Epidural Anesthetic Device Market Report Overview
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The global epidural anesthetic device market size was USD 530.3 million in 2022 and is expected to reach USD 815.64 million by 2031 exhibiting a CAGR of 4.9%.
The global COVID-19 pandemic has been unprecedented and staggering, with epidural anesthetic devices experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Epidural anesthesia, also known as regional anesthesia, reduces pain by preventing nerve impulses from entering the epidural space surrounding the spinal cord. As a result, the sensation in the lower body is lessened. An epidural anesthetic is the most popular way to lessen discomfort during normal or C-section delivery. Instead of producing anesthesia, epidural anesthesia primarily provides analgesia or pain relief. An epidural anesthesia disposable device uses a tiny needle to produce localized anesthesia in the subarachnoid space during epidural analgesia or combined spinal-epidural anesthesia.
The administration of anesthetic agents to the patient, such as medications, gases, and fluids, is recorded and displayed via anesthesia monitors. These are used during surgery to observe the patient's condition and response to the anesthesia movement. Integrating multiple features, including carbon dioxide level, heart rate, oxygen saturation level, and blood pressure, together with decision support systems and data analysis to assist physicians in acquiring better patient insights, is promoting epidural anesthetic device market expansion.
COVID-19 Impact: Supply Chain Disruption Affected Market Growth
The COVID-19 pandemic has significantly impacted the use of epidural anesthetic devices. Due to the highly infectious nature of the virus, healthcare workers have been at an increased risk of exposure while performing intubations on COVID-19 patients. As a result, this product has become more widespread to reduce the risk of virus transmission. The product has been particularly useful in managing difficult airways in COVID-19 patients with severe respiratory distress or requiring prolonged mechanical ventilation. The video display allows the anesthesiologist to guide the endotracheal tube through the airway more precisely, reducing the risk of complications and improving patient outcomes.
LATEST TRENDS
"Prevalence of Chronic Diseases Among Geriatric Population to Aid Market Growth"
The prevalence of chronic diseases and the growing number of elderly people in Japan are projected to raise the demand for medical devices. The world's population is aging the fastest in Japan. Since the geriatric population is anticipated to grow in the coming years and is more susceptible to chronic illnesses like cardiovascular disease, neurological disorders, and other illnesses, more surgical procedures will likely be performed, and more anesthesia equipment will be used, which will have a positive effect on the epidural anesthetic device market. Therefore, the demand for anesthesia devices is anticipated to rise throughout the forecast period due to the aforementioned causes.
Epidural Anesthetic Device Market Segmentation
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- By Type Analysis
By type, the market is segmented into epidural catheter trays, epidural anesthesia needles, and others.
- By Application Analysis
Based on application, the market is classified into abdomen procedures, pelvic procedures, lower extremity procedures, and others.
DRIVING FACTORS
"Growing Number of Surgeries to Surge the Device Demand in the Global Market"
The prevalence of various chronic diseases is predicted to boost the epidural anesthetic device market growth. The patients prefer treating the disease by operation rather than medications, which will likely bolster the demand for epidural anesthetic devices in the global market. It prevents the patient from feeling pain and helps them to relax during surgical procedures. T vandalizes pain and makes it easy for the doctor to operate. It has various varieties, such as anesthesia, spinal anesthesia, epidural, general anesthesia, and nerve-block anesthesia drugs. Thus, the product demand will likely increase due to the growing number of surgeries in the global market.
"Escalating Number of Deliveries and Road Accidents to Offer Lucrative Opportunities to the Market"
The need for surgical operations increases as the number of accident cases rises. The number of traffic accidents has considerably increased in Asia Pacific nations. There have been an alarmingly large number of traumatic brain injury cases documented in nations including Thailand, India, Australia, China, and Malaysia. This increases the significance of monitoring tools for gauging anesthesia depth. By injecting a numbing medication into the spinal nerves to alleviate the lower back discomfort, epidural anesthesia reduces labor pain during vaginal birth or cesarean delivery. In anesthetic procedures, the thoracic, cervical, lumbar, and sacral regions of the spine are all treated with disposable epidural anesthesia devices.
RESTRAINING FACTORS
"High Cost and Lack of Awareness of the Drugs to Impede Market Growth"
Epidural anesthesia device is expensive, which may limit the market growth as it restricts various healthcare sectors from using them. Moreover, the population is unaware of various advanced medical devices may be another restraining factor for the market.
Epidural Anesthetic Device Market Regional Insights
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"North America to Dominate the Market Owing to the Growing Prevalence of Chronic Disorders"
North America is expected to experience major product demand from the healthcare sector owing to the rising incidence of chronic diseases, which boosts the need for surgical treatment.
Asia Pacific is predicted to hold a significant part of the epidural anesthetic device market share ascribed to the advancements in non-invasive monitoring of anesthesia in operation rooms. Additionally, the expanding healthcare facilities is expected to increase the region's demand for the product.
KEY INDUSTRY PLAYERS
"Key Companies to Emphasis On the Development of Advanced Technology"
Key market players are focused on strengthening their presence by adopting advanced technologies. The competitors are adopting strategies to gain mergers and acquisitions in the global market. Major players of the market are emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players strive to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their market share in the global market.
List of Market Players Profiled
- B.Braun (Germany)
- BD (U.S.)
- Meditech Devices (India)
- Smith Medical (U.S.)
- Teleflex (U.S.)
REPORT COVERAGE
The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 530.3 Million in 2022 |
Market Size Value By |
US$ 815.64 Million by 2031 |
Growth Rate |
CAGR of 4.9% from 2022 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the epidural anesthetic device market expected to touch by 2031?
Based on our research, the epidural anesthetic device market is projected to touch USD 815.64 million by 2031.
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What CAGR is the epidural anesthetic device market expected to exhibit by 2031?
The epidural anesthetic device market is expected to exhibit a CAGR of 4.9% by 2031.
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What are the segments of the epidural anesthetic device market?
By type, the epidural anesthetic device market is segmented into epidural catheters trays, epidural anesthesia needles, and others. Based on application, the market is classified into abdomen procedures, pelvic procedures, lower extremity procedures, and others.
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Which are the driving factors of the epidural anesthetic device market?
Growing number of surgeries to surge the device demand in global market and the escalating number of deliveries and road accidents to offer lucrative opportunities to the market are the factors driving the epidural anesthetic device market.
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Which are the top companies operating in the epidural anesthetic device market?
B.Braun, BD, Meditech Devices, Smith Medical, and Teleflex are the top companies operating in the epidural anesthetic device market.