Anesthesia Gas Scavenging System is Estimated to Witness High Growth Owing to Growing Need for Waste Anesthetic Gas Disposal and Management

Anesthesia gas scavenging system is used to collect waste gases and vaporized anesthetic gases from patient breathing circuits to prevent pollution and protect medical staff and patients. Anesthesia gas scavenging systems play a vital role in waste anesthetic gas disposal and management by safely removing toxic gases from the operating room environment. The rising number of surgical procedures performed and growing concerns regarding health hazards of waste anesthetic gas exposure are fueling the need for effective waste anesthetic gas disposal, thus driving the anesthesia gas scavenging system market. The global anesthesia gas scavenging system market is estimated to be valued at US$ 8,484.9 million in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
Growing Need for Waste Anesthetic Gas Disposal and Management

Effectively managing waste anesthetic gases is crucial to enhance safety standards and minimize exposure risks in healthcare facilities. Growing concerns regarding health hazards associated with waste anesthetic gas exposure such as nausea, dizziness, respiratory issues are propelling the demand for advanced scavenging systems for safe disposal. Moreover, stringent regulatory mandates in developed countries regarding ventilation measures and gas disposal systems in operating rooms provide lucrative opportunities. Advanced real-time gas monitoring and sensor-based scavenging systems that facilitate automated alerts on gas leakages are gaining popularity. Introduction of portable and modular systems for flexible waste gas evacuation from multiple locations within clinical premises also presents opportunities. Healthcare providers are increasingly investing in technologically advanced scavenging solutions to create a safe work environment and ensure compliance with regulatory standards for waste anesthetic gas management.

Porter’s Analysis
Threat of new entrants: The Anesthesia gas scavenging system market is having moderate threat as it requires high initial investment for R&D and manufacturing facilities. Bargaining power of buyers: The bargaining power of buyers is high due to the availability of alternative options in the market and established buyers in the healthcare industry. Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitutes and differentiated products. Threat of new substitutes: The threat of new substitutes is low as alternative options are still in development phase. Competitive rivalry: The competitive rivalry in the market is high as the key players are focusing on new product launches and mergers & acquisitions.

SWOT Analysis
Strengths: High precision and safety of anesthesia gas scavenging systems. Growing demand for eco-friendly anesthesia equipment.
Weaknesses: High cost of machines. Requires professional handling.
Opportunities: Growth opportunities in emerging markets. Technological advancements in product offerings.
Threats: Stringent regulatory approval process. Threat from refurbished and rental anesthesia machines.

Key Takeaways
The global Anesthesia gas scavenging system market is expected to witness high growth at a CAGR of 9.2% during the forecast period of 2023 to 2030. The market size in 2024 is estimated to reach US$ 8484.9 Mn.

Regional analysis dominated by North America due to advanced healthcare infrastructure and growing number of surgeries.

Key players in the market are INVISTA, Asahi Kasei Corporation, Hyosung Corporation, Zhejiang Huafon Spandex Co. Ltd., Yantai Tayho Advanced Materials Co. Ltd., Indorama Industries Ltd, TK Chemical Corp., Taekwang Industrial Co., Ltd, Jiangsu Shaungliang Spandex Co., Ltd., and Xiamen Lilong Spandex Co. Ltd. The Asia Pacific region is expected to grow at the fastest rate during the forecast period owing to rising healthcare expenditure, increasing prevalence of chronic diseases and improvement in medical infrastructure in emerging countries like India and China.