PUBLISHER: The Business Research Company | PRODUCT CODE: 1392721
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392721
“Inhalation Anesthesia Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on inhalation anesthesia market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for inhalation anesthesia? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The inhalation anesthesia market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Inhalation anesthesia pertains to medications administered in operating rooms for the purpose of initiating and sustaining general anesthesia. Alongside other therapeutic effects, it induces varying degrees of drowsiness, ranging from mild to profound, ultimately achieving a state of general anesthesia. Inhalation anesthesia finds application in both the induction and maintenance phases of general anesthesia within the operating room.
Key products in the realm of inhalation anesthesia include sevoflurane, desflurane, isoflurane, and nitrous oxide. Isoflurane, specifically, is an inhaled general anesthetic employed for the initiation and upkeep of general anesthesia. Its action involves muscle relaxation and a reduction in pain sensitivity through the modification of tissue excitability. The uses of inhalation anesthesia encompass both the induction and maintenance phases, and the primary end-users are hospitals and ambulatory surgical centers.
The inhalation anesthesia market research report is one of a series of new reports from The Business Research Company that provides Inhalation anesthesia market statistics, including inhalation anesthesia industry global market size, regional shares, competitors with an inhalation anesthesia market share, detailed inhalation anesthesia market segments, market trends and opportunities, and any further data you may need to thrive in the inhalation anesthesia industry. This inhalation anesthesia market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The inhalation anesthesia market size has grown strongly in recent years. It will grow from $1. 46 billion in 2023 to $1. 56 billion in 2024 at a compound annual growth rate (CAGR) of 7. 1%. The expansion observed during the historical period can be attributed to the increasing demand for surgical procedures necessitating anesthesia, a growing geriatric population, advancements in the development of inhalation anesthetics, the proliferation of ambulatory surgical centers, and a rising prevalence of chronic diseases such as heart disease and cancer.
The inhalation anesthesia market size is expected to see strong growth in the next few years. It will grow to $2. 14 billion in 2028 at a compound annual growth rate (CAGR) of 8. 2%. The anticipated growth in the forecast period can be attributed to an increasing demand for minimally invasive surgeries, a rise in global healthcare expenditure, a growing number of surgical procedures in emerging markets, the adoption of inhalation anesthesia in veterinary medicine, and an augmentation in government funds allocated for the research and development of innovative inhalation anesthetics. Prominent trends expected in the forecast period encompass technological innovations in anesthesia delivery systems, the development of inhalation anesthesia devices tailored for pediatric use, a shift towards the usage of sevoflurane and desflurane, a heightened focus on eco-friendly anesthetic agents, and the integration of monitoring technologies in anesthesia delivery.
The anticipated growth in the geriatric population is set to drive the inhalation anesthesia market during the forecast period. The increasing number of elderly individuals contributes to the expansion of the inhalation anesthesia market as this demographic is more susceptible to degenerative diseases and chronic illnesses, leading to a heightened demand for surgeries and therapeutic interventions. The rise in the geriatric population, prone to ailments like cardiovascular, neurological, respiratory, and degenerative disorders, plays a significant role in boosting market growth. Administering anesthesia through an intravenous route to geriatric patients can be inconvenient due to issues with punctured blood vessels and patient compliance. For example, as of October 2022, the World Health Organization reports a projected global population of 1. 4 billion individuals aged 60 years by 2022 compared to 1 billion in 2020. Additionally, it is estimated that by 2030, one out of every six people worldwide will be aged 60 years or older. Consequently, the increasing geriatric population is expected to drive the demand for inhalation anesthesia throughout the forecast period.
The expected increase in chronic diseases is poised to fuel the growth of the inhalation anesthesia market. Chronic diseases, characterized by long-term persistence over three months or more, often necessitate surgical interventions for diagnosis, treatment, or management. Inhalation anesthesia becomes crucial in providing comfort and safety to patients during these surgical procedures. A report from the National Library of Medicine, published in January 2023, projects a 99. 5% increase in the number of individuals aged 50 years and older with one or more chronic illnesses, reaching 142. 66 million by 2050 in the United States, up from 71. 522 million in 2020. As a result, the upsurge in chronic diseases is expected to propel the growth of the inhalation anesthesia market.
In response to industry demands and to strengthen their market positions globally, numerous companies in the inhalation anesthesia sector are developing innovative products like Sedaconda. Sedaconda, an inhaled sedation therapy delivered through the Anaesthetic Conserving Device (ACD), received approval for use in intensive care. For example, in February 2022, Sedana Medical AB, a Sweden-based med-tech and pharmaceutical company, introduced Sedaconda (isoflurane) to the German market. Sedaconda (isoflurane) is administered using the medical device known as Sedaconda ACD (Anaesthetic Conserving Device) and is the sole approved inhaled sedation therapy authorized for use in intensive care settings.
Leading companies in the inhalation anesthesia market are channeling their efforts into developing innovative products such as end-tidal (ET) control software to enhance their offerings. The End-tidal (Et) Control software, designed for administering general anesthesia through the Aisys CS2 Anesthesia Delivery System, received FDA pre-market approval (PMA) from GE Healthcare Technologies Inc., a US-based medical technology company, in April 2022. This software facilitates semi-automated anesthesia administration by enabling anesthesia providers to set and maintain end-tidal oxygen and anesthetic agent targets, improving precision in inhalation anesthesia delivery, streamlining workflows, reducing drug wastage, and contributing to cost savings and reduced greenhouse gas emissions in healthcare settings.
In January 2022, Dechra Pharmaceuticals, a UK-based specialist veterinary pharmaceuticals and related products business, acquired Isoflurane USP Inhalant Anesthetic and Sevoflurane USP Inhalant Anesthetic from Halocarbon Life Sciences for an undisclosed amount. This acquisition adds Isoflurane and Sevoflurane to Dechra's pharmaceutical companion animal portfolio, focusing on areas such as endocrinology, anesthesia, fluid therapy, dermatology, ophthalmology, pain management, joint health support, and dental care. Halocarbon Life Sciences is a US-based leader in supplying isoflurane and sevoflurane inhalation anesthetic products for human and veterinary applications.
Major companies operating in the in the inhalation anesthesia market report are Abbvie Inc., Baxter International Inc., Fresenius SE & Co. KGaA, Halocarbon Products Corporation, Hikma Pharmaceuticals PLC, B. Braun Melsungen AG, Lunan Pharmaceutical Group Co. Ltd., Maruishi Pharmaceutical Co. Ltd., Mylan N. V., Piramal Enterprises Ltd., Recipharm AB, Sandoz International GmbH, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Wockhardt Ltd., AstraZeneca PLC, C. H. Boehringer Sohn AG & Co. KG, Bristol-Myers Squibb Company, Eisai Co. Ltd., GlaxoSmithKline PLC, Johnson & Johnson Inc., Merck & Co. Inc., Novartis AG, Pfizer Inc., F. Hoffmann-La Roche AG, Sanofi S. A., Takeda Pharmaceutical Company Limited, Teijin Pharma Limited, UCB S. A., Zydus Lifesciences Limited
North America was the largest region in the inhalation anesthesia market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the inhalation anesthesia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the inhalation anesthesia market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The inhalation anesthesia market consists of sales of nitrous oxide, halothane, isoflurane, desflurane, and sevoflurane. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.