PRESS RELEASE
Published September 18, 2023
The valuation of the global inhalation anesthesia market was USD 1.46 billion in 2022, and it is projected to grow at a CAGR of 9.04% from 2023 to 2030. The growth of the market can be attributed to the rise in surgical procedures and the demand for shorter hospital stays. Inhalation anesthesia offers improved patient outcomes when compared to the intravenous route. Delivering anesthetic agents through the respiratory tract allows for controlled and effective sedation, proving to be cost-effective and safe. The advantages of the inhalation route over the intravenous route serve as significant growth drivers for the market. Inhalation anesthesia is especially beneficial for patients requiring ventilation for more than 24 hours, enabling easy health monitoring. Consequently, the superior patient benefits associated with inhalation anesthesia, as opposed to the intravenous version, are anticipated to propel revenue growth throughout the forecast period.
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According to data from the NCBI, approximately 310 million major procedures are conducted annually, with 40–50 million occurring in the United States and 20 million in Europe. The post-COVID-19 scenario has led to a surge in elective procedures, consequently driving the demand for inhalation anaesthetics. During the COVID-19 epidemic, the Centres for Medicare and Medicaid Services encouraged hospitals to minimize, postpone, or cancel elective surgeries in 2020, resulting in a 48% decline in surgical procedures in the U.S. In the context of general anesthesia, inhaled anaesthetics are commonly utilized. The National Institutes of Health (NIH) state that over 60,000 individuals undergo surgery while under general anesthesia. Vital life-saving procedures like brain surgery, open heart surgery, or organ transplantation would not be feasible without general anesthesia.
Recent Development in Inhalation Anesthesia Market
Manufacturers have been developing sophisticated anesthesia machines that provide precise control over the concentration of inhaled anesthetics, ensuring patient safety and optimal anesthetic depth during surgical procedures.
- Introduction of Halogenated Inhalation Anesthetics: Halogenated inhalation anesthetics, such as sevoflurane and desflurane, continue to gain popularity in the market due to their favorable pharmacokinetic properties. These anesthetics offer faster induction and emergence from anesthesia, making them particularly suitable for outpatient and ambulatory surgeries.
- Rising Demand for Disposable Anesthetic Breathing Circuits: There has been an increasing demand for disposable anesthetic breathing circuits in the inhalation anesthesia market. Disposable circuits reduce the risk of cross-contamination and infection transmission, making them a preferred choice in modern healthcare settings.
- Growing Adoption of Total Intravenous Anesthesia (TIVA): While inhalation anesthesia remains widely used, there is a growing trend towards Total Intravenous Anesthesia (TIVA). TIVA involves administering anesthetic agents intravenously and is often preferred for specific patient populations or procedures where inhalation agents may not be ideal.
- Expansion of Anesthesia Gas Monitoring Technologies: Manufacturers are continuously working on developing advanced anesthesia gas monitoring technologies. These monitoring systems provide real-time data on inhaled and exhaled anesthetic gas concentrations, helping anesthesiologists maintain precise control over anesthesia levels.
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Major Classifications are as follows:
Drug Outlook (Revenue, USD Million, 2023 - 2030)
• Sevoflurane
• Desflurane
• Isoflurane
• Others
Application Outlook (Revenue, USD Million, 2023 - 2030)
• Induction
• Maintenance
End-Use Outlook (Revenue, USD Million, 2023 - 2030)
• Hospitals
• Ambulatory Surgical Centers
• Others
Regional Outlook (Revenue, USD Million, 2023 - 2030)
• North America
o U.S.
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Denmark
o Sweden
o Norway
• Asia Pacific
o Japan
o China
o India
o South Korea
o Australia
o Thailand
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o Kuwait
Key Players
• Halocarbon Products Corporation
• Baxter
• AbbVie Inc.
• Lunan Pharmaceutical Group
• Piramal Enterprises Ltd.
• Sandoz International GmbH
• Fresenius Kabi AG
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Key Questions Addressed by the Report
• What are the growth opportunities in the Inhalation Anesthesia Market?
• What are the major raw materials used for manufacturing Inhalation Anesthesia Market?
• What are the key factors affecting market dynamics?
• What are some of the significant challenges and restraints that the industry faces?
• Which are the key players operating in the market, and what initiatives have they undertaken over the past few years
Inhalation Anesthesia Market Frequently Asked Questions (FAQs):
- What are the commonly used inhalation anesthetic agents?
- How does inhalation anesthesia work?
- What is the fastest acting inhalational anesthetic?
- Which following inhalation anesthetics are most popular globally?
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