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The global inhalation anesthesia market size is estimated to grow by USD 298.36 million at a compound annual growth rate (CAGR) of 4.35% between 2023 and 2028.
According to the National Cancer Institute, there were approximately 17 million cancer survivors in the US in 2020, and it is expected to reach 22.2 million by 2030. Breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial cancer, pancreatic cancer, thyroid cancer, and liver cancer are the most common cancers. As a result of the increasing frequency of cancer, the market will grow, as inhalation anesthesia is often used for surgical operations to treat cancer.
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The market share growth by the sevoflurane segment will be significant during the forecast period. Sevoflurane refers to an anesthetic agent that exerts its effects by causing depression in central nervous system activity. Sevoflurane is an inhaled agent and is eliminated from the body after the discontinuation of anesthesia. The increasing demand for sevoflurane anesthesia is attributed to the growing geriatric population as the geriatric population undergoes minor surgical procedures like dental more often.
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The sevoflurane segment was the largest and was valued at USD 648.00 million in 2018. Sevoflurane is used during various procedures such as dental, surgical, and gynecological. It is inexpensive and easy to handle compared to other gases used for inhalation anesthesia, which will further enhance the growth of the sevoflurane segment. With a favourable regulatory environment providing low-cost healthcare infrastructure coupled with the emergence of new product launches and technological advancements in existing products, the sevoflurane segment is expected to witness significant growth. Therefore, the sevoflurane segment will propel growth in the market during the forecast period.
The usage of inhalation anesthesia in maintenance has been increasing in recent years, as it provides a number of advantages over other types of anesthesia. Inhalation anesthesia in maintenance requires a shorter recovery time and contains minimum side effects. The most popular type of inhalation anesthesia that is used for maintenance is sevoflurane, as this gas is effective in maintaining anesthesia. In addition, the rising awareness regarding the benefits associated with minimally invasive surgeries and the increase in chronic diseases that often require surgical intervention will fuel the growth of the segment. Therefore, owing to such factors, the maintenance segment is expected to grow in the market during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The increasing prevalence of chronic diseases, which increases the demand for surgical procedures as a part of the treatment procedure, the rising incidence of COVID-19, increasing adoption of advanced technologies, improved healthcare infrastructure, rising geriatric population, and the presence of prominent vendors are driving the growth of the market in the region. The prevalence and incidence of chronic diseases in North America have increased significantly. For instance, according to the National Cancer Institute, in 2020, 1,806,590 new cases of cancer were diagnosed in the US, and 606,520 people lost their lives to the disease.
In addition, The geriatric population is more likely to develop chronic respiratory diseases, which increases the demand for inhalation anesthesia. The increased probability of developing several respiratory diseases among these people is driving the demand for inhalation anesthesia, thereby fostering the growth of the market in North America. Such factors are expected to drive the market growth during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:
AbbVie Inc. - The company offers inhalation anesthesia such as Ultane which is used for induction and maintenance of general anesthesia during surgical procedures.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the market, there's a rising concern over the adverse influence of greenhouse gases, driving the need for mitigating effect. Guidance from the American Society ensures therapeutic states are achieved through precise control of alveolar concentration. Understanding mechanisms such as blood solubility and gas solubility is crucial for ambulatory care and same-day surgeries, offering a competitive edge in patient outcomes. Application insights reveal the efficacy of overnight stays versus surgical centers for cost-sensitive patients. Management services streamline hospital stays, optimizing respiratory tract management. As anesthesia techniques advance, the focus remains on fast effects and patient comfort, with inhalation anesthesia emerging as a preferred choice. With its safe and efficient delivery in various settings, inhalation anesthesia continues to shape the landscape of modern healthcare. There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
Increasing number of surgeries is one of the major market trends. Anesthesia is a vital component of modern surgical procedures, as it allows patients to undergo surgery without experiencing pain or discomfort. This rise is mainly due to increasing incidents of injuries and accidents that require surgeries. For instance, according to WHO's Global Status Report on Road Safety, the number of road accidents reached 1.35 million, with approximately 64 deaths for every 100,000 vehicles. The increasing number of road accidents will boost the demand for anesthesia drugs.
Furthermore, according to the article 'Trauma of Major Surgery' published in the National Center for Biotechnology Information (NCBI) in July 2020, globally, a staggering 310 million major surgeries are performed each year. This shows an increase in the number of surgical procedures, which leads to an increase in the demand for anesthetic medicines.
Stringent regulations regarding the usage of inhalation anesthesia is a significant challenge hindering market growth. The improper usage of inhalation anesthesia can result in therapeutic failure, exacerbation of diseases, resistance to medicines, and death. Such factors undermine confidence in healthcare systems, health professionals, pharmaceutical manufacturers, and distributors. The US FDA and Health Canada require generics to measure up to the original brand-name drugs in terms of strength, quality, purity, and safety. The FDA mandates manufacturers to perform bioequivalence testing of drugs as drugs must also deliver the same amount of active pharmaceutical ingredients (API) to the human body as their brand-name counterparts.
However, once the FDA approves the drug, it continues to examine the medicines' safety by continuously monitoring the drug products. Such stringent actions undertaken by governments for the approval and monitoring of anesthesia drugs limit the entry of players into the market, which, in turn, will hamper the growth of the market during the forecast period.
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The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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In the dynamic landscape of the market, there's a growing focus on achieving a therapeutic state with a fast effect and mitigating adverse effects through understanding mechanisms of action and blood/gas solubility. As healthcare expenditure rises, stakeholders seek cost-effective solutions, driving the preference for inhalation anesthesia due to its potency and compatibility with patient benefits. Data from NCBI and NIH underscores the efficacy of inhalation anesthesia, particularly in elective surgeries, where overnight stays or surgical centers offer diverse settings for patient care. With advancements in ambulatory surgical centers and ventilation techniques, intravenous routes are complemented by inhalation anesthesia's therapeutic index, catering to diverse patient pools while ensuring safety and efficacy across ages and metabolic profiles. Surgeons rely on this modality for precise dosage and optimized outcomes in ICUs, highlighting its pivotal role in modern healthcare.
Market Scope |
|
Market Report Coverage |
Details |
Page number |
144 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.35% |
Market Growth 2024-2028 |
USD 298.36 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
4.08 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key countries |
US, Germany, UK, China, and India |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Baxter International Inc., Fresenius Kabi AG, Halocarbon Life Sciences LLC., Hikma Pharmaceuticals Plc, Lunan Pharmaceutical Group, Maruishi Pharmaceutical Co. Ltd., Novartis AG, Piramal Enterprises Ltd., and Senko Medical Instrument Mfg. Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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