Sevoflurane Source Market Size, Share, Growth, and Industry Analysis, By Type (Animals and Children), By Application (Agents and Direct Sales), and Regional Forecast to 2028

Updated On: 22 April 2024

Report Overview

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The global sevoflurane source market size was USD 1219.2 million in 2021. As per our research, the market is expected to reach USD 1534.5 million by 2028, exhibiting a CAGR of 3.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the sevoflurane source market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A sevoflurane source is a device that delivers sevoflurane, an inhalational anesthetic, to a patient during surgery. Sevoflurane is a clear, colorless liquid that is vaporized and inhaled by the patient. It is a popular choice for anesthesia because it has a rapid onset and offset of action, and it is less likely to cause nausea and vomiting than other inhalational anesthetics.

Sevoflurane source cartridges are pre-filled containers of sevoflurane that can be connected to a breathing circuit. They are often used in ambulatory surgery centers and other settings where a vaporizer is not available. Sevoflurane source cartridges are typically smaller and more portable than vaporizers, but they may not be as accurate in delivering the desired concentration of sevoflurane.

COVID-19 Impact: Pandemic Decreased the Market Demand

The COVID-19 pandemic has had a significant impact on the sevoflurane source market share. The COVID-19 pandemic has led to a decrease in the number of surgeries performed, as hospitals have had to prioritize the treatment of COVID-19 patients. This has resulted in a decline in the demand for sevoflurane, as it is used primarily in surgeries. There has been a shift towards outpatient surgeries during the pandemic, as this is seen as a safer option for both patients and healthcare workers. This has also led to a decline in the demand for sevoflurane source, as outpatient surgeries typically use less anesthesia than inpatient surgeries. The COVID-19 pandemic has also led to a shortage of sevoflurane source, as manufacturers have been unable to keep up with the demand. This is due to a number of factors, including the closure of factories and transportation disruptions. The shortage of sevoflurane source has also led to an increase in the cost of the drug. This is because manufacturers are able to charge higher prices when there is limited supply. The impact of the COVID-19 pandemic on the market is expected to continue in the near term.

Latest Trends

"Growing preference for sevoflurane over other inhalational anesthetics is expected to fuel the growth in the market"

Sevoflurane is a popular choice of inhalational anesthetic due to its favorable safety profile and rapid recovery time. It is also less likely to cause nausea and vomiting than other inhalational anesthetics. Sevoflurane is generally well-tolerated by patients. It has a low incidence of side effects, such as nausea and vomiting, and is less likely to cause cardiac arrhythmias than other inhalational anesthetics. Sevoflurane source has a rapid onset and offset of action, which means that patients wake up quickly after surgery. This is beneficial for patients who need to be discharged from the hospital soon after surgery. Sevoflurane source is less likely to cause nausea and vomiting than other inhalational anesthetics. This is important for patients who are at risk of these side effects, such as those who have a history of motion sickness or pregnancy. In addition to these advantages, sevoflurane is also relatively easy to administer and has a pleasant odor, which makes it a good choice for pediatric patients.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Animals and Children.

• By Application Analysis

Based on age, the market can be divided into Agents and Direct Sales.

Driving Factors

"Minimally invasive surgeries to foster the market growth"

Minimally invasive surgeries are associated with less pain, shorter recovery time, and lower risk of complications than traditional open surgeries. This has led to an increasing demand for minimally invasive surgeries, which in turn has boosted the demand for sevoflurane. Sevoflurane is a popular choice for minimally invasive surgeries because it has a rapid onset and offset of action, which allows patients to wake up quickly after surgery. It is also less likely to cause nausea and vomiting than other inhalational anesthetics, which is important for patients who are recovering from surgery.

"Rising incidence of chronic diseases to result in the expansion of the market"

Chronic diseases such as heart disease, cancer, and chronic obstructive pulmonary disease (COPD) are increasing in prevalence worldwide. These diseases often require surgery, which increases the demand for sevoflurane. Sevoflurane is a popular choice for surgeries involving chronic diseases because it is well-tolerated by patients with these conditions. It is also less likely to cause cardiac arrhythmias than other inhalational anesthetics, which is important for patients with heart disease. Heart disease is the leading cause of death worldwide. It is a chronic condition that affects the heart and blood vessels. Heart disease can require surgery, such as coronary artery bypass grafting or valve replacement.

Restraining Factors

"Shortage to hamper the market growth"

There have been shortages of sevoflurane in recent years due to a number of factors, such as manufacturing disruptions and increased demand. This has further limited the availability of sevoflurane and driven up its prices.

Regional Insights

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"Asia Pacific to lead the market owing to Growing healthcare expenditure"

The Asia Pacific region has shown the highest sevoflurane source market growth. Sevoflurane is a popular choice of inhalational anesthetic in the Asia-Pacific region due to its favorable safety profile and rapid recovery time. It is also less likely to cause nausea and vomiting than other inhalational anesthetics. Healthcare expenditure is growing in the Asia-Pacific region, which is leading to an increase in the demand for sevoflurane.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market"

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Abbott: Abbott Park, IL, US
• Baxter: Deerfield, IL, US
• Maruishi: Osaka, Japan
• Jiangsu Hengrui: Lianyungang, Jiangsu, China
• Lunan: Nanjing, Jiangsu, China

Report Coverage

This report examines an understanding of the sevoflurane source market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.