The Inhalation Anesthesia Market size is expected to reach USD 1.5 Billion by 2032 at 8.3% CAGR during the forecast period 2023-2032.
Inhalational anesthetics are used for the induction and maintenance of general anesthesia as well as sedation. They are usually preferred for maintenance because they allow more precise control of the anesthetic state and do so at low cost.
The increasing geriatric population is one of the key factors driving the inhalation anesthesia market as they are highly prone to degenerative diseases and chronic illnesses, which eventually leads to a rise in surgeries and therapeutics. According to WHO, it is estimated that the world’s population aged 60 years and older are likely to double from 12% to 22% by 2050.
Various other factors such as the rise in surgical procedures, rising prevalence of cardiovascular and respiratory system-related diseases along with technological advancements, and a rise in regulatory approvals drive the growth of the market.
However, the increasing concern about greenhouse gas emissions will hamper market growth over the forecast period.
The global inhalation anesthesia market is segmented based on product, application, and region.
The global market for inhalation anesthesia, by product, is segmented into sevoflurane, isoflurane, and desflurane.
Based on application, the market is segmented into induction and maintenance.
In the current scope of the study, the segments mentioned above are covered into the four global regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East and African region.
The market of inhalation anesthesia in the America has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European market of inhalation anesthesia has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The market of inhalation anesthesia in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market of inhalation anesthesia in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Global Inhalation Anesthesia Market Share (%), by Region
Sources: MRFR Analysis
The Americas dominated the global market for inhalation anesthesia owing to the rising geriatric population within the region. As per the data suggested by the United Census Bureau, by 2060, the US is projected to grow by 79 million people, from about 326 million today to 404 million. The population is projected to cross the 400-million threshold in 2058. Additionally, according to the WHO, in the US, more than 20% of the total population is likely to be aged 65 years or over by 2030. Moreover, rising cases of surgical procedures along with the participation of market players are also strongly impacting the growth of the Americas inhalation anesthesia market. For instance, according to the American Society for Aesthetic Plastic Surgery, around 1, 542, 67 surgical cosmetic procedures were conducted in 2017. Similarly, according to the Center for Diseases Control and Prevention, approximately 46.5 million surgical procedures are performed every year in the US.
In 2018, it was estimated that Europe stood second in the global market of inhalation anesthesia. Technological advancements, along with the availability of funding opportunities in research and innovation, will support market growth.
Asia-Pacific (APAC) is expected to represent the phenomenal market growth throughout the forecast period due to rising prevalence of chronic conditions, growing awareness about medications, and increasing healthcare expenditure. During 2016-2017, Australia spent nearly USD 181 billion on health, which is more than USD 7,400 per person and 10% of overall economic activity.
On the other hand, the Middle East and Africa held the least share in the global inhalation anesthesia market due to the low economic development, especially within the African region.
Key Players
Intended Audience
| Report Attribute/Metric | Details |
| Market Size | USD 1.5 Billion |
| CAGR | 8.3% |
| Base Year | 2021 |
| Forecast Period | 2023-2032 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Halocarbon Products Corporation, Baxter, Hikima Pharmaceuticals plc., Lunan Pharmaceutical Group Co. Ltd, Piramal Enterprises Limited, Jiangsu Hengrui Medicine Co. Ltd, Fresenius Kabi AG, AbbVie Inc. |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | · The increasing geriatric population. · The Increasing concern about greenhouse gas emissions will hamper |
Inhalation Anesthesia Market Highlights:
Frequently Asked Questions (FAQ) :
The inhalation anesthesia market in 2032 was USD 1.5 Billion.
The inhalation anesthesia market would grow with a CAGR of 8.3% CAGR during the forecast period.
The concern regarding increasing greenhouse gas emissions can deter the inhalation anesthesia market growth rate.
The US will lead the American inhalation anesthesia market.
The Asia Pacific inhalation anesthesia market would be the fastest-growing region.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
