The Global Sevoflurane Market is Expected to Flourish by Increasing Usage of Sevoflurane in Ambulatory Surgery Centres

Sevoflurane Market


 Sevoflurane is an inhaled general anesthetic agent used for induction and maintenance of general anesthesia. It provides a rapid onset and offset of general anesthesia with less respiratory irritability. Sevoflurane is highly suitable for ambulatory surgery due to its rapid recovery profile. Ambulatory or day surgery centers provide surgical treatment to patients who do not require an overnight hospital stay. The number of surgeries being performed in ambulatory surgery centers has increased significantly in the past decade owing to advantages such as reduced waiting times, lower risk of hospital-acquired infections, and lower costs. Sevoflurane has emerged as the preferred anesthetic agent for general anesthesia in ambulatory settings due to its fast induction and recovery characteristics.

The global sevoflurane market is estimated to be valued at US$ 386.49 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The increasing demand for general anesthesia in ambulatory surgery centers is one of the major drivers of the global sevoflurane market. As mentioned in the heading, sevoflurane is highly suitable for use in ambulatory surgery due to its rapid induction and recovery profile. This makes it an ideal agent for day care surgical procedures. Additionally, growing geriatric population is also fueling the market growth. Older patients are more likely to have comorbidities and prefer minimally invasive surgeries in ambulatory settings over conventional hospital-based procedures. Both these drivers are expected to contribute significantly to the increasing adoption of sevoflurane for general anesthesia during the forecast period.

Segment Analysis

The Global Sevoflurane Market Demand is dominated by the hospitals and clinics segment that accounts for over 60% share. This is because sevoflurane is widely used as an inhalation general anesthetic during surgical procedures. It allows smooth and rapid induction and recovery from anesthesia. The ambulatory surgical centers segment is expected to witness fastest growth during the forecast period due to the increasing number of surgeries being performed on an outpatient basis.

PEST Analysis

Political: Regulations related to the use and production of anesthetics are uniform across major markets. Approval processes have also been harmonized globally.
Economic: Rising healthcare spending coupled with growing surgeries will drive the sevoflurane market. However, price pressures from generics and supply issues can hamper market growth.
Social: Increasing preference for minimally invasive surgeries and outpatient procedures along with broader health insurance coverage are fueling the adoption of sevoflurane.
Technological: Sevoflurane offers advantages over other anesthetics like isoflurane due to rapid induction and recovery attributes. This has boosted its uptake in advanced surgeries. New applications in cardiac and pediatric surgeries are also expanding.

Key Takeaways

The global sevoflurane market is expected to witness high growth during the forecast period backed by rising surgical volumes and growing preference for minimally invasive procedures. The global sevoflurane market is estimated to be valued at US$ 386.49 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030.

Regionally, North America dominates due to extensive research and development activities and a large target patient population undergoing various surgeries. Factors like rising healthcare infrastructure and medical tourism are pushing Asian markets like China and India to emerge as fast growing regional markets for sevoflurane.

Key players operating in the sevoflurane market are Abbott Laboratories, Baxter, Piramal Pharma Solutions, Manus Aktteva Biopharma LLP, Maruishi Pharmaceutical Co.,Ltd., Lunan Pharmaceutical Group, Abbvie, Wellona Pharma, Rewine Pharmaceutical, and Troikaa Pharmaceuticals Limited. Abbott Laboratories leads the market owing to its robust distribution network and wide product portfolio. However, price erosion due to generics may challenge major market players. Product innovations with additional features and applications will be critical for sustaining market position.

Get more insights on this topic: https://www.pressreleasebulletin.com/sevoflurane-market-growth-market-size-share-analysis/

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