Global Smoke Evacuation Systems Market Size, Share & Growth is Projected to Grow at a CAGR of 6.5% in the Forecast Period | BlueWeave
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global smoke evacuation systems market was worth USD 114.3 million in the year 2020. The data generated by the study revealed the market is estimated to grow at a CAGR of 6.5%, earning revenue of around USD 176.5 million by the end of 2027. Smoke evacuation systems are in high demand due to the increase in surgical procedures and the increasing use of heat-generating medical devices and equipment. Furthermore, severe side effects of surgical smoke on the hospital staff and the recommendations of its use by various governmental and professional organizations, such as the Occupational Safety and Health Administration (OSHA), are also driving the growth of the global smoke evacuation systems.
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Unexploited Emerging Economies Posses Great Potential for The Global Smoke Evacuation Systems Market
The developed nations, such as the US, the UK, Germany, Spain, etc. show popular trends in the adoption of smoke evacuation systems. However, the growth is still limited in emerging economies such as India, Japan, China, etc. But this also means such regions are still unexplored and hold great growth potential in the upcoming years. Countries like South Korea and China are becoming hubs for cosmetic and dermatologic surgeries, which means the local industry, as well as global players, are exposed to enormous opportunities to become the leading smoke evacuation systems manufacturer.
Recommendation by Government and Professional Organizations
Many government and professional organizations are making recommendations for the efficient use of medical equipment and devices while also ensuring the safety of healthcare professionals and hospital staff. Strong odor or smoke plumes can cause serious health conditions. Therefore, by setting standards, these organizations are tackling the management of surgical smoke and the use of lasers. For instance, Occupational Safety and Health Organization (OSHA) recommends the adoption of smoke evacuation systems for ensuring maximum safety at the surgical sites.
Global Smoke Evacuation Systems Market - By End-User
Based on end-users, the global smoke evacuation systems market is segmented into hospitals, ambulatory surgery centers, cosmetic surgery centers, dental clinics, and veterinary healthcare providers. Among these, the hospital segment accounts for the largest market share because of the availability of skilled surgeons in such facilities for performing electros urgery and various cosmetic and orthopedic surgeries. According to Statista, the US has the greatest number of plastic surgeons, followed by Brazil and China which fulfill the demand for electro surgery at various geographical locations.
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Global Smoke Evacuation Systems Market - Regional Insights
Geographically, the global smoke evacuation systems market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America dominates the market, followed by Europe. However, the Asia-Pacific region is projected to witness significant growth during the forecast period. Rapid healthcare development and booming medical tourism in emerging economies are the major factors influencing the growth of the market in this region. Further more, the demand for smoke evacuation systems in the Asia Pacific region will also be driven by strict regulations and the awareness of maintaining the safety of healthcare professionals.
Impact of COVID-19 on Global Smoke Evacuation Systems Market
Initially, the COVID-19 situation caused serious consequences for the global smoke evacuation systems market. This is due to the postponement of several types of surgeries, which led to the sharp fall in the adoption of smoke evacuation systems in the operation theaters. Furthermore, the market was also negatively affected by the nationwide lockdowns, which halted both the production and distribution processes of the systems, making it difficult to meet current demand. However, the market is projected to gain significant traction in the post-COVID-19 period as production, supply chains, and demand for smoke evacuation systems will all steadily increase as the COVID-19 situation improves.
In the aftermath of the COVID-19 pandemic, major concerns have arisen regarding Aerosol-generating Procedures, which include laparoscopy. Researchers have observed that the SARS-CoV-2 virus can survive in aerosols for three hours. Hence, effective measures are being taken to eliminate smoke and aerosols from the vicinity of infected patients during Aerosol-generating Procedures to minimize transmission risk. This has increased the need for the smoke evacuation system, thereby driving the market growth
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The leading market players in the global smoke evacuation systems market are KLS Martin Group, Bowa-Electronic Gmbh & Co. Kg, Medtronic Plc., Zimmer Biomet Holdings, Inc., Surgiform Technology, Conmed Corporation, The Cooper Companies Inc., Meyer-Haake Gmbh, Utah Medical Products, Inc., Ecolab Inc., Pall Corporation, Erbe Elektromedizin Gmbh, Olympus Corporation, Karl Storz Endoskope, Stryker Corporation, Deroyal, Johnson & Johnson, Symmetry Surgical Inc., I.C. Medical, Inc., and other prominent players.
Major players in the industry use strategies such as partnerships, mergers &acquisitions, collaborations, product approvals, and launches to expand their brand visibility and strengthen their positions in the market. Some giant market players, however, account for a sizeable share of the market, making it dense and consolidated.
Don’t miss the business opportunity of the global smoke evacuation systems market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global smoke evacuation systems market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global smoke evacuation systems market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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