The global depth of anesthesia monitoring market is projected to reach US$ 280.83 million by 2028 from US$ 203.32 million in 2021; it is expected to grow at a CAGR of 4.7% from 2021 to 2028. The rising number of surgical procedures drives the overall growth of the depth of anesthesia monitoring market. However, the high maintenance cost of depth of anesthesia monitors hampers the depth of anesthesia monitoring market's growth.

The four stages of anesthesia (analgesia or disorientation, excitement or delirium, surgical anesthesia, and overdose) play a critical role in the central nervous system (CNS) depression during surgery. The variation in anesthesia doses or misjudgment of the depth of anesthesia of patients may prove serious and dangerous during surgery on patients. For example, if too much anesthetic is used, the patient will be in deep anesthesia, which is not conducive to the patient's recovery and prove life-threatening. Therefore, it is important to monitor the depth of anesthesia precisely as if it is not calibrated properly, the patient may stay awake during the surgery and suffer from psychological trauma. For such awareness, the depth of anesthesia (DoA) monitors play a significant role in monitoring the level of anesthesia while performing surgery on patients. Additionally, the rising prevalence of chronic diseases such as diabetes, cardiovascular diseases (CVDs), cancer, stroke, bladder cancer, prostate cancer, and kidney diseases is expected to increase the number of surgical procedures worldwide. As per the statistics revealed by the American Society of Anesthesiologists in 2019, 90% of hospital-based surgeries occur in 53% of hospitals in the US. Also, in a study published by the American Society of Metabolic and Bariatric Surgery in 2019, ~252,000 weight loss surgeries were performed in the US. Thus, with the rising number of surgeries using general anesthesia, the depth of anesthesia monitoring adoption is increasing.

The total number of surgical procedures performed in the US is reported at 28,373,622 by the American Society of Anesthesiologists. Among these, musculoskeletal & connective tissue, circulatory, and digestive operations are the most performed inpatient surgical procedures, comprising 37%, 22%, and 8% of all hospital-based inpatient surgeries completed in 2019. Also, 88% of hospitals offered patient-controlled analgesia, with 67% offering pain management programs. Therefore, rising surgical procedures boost the demand for depth of anesthesia monitoring devices and consumables, thus stimulating the growth of the overall depth of anesthesia monitoring market in the coming years.

The growing employment rate and opportunities for anesthesia professionals are responsible for the growth of the depth of anesthesia monitoring market. In recent years, there has been considerable development in the profession of anesthesia and its management. The emerging new technologies need skilled professionals to align with technology and devices for handling the process. With growing awareness of the depth of anesthesia monitoring, anesthesiologists will be responsible for administering local and general anesthetics to patients during operations. Thus, the rising profession awareness among anesthesiologists and skilled anesthetics technicians is expected to drive the global depth of anesthesia monitoring market. For instance, the Bureau of Labor Statistics (BLS) project revealed that employment growth for anesthesiologists precisely will increase by 4% between 2018 and 2028. Also, the American Board of Anesthesiologists revealed that with the demand for anesthesiologists depending on the requirement for surgeries, the number of hospital and outpatient settings among patients has been rising. The factors mentioned above are responsible for the overall depth of anesthesia monitoring market growth.

The high maintenance cost of depth of anesthesia monitors is responsible for the sluggish growth of the overall depth of anesthesia monitoring market. As high cost is associated with installing, maintaining, and using depth of anesthesia monitors, only prominent and established medical organizations can afford such a high cost. Additionally, depth of anesthesia monitoring cost comprises capital costs associated with acquiring the monitor and recurring costs associated with sensors attached to the patient. Further, training for the qualified clinical staff to use depth of anesthesia-monitoring technology and facility-related operations, such as updating protocols of the machine, require a substantial amount of money. These factors may restrict the market's growth in the coming years.

The global depth of anesthesia monitoring market is segmented based on purchasing type, product, and end user. Based on product, the depth of anesthesia monitoring market is bifurcated into devices and consumables. The devices segment is estimated to account for a larger market share during 2021-2028. Devices play a vital role in disease prevention and medical diagnosis. Also, devices have a critical role in treating and rehabilitating a medical condition. The global medical device industry is witnessing continuous innovation and technological advancements, driving the healthcare sector globally. For example, the medical device industry registered 13,833 patent applications, the second-highest number of patent applications filed with the European Patent Office (EPO) in 2020. Also, the US medical device companies have a strong focus on innovation and technologically advanced products. More than 6,500 medical device companies in the US are mostly small and medium-sized enterprises (SMEs). Such factors are responsible for the segmental growth and ultimately responsible for the depth of anesthesia monitoring market's overall growth during the forecast period.

Future Trend- Large Number of Technological Product Approvals and Launches

Many technological product approvals and launches and an increase in computational power bring the ability to monitor every aspect of a patient's movement and response during surgery. Also, the high-tech products and investments in the depth of anesthesia monitoring market by private players are resulting in significant growth as the depth of anesthesia monitoring market is characterized by many small and big companies. For instance, in February 2022, Masimo announced the FDA clearance of "SedLine" brain function monitoring intended for pediatric patients (1-17 years of age) and the SedLine Pediatric EEG Sensor. The active participation of competitive players in product innovation and development and increase in product approvals are likely to fuel the growth of the depth of anesthesia monitoring market in the coming years.

The World Health Organization (WHO), the American Society of Anesthesiologists, and American Board of Anesthesiologists, and the European Patent Office are among the primary and secondary sources referred to while preparing the report on the global depth of anesthesia monitoring market.