Global Anesthesia CO2 Absorbent Market is expected to grow at a CAGR of 8.94% during the forecast period 2019-2026
A new research report published by Fior Markets with the title Anesthesia CO2 Absorbent Market by Product Type (Soda lime, Medisorb, Dragersorb, Amsorb, Litholyme, Others), End-User (Hospitals, Clinics), Regions, and Global Forecast 2019-2026.
As per the report, the global anesthesia CO2 absorbent market is expected to grow from USD 56.51 Million in 2018 to USD 112.14 Million by 2026, at a CAGR of 8.94% during the forecast period 2019-2026. Presence of well-developed healthcare sector, high incidence of chronic diseases along with considerable geriatric population are the factors that made North America as the most dominant region.
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Major players in the global anesthesia CO2 absorbent market are GE Healthcare, Smiths Medical, CareFusion (Becton Dickinson and Co.), Armstrong Medical, and Drager Medical GmbH, King Pharmaceuticals, Allied Healthcare Products, Molecular Products, Micropore, and Medisize among others. Companies are adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership to maintain their presence in the global alpha-amylase baking enzyme market. For instance in 2018, Molecular Products Group announced the acquisition of the SODASORB® business from Henkel. The SODASORB® product range includes carbon dioxide absorbents which have been trusted globally for decades in the healthcare and safety industries. SODASORB® products help to safely and efficiently remove carbon dioxide from anesthesia systems, saturation diving chambers, diving re-breathers, and industrial safety equipment.
The global anesthesia CO2 absorbent market has been segmented on the basis of product type, and end user. The product type segment includes soda lime, medisorb, dragersorb, amsorb, and litholyme, among others. The medisorb anesthesia CO2 absorbent exhibits superior performance, wide distribution network and product goodwill. As a result, the medisorb segment emerged as the leader in the global anesthesia CO2 absorbent market with a 29.72% share of market revenue in 2018. The amsorb helps to eliminate the formation of toxic products and thus is expected to grow as the second dominant segment in the global anesthesia CO2 absorbent market. The end user segment is divided into hospitals and clinics. There has been a growing prevalence of chronic medical conditions and huge increase in the number of people undergoing surgical procedures. Thus, the hospitals segment is expected to grow at an accelerated CAGR of 11.02% over the forecast period. The availability of specialized professionals to provide better treatment in accident and trauma cases is the major reason to maintain the dominance of hospitals segment.
The major drivers that stimulate the market demand are rising incidence of chronic illnesses, growth in the number of people undergoing surgical procedures as well as huge increase in the percentage of geriatric population. The medical safety concerns related to the improper administration of anesthesia are anticipated to restrain the market growth. Worldwide guidelines and safety parameters about the use of anesthesiam, supportive government initiatives, and increasing investment on developing newer CO2 absorbing formulations are the major opportunities to swell the growth of the global anesthesia CO2 absorbent market. Stringent government regulations is a major challenge for the global anesthesia CO2 absorbent market.
About the report:
The global anesthesia CO2 absorbent market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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