Anesthesia CO2 Absorbent Market Size, Share & Trends Analysis Report By Product (Soda Lime, Medisorb, Dragersorb, Amsorb, Litholyme), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global anesthesia CO2 absorbent market size was valued at USD 79.1 million in 2022 and is expected to grow at a CAGR of 5.1% over the forecast period. The market is expected to grow significantly due to the rising incidences of chronic illnesses and fatal accidents, augmenting the geriatric population and increasing the volume of surgeries. Increasing incidences of chronic conditions are expected to increase the demand for surgeries. With the rising volume of surgeries, required anesthesia is anticipated to rise, thereby propelling the market growth. Furthermore, guidelines and safety parameters decided by institutes such as the Anesthesia Patient Safety Foundation, the CEA, and the CDC are other vital impact-rendering drivers.

A huge geriatric population base is prone to suffer from diseases such as cardiac disorders, neurological conditions, respiratory diseases, and diabetes, ultimately demanding surgical intervention. This acts as a major driver for growth. Diabetes is becoming an increasingly prevalent health issue worldwide, impacting individuals, families, and entire countries. According to the IDF Diabetes Atlas (2021), approximately 10.5% of the adult population (20-79 years) currently has diabetes, with nearly half of them unaware of their condition. The projections for the future are concerning, as the number of adults living with diabetes is expected to rise significantly by 2045. It is estimated that 1 in 8 adults, totaling around 783 million people, will be affected by diabetes, representing a staggering increase of 46%. These figures highlight the urgent need for awareness, prevention, and effective management of diabetes to address its growing global burden.

Supportive government initiatives for healthcare are expected to impact the growth of anesthesia disposables positively and, thereby, the overall growth of the market. According to the 2020 WHO Report, a comprehensive analysis of global health spending trends from 2000 to 2018 offers valuable insights into health expenditure trajectory during the transition from the Millennium Development Goals (MDGs) to the Sustainable Development Goals (SDGs) era before the 2020 crisis. The report explains global spending on health experienced a consistent upward trend during this period, reaching an impressive USD 8.3 trillion, equivalent to 10% of the world's GDP. However, the data also revealed persistent challenges in low and lower-middle-income countries, where out-of-pocket spending remained high, accounting for over 40% of total health expenditure in 2018.

Product Insights

Based on product, the global anesthesia CO2 absorbent market is segmented into Soda lime, Medisorb, Dragersorb, Amsorb, Litholyme, and others. The medisorb segment held the largest market share of around 30% in 2022 owing to factors such as medisorb CO2 absorbents are essential for the safe administration of anesthesia. As the demand for anesthesia grows, the demand for medisorb CO2 absorbents is also expected to grow. For instance, in March 2023 SunMed, a big company that makes medical devices for anesthesia and respiratory care in North America, made an important deal with another company called Vyaire Medical. In this deal, SunMed will take over a part of Vyaire's business that makes and sells products for breathing and anesthesia. By joining forces, they are expected to become a strong team focusing on this area, making better and more innovative products for patients and doctors. This is anticipated to make it easier for healthcare professionals to get the medical items they need and help patients have better treatments.

In 2011, the Centers for Medicare and Medicaid Services (CMS) started a program encouraging doctors, hospitals, and medical centers to use electronic health records (EHRs) more effectively. The goal was to improve the sharing of health information between different healthcare providers. In 2018, the program was renamed to focus even more on making sure that health records can be easily shared between doctors and hospitals so that patients can have better access to their medical information. These incentives aim to motivate hospitals to adopt Medisorb CO2 absorbents, which can enhance patient safety by lowering the risk of infections.

The amsorb CO2 absorbents segment is anticipated to grow at the fastest CAGR of 6.1% during the forecast period. Amsorb CO2 absorbents have a number of advantages over other CO2 absorbents, including a lower risk of toxicity and a longer lifespan. This improved safety profile is making absorbing CO2 absorbents more attractive to hospitals and other healthcare providers. For instance, in 2022, Amsorb plus CO2 absorbent was launched, which had a HEPA filter. The HEPA filter helps to remove particulate matter from the exhaled gas, which can help to improve patient comfort and reduce the risk of infection.

Regional Insights

North America held the largest market share of around 35% in 2022 and is expected to continue its dominance during the forecast period. Increasing surgical volume and supportive initiatives by government and healthcare agencies to expand medical tourism and prevent U.S. citizens from traveling to other countries are expected to drive growth. According to the Society of Thoracic Surgeons (STS), an estimated 1.3 million cardiovascular surgeries were performed in North America in 2022. Of these, 730,000 were coronary artery bypass grafting (CABG) procedures, 330,000 were valve procedures, and 240,000 were heart transplantations. The number of cardiovascular surgeries performed in North America has been increasing steadily over the past few decades due to a number of factors, including the aging population, the rising prevalence of risk factors for cardiovascular disease, and advances in surgical techniques. The risk of death from cardiovascular surgery varies depending on the type of procedure performed.

Latin America is expected to be the fastest-growing regional market witnessing a lucrative CAGR of 6.4% during the forecast period owing to the factors such as the number of surgeries being performed in Latin America is increasing due to a number of factors, including the aging population, the rising prevalence of chronic diseases, and the increasing availability of healthcare services. This is leading to an increased demand for anesthesia CO2 absorbents, which are essential for the safe administration of anesthesia.

According to Economic Commission for Latin America (ECLA), population aging is a significant demographic trend impacting Latin America and the Caribbean. As of 2022, the region is home to 88.6 million people aged 60 years and above, making up 13.4% of the total population. This proportion is projected to rise to 16.5% by 2030. The aging process is rapidly advancing, and by 2050, older persons are expected to make up 25.1% of the total population, with approximately 193 million people falling into this age group. This represents a substantial increase of 2.1 times more older persons compared to the figures observed in 2022. The region faces the challenge of adapting to this demographic shift and addressing the needs and well-being of its aging population in the years to come.

Key Companies & Market Share Insights

Greater opportunities in developed and developing countries encourage companies to undertake various strategic initiatives, such as mergers, acquisitions & collaborations, to develop novel, innovative solutions and expand operations to increase their global presence. For instance, in 2021, Drägerwerk AG & Co. KGaA launched their anesthesia CO2 absorbent, the Drägersorb 800 HEPA, in response to the growing demand for safer and more effective CO2 absorbents in the anesthesia market. Drägersorb 800 HEPA is a calcium hydroxide-based absorbent that is non-toxic and non-irritating to the lungs. It is also effective at absorbing CO2, even at low gas flows. Drägersorb 800 HEPA has a HEPA filter that helps to remove particulate matter from the exhaled gas, which can help to improve patient comfort and reduce the risk of infection. Drägersorb 800 HEPA is CE-marked and FDA-approved and used in hospitals and other healthcare settings worldwide. The following are some of the major participants in the global anesthesia CO2 absorbent market:

• GE HealthCare

• Drägerwerk AG & Co. KGaA

• Armstrong Medical Ltd

• Smiths Group plc

• BD (Becton Dickinson and Company)

Anesthesia CO2 Absorbent Market Report Scope

Global Anesthesia CO2 Absorbent Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global anesthesia CO2 absorbent market on the basis of product and region:

• Product Outlook (Revenue in USD Million, 2018 - 2030)

  • Soda lime

  • Medisorb

  • Dragersorb

  • Amsorb

  • Litholyme

  • Others

• Regional Outlook (Revenue in USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait