Newark, NJ, Sept. 30, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global inhalation anesthesia market is expected to grow from USD 1.19 billion in 2019 and to reach USD 1.6 billion by 2027, growing at a CAGR of 3.8% during the forecast period 2020-2027.
The global inhalation anesthesia market is witnessing significant growth from recent years. This growth is attributed to an increasing number of surgeries, an increase in the number of severe road accidents, a rise in the number of world population, and a large number of individuals suffering from cardiovascular, cancer, orthopedic, spinal, respiratory, and neurological gastrointestinal, and various other diseases. An increase in infectious diseases, increased incidence of chronic diseases, and genetic disorders worldwide will propel the market. Increasing innovations in the inhalation devices and rising governmental support will fuel the market growth.
Inhalation anesthesia, also known as volatile anesthetic agents, is a chemical compound with an ability of maintenance and induction of general anesthesia and sedation in the operating room. Inhalation anesthesia is usually preferred for maintenance as they allow precise control of the anesthetic state at a low cost. It offers the experimental surgeon various advantages. Inhalation anesthesia provides amnesia and immobility, except nitrous oxide, that provides analgesia. The most frequent side effect of inhalation anesthesia is nausea. It is produced by the respiration of the volatile liquid, gaseous anesthetic agent. Inhalation anesthesia is preferred in case of impaired hepatic as it eliminates risk and passes through the lungs to reduce hospital care costs.
The global inhalation anesthesia market is expected to witness significant growth, owing to the advantages of inhalation anesthetics over injectable anesthetics, growing demand for surgical procedures worldwide, and effective for a short duration of time. Inhalation anesthesia drugs can be administered by patients' breathing, and it is efficient and good control over sedation. Strict regulatory scenario, risks associated with the therapeutic and diagnostic devices, and low adoption rate of new technologies will restrain the market growth. The factors providing market growth opportunities are the rise in healthcare expenditure in emerging economies and the rise in the elderly population.
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The key players operating in the global inhalation anesthesia market are Fresenius Kabi¸ Abbott, Baxter International, Halocarbon Products, Jiangsu Hengrui Medicine, Hikma Pharmaceuticals, Piramal, Abbvie, Mylan, Lunan Pharmaceutical, and Eisai. To gain a significant market share in the global inhalation anesthesia market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Abbott and Abbvie are some of the key manufacturers in inhalation anesthesia.
- For instance, in October 2016, Janssen’s injectable and pain management products were acquired by Piramal Enterprises. This acquisition will help the company expand its critical care business portfolio and broaden the existing customer base.
- In January 2019, Novartis division, Sandoz, launched Desflurance Liquid for inhalation. It is the first generic of Suprane launched in the U.S. This liquid is an inhalation agent for maintenance and induction of anesthesia for inpatient and outpatient surgery in adults.
Sevoflurane segment dominated the market and held the largest share of 41.2% in the year 2019
On the basis of product, the global inhalation anesthesia market is segmented into sevoflurane, isoflurane, and desflurane. Sevoflurane segment dominated the market and held the largest share of 41.2% in the year 2019. This growth was attributed to the certainty that the induction of anesthesia with sevoflurane is favorable in neonates compared to desflurane and isoflurane, as it lacks airway irritation. The desflurane segment is expected to witness significant growth, owing to wide use in ambulatory anesthesia, and acts as an ideal agent with lower blood gas solubility.
Maintenance segment dominated the market and held the largest share of 56.8% in the year 2019
On the basis of application, the global inhalation anesthesia market is segmented into induction and maintenance. Maintenance segment dominated the market and held the largest share of 56.8% in the year 2019. This growth was attributed to the increasing demand for inhalation anesthetic due to a fast recovery and airway safety compared to injectable anesthetics. The induction segment is anticipated to witness significant growth, owing to increasing demand for inhalation anesthetics and a higher concentration of drugs than the amount required for maintenance.
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Regional Segment of Inhalation Anesthesia Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global inhalation anesthesia market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America held the major share of 35.43% in the year 2019. This growth was attributed to the rising prevalence of chronic diseases, changing lifestyles, unhealthy dietary habits, and increasing healthcare sector investment. The increasing number of hospital admissions, subsequent surgical demand, high trauma incidences, and increasing geriatric population are the other major factors driving the region's market. The Asia-Pacific market is anticipated to witness significant growth, owing to growing awareness regarding health issues, the presence of a large patient pool opting for surgical procedures, and rising healthcare expenditure.
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About the report:
The global inhalation anesthesia market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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