An analysis of the market developments between 2016 and 2019 has revealed that several growth strategies, such as product launches, product approvals, and acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the smoke evacuation systems market.
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Product launches and acquisitions were the most widely adopted growth strategies by market players in the last four years.
Increased product availability of smoke evacuation systems, rising patient preference for minimally invasive surgeries, expansion in the target patient population needing surgical procedures, and wider acceptance and availability of relevant operating room protocols and guidelines for smoke evacuation are the major factors driving the growth of the global smoke evacuation systems market.
The global smoke evacuation systems market is projected to reach USD 223 million by 2024 from USD 162 million in 2019, at a CAGR of 6.6%
Recent Developments
- In November 2019, CONMED Corporation (US) acquired Buffalo Filter LLC (US) in order to improve its smoke evacuation product line.
- In January 2018, Stryker Corporation (US) acquired Safe Air (Switzerland) to enhance its product portfolio in surgical smoke evacuation.
- In January 2017, Ethicon (US) acquired Megadyne Medical Products (US), Inc. to expand its advanced energy portfolio related to smoke evacuation products.
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