June 18, 2024
Sevoflurane Market

Global Sevoflurane Market Driven By Rising Use of Sevoflurane in Ambulatory Surgical Centers

Sevoflurane is an inhalational general anesthetic agent which is highly volatile. It has a sweet, ethereal odor and non-flammable properties. Sevoflurane is administered through inhalation using precision vaporizers to carefully control the concentration of vapor delivered to patients. It provides a rapid induction and recovery which is desirable for outpatient procedures. Sevoflurane gas is non-pungent and non-irritating which reduces coughing during induction and emergence from anesthesia. The global sevoflurane market is primarily driven by its increasing usage for conducting short surgical and diagnostic procedures in ambulatory surgical centers. These centers provide cost-effective healthcare facilities for low risk outpatient surgeries and have grown significantly over the past decade. Sevoflurane allows for a smooth and quick induction and recovery which makes it a preferred choice for ambulatory surgical procedures.

The global sevoflurane market is estimated to be valued at US$ 445.24 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

One of the key trends driving the global sevoflurane market growth is the increasing adoption of minimally invasive procedures. Minimally invasive surgeries such as laparoscopy and arthroscopy allow for reduced hospital stay and quick recovery times. Sevoflurane is well-suited for such procedures due to its rapid onset and offset of action. It allows conducting detailed endoscopic examinations and minimally invasive surgeries in ambulatory surgical centers and physician offices. This has boosted the demand for sevoflurane from ambulatory surgical facilities. Moreover, the non-irritating and non-pungent nature of sevoflurane reduces coughing episodes in patients during induction and emergence. This enhances patient comfort and safety, thereby augmenting its demand especially for pediatric procedural sedation in ambulatory settings.

Porter’s Analysis

Threat of new entrants: The threat of new entrants into the sevoflurane market is moderate due to high capital requirements and regulatory barriers.

Bargaining power of buyers: The bargaining power of buyers in the sevoflurane market is high due to the presence of many established market players and product substitutes.

Bargaining power of suppliers: The bargaining power of suppliers in the sevoflurane market is low due to the availability of raw materials from different sources.

Threat of new substitutes: The threat of new substitutes in the sevoflurane market is high due to the availability of alternative anesthetic drugs like isoflurane and desflurane.

Competitive rivalry: The competitive rivalry in the sevoflurane market is high due to the presence of many global and regional players.

Key Takeaways

The Global Sevoflurane Market Demand is expected to witness high growth. The global sevoflurane market is estimated to be valued at US$ 445.24 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.

North America dominates the global sevoflurane market owing to the presence of major market players like AbbVie Inc., Baxter International Inc., and Halocarbon Products Corporation.

Key players operating in the sevoflurane market are Kimberly-Clark Corporation, Georgia Pacific LLC (Koch industries), SCA (Svenska Cellulosa Aktiebolaget), Procter & Gamble, Clearwater Paper Corporation, Wausau Paper Corp., and Kruger Products, among others.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it