United States Anesthesia and Respiratory Devices Markets

Published by: Frost & Sullivan

Published: Jun. 30, 2005 - 133 Pages

Table of Contents

Abstract

The increasing competition and growing price sensitivity in the anesthesia and respiratory devices markets are compelling manufacturers to turn to innovation as a means to maintain brand loyalty. Manufacturers that offer more than just reliability and safety through their products stand to the gain the most in terms of market share. For example, many vendors are providing incremental process improvements and scalability as a part of anesthesia deliver units (ADUs) to compress patient turnaround times in the operating room (OR). 'Plug-and-play' ADUs that seamlessly integrate into the hospital patient management databases and anesthesia workstations that incorporate bispectral analysis to reduce costs and improve the quality of post-operative recovery are also expected to spur sales in the coming years.

This research service analyzes the U.S. market for anesthesia and respiratory devices, segmenting them into ADUs, anesthesia disposables, and respiratory disposables. It also discusses the various market trends and opportunities while providing in-depth analysis of market share, forecasts, drivers, restraints, and revenues. The comprehensive focus of this study will enable companies to align their positioning strategies to benefit from the changing markets and obtain maximum return on investment.

Reducing Cost of Ownership Critical for Success in the Market

The successful vendors in the anesthesia and respiratory devices market are likely to be those that can offer greater technical sophistication through their products while maintaining, if not increasing, the prices. However, given the increasing levels of price sensitivity, maintaining this balance between price and technology is becoming highly challenging. In addition, reimbursement pressures, managed care, and group purchasing have compounded the price sensitivity in the markets.

"Manufacturers that price their systems higher are able to do so only by illustrating cost of ownership benefits through detailed calculations," explains the analyst of this research. " This involves clear demonstration of the ability of new capabilities and interfacing software to help customers smoothen clinical workflow and save expensive resources such as OR staff time."

Market Saturation Leading to Heightened Consolidation Activity

The U.S. anesthesia and respiratory device market has reached full saturation and this has led to a spate of mergers and acquisitions. "Competition is intense in the market and there is also a lack of product differentiation," observes the analyst. "The manufacturers and distributors have responded to this trend with mergers and alliances to broaden their product line and protect brand loyalty."

These mergers and acquisitions are expected to pose a significant challenge to smaller companies. In addition, with larger vendors accounting for a considerable share of market revenues, new and smaller participants are likely to find it increasingly difficult to make a significant impact on the market. For instance, the percent of market revenues realized by the top three vendors during the year 2004 in the anesthesia and respiratory disposables segment was 47.6 percent and 66.5 percent respectively. Moreover, these smaller firms have to grapple with managed care and group purchasing organizations for a share in the already mature market.

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