Sevoflurane is a type of anesthetic that belongs to the general anesthetics class of drugs. Before and during surgery, sevoflurane is used to induce general anesthesia (lack of consciousness). Sevoflurane is to be administered via inhalation. Although, sevoflurane can be used solely, it is frequently combined with other anesthetics. In some patients, this aids in the production of more effective anesthetic.
During surgery, sevoflurane also helps to keep the patient's blood pressure and pulse rate stable. Sevoflurane can also be used to help manage discomfort following surgery.
Global Sevoflurane Market - Impact of the Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 521 million cases and 6.27 million deaths due to coronavirus disease (COVID-19) were reported till May 20, 2022, across the globe.
Impact of COVID-19 on Demand and Supply of Sevoflurane
The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Many countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.
However, there was no strong impact of COVID-19 on sevoflurane market as several inhalation anesthetic agents were used to sedate severely ill COVID-19 patients who required endotracheal intubation and mechanical ventilation. For instance, according to an article published in Lancet, April 2020, in both low- and high-income countries, the use of inhalational anesthetic medicines such as sevoflurane and isoflurane for ventilated COVID-19 patients is both practicable and cost-effective. These medications allow for precise and rapid management of sedation levels, and drug administration does not necessitate the use of electronic infusion pumps, which are in short supply.
The global sevoflurane market is estimated to be valued at US$ 370.2 Mn in 2022, and is expected to exhibit a CAGR of 4.4 % over the forecast period (2022-2030).
Figure 1: Global Sevoflurane Market Share (%) Analysis, By Application, 2022
The increasing number of surgeries is the major factor that is expected to drive the growth of global sevoflurane market over the forecast period.
The emerging number of surgeries is expected to drive the growth of the global sevoflurane market. For instance, according to European Statistical System, 2021, per 100,000 inhabitants, 1094.3 cataract surgeries, 259.6 transluminal coronay angioplasty, 232.5 cholecystectomay, 219.5 inguinal hernia repair surgeries were performed in Belgium in 2018.
Prevalence of Chronic Disorders
Increasing number of chronic disorders like cancer, respiratory diseases, etc. is expected to aid in the growth of the global sevoflurane market over the forecast period. For instance, according to GLOBOCAN 2020, an estimated 19.3 million new cancer cases (18.1 million excluding non-melanoma skin cancer) were diagnosed worldwide, with around 10.0 million cancer deaths (9.9 million excluding non-melanoma skin cancer) in 2020. With an anticipated 2.3 million new cases 11.7% were of female breast cancer followed by lung cancer (11.4 %), colorectal cancer (10.0%), prostate cancer (7.3 %), and stomach cancer (5.6 %) globally.
|Base Year:||2019||Market Size in 2022:||US$ 370.2 Mn|
|Historical Data for:||2016 to 2019||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||4.4%||2030 Value Projection:||US$ 522.8 Mn|
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
|Restraints & Challenges:||
Global Sevoflurane Market – Restraint
Side effects associated with sevoflurane are expected to hamper the growth of global sevoflurane market over forecast period. Side effects include-
Global Sevoflurane Market – Regional Analysis
On the basis of region, the global sevoflurane market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global sevoflurane market over the forecast period, owing to increasing standards of surgical care in the U.S. For instance, in July 2019, at the ACS Quality and Safety Conference, the American College of Surgeons (ACS) announced the introduction of its new Geriatric Surgery Verification (GSV) Program. This new surgical quality improvement initiative incorporates 30 new surgical criteria aimed at systematically improving surgical treatment and outcomes in the elderly.
Moreover, due to increasing number of surgeries, Asia Pacific is expected to witness a significant growth in the global sevoflurane market over the forecast period. For instance, according to the World Journal of Surgery, 2021, annually, 3646 procedures were performed to address the surgical needs of the Indian population, compared to 5000 surgeries per 100,000 people globally. Caesarean section, cataract surgery, fracture and hernia surgeries were the most common surgical procedures.
Figure 2: Global Sevoflurane Market Value (US$ Mn), by Region, 2022
Global Sevoflurane Market – Competitive Landscape
Major players operating in the global sevoflurane market include 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.
Sevoflurane is a sweet-smelling, nonflammable, highly fluorinated methyl isopropyl ether that is used as an inhalational anesthetic for general anesthesia induction and maintenance. It is the fastest-acting volatile anesthetic after desflurane.
Market players are focused on launching new technology to help delivery of anesthesia through inhalers, this could contribute to the growth of the global sevoflurane market over the forecast period. For instance, in April 2022, GE Healthcare, a leading global medical technology company, announced that its end-tidal (Et) Control software for general anesthesia delivery on its Aisys CS2 Anesthesia Delivery System has received pre-market approval (PMA) from the U.S. Food and Drug Administration (FDA). In the U.S., GE Healthcare is the only manufacturer approved to provide general anesthesia with end-tidal concentration control.
Increasing number of aesthetic surgeries requiring anesthesia, is expected to drive the growth of global sevoflurane market. For instance, in April 2022, The Aesthetic Society, world's leading association dedicated solely to facial and body aesthetic plastic surgery and cosmetic medicine issued its annual Aesthetic Plastic Surgery Statistics, which revealed that aesthetic plastic surgery increased in 2021 in U.S. owing to data acquired using the Society's new, more accurate digital technology. The data shows a large growth in procedures for the face, breasts, and body. Abdominoplasty, buttock augmentation, and liposuction have all seen a 63% surge in popularity since 2020 in U.S. Breast augmentation, augmentation/breast lift, and breast lift/reduction treatments all increased by 48%.
Increasing launches of technology to recycle inhaled anesthetics is expected to fuel the growth over forecast period. For instance, in July 2020, Baxter International Inc., a global leader in the production and delivery of sterile medications, announced a formal agreement with ZeoSys Medical, a medical technology company, to commercialize technology to capture and recycle anesthetic gases. Baxter will have worldwide distribution rights and an exclusive license to commercialize the technology outside of Europe, as well as an exclusive option to acquire ZeoSys Medical, under the terms of the agreement.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.