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/

Comments

Post a Comment

Popular posts from this blog

Precast Concrete Market Is Estimated To Witness High Growth Owing To Increasing Demand for Sustainable Construction Practices

Image
Precast Concrete Market Market Overview: The Precast Concrete Market is witnessing significant growth due to the increasing demand for sustainable construction practices. Precast concrete products are prefabricated in controlled factory conditions, offering several advantages such as improved quality control, reduced construction time, and increased durability. These products are widely used in residential, commercial, and infrastructure projects due to their ability to enhance construction efficiency and productivity. With the growing need for energy-efficient and environmentally friendly buildings, the demand for precast concrete products is expected to rise. Market Key Trends: One key trend in the Precast Concrete Market is the adoption of advanced technology in manufacturing processes. The use of computer-aided design (CAD) and building information modeling (BIM) is enabling manufacturers to produce complex and customized precast concrete products with high precision. Additional
Read more

Relapsed Or Refractory Diffuse Large B Cell Lymphoma Market Growth driven by increased adoption of targeted therapies

Image
Relapsed Or Refractory Diffuse Large B Cell Lymphoma Market Market Overview: Relapsed Or Refractory Diffuse Large B Cell Lymphoma (R/R DLBCL) is an aggressive fast-growing type of non-Hodgkin's lymphoma (NHL) cancer that generally affects immune system cells called B cells. DLBCL can occur at any age but is most common in older adults. Novel targeted therapies like chimeric antigen receptor (CAR) T-cell therapies, bispecific antibodies and antibody-drug conjugates are revolutionizing the treatment of R/R DLBCL. These advanced therapies are offering new hope to patients by increasing survival rates. Market key trends: One of the key trends in the R/R DLBCL market is the increasing adoption of CAR T-cell therapies. CAR T-cell therapy is an innovative new approach to treating R/R DLBCL through the use of genetically engineered T-cells. Drugs like Kymriah and Yescarta have proven highly effective in treating certain patients with relapsed or refractory forms of large B-cell lymphoma.
Read more

The global Biopharmaceuticals Market connected with therapeutic biologics

Image
Biopharmaceuticals Market Market Overview: The biopharmaceuticals market comprises medicines produced using biotechnology methods like genetic engineering and includes vaccines, blood components, recombinant therapeutic proteins/antibodies, and monoclonal antibodies. Biopharmaceuticals are often used for treating serious medical conditions like cancer, autoimmune diseases, and other chronic disorders. These drugs provide targeted treatment options and have lesser side effects than traditional small-molecule drugs. The market is witnessing high demand due to increasing prevalence of chronic diseases and growing geriatric population globally. Market key trends: One of the key trends gaining traction in The Biopharmaceuticals Market Demand is the increasing adoption of biosimilars. Biosimilars are quasi-generic versions of original biologics and provide more affordable treatment options when the patents of biologics expire. Regulatory agencies in various regions are also approving bios
Read more