The global anesthesia CO2 Absorbent market size is expected to grow to USD 121.86 million by 2028 from USD 83.01 million in 2023, registering a CAGR of 7.98% from 2023 to 2028.
The CO2 absorbent is used during the inhalation anesthesia administration in patients. The device reduces the toxicity spread by CO2 compounds during the process. In addition, the process reduces waste generation. Furthermore, it allows rebreathing during the process. For the longest time, the absorbents used during the inhaled anesthesia process used calcium hydroxide combined with strong bases, and the formulation of the absorbent was later adjusted to produce the CO2 absorbents which are used in the process today.
During the covid-19 pandemic, there were many critical problems faced by various sectors of the world. The pandemic disrupted demand and supply chains to lockdown restrictions, and businesses lost a lot of revenue. The healthcare segment was the most affected due to the rising number of cases and patients and the lack of hospital beds, medical devices, and healthcare professionals to serve the patients. As a result, priority was shifted towards the COVID-19 patients, and the other surgeries and essential health check-ups which weren't urgent were postponed.
As more patients with COVID-19 were admitted, the demand for ventilators suddenly increased. However, the continuous use of ventilators to help patients breathe leads to a shortage of ventilators. In this crisis, researchers suggested using inhaled anesthesia with CO2 absorbent as mechanical ventilators to support the patients. As the anesthesia method also filters and circulates air, it became an effective method to help patients, which led to a push for the market.
Therefore, the pandemic proved advantageous for the global anesthesia CO2 absorbent market.
The global anesthesia CO2 absorbent market is majorly driven by the increasing geriatric population and the incidences of chronic diseases in these aged populations.
For instance, cardiac, respiratory, and gastrointestinal problems are high in people aged. All these chronic conditions may need surgeries leading to an increase in the demand for surgical equipment and, in turn, for anesthesia CO2 absorbents. For instance, according to WHO statistics, around 7.6% of the world's population suffers from respiratory disorders. Additionally, the outbreak of COVID-19, another respiratory condition, has spiked the market's growth rate. Furthermore, according to WHO reports, even after the pandemic has subsided, there are cases of middle east respiratory syndrome (MERS-COV) in Qatar, showing the after-effects of the pandemic. Additionally, the government's initiatives to build better healthcare systems and hospital infrastructures are leading to higher adoption of the anesthesia CO2 absorbent process. The regulatory norms involved with the use of anesthesia CO2 absorbent are stringent but inclusive, which makes it a factor for the growth of the market.
Increasing rates of surgeries to promote anesthesia CO2 absorbent market growth.
The rise in the number of surgical and ambulatory services supports the requirement, and an increase in the number of surgical procedures is further projected to favor the market's growth rate to climb further during the forecast period. In addition, the prevalence of neurological disorders such as diabetes, cardiac arrests, and respiratory disorders promotes the need for surgical procedures, thus promoting market growth. Furthermore, millions of people get surgeries worldwide every year, and the rise will boost the need for the market due to the demand for anesthetic assistance during surgeries. In the U.S. alone, there are around 310 million significant surgeries performed each year.
The high costs of premium anesthesia CO2 absorbents and the side effects associated with using the CO2 absorbents may lead to market restraint. Additionally, the consequences of prolonged exposure to soda lime (CO2) are anticipated to restrict the market's growth during the forecast period.
Market Size Available
2022 to 2028
2023 to 2028
By Product, Type, End-Use, Form & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This research report on the global anesthesia CO2 absorbent market has been segmented and sub-segmented based on product, type, end-use, form & region.
Global Anesthesia CO2 Absorbent Market - By Product:
Based on the product, the medisorb segment is expected to account for the largest share during the forecast period. This segment's dominance is due to the cost efficiency of the product. medisorb uses D-profile granules for improved CO2 absorption; it has more prolonged usage and is user-friendly. In addition, the development follows APSFs (anesthesia patient safety foundation) guidance on the safety regulations when performing inhaled anesthesia. Therefore, the product is safe and efficient, making it the dominant segment.
Global Anesthesia CO2 Absorbent Market - By Type:
The premium CO2 absorbent segment is forecasted to account for a significant market share in the coming future. Despite being costlier than the standard CO2 absorbent, the premium absorbent is picked over it due to the valuable properties of the product. The premium segment absorbent helps eliminate the risks of desiccation with the inhaled anesthesia process, making it a safer option for administration. In addition, its formulations do not contain sodium hydroxide or potassium hydroxide, making it a comparatively less toxic approach. Premium CO2 absorption can therefore be used for longer anesthesia processes.
Global Anesthesia CO2 Absorbent Market - By End-User:
Based on the end-user, the hospital segment is expected to hold the most significant market share during the forecast period due to the highly developed infrastructure and patient holding capacity, along with the assistance of talented physicians and consumers with high purchasing power. In addition, the investments in progressive insurance policies in healthcare settings and better resources also promote the segment's growth.
Global Anesthesia CO2 Absorbent Market - By Form:
The powdered form of CO2 absorbent is expected to have the most considerable share in the market due to the ease of use and less shifting compared to granules. In addition, the powder form can be recycled, decreasing the risk of harm to the skin and eyes when using absorbents. Furthermore, the demand was powder absorbent is on the rise because it does not dehydrate when bound to water. These are the reasons for the market's dominance.
Global Anesthesia CO2 Absorbent Market - By Region:
North America dominated the global anesthesia CO2 absorbent market in 2022 and is expected to continue its growth during the forecast period. Due to the region's highly developed healthcare system, high chronic illnesses, sizable elderly population, and the increasing number of surgical procedures performed on the geriatric population. In addition, it is estimated that by 2050, approximately 16 percent of the world's population will be 65 years of age or older, according to the United Nations 2019 study. Therefore, it is anticipated that an aging population would significantly contribute to the revenue growth of the anesthesia CO2 absorbent market in countries like the U.S. and Canada.
The market in Asia-Pacific is anticipated to grow at a robust CAGR throughout the forecast period due to the region's growing elderly population and the resulting rise in demand for surgeries. In addition, increased market spending and CO2-absorbent research and development are anticipated to impact market growth significantly.
The increase in hospital admissions fuels the need for surgery anesthesia medicines, assisting Asia-Pacific market revenue growth. Due to an increase in surgical cases in the region, Europe's anesthesia CO2 absorbent market is anticipated to have a healthy growth rate during the forecast period. Additionally, regulating bodies like the Centers for Disease Control and Prevention (CDC) and the Anesthesia Patient Safety Foundation have upheld regulations and security standards for CO2 absorbent to track and forecast patients' neurological conditions, which is anticipated to have a significant impact on the revenue growth of the Europe market throughout the forecast period.
TOP COMPANIES IN THIS MARKET:
Smiths Medical Inc., Armstrong Medical Ltd, Micropore Inc, Lowenstein Medical Ltd, Atrasorb, Dragerwerk AG, GE Healthcare, Allied Healthcare Products, Vyaire Medical Inc., Intersurgical Ltd., Molecular products group, and CareFusion are some of the noteworthy players in the global anesthesia CO2 Absorbent market.
The global anesthesia CO2 absorbent market size was worth USD 71.2 million in 2021.
The North American region led the market in 2021.
The APAC region is predicted to display the fastest CAGR in the global market during the forecast period.
Companies playing a key role in the global anesthesia CO2 absorbent market are Smiths Medical Inc., Armstrong Medical Ltd, Micropore Inc, Lowenstein Medical Ltd, Atrasorb, Dragerwerk AG, GE Healthcare, Allied Healthcare Products, Vyaire Medical Inc., Intersurgical Ltd., Molecular products group, and CareFusion.
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