Sevoflurane Market Poised to Grow at a Robust Pace

Posted 2024-01-29 13:45:34

The global sevoflurane market is estimated to be valued at US$ 445.24 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis

Strength: Sevoflurane is highly effective as an inhalation anesthetic for general anesthesia induction and maintenance. Its pharmacokinetic properties allow for rapid induction and emergence from anesthesia. It does not cause pain on injection like other intravenous anesthetics.

Weakness: Sevoflurane is highly fluorinated and has a high global warming potential. Exposure to sevoflurane may cause liver damage in humans. Occupational exposure to sevoflurane poses risks to healthcare workers and needs stringent precautions.

Opportunity: Rising geriatric population and increasing number of surgeries create demand for effective and less invasive anesthetic drugs like sevoflurane. Its versatility allows use in children, adults and geriatric patients undergoing different surgical procedures.

Threats: Stringent regulations regarding healthcare facilities releasing waste anesthetic gases into the environment pose operational challenges. Newer and safer anesthetic drugs can potentially erode the market share of sevoflurane.

Key Takeaways

The Global Sevoflurane Market Demand is expected to witness high growth during the forecast period of 2024 to 2031. The market size was valued at US$ 445.24 Mn in 2024 and is anticipated to reach over US$ 657 Mn by 2031, expanding at a CAGR of 5.6%.

Regional analysis: North America dominated the global market in 2024 and is predicted to lead over the forecast period. This is attributed to rising awareness about enhanced recovery pathways in surgery and high usage of advanced anesthesia systems in the region. Asia Pacific is likely to be the fastest growing market between 2024-2031 owing to increasing medical tourism, healthcare infrastructure development and rising discretionary spending.

Key players: Key players operating in the sevoflurane market are Kimberly-Clark Corporation, Georgia Pacific LLC (Koch industries), SCA (Svenska Cellulosa Aktiebolaget), Procter & Gamble, Clearwater Paper Corporation, and Kruger Products, among others. These players are focusing on new product launches and geographical expansion to strengthen their market position.