Market Overview In 2019, the global Anesthesia Information Management Systems market held a value of USD 709.8 million, with a projected increase to USD 1208.6 million by 2027, at a compound annual growth rate (CAGR) of 6.9%. A key driving factor for the Anesthesia Information Management System is the growing demand for comprehensive systems and decision-making tools that compile patient history data related to surgical procedures. Additionally, increased awareness of the side effects associated with excessive dosing has led to greater government regulation of healthcare professional dosing practices.
The Anesthesia Information Management System plays a vital role in ensuring accurate dosing, which is expected to propel market growth in the future. The rising interest in delivering precise anesthetic doses for pharmacovigilance is also anticipated to boost the sector in the forecast period.
Moreover, the increasing incidence of chronic diseases necessitating surgical procedures, improved healthcare education, and limitations associated with conventional anesthesia tracking systems requiring medical interventions are expected to drive industry growth. For instance, in 2018, the World Health Organization reported that cardiovascular diseases (CVDs) were the leading global cause of death, accounting for approximately 17.9 million deaths each year.
However, challenges such as system failure in recording information and the high cost of Anesthesia Information Management Systems may impede industry growth in the near future.
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Component Analysis: The Anesthesia Information Management System market is categorized into Software and Hardware components. The Hardware segment further includes Computer Workstations and Mounting Equipment.
The Software segment's value was USD 292.3 million in 2019, mainly attributed to the increasing adoption of Anesthesia Information Management System (AIMS) software. For example, GE Healthcare's Centricity Perioperative Anesthesia is a leading AIMS in the industry. The cost of software and associated expenses, including licensing, contributes to the sector's growth during the forecast period.
Application Insights: The market's Applications segment comprises Pre-operative, Intraoperative, and Post-operative uses. The effective utilization of Anesthesia Information Management Systems helps prevent malpractice and controlled-substance diversion cases by maintaining electronic records of patient treatment and administered anesthetic drugs. This factor is expected to drive market growth in the foreseeable future.
End User Analysis: Based on End-Use, the market is divided into Hospitals, Clinics, Ambulatory Surgical Centers, Pain Management Clinics, and Others. Hospitals are expected to hold a significant market share of 41.8% during the forecast period. Anesthesia Information Management Systems offer numerous advantages to hospitals, enhancing efficiency and record-keeping in operating rooms, which are typically the most expensive part of a hospital. Smaller community hospitals are also expected to adopt AIMS more widely due to the clear benefits of these record-keeping solutions.
Regional Overview: North America led the Anesthesia Information Management Systems market in 2019, driven by the increased prevalence of chronic diseases, higher surgical procedure volumes, and the demand for improved patient data systems. Factors such as the adoption of data analytics, constraints on conventional anesthesia dosage tracking systems, improved nurse education, and enhanced healthcare facilities are driving market growth in North America.
The Asia Pacific region is anticipated to exhibit the highest CAGR in the coming years, driven by the need to control healthcare costs, investments in healthcare system modernization, and improved IT infrastructure.
Market Insights:
- North America dominated the industry in 2019, supported by government initiatives to raise awareness in healthcare.
- Europe had the second-largest market share in 2019, with a CAGR of 6.6% during the estimated period.
- The Asia Pacific region is expected to experience significant growth due to the increasing elderly population and the rising prevalence of chronic diseases.
- Hospitals held the largest market share in 2019, and this segment is expected to grow at a rate of 6.7% due to increasing demand for effective surgical procedures.
- Ambulatory Surgical Centers had a 25.1% market share in 2019 and are anticipated to experience the highest growth rate.
- The Hardware segment accounted for about 58.8% of the global Anesthesia Information Management System industry.
Key Companies and Developments: Key players in the Anesthesia Information Management Systems market include Becton, Dickinson and Company, Koninklijke Kentalis, GE Healthcare, Merge Healthcare, Cerner Corporation, DOCUSYS AE, Flexicare Inc, Surgical Information Systems, iMDsoft, Fukuda Denshi, Inc., Dragerwerk AG and Co. KGaA, and Flexicare Medical Limited. These companies have implemented various strategies to advance the sector, including technological innovations and awareness campaigns.
In June 2019, Nanthealth showcased healthcare technology solutions at the HIMSS and Health conference 2.0 European Conference, demonstrating the Medical Device integration platform, DeviceConX. This platform was designed to send medical device data to iProcedures' iPro Anesthesia, a mobile, cloud-based AIMS.
In January 2019, Plexus Technology Group, LLC, introduced its groundbreaking anesthesia Electronic Medical Record (EMR) at a conference, raising awareness about the system and its potential benefits.
Startup Opportunities: The industry presents growth opportunities for startups focusing on innovative products and advancements in cloud-based technologies, particularly in emerging economies.
Mergers and Acquisitions: Mergers and Acquisitions play a significant role in the Anesthesia Information Management Systems industry. Key players are joining forces to offer integrated solutions and expand their presence in the market.
AnesthesiaOS collaborated with Medac Inc. to provide seamless billing integration. Medical Information Records LCC, the maker of AnesthesiaOS, is known for its cloud-based Anesthesia Information Management System.
Expert Insights: Reports and Data predict promising developments in the adoption of Anesthesia Information Management Systems. Companies are tailoring new products to meet customer expectations and achieve optimal clinical outcomes. Industry experts anticipate the entry of new manufacturers, which could reshape the industry dynamics. These new entrants are likely to focus on innovation and advanced technologies to reduce complexity and operational costs.
Segmentation in the Report: The report segments the global Anesthesia Information Management Systems market by components, applications, end-use, and region, offering revenue growth forecasts at global, regional, and country levels for the period 2017-2027. Key segments include:
Components:
1. Software
2. Hardware
· Computer Workstations
· Mounting Equipment
Applications:
1. Pre-operative
2. Intraoperative
3. Post-operative
End-Use:
1. Hospitals
2. Clinics
3. Ambulatory Surgical Centers
4. Pain Management Clinics
5. Others
Regions:
- North America (U.S.)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific)
- Middle East & Africa
- Latin America (Brazil)
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