April 20, 2024

Anesthesia Gas Scavenging System Market Impact: Economic Implications

Anesthesia Gas Scavenging System Market

Anesthesia gas scavenging system is a device used to collect waste anesthetic gases and vapors from patient breathing circuits during surgery. It helps to purify the air by scrubbing and filtering exhaled gases to protect medical staff and other patients from exposure. The system consists of a suction source, tubing, connectors, filters and canisters. It plays a vital role in reusing anesthetic gases during inhalation anesthesia and maintaining a safe environment inside operation theatres. The growing volume of surgeries across the world due to the rising prevalence of chronic diseases and road accidents is driving the demand for anesthesia gas scavenging systems.

The Global Anesthesia Gas Scavenging System Market is estimated to be valued at US$ 8484.9 Mn in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030.

Key Takeaways
Key players operating in the Anesthesia Gas Scavenging System are INVISTA, Asahi Kasei Corporation, Hyosung Corporation, Zhejiang Huafon Spandex Co. Ltd., Yantai Tayho Advanced Materials Co. Ltd., Indorama Industries Ltd, TK Chemical Corp., Taekwang Industrial Co., Ltd, Jiangsu Shaungliang Spandex Co., Ltd., and Xiamen Lilong Spandex Co. Ltd.
The growing investment by major players in developing advanced anesthesia equipment is opening new opportunities in the market.

The increasing penetration of healthcare facilities across emerging nations and favorable government initiatives are fueling the global expansion of the anesthesia gas scavenging system market.

Market drivers
The rising number of surgical procedures worldwide due to the growing incidence of chronic diseases and road accidents is a major driver for the anesthesia gas scavenging system market. As the surgical volume increases, the demand for efficient waste gas disposal systems is also rising. Other major drivers include the stringent regulations regarding workplace safety and the growing awareness about occupational hazards of anesthetic gases.

PEST Analysis

Political: Healthcare reforms worldwide coupled with increasing healthcare budgets are positively impacting the market as they help increase funding for better healthcare infrastructure and safety standards. Stringent regulations regarding waste gas disposal due to rising pollution levels are driving demand.

Economic: Rising disposable incomes in developing nations have increased healthcare spending. Anesthesia errors and pollution concerns have increased demand for effective scavenging systems to reduce financial and environmental costs.

Social: Increasing awareness about healthcare risks and a focus on patient safety are propelling demand. Pollution concerns are also making governments and hospitals prioritize better waste disposal systems.

Technological: Advances like integrated vacuum units, activated charcoal filters and alarms are helping optimize gas scavenging. Sensor technology and touchscreen interfaces provide accurate real-time monitoring of anesthetic gas levels to improve patient outcomes. Connectivity features enable remote monitoring.

Geographical regions where market in terms of value is concentrated:

North America accounts for a significant share due to stringent regulations, growing healthcare costs, and the presence of major players. Increased accessibility to advanced healthcare infrastructure and higher spending power have boosted the regional market.

The Asia Pacific region is poised to be the fastest growing market owing to rising medical tourism, growing geriatric population, increasing healthcare investments and expanding medical facility count especially in China and India. Burgeoning middle classes have escalated demand.

The fastest growing region for the given market is the Asia Pacific region owing to factors like increasing investments in healthcare infrastructure, rising medical tourism, growing health awareness, expanding medical facility count and burgeoning middle classes driving up spending power and demand. Countries like China and India with their large populations and rapid economic development are primary drivers of the regional market.

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