The Global Anesthesia CO2 Absorbent Market is expected to reach USD 115.55 Million by 2027, according to a new report by Reports and Data. CO2 absorbents are used to absorb the exhaled gases, which mostly comprises of CO2, during the administration of anesthesia.
The increasing occurrence of accidents and chronic ailments, coupled with the growth of the geriatric population, are the drivers of the market demand in the forecast period. Surging incidences of surgical procedures are anticipated to fuel the growth of the market. Additionally, governing institutes, including CDC, CEA, and Anesthesia Patient Safety, have enforced guidelines and safety parameters, which, in turn, would support the growth of the market in the future.
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A surge in the number of people suffering from ailments, which comprise neurological conditions, cardiac arrest, respiratory disorders, and diabetes, has led to a rise in the number of surgical procedures being performed for the treatment, which would have a positive impact on market growth in the upcoming years. As per the World Health Organization, approximately 65 million people suffer from Chronic Obstructive Pulmonary Disease (COPD), and 3 million people die from it every year. It is the third most leading cause of global death.
The degradation of inhaled anesthetics to carbon monoxide, which may produce carboxyhemoglobin concentrations above 30% due to the use of CO2 absorbents containing strong bases (NaOH and KOH), may create hindrances in the growth of the market in the forecast period.
Further key findings from the report suggest
- Medisorb dominated the market, with around 30% of the market share in 2019, and is estimated to have a growth rate of 8.2% in the forecast period. The next product to follow is Soda Lime, with an expected CAGR of 7.8% during the forecast period.
- The traditional Anesthetic CO2, i.e., absorbents containing sodium or potassium hydroxide, held the largest market share in 2019.
- In terms of end-user, hospitals occupied the largest market share in 2019, owing to several surgeries that are being performed in hospitals.
- North America contributed to the largest market share in 2019, with around 40% of the market share and is projected to witness a growth rate of 7.7% in the forecast period. The market dominance of the region is due to the escalation in the number of surgeries being performed and favorable government regulations and endeavors of healthcare agencies to promote medical tourism.
- Key participants include GE Healthcare, Drager Medical GmbH, Armstrong Medical, Smiths Medical, CareFusion, Allied Healthcare, Micropore, Intersurgical, Molecular Products Group, SCL International, and Thomasnet, among others.
- In December 2019, Molecular Products Group, a significant player in the market and a portfolio company of Arlington Capital Partners, announced that it has acquired SODASORB® business from a wholly-owned subsidiary of Henkel AG & Co. KGaA.
- The SODASORB® product range comprises of carbon dioxide absorbents, which have a global presence in the healthcare and safety industries. SODASORB® products assist in safely and efficiently removing carbon dioxide from anesthesia systems, diving re-breathers, saturation diving chambers, and industrial safety equipment.
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For the purpose of this report, Reports and Data segments the Global Anesthetic CO2 Absorbent Market on the basis of product type, type, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2017-2027)
- Soda Lime
Type Outlook (Revenue, USD Million; 2017-2027)
Form Outlook (Revenue, USD Million; 2017-2027)
- Granular Form
- Powered Form (Bounded by Polymer)
End-user Outlook (Revenue, USD Million; 2017-2027)
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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