Global Anesthesia CO2 Absorbent Market is expected to reach USD 79.1 million by 2022, according to a new report by Grand View Research, Inc. Rising geriatric population, increasing usage of regional anesthesia, and augmenting volume of surgical procedures across the globe are vital impact rendering drivers for the market.
Anesthesia CO2 absorbent forms a niche segment within the anesthesia disposables, the demand for which is expected to rise with increasing number of surgeries. According to the statistics provided by the WHO in collaboration with the Department of Health Policy and Management of Harvard, the global surgical volume is high and accounts for about 234 million surgeries per year.
Furthermore, with this increase, a proportional rise in complications and deaths after surgery are being witnessed. According to the statistics provided by the U.S. Agency for Healthcare Research and Quality, one in 150 patients dies due to improper administration of anesthesia.
The Harvard School of Public Health’s study links economic conditions of a country with volume of surgeries and states that prevalence of major surgeries is 37 times higher in countries with healthcare expenditure above USD 1,000 per person.
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Further key findings from the study suggest:
- Amsorb is expected to witness the fastest growth over the forecast period owing to increasing demand for absorbents free from presence of KOH and clarity in exhaustion indication. Amsorb is anticipated to grow at a CAGR of over 10.0% over the next seven years and contribute about 14.0% revenue to the industry.
- Latin America and Asia Pacific are predicted to be the fastest growing regions for the anesthesia CO2 absorbent market. Together, they are expected to hold over 25.0% of the market share by 2022. Strategic reforms in healthcare policies and increasing healthcare spending patterns are expected to be the market drivers within the region.
- Key players of the industry include GE Healthcare, Smiths Medical, CareFusion (Becton Dickinson and Co.), Armstrong Medical, and Drager Medical GmbH. Other players include King Pharmaceuticals, Allied Healthcare Products, Molecular Products, Micropore, and Medisize. GE Healthcare’s vital sign division responsible for manufacturing of anesthesia CO2 absorbent was acquired by CareFusion in 2013, thereby making it a leader for single patient use consumables for anesthesiology.
- Also, cases of patent infringement are being reported by players such as Drager. In October 2015, the company filed a patent infringement lawsuit against Allied Healthcare alleging infringement carbolyme single use carbon dioxide absorption cartridges. This action is anticipated to help the company maintain its market share and control competition.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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