Increasing prevalence of chronic and infectious diseases and growing number of surgical procedures are key market growth drivers
The global anesthesia CO2 absorbent market size is expected to reach USD 122.0 Million by 2028 at a CAGR of 8%, according to a new report by Reports and Data. Key factors driving the market revenue growth are increasing cases of chronic and infectious conditions, rising number of fatal accidents, growing number of surgical procedures, and increasing usage of advanced anesthetic tools and devices. Rise in geriatric population worldwide and growing prevalence of neurological conditions, cardiovascular disorders, and respiratory diseases, which require surgical intervention are some other major factors responsible for the global market growth. Rising demand for anesthesia disposables and stringent regulations regarding the use of anesthetic drugs and equipment further bolster market growth to a significant extent. For instance, the Centers for Disease Control and Prevention (CDC), Anesthesia Patient Safety Foundation, and several other regulatory bodies have imposed certain safety guidelines for the use of anesthesia disposables.
CO2 absorbents are primarily used during anesthesia administration to absorb the exhaled gases. CO2 absorbent formulations are used to minimize anesthetic waste by reducing the flow of fresh gas to closed-circuit conditions. These absorbents contain strong bases of potassium hydroxide and sodium hydroxide that help obtain labile protons from anesthetic molecules to carbon monoxide (CO). However, CO2 absorbents such as Amsorb and various others do not contain potassium hydroxide and sodium hydroxide, and, as a result, they do not produce carbon monoxide by reacting with inhaled agents.
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Some Key Highlights in the Report:
Based on product type, the global anesthesia CO2 absorbent market is segmented into soda lime, medisorb, dragersorb, amsorb, litholyme, and others. The amsorb segment is forecast to register a steady CAGR of 8.6% over the forecast period mainly due to the significant role of the product in preventing the formation of toxic products when exposed to volatile anesthetic agents. Advancements in absorbent formulations and increasing preference for amsorb for use in anesthesia administration further drive revenue growth of this segment.
The hospital end-use segment dominated other end-use segments in terms of revenue in the global anesthesia CO2 absorbent market in 2020 and is expected to register fastest CAGR of 7.6% over the forecast period. Increasing availability of well-resourced and well-equipped operating rooms in hospitals, presence of skilled healthcare professionals, increasing hospital admissions for surgeries, and rising demand for favorable health coverage plans and policies are the key factors accountable for the growth of this segment.
Among regions, the North America anesthesia CO2 absorbent market accounted for the largest market in 2020. Increasing volumes of surgeries in the region, rising incidences of road mishaps, growing geriatric populace, and increasing medical tourism are the primary factors fueling the North America market growth. The Asia Pacific anesthesia CO2 absorbent market is expected to register the robust revenue CAGR of 8.6% during the forecast period, mainly due to the region’s rapidly advancing healthcare infrastructure.
Some of the leading companies operating in the global anesthesia CO2 absorbent market are GE Healthcare, Armstrong Medical Ltd., Drager Medical GmbH, CareFusion, Smiths Medical Inc., Allied Healthcare, Micropore Technologies, Molecular Products Group Plc, Intersurgical, Thomasnet, and SCL International, among others.
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For the purpose of this report, the global anesthesia CO2 absorbent market is segmented on the basis of product type, type, form, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2020-2028)
Type Outlook (Revenue, USD Million; 2020-2028)
Form Outlook (Revenue, USD Million; 2020-2028)
End-Use Outlook (Revenue, USD Million; 2020-2028)
Regional Outlook (Revenue, USD Million; 2020-2028)
Middle East & Africa
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