The global anesthesia CO2 absorbent market size is expected to reach USD 135.57 Million in 2030 and register a revenue CAGR of 9.1% over the forecast period, according to latest report by Reports and Data. The number of surgical procedures performed for the treatment of people suffering from neurological conditions, cardiac arrest, respiratory ailments, and diabetes has risen significantly. The number of accidents is also increasing with increasing global population, resulting in more surgical procedures being performed to save lives. This, in turn, is increasing demand for anesthesia, which is expected to drive market revenue growth over the forecast period. According to data published by National Center for Biotechnology Information (NCBI) in 2020, around 310 million major surgeries are performed globally each year; around 40 to 50 million in the U.S, and 20 million in Europe.

Cardiothoracic, orthopedic, vascular, and neurological diseases or disorders usually necessitate surgical treatment. Higher frequency of surgical treatments, such as open-heart surgery for vein blockage treatment, as well as increasing prevalence of cardiovascular disease, arthritis, and cancer, are driving demand for general operations and thus, demand for anesthesia CO2 absorbent.

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Manufacturers are embracing novel medical technologies to meet unmet patient demands, and several treatment methods have now become more streamlined, efficient, cost-effective, and less stressful for patients due to multiple product introductions. In December 2020, for instance, Smiths Medical announced that they had launched Portex EchoGlo peripheral nerve block portfolio. Development and launch of such new and advanced products is expected to play a major role in revenue growth of the global anesthesia CO2 absorbent market.

Some Key Highlights From the Report

• In December 2020, Smiths Medical, a leading medical device manufacturer, announced the launch of its EchoGlo peripheral nerve block portfolio. This addition to the Portex portfolio of pain management products offers customers a complete solution for regional anesthesia from the pump to patient.
• Based on product, the market is segmented into soda lime, medisorb, dragersorb, amsorb, litholyme, and other products. The soda lime segment is expected to register a steady revenue CAGR of 2.1% over the forecast period, mainly due to supportive initiatives taken by governments of various countries and research development initiatives to develop better CO2 absorbent formulations.
• Based on type, the market is segmented into traditional and premium. The premium segment is expected to register a robust revenue growth rate over the forecast period. The segment is expected to reach a value of USD 122.96 Million by 2030, registering a CAGR of 10.1% over the forecast period.
• Based on form, the market is segmented into granular form and powdered form. The powdered form segment is expected to register a faster revenue growth rate over the forecast period. There is increasing demand for powdered anesthesia CO2 absorbent than the granular form, which is made up of dusty, loose pellets, or granules that might shift and settle.
• Based on end user, the market is segmented into hospitals, clinics, and other end users. The hospitals segment accounted for largest revenue share in 2021 and is expected to register a significantly faster growth rate during the forecast period, due to factors such as presence of well-resourced operating rooms, increasing purchasing power of people, presence of highly skilled healthcare professionals in hospitals, and improved health coverage provided for hospital-based healthcare services by several private and group insurance plans.
• The Asia-Pacific anesthesia CO2 absorbent market is expected to register the fastest growth rate over the forecast period, due to increase in geriatric population, which is likely to result in significant increase in demand for surgeries in Asia-Pacific. The overall increase in the number of surgeries performed is expected to have a strong impact on the anesthesia CO2 absorbent market in Asia-Pacific, as anesthetic drugs are used in surgical procedures to reduce pain. The geriatric population is highly prone to degenerative diseases and chronic illnesses, which is expected to increase demand for surgeries and therapeutics, and thereby drive revenue growth of this market.

  Research Methodology:

Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Anesthesia CO2 Absorbent Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.

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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.

The growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and RD activities to hamper the market growth

The imposition of strict government regulations and shortage of funds has put a halt on product launches and RD activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.

  Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as RD investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

• Drägerwerk AG and Co. KGaA (Germany)
• GE Healthcare (U.S.)
• Allied Healthcare Products, Inc. (U.S.)
• Smiths Medical, Inc. (U.S.)
• Vyaire Medical, Inc. (U.S.)
• Intersurgical, Ltd. (England)
• Armstrong Medical, Ltd. (U.K.)
• Molecular Products Group, Ltd. (England)
• Micropore, Inc. (U.S.)
• Lowenstein Medical UK, Ltd. (England)
• Atrasorb (Brazil)

  Anesthesia CO2 Absorbent Market Segmentation:

Product Outlook:

• Soda Lime
• Medisorb
• Dragersorb
• Amsorb
• Litholyme
• Others

Type Outlook:

• Traditional
• Premium

End-use Outlook:

• Hospitals
• Clinics
• Others

Form Outlook:

• Granular Form
• Powdered Form

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of LATAM)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East Africa)

  Frequently asked questions addressed in the report:

• What is the revenue growth rate of the global Anesthesia CO2 Absorbent market over the forecast period?
• What are the major factors driving the growth of the Global Anesthesia CO2 Absorbent Market?
• What are the key challenges impacting the global Anesthesia CO2 Absorbent market growth?
• What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?

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