Smoke Evacuation System Market Size Expected to Reach US$195.3 million with CAGR of 9.8% by 2027 – IndustryARC
Technological Advancements in Identifying Harmful Chemicals in Surgeries is Propelling the Smoke Evacuation System Market Growth.
HYDERABAD, TELANGANA, INDIA, September 7, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that the smoke evacuation systems market size is estimated to reach $195.3 million by 2027. Furthermore, it is poised to grow at a CAGR of 9.8% over the forecast period of 2022-2027. The rise in the adoption of charcoal filters in laparoscopic surgery, growing awareness about the benefits of smoke evacuation systems, and the increasing research and development activities to develop advanced smoke evacuation systems are contributing to the growth of the Smoke Evacuation System Market during the forecast period 2022-2027. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key Takeaways:
This IndustryARC report on the smoke evacuation systems market highlights the following areas –
1. Geographically, North America held a dominant market share in the year 2021, owing to the presence of key players in the region. In addition, the companies are developing innovative smoke evacuation systems for various applications. A robust economy and a growing trend in healthcare facilities are driving demand for Smoke Evacuation System Market in this region.
2. The increasing adoption of charcoal filters in laparoscopic surgery is driving the growth of the Smoke Evacuation System Market. However, the growing pricing pressure is expected to hinder the growth of the target market to a certain extent.
3. A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Smoke Evacuation System Market Report.
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Segmental Analysis:
1. Smoke Evacuation System Market based on type can be further segmented into Smoke Evacuation Pencils, Smoke Evacuation Tubes, Smoke Evacuation Filters, and Others. However, the Smoke Evacuation Filters segment is estimated to be the fastest-growing, with a CAGR of 10.7% over the forecast period of 2022-2027. Smoke Evacuation Filters are designed to provide a clear, smoke-free field of view during often confined laparoscopic procedures.
2. Smoke Evacuation System Market based on end user can be further segmented into Hospitals, Cosmetic Surgical Centers, Ambulatory Surgical Centers, and Others. The rise in the adoption of smoke evacuation systems for laparoscopic surgery and the growing demand for Charcoal filters in hospitals are the major factors driving the growth of the Smoke Evacuation System Market. However, Ambulatory Surgical Centers is estimated to be the fastest-growing, with a CAGR of 10.9% over the forecast period of 2022-2027.
3. North America held a dominant market share of 34% in the year 2021. The growing adoption of Smoke Evacuation Systems in hospitals in the United States and the presence of key players in the region are contributing to the growth of the Smoke Evacuation System Market.
Competitive Landscape:
The top 5 players in the smoke evacuation systems industry are –
1. Olympus Corporation
2. Symmetry Surgical
3. CONMED Corporation
4. Stryker Corporation
5. Erbe Elektromedizin GmbH
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