Smoke Evacuation System Market Size, Share & Trends Analysis Report By Product, By Application (Laparoscopic Surgeries, Orthopedic, Medical Aesthetic Surgeries), By End-use, By Region, And Segment Forecasts, 2021 - 2028
New York, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smoke Evacuation System Market Size, Share & Trends Analysis Report By Product, By Application, By End-use, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06025378/?utm_source=GNW
Smoke Evacuation Systems Market Growth & Trends
The global smoke evacuation systems market size is expected to reach USD 285.5 million by 2028. The market is expected to expand at a CAGR of 7.4% from 2021 to 2028. Factors contributing to the growth of this market include an increase in medical tourism for cosmetic surgeries, electrosurgery procedures, and increased product availability.
Currently, elective and endoscopic procedures are delayed due to the outbreak of COVID-19 to reduce the risk of transmission to other patients with chronic conditions.According to the Society of American Gastrointestinal and Endoscopic Surgeons, it is recommended to use electrosurgery pencils with attached smoke evacuators instead of monopolar electrosurgical and advanced bipolar devices and ultrasonic dissectors.
Moreover, high-flow vacuum sources or filtration units are recommended during laparoscopic procedures. The market is thus anticipated to experience gradual growth post-COVID-19 revival.
The rising adoption of minimally invasive surgeries owing to their benefits such as shorter hospital stays, quick healing, and fewer surgical incisions, is also expected to boost the market growth during the forecast period, as high-flow vacuum sources are used in a majority of minimally invasive surgeries. This is further supported by increasing technological advancements by market players, the prevalence of chronic diseases that require surgical procedures, and the demand for better surgical equipment.
Major market players are focused on launching technologically upgraded products in the market to enhance their presence. For instance, in January 2020, Symmetry Surgical Inc. acquired the O.R. Company that manufactures, develops and markets, innovative & high-quality surgical devices.
Smoke Evacuation Systems Market Report Highlights
• The smoke evacuating system segment dominated the market in terms of revenue share in 2020 and is projected to witness a CAGR of over 7.8% from 2021 to 2028. Technological advancements by market players are expected to drive market growth
• North America dominated the market in terms of revenue share in 2020 due to the high number of aesthetic procedures in the region
• The industry participants are focusing on investing in acquisitions, collaborations, product launches, and partnerships to gain a competitive edge
• The hospitals’ category holds the majority of the revenue share of around 42.9% in 2020 owing to high usage of high-flow vacuum sources in hospitals
• In Asia Pacific, the market is anticipated to witness a CAGR of around 9.7% over the forecast period owing to the high investments in R&D and consistent efforts being taken by global market players for commercializing their products at lower prices
• In September 2020, Olympus collaborated with Alesi Surgical Limited for the distribution of the Ultravision surgical smoke control system in the U.S., hence expanding its geographical presence
Read the full report: https://www.reportlinker.com/p06025378/?utm_source=GNW
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