Growing Prevalence of CVDs, Bone Degeneration Diseases to Drive Demand from Inhalation Anesthesia Market
The Inhalation Anesthesia Market is projected to reach USD 1.5 Billion by 2032 at 8.3% CAGR during the forecast period 2023-2032.
The global inhalation anesthesia market is mainly driven by the increasing number of surgical procedures being conducted around the world and was valued at USD 1.12 billion in 2018. The market is profiled in detail in the report, which includes detailed historical profiles of the major factors affecting the market’s growth trajectory. Major drivers and restraints affecting the inhalation anesthesia market are profiled in the report. Key players operating in the inhalation anesthesia market are also profiled in the report to give readers a clear idea of the competitive dynamics in the market.
Inhalation anesthesia is a process of delivering anesthesia via inhalation rather than injection. Inhalation anesthesia is widely used for inducing as well as maintaining sedation in patients undergoing surgical procedures. Maintaining sedation is the primary application of inhalation anesthesia rather than inducing it, as the dosage and effect of inhalation anesthesia can be judged more accurately than injected anesthesia. The increasing demand for minimally invasive or noninvasive procedures in the healthcare sector is likely to be a major driver for the inhalation anesthesia market over the forecast period. Rather than being injected into the body, inhalation anesthesia materials are administered by inhalation, allowing painless administration of anesthesia. This has helped the inhalation general anesthesia market achieve steady growth in recent years and is likely to remain a major driver for the market in the coming years.
The increasing demand for surgical procedures is likely to be a major driver for the inhalation anesthesia market over the forecast period. The increasing geriatric population around the world is likely to be a key factor driving up the demand for surgeries, as the geriatric population is more likely to require surgeries than younger demographics. The increasing prevalence of cancer, cardiovascular conditions, and neurological conditions is also likely to drive up the demand for surgical procedures in the coming years, thus acting as a significant growth driver for the inhalation anesthesia market.
Competitive Analysis:
The inhalation anesthesia market players are AbbVie Inc., Fresenius Kabi AG, Jiangsu Hengrui Medicine Co. Ltd., Piramal Enterprises Ltd., Lunan Pharmaceutical Group Co. Ltd., Hikima Pharmaceuticals plc, Halocarbon Products Corporation, and Baxter International Inc. Leading players in the global inhalation anesthesia market are likely to focus on the development of more effective anesthesia products in the coming years. Eliminating the risk of side effects and maximizing the potency of the anesthesia agent is likely to be a key objective for inhalation anesthesia market players over the forecast period.
Segmentation:
The global inhalation anesthesia market is segmented on the basis of product type, application, and region.
By product, the global inhalation anesthesia market is segmented into sevoflurane, isoflurane, and desflurane.
By application, the global inhalation anesthesia market is segmented into induction and maintenance.
Regional Analysis:
The report covers the Americas, Europe, Asia Pacific, and MEA (Middle East and Africa) regional markets to provide a comprehensive breakdown of the inhalation anesthesia market’s presence in each region. The Americas are likely to remain the dominant force in the global inhalation anesthesia market over the forecast period, with North America dominating the global charts for production as well as usage of inhalation anesthetics. The Americas region held a share of close to 50% in the global inhalation anesthesia market in 2018 and is likely to remain a major regional market for inhalation anesthesia in the coming years. Widespread presence of advanced healthcare infrastructure and awareness about inhalation anesthetics are the major drivers for the inhalation anesthesia market in North America.
Europe accounts for the second largest share in the global inhalation anesthesia market, holding around 30% of the global market. Strong development in healthcare research is likely to be a major driver for the inhalation anesthesia market in the region over the forecast period.
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