New Jersey, July 03, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled “Anesthesia CO2 Absorbent Market by Product Type (Soda lime, Medisorb, Dragersorb, Amsorb, Litholyme, Others), End User (Hospitals, Clinics), Regions, and Global Forecast 2019-2026”.
The global anesthesia CO2 absorbent market is expected to grow from USD 56.51 Million in 2018 to USD 112.14 Million by 2026, at a CAGR of 8.94% during the forecast period 2019-2026. Increasing investment in developing newer CO2 absorbing formulations, rising prevalence of chronic diseases and huge increase in the number of people undergoing surgical procedures are anticipated to drive the global anesthesia CO2 absorbent market over the forecast period.
The medisorb segment had a market value of USD 16.79 million in 2018
The product type segment includes soda lime, medisorb, dragersorb, amsorb, and litholyme, among others. The medisorb anesthesia CO2 absorbent exhibit superior performance, wide distribution network and product goodwill due these reasons the medisorb segment has emerged as the most dominant segment in the global anesthesia CO2 absorbent market. The medisorb segment holds the revenue of USD 16.79 million in 2018. The amsorb helps to eliminate formation of toxic products and thus is expected to grow as the second dominant segment in the global anesthesia CO2 absorbent market.
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The hospitals segment is anticipated to grow at a CAGR of 11.02% in 2019-2026
The end user segment is divided into hospitals and clinics. The growing prevalence of chronic medical conditions and huge increase in the number of people undergoing surgical procedures has endorsed to the growth of the hospitals segment and this segment is expected to grow at an accelerated CAGR of 11.02% over the forecast period. The availability of the specialized professionals to provide better treatment in accident and trauma cases is the major reason to maintain the dominance of the hospitals segment.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Due to the presence of well-developed healthcare sector, high incidence of chronic diseases along with considerable geriatric population, the North America region dominated the global demand for the anesthesia CO2 absorbent with a revenue of USD 22.18 million in 2018. However, Asia Pacific region is anticipated to grow at the highest CAGR of 11.26% over the forecast period due to the rapid development of healthcare sector and considerable increase in per capita health expenditure.
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The retention of carbon dioxide is mandatory in closed and semi-closed circle breathing frameworks. The removal of CO2 from breathed out gases is accomplished through chemical balance in transparent canisters containing CO2 absorbent granules. Even though the factors such as rising incidence of chronic illnesses, growth in the number of people undergoing surgical procedures as well as huge increase in the percentage of geriatric population are driving the global anesthesia CO2 absorbent market, medical safety concerns related to the improper administration of anesthesia are expected to detain the market growth over the forecast period.
Competitive Analysis:
Major players in the global Anesthesia CO2 Absorbent market are GE Healthcare, Smiths Medical, CareFusion (Becton Dickinson and Co.), Armstrong Medical, and Drager Medical GmbH, King Pharmaceuticals, Allied Healthcare Products, Molecular Products, Micropore, and Medisize among others. In order to enhance market position, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. For instance in 2018, Molecular Products Group announced the acquisition of the SODASORB® business from Henkel. The SODASORB® product range includes carbon dioxide absorbents which have been trusted globally for decades in the healthcare and safety industries. SODASORB® products help to safely and efficiently remove carbon dioxide from anesthesia systems, saturation diving chambers, diving re-breathers, and industrial safety equipment.
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