Global Inhalation Anaesthesia Market Size Is Projected To Reach USD 1.84 Billion By 2031, Growing At A CAGR Of 4.2%: Straits Research

(MENAFN- GlobeNewsWire - Nasdaq) The Inhalation Anaesthesia Market is poised for significant growth due to two key drivers, the increasing number of surgeries globally and the growing incidents of severe road accidents.

New York, United States, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Inhalation Anaesthesia is a common method in medical procedures to achieve general anesthesia. It involves administering anesthetic agents through inhalation to induce a state of controlled unconsciousness, ensuring patient comfort and pain relief during surgeries and invasive interventions. The patient inhales these anesthetic agents from gases or volatile liquids designed for anesthesia. The administration of inhalation Anaesthesia is facilitated by specialized equipment such as Anaesthesia machines, vaporizers, and breathing circuits. These tools ensure precise delivery and monitoring of the anesthetic agents throughout the procedure. During surgical procedures, anesthetic agents are crucial in controlling various physiological parameters, including pain, breathing, blood pressure, blood flow, and heart rate.

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Increasing Number of Surgeries Drive the Global Market

According to Straits Research, "The global inhalation Anaesthesia market size was valued at USD 1.35 billion in 2022. It is estimated to reach USD 1.84 billion by 2031, growing at a CAGR of 4.9% during the forecast period (2023–2031)." The global market for inhalation Anaesthesia is experiencing a rise due to the increasing number of surgeries being performed worldwide. Surgical procedures often require Anaesthesia to ensure patient comfort and manage pain during the operation. Factors such as advancements in medical technology, improved healthcare access, and a growing elderly population contribute to the rising demand for surgeries. In addition, the need for Anaesthesia goes hand in hand with the increasing number of surgeries. Inhalation Anaesthesia is a commonly used method that allows for the precise administration of anesthetic agents and ensures a smooth transition into and out of anesthesia. It offers effectiveness and controllability, making it a preferred choice in surgical settings.

High Growth Potential Offered by Emerging Economies Creates Tremendous Opportunities

Due to advancements in healthcare infrastructure and a rise in demand for better healthcare, emerging nations in Asia-Pacific and LAMEA present significant development prospects for developing the market for inhalation anesthesia. Increasing surgical procedures, road accidents, and illnesses, including cancer and gastrointestinal problems, also increases the demand for inhalation anesthesia. In addition, rising healthcare and R&D expenditures in developing nations like Brazil, China, and India contribute to the expansion of the inhalation Anaesthesia market. These investments paved the way for the creation of cutting-edge anesthetic technology, enhanced Anaesthesia delivery systems, and the launch of ground-breaking products.

Regional Analysis

North America inhalation Anaesthesia market share is estimated to grow at a CAGR of 5.89% over the forecast period. The North American inhalation Anaesthesia market is experiencing significant growth, driven by several key factors. One of the main motivators is the increase in government funds allocated for research and development (R&D) of novel inhalation anesthesia. These funds support the development of advanced Anaesthesia products and technologies, facilitating innovation in the market and driving its growth. In addition, the region has witnessed a rise in cancer incidence. Cancer treatments often require surgical procedures, and Anaesthesia is crucial in ensuring patient comfort and safety during these interventions. As the prevalence of cancer continues to rise, the demand for surgical procedures and disease treatments also rises, consequently boosting the demand for inhalation anesthesia.

Furthermore, North America is highly accepting of technological advancements in the healthcare sector. The region boasts a well-established healthcare infrastructure and a strong emphasis on adopting innovative medical technologies. This favorable environment creates opportunities for manufacturers to introduce advanced inhalation Anaesthesia products that cater to the evolving needs of healthcare providers and patients.

Europe is estimated to exhibit a CAGR of 4.01% over the forecast period. Europe holds a significant share of the inhalation Anaesthesia market and is expected to grow steadily in the coming years. The region benefits from several factors that contribute to its market growth. The European governments strongly focus on treating various disorders, leading to increased investments in healthcare systems and rising healthcare expenditures. These factors create favorable conditions for adopting and using inhalation anesthesia. In addition, Europe is known for its well-established healthcare infrastructure, which supports the implementation of advanced medical procedures, including inhalation anesthesia. The presence of advanced hospitals and skilled healthcare professionals ensures the safe and effective administration of Anaesthesia during surgeries and other medical interventions.

Key Highlights

  • Based on products, the global inhalation Anaesthesia market is bifurcated into sevoflurane, desflurane, isoflurane, and nitrous oxide. The sevoflurane segment dominates the global market and is estimated to grow at a CAGR of 3.5% over the forecast period.
  • Based on applications, the global inhalation Anaesthesia market is bifurcated into induction and maintenance. The induction segment owns the highest market share and is estimated to grow at a CAGR of 3.8% over the forecast period.
  • North America is the most significant global inhalation Anaesthesia market shareholder and is estimated to grow at a CAGR of 5.89% over the forecast period.

Competitive Players

The key players in the global inhalation Anaesthesia market are AbbVie Inc., Baxter International Inc., Fresenius SE & Co. KGaA., Halocarbon Products Corporation, Hikma Pharmaceuticals PLC., Jiangsu Hengrui Medicine Co., Ltd., Lunan Pharmaceutical Group Co. Ltd, Novartis AG, Piramal Enterprises Ltd, and Troikaa Pharmaceuticals Ltd .

Market News

  • In March 2023, Pfizer announced the launch of its new Sevoflurane Invenio delivery system. The system is designed to provide a more consistent and reliable delivery of sevoflurane, a commonly used inhalation anesthetic.
  • In February 2023, Baxter announced the launch of its new Isoflurane Avance delivery system. The system is designed to provide a more consistent and reliable delivery of isoflurane, a commonly used inhalation anesthetic.

Global Inhalation Anaesthesia Market: Segmentation

By Product

  • Sevoflurane
  • Desflurane
  • Isoflurane
  • Nitrous Oxide

By Applications

  • Induction
  • Maintenance

By End-Users

  • Hospitals
  • Ambulatory Surgical Centers

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

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About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

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