Anesthesia gases are used during surgeries and other medical procedures to induce controlled sleep or relaxation in patients receiving medication. They provide faster onset and offset of action with precise controllability. Moreover, anesthesia gases offer superior safety with minimal side effects compared to traditional intravenous or injectable options. The global Anesthesia Gases Market is estimated to be valued at US$ 1894.37 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing number of surgeries due to rising chronic diseases and accidents is a key factor driving the adoption of anesthesia gases. As per one estimate, over 234 million surgical procedures are performed annually worldwide. This rising surgical volume is expected to boost the demand for anesthesia gases over the forecast period. Furthermore, growing awareness about minimal invasiveness and faster recovery associated with anesthesia gases is also fueling their uptake compared to traditional options. Advancing technology for precise delivery systems is further expanding the application scope of these medical gases in complex surgeries and therapies.
Segment Analysis
The global anesthesia gases market is dominated by the inhalation anesthetic agents segment. This segment accounted for the largest market share in 2022 owing to the high usage of these agents, such as desflurane, sevoflurane, and isoflurane, during general anesthesia procedures. The key advantages of inhalation anesthetic agents include rapid induction and emergence from anesthesia, less postoperative nausea and vomiting, and ease of administration.
Key Takeaways
The Global Anesthesia Gases Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 3.6% during this period. By 2030, the market size is estimated to reach US$ 2256.12 Mn.
Regional analysis
North America currently dominates the global anesthesia gases market due to the high number of surgical procedures performed in countries like the US and Canada. Furthermore, growing adoption of advanced anesthesia monitoring devices and rising healthcare expenditure in the region are fueling market growth.Asia Pacific is expected to witness the fastest growth during the forecast period owing to increasing demand for anesthesia in emerging economies such as China and India.
Key players
Key players operating in the anesthesia gases market are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, Drägerwerk AG & Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others. These players are focusing on new product launches and strategic collaborations to strengthen their presence and capture larger market share.
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