Sevoflurane Market

Global Sevoflurane Market Size (2023 to 2028)

The worldwide Sevoflurane market was valued at USD 1370.6 million in 2023 and is anticipated to reach nearly USD 1402.3 million by 2028, with a rise in CAGR of 0.37% from 2023 to 2028.

Market Drivers

The most relevant factor propelling the growth of the market is the increasing number of surgeries that drive the market growth during the projected period. Approximately 320 million surgeries are performed annually, the rising number of aesthetic surgeries requiring anesthesia, the large growth in the surgical procedures for the face, breast, and body, as more people nowadays are health and beauty conscious thus the rising number of surgeries demand more sevoflurane compound hence, this factor propelling the growth of the market during the projected period.

The second major driver driving the growth of the market is the rising prevalence of chronic disorders. As there are rapidly rising numbers of chronic disorders like cancer, and respiratory diseases, this factor is expected to drive the growth of the global sevoflurane market over the projected period. According to a recent report published in 2022, an estimated 20.5 million new cancer cases were diagnosed globally, also 3.2 million new cases of female breast cancer and also followed by lung cancer, prostate cancer, and stomach cancer globally. The rising prevalence of chronic disorder needs proper medication, treatment, and therapies, thus there is a large demand for the sevoflurane compound to perform this surgery, thus this factor favoring the market growth during the forecast period.

The third factor fueling the growth of the market is emerging innovation in anesthesia monitoring and delivery system fuels the growth of the sevoflurane market. The innovation in the improved anesthesia machinery and monitoring system help to provide accurate, real-time data on the patient’s vital signs, the utilization of sevoflurane with these modern devices helps to enable more precise control of anesthesia levels and helps to improve the operating room patient management thus this factor help in boosting the growth of the market in the upcoming years.

The other factor favoring the market growth are technological advancement, rapid innovation, the rising geriatric population, rising incidences and prevalence of chronic conditions, also the rising number of surgeries propels the market growth during the forecast period. 

Market Restraints

Sevoflurane is majorly used while performing surgeries, thus there is an emerging demand for sevoflurane but the side effects associated with sevoflurane majorly hampers the growth of the worldwide sevoflurane market during the forecast period. The side effect of sevoflurane includes blurred vision, pain, tightness, and discomfort in the chest, dizziness, unusual tiredness or weakness also many patients experience adverse effect including respiratory depression, allergic reaction, and hepatotoxicity, thus many healthcare facilities limits the use of sevoflurane compound. Another major factor restraining the growth of the market is the availability of alternate anesthetic compounds limits the growth of the sevoflurane market. Several anesthetics compounds available in the market such as desflurane and isoflurane, offer similar benefits and also these compounds are more cost-effective, safe, and efficient. Thus the presence of alternative anesthetic compounds hampers the growth of the market. The side effects, presence of the alternative anesthetic compound, and cost associated with sevoflurane this all factor restricts the growth of the global sevoflurane market.

Impact of Covid-19 on the Sevoflurane Market:

The pandemic crisis has steady impact on the worldwide sevoflurane market. Sevoflurane was majorly used in surgical procedures including inhalation anesthetic, as there was a large strain on the healthcare sector due to the widespread of novel coronavirus, thus there were elective drops in the non-urgent treatment and the surgical procedures. The non-essential surgical procedures have been delayed or canceled to reduce the risk of widespread virus transmission, as a result, the demand for sevoflurane majorly reduced due to the declining number of surgical procedures, also due to strict restriction barrier contributes to the disruption of global supply chain and logistic which result to delays in the production and distribution of sevoflurane. These anesthetic medicine majorly used for patients ventilated by virus infection, as it was more practicable and cost-effective, thus the pandemic crisis have a steady impact on the worldwide sevoflurane market.

Report coverage

This research report on global sevoflurane market has been segmented and sub-segmented based on the following categories.

Market Segmentation:

Sevoflurane Market- Based on Application

• Induction
• Maintenance

Based on Application, the induction segment is expected to dominate the global sevoflurane market during the projected period. With the immediate onset of action of induction and favorable pharmacokinetics properties of sevoflurane for the smooth induction of anesthesia, rising surgical volumes, and the growing need for efficient and safe induction procedures, the emerging demand for outpatient and minimally invasive surgeries which require fast and reliable anesthesia majorly drives the growth of the induction segment in the global sevoflurane market.

The maintenance segment is also anticipated to grow at the fastest CAGR in the upcoming years. Long-term stability and controllability of anesthesia provided by sevoflurane during the maintenance phase, the number of surgical procedures requires an extended period of anesthesia maintenance, this factor help in boosting the growth of these segment in the worldwide sevoflurane market during the projected period.

Sevoflurane Market- Based on Distribution Channel 

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Based on the distribution channel, the retail pharmacies segment is anticipated to grow at a healthy CAGR during the forecast period. The emerging trend of outpatient surgeries and increasing demand for convenient access to anesthesia products, also the increasing preference for ambulatory surgical procedures and convenient availability of sevoflurane at retail pharmacies fueling the growth of this segment and rising the market growth during the projected period. 

The online pharmacies segment is also anticipated to dominate the market during the forecast period. This segment accounted for the largest market share around 32.7% in 2022 and is expected to grow at the fastest CAGR during the projected period. The emerging digital technology and rapid use of digital commerce platforms sustained the rapid growth of online pharmacies, thus this segment is anticipated to dominate the market during the projected period.

Sevoflurane Market- Based on Region

• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East and Africa

The North American region is expected to hold the dominant position in the worldwide sevoflurane market. Sevoflurane is commonly used for volatile anesthetic surgical procedures, the rising number of surgeries in this region has driven the market growth, also the growing aging population and rising healthcare access contribute to the demand for sevoflurane, also the technological advancement, advancement in healthcare facilities, rising prevalence of chronic condition this all factor majorly contributing to the growth of the sevoflurane market in this region.

Asia Pacific is the second largest region witnessed to grow at the fastest CAGR during the forecast period. The increasing geriatric and aging population and the rising number of surgeries performed in this region boost the growth of the market. Annually a large number of surgeries are performed in this region including cataract surgery, fracture, and hernia surgery, thus this factor boosts the growth of the market in this region.

Europe is the third largest region expected to dominate the market at the longest CAGR during the forecast period. The UK is estimated to hold the largest market share in the global sevoflurane market. The major driver such as growing emphasis on patient safety and advancement in anesthesia technique, a rising geriatric population in this region requiring surgical intervention, growing number of initiatives taken by the government of European countries fueling the growth of the market in this region.

Latin- America is another region that witnesses to grow at a healthy CAGR during the forecast period. Factors such as growing population and aging demographics, rising healthcare expenditure, advancement in healthcare, rising surgical procedures, growing government initiatives, and rising awareness of anesthesia safety contribute to the growth of the market in this region.

The Middle East and Africa region is anticipated to grow at a significant CAGR and is expected to earn more market revenue in the global sevoflurane market.

Key Market Players:

The worldwide key player dominating the global Sevoflurane market are Abbott Laboratories, Baxter, Piramal Pharma Solutions, Manus Aktteva Biopharma LLP, Maruishi Pharmaceutical Co.Ltd., Lunan Pharmaceutical Group, Abbvie, Wellona Pharma, Rewine Pharmaceutical, and Troikaa Pharmaceuticals Limited.

Recent Development in the Market:

In January 2022, Dechra acquired Isoflurane and sevoflurane inhalant anesthetic products from Halocarbon Life Sciences.

In April 2022, The end-tidal (ET) Control software from GE Healthcare, which is used to administer general anesthesia on the Aisys CS2 Anesthesia Delivery System (FDA), received pre-market clearance (PMA) from the U.S. Food and Drug Administration. Only GE Healthcare is licensed to provide general anesthesia with end-tidal concentration control in the US.