As per the report, the global smoke evacuation system industry was pegged at $128.6 million in 2019, and is projected to reach $196.4 million by 2027, growing at a CAGR of 10.5% from 2020 to 2027.
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Drivers, restraints, and opportunities
Rise in the product availability and surge in electrosurgical procedures drive the growth of the global smoke evacuation system market. However, technical concerns and scarcity of skilled professionals hinder the market growth. On the contrary, increase in patient preferences for minimally-invasive surgeries is expected to open lucrative opportunities for the market players in the future.
The global smoke evacuation system market is segmented on the basis of product, end user, application, and region. Based on product, the smoke evacuation filters segment is projected to manifest the highest CAGR of 11.4% during the forecast period. Moreover, the segment dominated the market in 2019, contributing to nearly one-third of the market.
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The cosmetic surgery centers segment to manifest the highest CAGR through 2027
By end user, the cosmetic surgery centers segment is projected to portray the highest CAGR of 12.6% during the forecast period, due to rise in medical tourism for cosmetic surgeries and surge in the number of cosmetic laser surgeries that emit smoke. However, the hospitals segment held the lion’s share in 2019, contributing to nearly half of the global smoke evacuation system market, owing to higher number of surgeries being performed at the hospitals annually than others.
North America dominated the market
By region, the market across North America held the largest share in 2019, accounting for more than two-fifths of the market, due to increase in number of aesthetic procedures performed within the region. However, the global smoke evacuation system market across Asia-Pacific is estimated to register the highest CAGR of 12.0% from 2020 to 2027, due to rise in consistent effects toward commercializing smoke evacuation devices at lower prices to the end users.
Major market players
- Medtronic, Plc
- Conmed Corporation
- Ethicon
- Stryker Corporation
- Ecolab
- Pall Corporation
- Coopersurgical, Inc.
- Zimmer Biomet Holdings Inc.
- Olympus corporation
- Utah Medical Products, Inc.
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