New York, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The Smoke Evacuation System Market revenues were estimated at US$ 199.6 Million in 2022 and are anticipated to grow at a CAGR of 9.9% from 2023 to 2033, according to a recently published Persistence Market Research report. By the end of 2032, the market is expected to reach US$ 555.6 Million.
The continuing advances in healthcare infrastructure, growing patient population, rising healthcare expenditure, improving distribution networks, and the steady increase of health tourism have been augmenting the market growth. A large number of clinical tourists have been lured to some of the developing countries by the provision of high-quality surgical services at lower costs than in industrialized markets.
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Aesthetic, gastric, and prosthetic surgical operations are examples of elective surgeries that are undertaken to improve a patient's aesthetic appearance. For instance, lipid removal, tissue charring, or tissue resection, the bulk of these procedures use elevated-temperature or energy-intensive instruments, all of which can generate considerable amounts of the surgical plume.
Due to a lack of data supporting its clinical benefits, surgeons have expressed a limited preference for smoke evacuation during elective surgeries. However, as the legal landscape and industry requirements surrounding the mandated use of evacuation devices during surgical procedures evolve, target end users are expected to use them more inexpensively, and more effectively.
Throughout the forecast period, North America is likely to gross significant revenue in the market. This is due to variables such as the increasing number of occurrences of smoke plumes during surgery from both facial treatments and laparoscopic such as Botox.
Regulatory authorities such as the National Institute for Occupational Safety and Health have labeled surgical smoke as a danger (NIOSH). The NIOSH raises public awareness in order to reduce smoke plume exposure. In addition, the increased frequency of chronic diseases in the region, technological advancements, and the presence of significant firms in the region as domiciles are driving growth and ensuring the region's supremacy.
Competitive Landscape
- Medtronic
- CONMED Corporation
- Zimmer Biomet
- Stryker
- Ethicon Inc
- Erbe Elektromedizin GmbH
- Symmetry Surgical Inc.
- Pall Corporation
- KLS Martin Group
- Olympus Corporation
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A number of regional and global players are operating in this market. These companies compete based on the innovation of their products, quality, brand reputation, and market presence to sell their products through various industries. Companies are employing a variety of strategies to remain competitive.
- KLS Martin Group purchased Stuckenbrock Medizintechnik's principal business operations in May 2020. The goal of this strategy was to grow the company's OEM business.
- CONMED Signs a Definitive Agreement to Acquire Buffalo Filter LLC in December 2018.
- SafeAir AG, a Swiss medical device firm, was bought by Stryker Corporation, an American multinational medical technology company, in July 2018. Stryker's smoke evacuation and surgical instrument portfolio in Europe and the United States will be bolstered by the acquisition.
- Megadyne Medical Products, Inc., which is a private firm that develops, manufactures, and markets electrosurgical equipment used in operating rooms around the world, was bought by Ethicon Endo-Surgery, Inc. in January 2017.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Smoke Evacuation System market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights
- by Product Type (Smoke Evacuating Systems, Smoke Evacuation Filters, Smoke Evacuation Pencils & Wands, Smoke-Evac Fusion Products, Smoke Evacuation Tubings, Accessories),
- by Therapy Type (Laparoscopic Surgeries, Orthopedic, Medical Aesthetic Surgeries, Other Applications),
- by End-use (Hospitals, Ambulatory Surgical Centers, Cosmetic Surgery Centers, Dental Clinics, Veterinary Healthcare Providers),
- across five regions (North America, Latin America, Europe, Asia Pacific and the Middle East & Africa).
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Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations.
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