Sevoflurane is an ether type inhalation anesthetic that features a fast onset of anesthesia induction and recovery. It is increasingly being used for general anesthesia during surgical procedures, especially in pediatrics. The rising prevalence of chronic diseases and the increasing frequency of surgical procedures are fueling the demand for sevoflurane anesthetics globally.
Market key trends:
The increasing adoption of sevoflurane as an anesthetic agent in developing economies is one of the major trends that is projected to drive the global market growth over the forecast period. Developing countries in Asia Pacific and Latin America are witnessing rising healthcare expenditures and increasing modernization of healthcare facilities. This is increasing the adoption rate of advanced anesthetic drugs like sevoflurane for surgical procedures in these regions. Moreover, sevoflurane offers advantages like rapid induction and recovery, which is boosting its preference among healthcare practitioners and patients alike in developing markets. The growing medical tourism in Asian economies is also estimated to contribute to the growing adoption of sevoflurane during the forecast period.
Segment Analysis
The global sevoflurane market is divided into segments based on application and end user. Based on application, the anesthesia segment holds the largest market share and is expected to witness high growth. Sevoflurane is widely used for general anesthesia owing to its pharmacological properties such as non-flammability and low pungency. It provides quicker patient induction and recovery compared to other inhalation anesthetics such as desflurane. This has resulted in the anesthesia segment dominating the market.
Key Takeaways
The Global Sevoflurane Market Growth is expected to witness high over the forecast period supported by increasing number of surgeries and rising demand for ambulatory surgeries. The global sevoflurane market is estimated to be valued at US$ 445.24 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.
Regional analysis: North America holds the largest share of the global market and is expected to maintain its dominance during the forecast period. This can be attributed to the rising prevalence of chronic diseases and growing elderly population requiring surgical treatments in the US and Canada.
Key players: Key players operating in the sevoflurane market are Kimberly-Clark Corporation, Georgia Pacific LLC, SCA, Procter & Gamble, Clearwater Paper Corporation, Wausau Paper Corp., and Kruger Products. These players are focusing on new product launches and geographic expansion to strengthen their market position. The market is also witnessing the entry of generics which can intensify competition.
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