The global Anesthesia CO2 Absorbent Market used in anesthesia had a size of USD 62.80 Million in 2021. It is projected to experience a revenue compound annual growth rate (CAGR) of 9.1% during the forecast period. The incidence of chronic diseases such as neurological disorders, respiratory problems, cardiac arrest, and diabetes has been increasing in recent years. According to the World Health Organization (WHO), Chronic Obstructive Pulmonary Disease (COPD) affects more than 65 million individuals worldwide, causing 3 million deaths annually and ranking as the third leading cause of death. The growing prevalence of chronic diseases is expected to lead to a higher demand for surgical procedures, thereby increasing the need for anesthesia and driving the growth of the market.
Several other factors contribute to the revenue growth of the global anesthesia CO2 absorbent market. These include the growing number of hospitals and ambulatory surgery centers, the increasing elderly population worldwide, and government initiatives aimed at enhancing healthcare infrastructure. However, the adoption of chemical CO2 absorbents may be limited due to undesirable side effects, which could have some restrictions on market revenue growth.
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The elderly population is on the rise globally, with Europe and North America having the largest proportion of individuals aged 65 years and older. This demographic group often exhibits a high prevalence of specific medical conditions such as cardiovascular disease, cancer, respiratory disorders, and gastrointestinal diseases, which frequently require surgical interventions. In underdeveloped countries, there is a significant number of hospitalizations for older patients undergoing surgery. Additionally, due to the weakened immune systems of elderly individuals, the frequency of surgical procedures performed on them is considerably high. These factors contribute to the revenue growth of the global anesthesia CO2 absorbent market.
Segments Covered in the Report –
The global anesthesia CO2 absorbent market offers a range of products catering to different needs. These products can be categorized based on their composition and form.
In terms of product type, the market includes soda lime, Medisorb, Dragersorb, Amsorb, Litholyme, and other options. Each of these products has its unique characteristics and applications in anesthesia.
Furthermore, anesthesia CO2 absorbents are also classified based on their type, with traditional and premium options available. Traditional absorbents have been widely used in the industry, while premium absorbents offer advanced features and enhanced performance.
The end use of anesthesia CO2 absorbents is primarily in hospitals and clinics. These healthcare facilities rely on these absorbents to ensure patient safety and maintain the desired level of anesthesia during surgical procedures. Additionally, there are other end-use sectors where anesthesia CO2 absorbents may find applications.
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In terms of form, anesthesia CO2 absorbents are available in granular form and powdered form. The choice between the two forms depends on factors such as ease of use, specific requirements of the procedure, and the preferences of medical professionals.
Strategic development:
Smiths Medical, a prominent manufacturer of medical devices, introduced the EchoGlo peripheral nerve block portfolio in December 2020. This new addition to their Portex pain management product line provides customers with a comprehensive solution for regional anesthesia, covering everything from the pump to the patient.
In December 2018, Molecular Products Group, a key player in the market and a company within the portfolio of Arlington Capital Partners, completed the acquisition of the SODASORB business. This acquisition involved purchasing the SODASORB product range from a wholly-owned subsidiary of Henkel AG & Co. KGaA. The SODASORB products consist of carbon dioxide absorbents that are widely used in the healthcare and safety industries globally.
Competitive Landscape:
The global anesthesia CO2 absorbent market demonstrates a moderate level of competition, with the presence of numerous emerging and established market players. These companies are actively engaged in expanding their business operations and market presence through various strategies, including partnerships, collaborations, acquisitions, and mergers.
The market report profiles several key players operating in the anesthesia CO2 absorbent market. These players include Drägerwerk AG and Co. KGaA from Germany, GE Healthcare from the United States, Allied Healthcare Products, Inc. based in the United States, Smiths Medical, Inc. also from the United States, Vyaire Medical, Inc. from the United States, Intersurgical, Ltd. headquartered in England, Armstrong Medical, Ltd. based in the United Kingdom, Molecular Products Group, Ltd. from England, Micropore, Inc. operating in the United States, Lowenstein Medical UK, Ltd. from England, and Atrasorb from Brazil.
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These companies have established themselves as significant contributors to the anesthesia CO2 absorbent market, each bringing their expertise, innovative solutions, and a diverse range of products to meet the growing demand in the healthcare industry. As the market continues to evolve, these players will likely continue to play a crucial role in driving the growth and development of the anesthesia CO2 absorbent market.Top of Form
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