According to research report the global Depth of Anesthesia Monitoring Market is projected to reach USD 170 million by 2024, at a CAGR of 3.2% during the forecast period. The growing patient pool in hospitals and the increasing number of surgeries in the US are the major factors contributing to the growth of this market.
However, depth of anesthesia monitoring devices is expensive and have considerably high installation and maintenance costs. Owing to this, their adoption is limited in small outpatient settings and clinics.
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Based on the mode of purchase, the GPOs segment accounted for the largest share of the market in 2018. This can be attributed to the superior bargaining power of GPOs in bulk purchases over individual clinical settings. However, the direct purchase segment is expected to witness higher growth during the forecast period.
Based on device type, modules accounted for the largest share of the market in 2018. Modules can be integrated into different DOA devices, which has resulted in their widespread use in different clinical settings. Many of the modules marketed in the US are provided by GE Healthcare, Philips, Mindray, and Spacelabs. These market players provide different modules to measure DOA parameters, including BIS, Entropy, and Patient State Index (PSI).
Hospitals accounted for the largest share of the US depth of anesthesia monitoring market, by end user, in 2018. The major factors driving the demand for depth of anesthesia monitoring devices in hospitals in the US are the rising patient volume and the increasing number of surgeries.
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The prominent 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). Strategic partnerships, acquisitions, and new product launches have helped these companies to increase their presence and reach in the US depth of anesthesia monitoring market over the last few years.