Inhalation Anesthesia Market size to exceed USD 1.9 Bn by 2025
Published Date: July 8, 2019 Authors: Sumant Ugalmugle
Inhalation Anesthesia Market size is set to exceed USD 1.9 billion by 2025; according to a new research report by Global Market Insights, Inc. Also, the number of 250 ml bottles sold accounted for around 11,000 units in 2018 and is poised to grow substantially over the forecast period.
Rising adoption of inhalation anesthetics for induction and maintenance of general anesthesia during surgical procedures will foster industry growth. Companies such as Abbott, Mylan and Piramal among others are focusing on product innovation and enhancement for corrective patient management. For instance, Piramal has a wide product portfolio including anesthetics such as desflurane, sevoflurane, halothane and isoflurane, with its presence across the globe. Surge in demand for such products will accelerate inhalation anesthesia business growth.
Increasing number of surgical procedures in developed as well as developing countries will render positive impact on the inhalation anesthesia industry growth. Moreover, favorable reimbursement policies for various surgical procedures will increase the number of surgeries being performed thereby augmenting industry growth. However, side effects associated with anesthetic agents may restrict inhalation anesthesia market growth during the analysis timeframe.
Sevoflurane segment was valued more than 950 million in 2018 and will witness tremendous growth over the analysis timeframe. Sevoflurane is widely adopted agent for inhalational inductions due to its pleasant property to inhale. Additionally, sevoflurane is suitable in pediatrics for induction as well as maintenance. Benefits offered by sevoflurane including intrinsic stability, low flammability, non-pungent odor, nominal cardiovascular and respiratory side effects will further foster segmental growth.
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Browse key industry insights spread across 170 pages with 156 market data tables & 8 figures & charts from the report, “Inhalation Anesthesia Market Size By Product (Sevoflurane, Desflurane, Isoflurane), By Application (Induction, Maintenance), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Inhalation anesthesia market from maintenance segment accounted for more than 80% revenue share in 2018 and will show momentous growth by 2025. Advantages such as fast recovery offered by inhalation anesthesia as compared to injectables and safety of airway will accelerate the segmental growth. Higher requirement of volume for maintenance and recovery from anesthesia will further propel business growth during the forecast period.
Ambulatory surgical centers segment was valued around 500 million in 2018 and is projected to experience profitable growth over the coming years. Benefits associated with ambulatory surgical procedures including minimally invasive surgeries at affordable costs, reduced hospital stay, and quality treatment will positively impact the segment growth. ASCs are exponentially becoming the choice for patients and physicians due to their ability to perform complex surgeries in limited time span, thereby augmenting segmental growth.
North America inhalation anesthesia market was valued more than USD 440 million in 2018 and is estimated to witness similar trend over the forthcoming years. Regional growth is attributed to rising health concerns among the population along with surge in demand for various surgeries. Increasing healthcare spending coupled with well-established healthcare infrastructure for effective patient health management and presence of major industry players in the region should foster North America inhalation anesthesia industry growth.
Some of the notable industry players operating in inhalation anesthesia market include Abbott, Abbvie, Hikma Pharmaceuticals, Baxter International, Mylan, Halocarbon Products, Eisai, Piramal, Lunan Pharmaceutical, Jiangsu Hengrui Medicine and Fresenius Kabi. Market players are undertaking various initiatives such as novel product launch, merger and partnership to sustain market competition. For instance, in January 2019, Sandoz, a division of Novartis, launched desflurane, for induction and maintenance of anesthesia for outpatient as well as inpatient surgeries. New product launch will ensure company’s revenue growth. Moreover, in January 2017, Piramal acquired Mallinckrodt to expand its business portfolio. This acquisition led to expansion of company’s addressable market and increased market share.
Inhalation anesthesia market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Inhalation Anesthesia Market By Product, 2014-2025 (USD Million)
Inhalation Anesthesia Market By Application, 2014-2025 (USD Million)
Inhalation Anesthesia Market By End-use, 2014-2025 (USD Million)
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East Asia & Africa
- Saudi Arabia
- South Africa