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The global anesthesia gas scavenging system market has witnessed significant growth over the past few years owing to the growing burden of chronic diseases and the subsequent increase in the number of surgical procedures performed globally. Anesthesia gas scavenging systems are used to collect waste anesthetic gases during anesthetic delivery and surgery to protect operating room staff and the environment from possible health hazards associated with prolonged exposure. These systems consist of hoses, valves, pipes, and filters that are connected to an anesthetic machine to collect waste gases released from the patient’s breathing circuit and safely vent them outdoor. Factors such as the increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, respiratory diseases and neurological disorders have led to surge in surgical volume globally. Moreover, the rapidly growing geriatric population who are more susceptible to chronic diseases and injuries has further contributed to market 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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the anesthesia gas scavenging system market is the growing preference for standalone workstations. Standalone workstations are compact anesthesia gas scavenging systems that do not require connection to an external gas source and ventilation system. They independently collect and filter waste anesthetic gases within the system itself before releasing clean air. Their independent functioning makes them highly portable and suitable for ambulatory surgical centers and small operating rooms where space is a constraint. This has increased their adoption in outpatient surgical facilities globally. Moreover, technologicaladvancements aimed at improving portability, efficiency and safety of these systems have further contributed to the growing demand for standalone workstations. For instance, many new systems feature built-in pumps, filters, and venting mechanisms to offer a self-contained solution with minimal dependence on facility infrastructure.
Porter’s Analysis
Threat of new entrants: The Anesthesia Gas Scavenging System market has moderate threat from new entrants due to high capital investment required to set up operations.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutable products.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of alternative suppliers.
Threat of new substitutes: Threat from substitutes is low as Anesthesia Gas Scavenging System are highly specialized products.
Competitive rivalry: The market is moderately competitive due to presence of a few global players.
Key Takeaways
The global Anesthesia Gas Scavenging System market is expected to witness high growth.
Regional analysis: North America is expected to hold major market share in the global market due to increasing focus of governments on patient safety and rising demand for anesthetic equipment. Europe is also expected to contribute significantly to the market growth due to growing healthcare infrastructure and awareness.
Key players: 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. TK Chemical Corp is one of the leading suppliers of anesthesia equipment.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
