LOS ANGELES, 24 March 2021 (GLOBE NEWSWIRE) – The Global Smoke Hide System Market it is expected to grow at a CAGR of around 7.8% in the projected period 2020 to 2027 and reach around US $ 274.1 Mn by 2027.
The growing number of surgeries and an increase in health care consumption are the main reasons that are expected to drive the growth of the global smoke removal system market.
North America is expected to account for a large share of revenue in the global smoke evacuation system market due to more patients suffering from breast diseases and an increase in the number of treatment centers to treat the disease. 17.2 million hospital visits (AS visits or inpatient visits) in the United States involved at least one surgery in 2014. Just over half of these visits occurred (57.8 percent ) in a hospital-owned AS setting, and the remaining visits (42.2 per cent occurred) in a hospitalized patient setting. These visits included nearly 22 million total surgeries, and more than half of these (52.7 percent) were in outpatient settings. The average number of surgeries performed per round was slightly higher in hospitalized patients than in outpatient settings.
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Access to advanced healthcare infrastructure in the country and demand for such minimally invasive surgeries and factors are expected to influence the growth of the smoke evacuation system market. Surgical smoke evacuation systems are full-flow vacuum sources used for capture, the smoke aerosols and gases created when lasers and electrosurgical units (ESUs) are used at the surgical site . High investment by key players for the development of technologically advanced products that help surgeons perform better surgery. In addition, growing players focus on strategic integration to strengthen business presence these factors are expected to contribute to the growth of the smoke evacuation system market.
In 2019, CONMED Corporation, a medical technology company that specializes in developing and selling surgical and patient examination products and services, acquired Buffalo Filter LLC. This purchase helped the company develop and deliver advanced smoke evacuation products.
In 2018, Stryker Corporation, a global medical technology company acquired Safe Air. The build was aimed at strengthening Stryker Corporation’s product portfolio of smoke evaporators.
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The Asia Pacific market is expected to see faster growth in the smoke evacuation system market due to high government spending on the healthcare sector. According to the Ministry of Commerce & Industry, Government of India Indian government spending on healthcare sector has grown to 1.6% of GDP in FY20BE from 1.3% in FY16. Changing business policies and improving regulatory position attract key players and this is expected to impact the growth of the target market in this sector. In addition, players seeking to promote the industry in emerging economies and increase revenues is another feature that supports the growth of the market. the smoke evacuation system.
Rapid technological advances in medical devices and growing demand from hospitals and clinics for smoke evacuation system for better surgical output are key factors that are expected to drive the growth of global smoke evacuation system market. An increase in the number of hospitalized patients in hospitals suffering from breast diseases is leading to more and more surgeries this factor is influencing the growth of target market. Factors such as high cost of equipment and strict government regulations related to product approval are expected to hinder the growth of the global smoke evacuation system market.
In addition, the completion of a cut among players on a low profit ratio is expected to challenge the growth of the target market. However, high investment by key players for cost-effective product development and increase in the number of survival modes are the factors that are expected to create new opportunities for players operating in the smoke evacuation system market over time. which is expected. In addition, an increase in partnership activity with key players to strengthen the distribution channel is expected to support the revenue trading of the target market.
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The global smoke evacuation system market is segmented into production, application and end use. The application department is devoted to laparoscopic, orthopedic, medical surgeries, and others. Among the application, the laparoscopic surgeries are expected to account for a large revenue segment in the smoke evacuation system market. The end-use segment is divided into hospitals, mobile surgery centers, cosmic surgery centers, dental clinics, and veterinary health care providers.
The players operating in the global smoke evacuation system market are Medtronic, CONMED Corporation, Zimmer Biomet, Stryker, Ethicon Inc., Erbe Elektromedizin GmbH, Symmetry Surgical Inc., Pall Corporation, KLS Martin Group, and Olympus Corporation. The market is highly competitive due to the large number of players operating at a global level.
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