China Anesthesia Devices Market - Growth, Trends & Forecast (2020 - 2025)
The growth in the geriatric population is likely to result in a significant increase in the demand for the surgeries in China. The overall increase in the number of surgeries performed has a strong impact on the anesthesia devices market in China, as anesthetic devices are used in surgical procedures to reduce the pain.
The geriatric population is found to be highly prone to the degenerative diseases and chronic illnesses, which has caused an increased verge on surgeries and therapeutics. This demands for continuous monitoring, and it leads to the growth of the anesthesia devices market. Also the increasing investments in the market, supporting the technological advancements in anesthesia machines and techniques, are having a major impact on the market growth, enabling faster deployment in the healthcare industry.
Furthermore, the requirement by the government, for clear documentation of regular and appropriate servicing of the anesthesia machines, including its components, and their proper maintenance, servicing, and repair, is acting as a restraining factor for the growth of the market.
Key Market Trends
Anesthesia Monitors Sub-segment is Expected to Register a High CAGR in the Forecast Period
Anesthesia monitors are used to record and display the delivery of anesthetic substances, like gases, drugs, and fluids to the patient. During surgeries, these are used to check the patients health and reaction to the indication of anesthesia. The integration of various functionalities, such as oxygen saturation level, carbon dioxide level, heart rate, and blood pressure, coupled with decision support systems and data analysis aids clinicians to get better insights on their patients.
As per a 2019 article by Jin Xu et al., published in the BMJ journal, hospitals in China continue to expand rapidly. From 2008 to 2017, the number of visits to hospitals increased by 93.1% compared with an increase of 49.5% to primary care facilities. Hospital admissions rose by 2.4 times from 2008 to 2017 (10% on average annually). Increase in hospital admissions have thus resulted in increasing demand for anesthesia machines for surgeries, which is helping the growth of the market in China.
China is a developing economy. Although its healthcare system is not highly developed, China is spending more each year in their healthcare system. This has encouraged many global companies to enter the market and as a result, many global players in the patient monitoring market are present in the country. Moreover, some domestic players have also been competing in the Chinese market. These factors have made the region very competitive.
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