Anesthesia Gas Scavenging System Market Estimated to Witness High Growth Owing to Growing Number of Surgical Procedures
Anesthesia gas scavenging systems are medical devices that safely dispose of waste anesthetic gases from operating/procedure rooms and prevent their release into the atmosphere. They help collect, filter, and dispose of exhaled gases from patients receiving general anesthesia. These systems ensure protection of operating room staff and patients from long term exposure to anesthesia gases and vapors.
The global anesthesia gas scavenging system market is estimated to be valued at US$ 8484.9 Mn 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 Dynamics:
One of the key drivers for the growth of the anesthesia gas scavenging system market is the growing number of surgical procedures worldwide. According to the Centers for Disease Control and Prevention (CDC), in the United States alone, over 50 million surgeries are performed annually. Similarly, data from Organization for Economic Co-operation and Development (OECD) states that on average, among OECD countries over 2,000 procedures are performed per 100,000 population annually. This increasing procedural volume is expected to drive the demand for anesthesia machines and medical gas scavenging systems in operation rooms to ensure staff and patient safety. Additionally, growing awareness about health hazards of untreated medical waste gases is also prompting healthcare facilities to increasingly adopt scavenging systems. However, high replacement and maintenance costs of these systems may hinder market growth over the forecast period.
SWOT Analysis
Strength: Anesthesia gas scavenging systems help prevent pollution and exposure to anesthetic gases which improves safety for medical staff and patients. They effectively collect and filter expired gases to meet environmental regulations. Their use allows for precise control and monitoring of anesthetic gases during surgery.
Weakness: High initial costs of installation and equipment. Additional training may be required for operation and maintenance of advanced gas scavenging systems. Limited portability compared to passive scavenging techniques.
Opportunity: Growing awareness about health impacts of waste anesthetic gases is driving demand. Anesthesia procedures are increasing with rise in surgical volumes worldwide. Technological advances enable real-time gas monitoring and automated record-keeping.
Threats: Budgetary constraints in some hospitals may impede upgrades to newer systems. Likelihood of alternative techniques that are as effective but cheaper. Competition from local players offering low-cost solutions.
Key Takeaways
The global anesthesia gas scavenging system market is expected to witness high growth. The global anesthesia gas scavenging system market is estimated to be valued at US$ 8484.9 Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030.
Regional analysis related content comprises: North America accounts for the largest share of the anesthesia gas scavenging system market owing to stringency of environmental and safety guidelines enforced by organizations like The Joint Commission. However, the market in Asia Pacific is expanding rapidly at a CAGR of over 12% during the forecast period. Countries like China, India, Japan, and South Korea are major revenue generators within the region due to improving access to healthcare, rising medical tourism, and growing demand for effective waste management solutions in hospitals and clinics.
Key players related content comprises: Key players operating in the anesthesia gas scavenging system 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.
