Depth of Anesthesia Monitoring Market Research Report and Outlook by 2028

The global market for depth of anesthesia monitoring is anticipated to grow significantly, reaching an estimated US$ 280.83 million by 2028, up from US$ 203.32 million in 2021. This growth represents a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028. The primary driver of this market expansion is the increasing number of surgical procedures being performed worldwide. However, the high maintenance costs associated with depth of anesthesia monitors pose a challenge to the market's growth.

Understanding the four stages of anesthesia?analgesia or disorientation, excitement or delirium, surgical anesthesia, and overdose?is crucial as they significantly impact central nervous system (CNS) depression during surgical interventions. Inaccurate dosing or misjudgment of anesthesia depth can lead to severe complications during surgery. For instance, excessive anesthetic can result in deep anesthesia, which may hinder patient recovery and even be life-threatening. Therefore, precise monitoring of anesthesia depth is essential; improper calibration can leave a patient conscious during surgery, leading to psychological trauma. Depth of anesthesia (DoA) monitors are vital in ensuring the appropriate level of anesthesia is maintained throughout surgical procedures.

Moreover, the increasing prevalence of chronic conditions such as diabetes, cardiovascular diseases (CVDs), cancer, and kidney diseases is expected to drive the demand for surgical interventions globally. According to the American Society of Anesthesiologists, in 2019, 90% of hospital-based surgeries were conducted in 53% of hospitals across the United States. Additionally, a report from the American Society of Metabolic and Bariatric Surgery indicated that approximately 252,000 weight loss surgeries were performed in the US in 2019. This surge in surgeries requiring general anesthesia is contributing to the growing adoption of depth of anesthesia monitoring technologies.

In the United States, the total number of surgical procedures reported by the American Society of Anesthesiologists stands at 28,373,622. Among these, the most common inpatient surgeries include musculoskeletal and connective tissue procedures (37%), circulatory operations (22%), and digestive surgeries (8%). Furthermore, 88% of hospitals provide patient-controlled analgesia, with 67% offering pain management programs. The increase in surgical procedures is consequently driving the demand for depth of anesthesia monitoring devices and consumables, thereby propelling the market's growth in the upcoming years.

The rise in employment opportunities for anesthesia professionals is another factor contributing to the expansion of the depth of anesthesia monitoring market. Recent advancements in anesthesia practices and management have created a need for skilled professionals who can effectively utilize new technologies and devices. As awareness of depth of anesthesia monitoring increases, anesthesiologists are tasked with administering both local and general anesthetics during surgeries. The Bureau of Labor Statistics (BLS) projects a 4% growth in employment for anesthesiologists from 2018 to 2028, reflecting the rising demand for their services in hospitals and outpatient settings.

Despite the positive growth indicators, the high maintenance costs associated with depth of anesthesia monitors present a significant barrier to market expansion. The expenses related to the installation, upkeep, and operation of these monitors can be prohibitive, limiting their accessibility primarily to well-established medical institutions. The costs encompass both the initial capital required to acquire the monitors and ongoing expenses for patient sensors. Additionally, training clinical staff to proficiently operate depth of anesthesia monitoring technology and manage related facility operations incurs substantial costs, which may hinder market growth in the future.

The global depth of anesthesia monitoring market is categorized by purchasing type, product, and end user. In terms of product segmentation, the market is divided into devices and consumables, with the devices segment expected to capture a larger market share from 2021 to 2028. Medical devices are crucial for disease prevention, diagnosis, treatment, and rehabilitation. The medical device industry is experiencing continuous innovation and technological advancements, which are vital for the healthcare sector's growth. For instance, in 2020, the medical device sector filed 13,833 patent applications, marking the second-highest number of applications submitted to the European Patent Office (EPO). The US medical device industry, comprising over 6,500 companies, predominantly consists of small and medium-sized enterprises (SMEs) focused on innovation, which is expected to drive segment growth and, consequently, the overall depth of anesthesia monitoring market.

Looking ahead, the market is poised for growth due to numerous technological product approvals and launches, alongside advancements in computational power that enhance monitoring capabilities during surgery. The influx of high-tech products and investments from private entities is fostering significant growth in the depth of anesthesia monitoring market, characterized by a mix of both large and small companies. For example, in February 2022, Masimo received FDA clearance for its "SedLine" brain function monitoring system, designed for pediatric patients aged 1 to 17, along with the SedLine Pediatric EEG Sensor. The active involvement of competitive players in product innovation and the increase in product approvals are likely to further stimulate the growth of the depth of anesthesia monitoring market in the coming years.

Key organizations such as the World Health Organization (WHO), the American Society of Anesthesiologists, and the American Board of Anesthesiologists, along with the European Patent Office, have been instrumental in providing data and insights for this report on the global depth of anesthesia monitoring market.