Depth of Anesthesia Monitoring Market by Product, Device, Mode of Purchase, End User - US Forecast to 2024

Depth of Anesthesia Monitoring Market by Product, Device, Mode of Purchase, End User - US Forecast to 2024

  • June 2019 •
  • 59 pages •
  • Report ID: 5791877 •
  • Format: PDF
Increasing number of surgeries in the US to drive the overall growth of the US depth of anesthesia monitoring market
The US 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 increasing number of surgeries and rising patient volume in hospitals in the US are the major factors driving the growth of this market. However, depth of anesthesia monitoring devices are expensive and have considerably high installation and maintenance costs. Owing to this, their adoption is limited in small outpatient settings and clinics.

Consumables segment held the largest share of the US depth of anesthesia monitoring market in 2018
By Product type, the consumables segment accounted for the largest share of the market in 2018.This can primarily be attributed to the wide adoption of single-use sensors and the requirement of the repeat purchase of consumables.

On the other hand, depth of anesthesia monitoring instruments have an average life span of 10 years and are generally given free of cost if the purchaser is ready to sign a long-term contract for consumables.

Direct purchase of depth of anesthesia monitoring devices to gain traction during the forecast period
Direct purchasing is witnessing an upward trend in the supply chain of depth of anesthesia monitoring devices in the US.The role of GPOs in medical device purchasing is shrinking because GPOs focus on cost and volume to earn administrative fees (which they charge as a certain percentage of the total purchase value) from manufacturers rather than on the quality and functionality of products.

In the coming years, large hospitals may opt for direct channels, but small and medium-sized hospitals are likely to stick with GPOs for the purchase of medical devices.

In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the US depth of anesthesia monitoring market. The breakdown of the primary participants is provided below:
•?By Designation: C-level Executives: 27%, Directors: 18%, and Others: 55%
•?By Company Type: Tier I: 40%, Tier II: 30%, and Tier III: 30%

Some of the key players operating in the US depth of anesthesia monitoring market are Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Medtronic Public Limited Company (Ireland), GE Healthcare (US), Mennen Medical Ltd. (Israel), Masimo Corporation (US), and Philips Healthcare (Netherlands). These companies relied on strategic partnerships, acquisitions, and new product launches to increase their presence and reach in the US depth of anesthesia monitoring market.

Research Coverage:
This market study covers the US depth of anesthesia monitoring market across various segments.It aims at estimating the market size (in terms of value and volume) and the growth potential of this market across different segments (by product, device type, end user, and mode of purchase).

The study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing information regarding the closest approximations of the US depth of anesthesia monitoring market and its sub-segments.It will help stakeholders to understand the competitive landscape, gain insights on positioning their businesses better, and plan suitable go-to-market strategies.

Also, through this report, stakeholders can understand the pulse of the market and gain important information on the key market drivers, restraints, and opportunities.
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