for the anesthesia
machine market is owing to economic development and developing healthcare
infrastructure. China is expected to drive a considerable growth followed by
India. The leading domestic players, in China, are Tuoren Medical, Shengguang
Medical, and Qiangjian Medical, which account for approximately 16 % of the
local market share of China.
The
Middle East and Africa are led by Gulf economies of Saudi Arabia, UAE, Kuwait,
and Qatar. The Middle East is a market to watch owing to its high wealth and
the development of large hospital complexes in the region such as the King Fahd
hospital, Riyadh. The market is however dependent on petrodollar and the expat
population, which is a threat to its stability. The kingdom of Saudi Arabia
reduced its healthcare spending by 35 percent in the year 2016 to wean the
downfall of revenues owing to falling crude oil prices. Saudi Arabia and other
Gulf nations spend approximately 75 % of total healthcare expenditure through
public budgets which must be seen as a threat as well as opportunity for the
private players to capture the domestic market of Gulf economies.
Thus, the
short-term prospects for the Middle East region are expected to rise to
previous levels after 2018. The government is undertaking harsh fiscal
adjustment owing to weak oil price. However, the high and satisfactory foreign
reserves of Saudi Arabia, which equal over 95 % of GDP, and low public debt
stock of just 5.8 % of GDP in 2015 are enough to say that the cuts will not be
too drastic!
The Latin
America market is characterized by poor domestic capacity and capability of
production. China is expected to increase its share of the medical devices
imports of Brazil, especially in low-end devices. Among the regions of Brazil,
São Paulo, Minas Gerais, Bahia, Rio de Janeiro and Parana tops the healthcare
expenditure list. However, the differential regional healthcare availability
owing to extreme social and economic differentiation of the Brazilian
population is the prime threat to the market. The inadequate health care in its
vast rural areas, political turmoil, the weak Brazilian Real are the other
threats to the market.
Competitive
Landscape
Heyer
Medical AG, Fisher & Paykel Healthcare, Koninklijke Philips N.V, Draeger,
GE Healthcare, Covidien, Smiths Medical, Mindray DS USA Inc., and Teleflex Inc.
About
US:
Market
Research Future (MRFR), enable customers to unravel the complexity of various
industries through Cooked Research Report (CRR), Half-Cooked Research Reports
(HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market
Research & Consulting Services.
Contact
Us:
Market
Research Future
Office
No. 528, Amanora Chambers
Magarpatta
Road, Hadapsar,
Pune
- 411028
Maharashtra,
India
Phone:
+1 646 845 9312
Email:
sales@marketresearchfuture.com
No comments:
Post a Comment