Sevoflurane Market to Surpass US$ 522.8 Million by 2030 - Coherent Market Insights

Global Sevoflurane Market, by Application (Induction and Maintenance), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 370.2 Million in 2022, and is expected to exhibit a CAGR of 4.4%  during the forecast period (2022-2030).

Increasing number of research and development activities is expected to drive the growth of the global sevoflurane market during the forecast period. For instance, in August 2021, Shanghai First Maternity and Infant Hospital, China, announced the launch of a clinical trial to examine the efficacy and safety of sub anesthetic sevoflurane for the treatment-resistant depression. The trial will be prospective, randomized, double-blind, and placebo-controlled.

Market players are focused on expanding its business in surgical centers, which is expected to drive the growth of the global sevoflurane market during the forecast period. For instance, on February 07, 2022, Pristyn Care, a health-tech startup specializing in secondary-care procedures, announced plans to expand to 800 surgical centers by end of 2022. Pristyn Care surgical centers are currently open in multiple cities across India as well as 35 tier 2 and 3 cities across India.

Global Sevoflurane Market- Impact of Coronavirus (COVID – 19) Pandemic

The COVID-19 pandemic has affected several markets across the globe. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets.

However, the impact of the coronavirus (COVID-19) pandemic is expected be neutral in the growth of the global sevoflurane market during the forecast period, owing to research and development activities related to sevoflurane in COVID-19 patients. For instance, in June 2020, Sunnybrook Health Sciences Centre, an academic health science center located in Toronto, Ontario, Canada, initiated a Phase 3 clinical study of Sevoflurane inhalant product and Isoflurane Inhalant Product for the treatment of COVID-19 and Hypoxic Respiratory Failure (HRF). The aim of the study is to sedate critically ill COVID-19 patients in ICU (Intensive Care Unit) and to determine effects on ventilator parameters and survival.

Browse 33 Market Data Tables and 25 Figures spread through 150 Pages and in-depth TOC on Global Sevoflurane Market, by Application (Induction and Maintenance), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),

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Key Takeaways of the Global Sevoflurane Market:

• The global sevoflurane market is expected to exhibit a CAGR of 4.4% over the forecast period (2022-2030). North America is expected to account for major market share over the forecast period (2022-2030), owing to launches of inhaling devices or vaporizers. For instance, in November 2019, Gofire, a healthcare technology company based in the U.S.  develops hardware and software solutions for dose delivery, health tracking, and medication management via connected devices, announced the launch of its long-awaited metered-dose Inhaler after nearly five years of research and development, refinement, and testing.
• Some of the 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.