The Global Inhalation Anesthesia Market size is expected to reach $1.9 billion by 2028, rising at a market growth of 8.7% CAGR during the forecast period.
In the operating room, inhalation anesthetics (nitrous oxide, halothane, isoflurane, desflurane, and sevoflurane, the most commonly used agents in practice today) are used to induce and maintain general anesthesia. Inhalation anesthetics are drugs used to give general anesthesia for surgery in the operating room.
According to NCBI data, approximately 310 million major procedures are performed worldwide each year, including about 40-50 million in the United States and 20 million in Europe. Following COVID-19, there has been a rise in the number of elective procedures, which has increased the demand for inhalation anesthetics even more. During the COVID-19 pandemic in 2020, the Centers for Medicare and Medicaid Services suggested that hospitals reduce, postpone, or cancel elective procedures, which resulted in a 48 percent decline in surgeries in the United States.
To provide general anesthesia, inhaled anesthetics are routinely employed. According to the National Institutes of Health, almost 60,000 people have surgery while under general anesthesia. Without general anesthesia, life-saving medical procedures such as open-heart surgery, brain surgery, or organ transplantation is expected to not have been possible, driving up the demand for inhaled anesthetic medications.
Inhaled anesthetics help patients save money on their overall healthcare costs. Patients who have had surgery and are critically unwell are typically admitted to intensive care units (ICUs), which raise their healthcare costs due to the length of their hospital stays. Inhalation anesthetic aids surgeons in formulating dosages in order to avoid an extra hospital stay. This is not the case with intravenous anesthetic, which helps patients save money on their overall healthcare costs.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novartis AG, Piramal Enterprises Limited, Hikma Pharmaceuticals PLC, Fresenius SE & Co. KGaA, Baxter International, Inc., AbbVie, Inc., Halocarbon Products Corporation, Jiangsu Hengrui Pharmaceuticals Co., Ltd., Lunan Pharmaceutical Group Co., Ltd., and Troikaa Pharmaceuticals Limited.
By Drug
In the operating room, inhalation anesthetics (nitrous oxide, halothane, isoflurane, desflurane, and sevoflurane, the most commonly used agents in practice today) are used to induce and maintain general anesthesia. Inhalation anesthetics are drugs used to give general anesthesia for surgery in the operating room.
According to NCBI data, approximately 310 million major procedures are performed worldwide each year, including about 40-50 million in the United States and 20 million in Europe. Following COVID-19, there has been a rise in the number of elective procedures, which has increased the demand for inhalation anesthetics even more. During the COVID-19 pandemic in 2020, the Centers for Medicare and Medicaid Services suggested that hospitals reduce, postpone, or cancel elective procedures, which resulted in a 48 percent decline in surgeries in the United States.
To provide general anesthesia, inhaled anesthetics are routinely employed. According to the National Institutes of Health, almost 60,000 people have surgery while under general anesthesia. Without general anesthesia, life-saving medical procedures such as open-heart surgery, brain surgery, or organ transplantation is expected to not have been possible, driving up the demand for inhaled anesthetic medications.
Inhaled anesthetics help patients save money on their overall healthcare costs. Patients who have had surgery and are critically unwell are typically admitted to intensive care units (ICUs), which raise their healthcare costs due to the length of their hospital stays. Inhalation anesthetic aids surgeons in formulating dosages in order to avoid an extra hospital stay. This is not the case with intravenous anesthetic, which helps patients save money on their overall healthcare costs.
COVID-19 Impact Analysis
The COVID-19 pandemic put international hospitals and healthcare facilities under severe financial strain. For instance, the American Hospital Association forecasts that hospitals and healthcare systems in the United States will lose $202.6 billion in income, or $50.7 billion every month. Furthermore, providing an effective healthcare response to COVID-19 might cost low- and middle-income countries US$52 billion (equal to US$8.60 per person) every four weeks. In the context of the United States' greatest daily COVID-19 new cases, this load will have an impact on patient care, surgeries, and surgical results. World economic growth is expected to slow by over 8% this year, with poorer countries bearing the brunt of the damage, according to the World Bank.Market Growth Factors
Growing Number of Surgeries
The inhalation anesthesia market is growing due to an increase in the number of emergency cases and road accidents, as well as an increase in the prevalence of various disorders such as cancer, respiratory diseases, and gastrointestinal disorders, as well as an increase in the number of surgical procedures and increased use of these in disease diagnosis. In addition, the global incidence of chronic diseases such as cancer, infectious diseases, and genetic abnormalities is increasing. Cancer is one of the main causes of morbidity and mortality worldwide, according to the WHO, with nearly 10 million deaths projected in 2020 alone, and this number is expected to rise over the next two decades. The majority of infections known to be caused by cancer strains occur in low- and middle-income nations.Increase in Health Care Expenditure by Developing Countries
Health spending is expanding at a higher rate than the rest of the global economy, accounting for 10% of global GDP (GDP). The World Health Organization (WHO) has released a new report on global health expenditures that shows a rapidly rising trend, notably in low- and middle-income nations, where health spending is expanding at a rate of 6% annually on average, compared to 4% in high-income countries. Health spending is made up of government expenditure, out-of-pocket payments (people paying for their own care), and sources such as voluntary health insurance, employer-provided health programs, and activities by non-governmental organizations.Market Restraining Factors
No Pharmacological Treatment for Inhaled Anesthetic Overdose
It's worth noting that there is no pharmacological treatment for inhaled anesthetic overdose. The primary treatment strategy in an overdose occurrence is supportive, with adequate ventilator settings and alveolar clearance. Inhaled agents can cause a variety of rare acute and chronic toxicities. Carbon monoxide poisoning (CO2), nephrotoxicity, and hepatotoxicity are examples of acute toxicities. Hematotoxicity, teratogenic consequences and carcinogenic toxicities are examples of chronic toxicities. Diffusion hypoxia can be caused by the dosage of Nitrous Oxide used in regular anesthesia. Nitrous oxide displaces air and oxygen from the alveoli when it exits the bloodstream and enters the lungs.Drug Outlook
Based on Drug, the market is segmented into Sevoflurane, Desflurane, Isoflurane, and Others. The isoflurane segment procured a significant revenue share in the inhalation anesthesia market in 2021. Sevoflurane and desflurane are two to three times more expensive than isoflurane when fresh gas flow rates are taken into account. As a result of the availability of a cost-sensitive patient pool, anesthesiologists in underdeveloped nations choose isoflurane for inhalation general anesthesia.
Application Outlook
Based on Application, the market is segmented into Maintenance and Induction. The maintenance segment acquired the largest revenue share in the inhalation anesthesia market in 2021. Since inhaled anesthetics are widely preferred for anesthesia maintenance, the maintenance sector had the biggest market share in 2021. They provide more accurate control of the anesthetic state at a lower cost.Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the largest revenue share in the anesthesia market in 2021. Due to an increase in the number of procedures conducted in the United States, North America dominated the market in 2021. Significant market income has also been obtained by key businesses in the country. In the United States, Piramal Enterprises Limited, a major participant in inhalation anesthesia, has the greatest market share of sevoflurane and isoflurane.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novartis AG, Piramal Enterprises Limited, Hikma Pharmaceuticals PLC, Fresenius SE & Co. KGaA, Baxter International, Inc., AbbVie, Inc., Halocarbon Products Corporation, Jiangsu Hengrui Pharmaceuticals Co., Ltd., Lunan Pharmaceutical Group Co., Ltd., and Troikaa Pharmaceuticals Limited.
Scope of the Study
Market Segments Covered in the Report:
By Drug
- Sevoflurane
- Desflurane
- Isoflurane
- Others
- Maintenance
- Induction
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Novartis AG
- Piramal Enterprises Limited
- Hikma Pharmaceuticals PLC
- Fresenius SE & Co. KGaA
- Baxter International, Inc.
- AbbVie, Inc.
- Halocarbon Products Corporation
- Jiangsu Hengrui Pharmaceuticals Co., Ltd.
- Lunan Pharmaceutical Group Co., Ltd.
- Troikaa Pharmaceuticals Limited
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Global Inhalation Anesthesia Market by Drug
Chapter 4. Global Inhalation Anesthesia Market by Application
Chapter 5. Global Inhalation Anesthesia Market by Region
Chapter 6. Company Profiles
Companies Mentioned
- Novartis AG
- Piramal Enterprises Limited
- Hikma Pharmaceuticals PLC
- Fresenius SE & Co. KGaA
- Baxter International, Inc.
- AbbVie, Inc.
- Halocarbon Products Corporation
- Jiangsu Hengrui Pharmaceuticals Co., Ltd.
- Lunan Pharmaceutical Group Co., Ltd.
- Troikaa Pharmaceuticals Limited
Methodology
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