Inhalation anesthetic agents are a group of chemicals used in induction and maintenance of anesthesia during surgery. They are preferred due to the precise control of the anesthesia and prevent the movement of the body. It is preferred for maintenance due to its low cost. The global Inhalation Anesthesia Market Share report contains useful insights, drivers, and challenges for producers of anesthetic agents during the period of 2019 to 2025 (forecast period). The report will take a comprehensive analysis of the industry and map the various strategies of players as well as the sustainable strategies undertaken by them to sustain during the forecast period.
The global inhalation anesthesia market is expected to reach a significant valuation by exhibiting a CAGR of 3.8% during the forecast period. The market size stood at USD 1.12 billion in 2018. The growing elderly populace is one of the biggest drivers of the market. The amount of surgeries affecting the elderly warrants the need for inhalation anesthesia. According to the World Health Organization (WHO), the numbers of the elderly can inflate from 12% to 22% by 2050.
Rise of emergency short stays at hospitals and ambulatory care centers is one of the biggest drivers of the market. Improvements in healthcare infrastructure, success in surgeries, and access to health insurance are other factors which will be critical to the global inhalation anesthesia market. Rising approvals of regulations, prevalence of cardiovascular and respiratory disorders, and inhalation of drugs can induce the procurement of inhalation anesthesia. Moreover, the need for the safe passage of drugs for inhalation during maintenance and induction can induce the need for inhalation anesthetics.
Concerns regarding greenhouse gas emissions can impede the market growth. But anesthesia recycling is expected to gain traction to overcome challenges portrayed by the prolonged use of these gases. Anesthesia recycling systems have been developed to collect anesthesia gases from hospital vents.
The global inhalation anesthesia market is segmented by product and application.
By product, it is segmented into sevoflurane, isoflurane, and desflurane. Sevoflurane had dominated the market in 2018 and pegged to continue till the end of the forecast period. This can be attributed to the usage in anesthesia induction and low cost. On the other hand, isoflurane is effective in low amounts and be passed via the lungs to lower hospital expenses.
Major applications include induction and maintenance.
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Regions covered with respect to the global inhalation anesthesia market are the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
The Americas is estimated to lead the global market owing to the growing geriatric population. As per the data by the United Census Bureau, the U.S. populace can expand from 326 million in 2018 to 404 million by 2060. According to statistics by the World Health Organization (WHO), more than 20% of the population in the U.S. will comprise persons aged 65 and above by 2030. The spike in the number of surgeries can drive the demand for inhalation anesthesia. According to the American Society for Aesthetic Plastic Surgery, close to 1.5 million surgeries were conducted in 2017.
APAC can display a stellar growth rate during the forecast period owing to increased healthcare expenditure of nations, prevalence of chronic conditions, and awareness of medications. Other drivers include health insurance for masses, rise of medical tourism, and establishment of ambulatory care centers.
Lunan Pharmaceutical Group Co. Ltd, Halocarbon Products Corporation, Baxter International Inc., Jiangsu Hengrui Medicine Co. Ltd, Fresenius Kabi AG, Hikima Pharmaceuticals plc., AbbVie Inc., and Piramal Enterprises Limited are key players of the global inhalation anesthesia market.
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