Sevoflurane is an inhalational anesthetic agent that has widespread applications in general anesthesia during surgical procedures. It provides rapid onset and offset of anesthesia with minimal irritation to the respiratory tract. Sevoflurane is highly versatile and has replaced desflurane as the primary inhalational agent for induction and maintenance of anesthesia in adults and pediatric patients undergoing various surgical and diagnostic procedures.

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

Market Opportunity:

The increasing number of ambulatory surgery centers (ASCs) worldwide present a lucrative growth opportunity for the sevoflurane market. ASCs are medical facilities focused on providing same-day surgical care, including diagnostic and preventive procedures. They help reduce medical costs and wait times for patients as compared to inpatient hospital stays. With the trend of healthcare moving from inpatient to outpatient settings, the number of surgeries being performed in ASCs has grown significantly in recent years. As sevoflurane allows for rapid induction and recovery from anesthesia, it is increasingly being used for short surgical procedures in ASCs. The rise in ASCs is expected to drive the demand for sevoflurane, especially in developing regions with limited access to hospitals. Focus on expanding ASC infrastructure globally will further promote the adoption of sevoflurane during the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as Sevoflurane market is consolidated but entry barriers are relatively low due to lower capital requirements. However, established market players have strong brand recognition and distribution networks.

Bargaining power of buyers: The bargaining power of buyers is moderate as Sevoflurane has few substitutes and buyers have some influence over prices due to availability of generic drugs.

Bargaining power of suppliers: The bargaining power of suppliers is low as raw material suppliers for Sevoflurane are fragmented.

Threat of new substitutes: The threat of substitutes is low as Sevoflurane faces limited threat from other anesthetic agents due to its safety profile and cost effectiveness.

Competitive rivalry: The competitive rivalry is high among the major players due to their penetration across regions

SWOT Analysis

Strength: Sevoflurane has a wide safety margin. It is nonflammable and nonexplosive nature makes it safer to handle and store.

Weakness: Higher production cost and regulatory concerns regarding adverse respiratory effects.

Opportunity: Increasing number of surgical procedures and rising demand in emerging markets. Expanding applications in pediatric and ambulatory surgeries.

Threats: Stringent regulations and product recalls. Patent expiration of branded drugs resulting in higher price erosion.

Key Takeaways

The Global Sevoflurane Market Size is estimated to be valued at US$ 445.24 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.

Regional analysis indicates that North America dominated the market in 2024 with market share of over 35% owing to significant surgical volumes and growing adoption of innovative anesthetic drugs. Europe was the second largest market holding around 30% share. The Asia Pacific region is expected to be the fastest growing region during the forecast period propelled by rising healthcare expenditure, increasing surgical rate and growing medical tourism.

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, Wausau Paper Corp., and Kruger Products, among others. The key players are mainly focused on capacity expansion plans and new product development strategies to strengthen their market position. For instance, in 2023, P&G launched extra soft Charmin toilet paper with plant-based fibres.

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