Global Sevoflurane Market Size, Share, and COVID-19 Impact Analysis, By Application (Induction and Maintenance), By Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Retail Pharmacies), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030Industry: Healthcare
Global Sevoflurane Market Insights Forecasts to 2030
- The global sevoflurane market was valued at USD 370.2 billion in 2021.
- The market is growing at a CAGR of 4.5% from 2021 to 2030
- The global sevoflurane market is expected to reach USD 1252.2 billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global sevoflurane market is expected to reach USD 1252.2 billion by 2030, at a CAGR of 4.5% during the forecast period 2021 to 2030. It is anticipated that inorganic activities such as collaborations, agreements, acquisitions, and others will be among the primary growth drivers of the global sevoflurane market throughout the forecast period. Other growth drivers include rising research and development activities, rising product launches and approvals, and rising product launches.
An anesthetic known as sevoflurane is one of the general anesthetics that fall within the category of medications known as anesthetics. Sevoflurane is administered before and during surgical procedures (lack of consciousness) to provide general anesthesia. Inhalation is the recommended delivery method for sevoflurane. Even while sevoflurane can be administered independently, it is typically mixed with several other types of anesthetics. This can contribute to the generation of more potent anesthetics in certain people. The patient's blood pressure and pulse rate can be more easily maintained during the procedure using sevoflurane. In addition, sevoflurane can be utilized to assist in managing postoperative pain. It is anticipated that inorganic activities such as acquisitions, agreements, collaborations, and others will be among the primary growth drivers of the global sevoflurane market throughout the forecast period. Other growth drivers include rising research and development activities, rising product launches and approvals, and rising product launches. For example, in November 2021, The diversified healthcare services company Tenet Healthcare Corporation and its subsidiary United Surgical Partners International (USPI) declared that they had struck a binding agreement with the owners of SurgCenter Development (SCD) to buy SCD. Tenet Healthcare Corporation would be able to purchase SurgCenter Development thanks to this deal. Tenet/USPI will, following the terms of the agreement, buy SCD's ownership interests in 92 ambulatory surgical centers (ASCs) and associated ambulatory support services. According to the World Journal of Surgery published in 2021, 3646 operations were conducted to satisfy the surgical requirements of the population in India. This number compares to the global average of 5000 surgeries per 100,000 people. The most prevalent types of surgical procedures performed were cesarean sections, cataract operations, fracture repairs, and hernia repairs. In April of 2021, the University of Malaya, a public research university located in Kuala Lumpur, Malaysia, began a Phase 4 study to compare sevoflurane and propofol sedation in end-stage renal failure (ESRF) patients undergoing transposition of brachiocephalic fistula repair. The study aimed to determine which sedation method was more effective in restoring patients' quality of life.
This research report categorizes the market for global Sevoflurane based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global Sevoflurane market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global Sevoflurane market sub-segments.
Global Sevoflurane Market Report Coverage
|Market Size in 2021:||USD 370.2 billion|
|Forecast Period 2021-2030 CAGR:||4.5 %|
|2030 Value Projection:||USD 1252.2 billion|
|Historical Data for:||2017-2020|
|No. of Pages:||215|
|Tables, Charts & Figures:||102|
|Segments covered:||By Application, By Distribution Channel, by Region, COVID-19 Impact Analysis|
|Companies Covered:||Abbott Laboratories, Baxter, Manus Aktteva Biopharma LLP, Piramal Pharma Solutions, Lunan Pharmaceutical Group, Wellona Pharma, Troikaa Pharmaceuticals Limited, Maruishi Pharmaceutical Co., Ltd., Abbvie, Rewine Pharmaceutical|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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- In 2021, the maintenance segment dominated the market with the largest market share of 55% and market revenue of 203.61 billion.
Based on the application type, the sevoflurane market is categorized into induction and maintenance. In 2021, the maintenance segment dominated the market with the largest market share of 55% and market revenue of 203.61 billion. Because it involves sterilizing sevoflurane through ethylene oxide and irradiation as procedures, the Maintenance segment will be responsible for the highest share of the market's revenue. In addition, the sector's expansion is driven by the growing interest in preserving sevoflurane.
- In 2021, the Hospital Pharmacies segment accounted for the largest share of the market, with 35% and a market revenue of 129.57 billion.
Based on distribution channels, the sevoflurane market is categorized into hospital pharmacies, online pharmacies and retail pharmacies. In 2021, the hospital pharmacies segment dominated the market with the largest market share of 35% and market revenue of 129.57 billion. Due to a rise in the number of sevoflurane products they sell, hospital pharmacies have been responsible for most of the market's income. In addition, the expanding market for sevoflurane contributes to the expansion of the hospital pharmacy sector.
Regional Segment Analysis of the Sevoflurane Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, North America emerged as the largest market for the global Sevoflurane Market, with a market share of around 38% and 140.6 billion of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global Sevoflurane Market, with a market share of around 38% and 140.6 billion of the market revenue. The market for global Sevoflurane in the North American region has been expanding owing to several small and medium enterprises' increasing R&D activities to develop medical healthcare facilities in the healthcare sector. Because of the rising quality of surgical care in the United States, it is anticipated that the sevoflurane market in North America will continue to occupy a leading position throughout the forecasted period.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2022 and 2030, owing to the increasing demand for several applications such as catheters & cannulas, drug delivery systems, bulk medical tubing, and other special applications (smoke evacuation tubing and peristaltic pump tubing). In addition, the increase in healthcare accessibility and the rapidly growing demand for minimally invasive medical procedures adds impetus to the market’s growth in the region. The multiplying middle-class population in China and India increases the demand for minimally invasive techniques. There is an advancement in the efficient medical devices in the region coupled with the increasing interest of people in taking care of elderly people at home with easy & simple products.
The report offers the appropriate analysis of the key organizations/companies involved within the Global Sevoflurane Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Abbott Laboratories
- Manus Aktteva Biopharma LLP
- Piramal Pharma Solutions
- Lunan Pharmaceutical Group
- Wellona Pharma
- Troikaa Pharmaceuticals Limited
- Maruishi Pharmaceutical Co., Ltd.
- Rewine Pharmaceutical
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In July 2020, Baxter International Inc., a world leader in the production and distribution of sterile pharmaceuticals, announced a formal agreement to commercialize technology to capture and recycle anesthetic gases. According to the terms of the agreement, Baxter will have exclusive rights to purchase ZeoSys Medical as well as international distribution rights, an exclusive license to market the technology outside of Europe, and an exclusive opportunity to do so.
- In April 2022, According to data collected using the Society's new, more precise digital technology, aesthetic plastic surgery grew in the United States in 2021. The Aesthetic Society is the world's largest association devoted exclusively to cosmetic and cosmetic medicine and facial and body aesthetic plastic surgery. The data reveals a significant increase in the torso, breasts, and face treatments.
- In April 2022, The U.S. Food and Drug Administration granted pre-market approval (PMA) for GE Healthcare's end-tidal (Et) Control software, which is used to deliver general anesthesia on the Aisys CS2 Anesthesia Delivery System (FDA). GE Healthcare is the only manufacturer authorized to offer general anesthesia with end-tidal concentration control in the United States.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Sevoflurane market based on the below-mentioned segments:
Global Sevoflurane Market, By Application
Global Sevoflurane Market, By Distribution Channel
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
Global Sevoflurane Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Sevoflurane market?As per Spherical Insights, the size of the Sevoflurane market was valued at USD 370.2 billion in 2021 to USD 1252.2 billion by 2030.
What is the market growth rate of the Sevoflurane market?The Sevoflurane market is growing at a CAGR of 4.5% from 2021 to 2030.
Which country dominates the Sevoflurane market?The North America emerged as the largest market for Sevoflurane.
Who are the key players in the Sevoflurane market?Key players in the Sevoflurane market are Abbott Laboratories, Baxter, Manus Aktteva Biopharma LLP, Piramal Pharma Solutions, Lunan Pharmaceutical Group, Wellona Pharma, Troikaa Pharmaceuticals Limited, Maruishi Pharmaceutical Co., Ltd., Abbvie, and Rewine Pharmaceutical.
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