Global Inhalation Anesthesia Market size contributed $1.24 billion for 2015 with CAGR predicted to be about 3.6% during forecast timeframe. Rapid increase in aging population, growing occurrences of chronic ailments like cancer, heart ailment, respiratory ailment and rising emergency methods are main factors that are projected to drive global industry trends.
U.S. Sevoflurane Market Size, by Application, 2012 – 2024 (USD Million)
Old age population is more prone to suffer from ailments like respiratory ailment, neurological disease, cancer and cardiovascular ailment. Increase in amount of surgical operations along with private and public insurance will boost inhalation anesthesia industry growth.
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Global inhalation anesthesia industry is segmented into products like isoflurane, sevoflurane and desflurane. Sevoflurane segment contributed maximum to global inhalation anesthesia market share for 2015. Growth of the segment can be credited to measurable benefits over other medicines. Also patient recovery after the drug induction is quicker as compared to other anesthetics. Further, the this product is more in demand owing to its properties like low route irritability and less pungency.
Desflurane segment contributed more than $281 million for 2015 and predicted to register CAGR of about 2.31% during forecast period. Exceptional features like reasonable potency and high level of volatility required by vaporizers are predicted to add towards revenue expansion during forecast timeline.
Global inhalation anesthesia market is segmented into geographical locations like MEA, North America, Latin America, APAC and Europe. U.S. inhalation anesthesia industry contributed more than 80.1% to North America inhalation anesthesia market share for 2015. Growth of the region is primarily credited to high occurrence of chronic ailments, ambulatory services and favorable compensation policies. Additional factors contributing to industry growth are growing occurrence of ailments requiring surgeries and availability of best healthcare amenities along with advanced healthcare setup.
UK inhalation anesthesia industry size was greater than $67 million for 2015 and is predicted to expand at 2.71% during forecast timeline. Growing amount of respiratory surgeries and increasing proportion of angioplasty are the factors predicted to contribute towards regional industry expansion. Germany contributed maximum revenue share of Europe inhalation anesthesia market for 2015. Heart revascularization and transluminal coronary angioplasty are key revenue producing factors in Germany.
APAC inhalation anesthesia industry share is predicted to expand at more than 4.7% during forecast timeline. China contributed greater than 30.1% to total regional revenue for 2015 owing to increase in old age population and growing occurrence of ailments.
India inhalation anesthesia market price was greater than $29 million for 2015 and is predicted to record CAGR of more than 5.3% during forecast timeframe. Reasons for the industry growth being large proportion of cardiac patient population and rise in proportion of surgical operations taking place in the country.
Key industry participants profiled in the report include Piramal Healthcare, Anesthesia Gas Reclamation LLC, Eisai Company Limited, AstraZeneca plc, Mylan N.V., Baxter International Incorporation, Hospira Incorporation, AbbVie, Hikma Pharmaceuticals PLC, Fresenius Se & Co. KGaA, Lunan Pharmaceuticals and Par Pharmaceutical Companies Incorporation.
Key industry players enter into strategic partnerships with other local firms to acquire maximum industry share. These players implement key business strategies like product innovation, benchmarking and product differentiation to expand their business and establish industry presence. All these factors also helps the organization to maintain its dominance in business industry.
Written By : Dhananjay Punekar