Sevoflurane Source Market - Forecast(2024 - 2030)

Sevoflurane Source Market Overview

The sevoflurane source market size is estimated to reach US$250 million by 2027 after growing at a CAGR of around 1.7% from 2022 to 2027. The sevoflurane is general anesthesia that reduces the activity of central nervous system in the body. It is an ether compound that has fluoromethyl and 1, 1, 1, 3, 3, 3-hexafluroisopropyl as alkyl groups. The medical gases such as nitric oxide and oxygen are usually mixed with the precise concentration of anesthetic sevoflurane vapor and transported through carbon nanotubes to offer controlled flow got the patients. The growing demand of sevoflurane as inhalation anesthesia for surgeries is creating a drive in the sevoflurane source market. Furthermore, the rise in application of sevoflurane across various hospitals, pharmaceutical, surgical centers, and other end-use industries will offer major growth in the market during the forecast period.

Sevoflurane Source Market COVID-19 Impact

The covid outbreak had a major impact on the sevoflurane source market. The sevoflurane has major demand in various end-users such as hospitals, surgery center, clinics, and others. The healthcare sector faced major disruption and disturbed supply chain during the initial phase of pandemic. The admission of the covid infected patients in the hospitals increased, however the medical system was disturbed with low production of medical devices, shortages in raw materials, logistics disruptions, and other lockdown restrictions. Furthermore, with recovery in medical infrastructure and surgical technologies, the application of sevoflurane source increased. According to the Centers for Medicare & Medicaid Services (CMS), the hospital spending increased by 6.4% in 2020, reaching USD 1.3 trillion in 2020. This led to growth opportunities in the market during the later phase of pandemic. Thus, the global sevoflurane source industry experienced major demand post pandemic.

Report Coverage

The report: “Sevoflurane Source Market Report– Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the global sevoflurane source industry.

Key Takeaways

Figure: North America Sevoflurane Source Market Revenue, 2021-2027 (US$ Million)

For more details on this report - Request for Sample

Sevoflurane Source Market Segment Analysis – By Application

By application, the inhalation anesthesia segment accounted for the largest share in the sevoflurane source market and is expected to grow with a CAGR of around 2.2% during the forecast period. The growth of sevoflurane is influenced by its increasing application for general anesthesia during surgeries as induction and maintenance of the general anesthesia. The inhalation anesthetic medications such as nitric oxide, sevoflurane, and others are used for geriatric population, paediatric, and other age grouped. Furthermore, the growing application for inhalation anesthesia is influenced by the surge in surgical procedures for emergency cases and accidents. According to the Healthcare Cost and Utilization Project (HCUP), the encounter for the major ambulatory surgeries undertaken in hospital facilities accounted for 11.9 million in 2019. Thus, with growing demand for sevoflurane in general anesthetic application in surgeries and other diagnostic disorders, the sevoflurane source market will grow during the forecast period. 

Sevoflurane Source Market Segment Analysis – By End-Use Industry

By end-use industry, the hospitals segment held the largest sevoflurane source market share and is expected to grow with a CAGR of over 1.5% during the forecast period. The demand of sevoflurane is high in the hospital end-users owing to its growing application in surgeries, diseases treatment procedures, and others. This fluoromethyl 2, 2, 2,-trifluoro-1-(trifluoromethyl) ethyl ether offers applications in maintenance and induction of anesthetics in hospitals. The sevoflurane increases the cyclic guanosine monophosphate level of the brain and also creates a rise in cerebral blood flow. Moreover, the growing demand of anesthetic in health conditions such as respiratory disorders, cancer, gastrointestinal disorders, and others is influencing the growth of sevoflurane source industry. According to the American Hospital Association (AHA), the AHA annual survey described total 6,093 U.S hospitals in 2020, with total expenses of all U.S. hospital accounting for USD 1.2 trillion. Thus, with rising application of sevoflurane as anesthetics for surgeries, treatment program procedures, and others in hospital sector, along with growing development in hospital infrastructure, the sevoflurane source market will grow rapidly during the forecast period. 

Sevoflurane Source Market Segment Analysis – By Geography

By geography, the North America is the fastest-growing region in the sevoflurane source market and is expected to grow with a CAGR of around 2.7% during the forecast period. The robust growth of sevoflurane in this region is influenced by the surge in applications for emerging accidental cases, cancer, and other diagnostic disorders. The rise in the healthcare infrastructure and advancement in hospitals and surgical procedures is influencing the growth for sevoflurane source market. According to the World Bank, the health expenditure in 2019 accounted for 16.32% of the GDP in North America. Furthermore, with major development in anesthetic delivery systems and growing hospital sector, the demand for sevoflurane in general anesthesia will rise. Thus, with major demand of sevoflurane in hospitals and pharmaceutical industry, the global sevoflurane source industry will experience major growth during the forecast period.

Sevoflurane Source Market Drivers

Rising adoption in surgical procedures

The sevoflurane has growing application in the surgeries as they work by stimulating the inhibitory neurohormones and maintains the anesthetic effects during the surgical procedures. The high demand of inhalation anesthetics such a sevoflurane, isoflurane, and others for treatment of various diseases such as cancer treatment, respiratory diseases, and others is driving the sevoflurane source market. According to the Plastic Society Of Plastic Surgeons, around 6.8 million reconstructive procedures, 211,067 liposuction surgical procedures, and 5.2 million tumor removal procedure were performed in 2020. Thus, the rise in surgical procedures and development in hospitals, ambulatory surgical centers, and others is offering major growth in the sevoflurane source market.

Growing healthcare sector

The sevoflurane source market has rising demand in the hospital, ambulatory surgery center, veterinary drugs, and others in the healthcare sector. The rapid development and advancement in the medical sector is creating a drive for the sevoflurane source market. The rise in surgical procedure and technologies is boosting the demand for inhalation anesthetics. According to India Brand Equity Foundation (IBEF), the healthcare sector in India is expected to reach around USD 372 billion by the year 2022. Thus, the growth in medical technologies and healthcare sector is offering major growth opportunities in the  sevoflurane source market.

Sevoflurane Source Market Challenges

Hazardous environmental effects

The demand for inhalation anesthetic is growing owing to its efficiency and performance in general anesthesia maintenance. However, the harmful effects of inhalation anesthetic gases such as sevoflurane, nitric oxide, isoflurane, and others is creating a major challenge for the growth of sevoflurane in the market. The higher concentration of these volatile gases destructs the ozone layer and leads to global warming. For instance, the American Conference of Government Industrial Hygienist (ACGIH) has stated a non-regulatory occupational limit for exposure of 50 ppm for isoflurane. Thus, the harmful impact of sevoflurane inhalation gas in the environment is hindering the demand and growth prospects in the market.

Sevoflurane Source Industry Outlook

The global sevoflurane source top 10 companies include:

1. Baxter Healthcare Corp.
2. Abbott Laboratories
3. Jiangsu Hengrui
4. Lunan
5. Maruishi Pharmaceutical
6. Piramal Enterprises Limited
7. Fresenius Kabi AG
8. Hikima Pharmaceutical PLC
9. AbbVie Inc.
10. Shanghai Hengrui

Recent Developments

Relevant Reports

Breathing Circuits Market - Forecast(2022 - 2027)
Report Code: HCR 73072

Anaesthesia Machines Market - Forecast(2022 - 2027)
Report Code: HCR 0118

Benzocaine Market - Forecast(2022 - 2027)
Report Code: CMR 0989 

For more Chemicals and Materials related reports, please click here