Anesthesia CO2 Absorbent Market size was valued at USD 43.7 million in 2015 and is expected to reach USD 79.1 million by 2022. Global anesthesia CO2 Absorbent demand is expected to grow at a high rate on account of its increasing application in medical science. The major factors contributing to the market growth is increasing incidence of accidents, chronic diseases, the ageing population and a high number of surgeries. Rising occurrences of chronic health diseases are expected to contribute to increasing demand for surgeries. This in turn is expected to contribute to growing volume of anesthesia, therefore propelling the overall market growth. Further, safety parameters and guidelines imposed the governing institutes help in driving the demand. These institutes include the CEA, CDC and Anesthesia Patient Safety Foundation.
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The key driving factors responsible for the growth of Anesthesia CO2
Absorbent market :
Trends have shown that there have
been an increasing number of people suffering from diseases which include
neurological conditions, respiratory disorders, cardiac arrest and diabetes.
These kind of incidences has resulted in surgical requirements which in turn
has propelled the industry growth. As
per the world health organization, approximately 8 % of the global population
has been suffering from respiratory disorders. Aging population and geriatric
populations has significantly contributed in driving the overall industry
growth.
Healthcare sector largely depends
on government policies and initiatives. Government regulatory bodies help in
establishing best practices for modern healthcare facilities. Medical
institutions and manufacturing companies depend on the government in terms of
financial support and best practice methods. Recent trends have shown that
regulatory bodies have been supporting the healthcare for anesthesia
disposables. This has fueled the anesthesia CO2 absorbent industry. Hospitals expansion
and investments in modern infrastructure have helped the medical institutions
in establishing grass root level medical networks. The European Investment Bank
announced a financial aid of USD 150.9 million towards the establishment of
Midland Metropolitan Hospital in Great Britain. This healthcare center is
anticipated to provide services to patients related to trauma and accident. It
aims at establishing itself as the biggest emergency department in the UK.
Segmentation is done on the basis
of product used which includes Medisorb, Dragersorb, Amsorb, Litholyme and Soda
Lime. The majority of the market share is being captured by Medisorb, Amsorb
and Dragersorb. These products are widely used on account of their superior
characteristic over the counterparts. Products including SpiraLith have been
showing a steady penetration in the market in recent years. Similarly, this
kind of newer formulations is expected to change the market scenario in the
near future. Medisorb has been
dominating the market and it is expected to continue its lead over the forecast
period on account of its vast network and product goodwill. Around one-fourth
of the market share is held by Medisorb. Amsorb follows the demand and has
shown a tremendous increase in recent years. Amsorb plus, a product from the
Amsorb segment has been manufactured to eliminate toxic products formation
which includes carbon monoxide and compound A. This kind of initiative by the
manufacturers offers great opportunities for the growth of Amsorb segment.
Manufacturers are continuously
focusing on prevention of fatal compound formation and thereby enhancing the
absorption rate during the surgical process. This is achieved through
continuous evolution and new absorbent formulations. Heavy investments by the
manufacturing organisations in the field of research and new product
development are expected to propel the market growth in near future. The
industry is segmented on the basis of geography as into North America (the
U.S., Canada, and Mexico), APAC (China, Japan, and India), Europe (Germany, the
U.K., and France), Middle East and Africa and Latin America. North America
dominates the anesthesia CO2 absorbent industry with approximately one-third
global share. The primary reason for the dominance is developed healthcare
sector and supportive government initiatives. Countries including the U.S and
Canada have observed increasing flow of patients on account of medical tourism.
Patients from around the globe have been glowing in the U.S on account of
superior medical treatment and advanced surgery techniques.
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