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Inhalation Anesthesia Market 2020 by industry trends, statistics, key companies growth and regional forecast

Author : Ronak Bora | Published Date : 2020-09-14 

Inhalation Anesthesia Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Inhalation anesthesia market is poised to attain substantial growth in the coming years owing to the increasing number of surgical procedures and prevalence of chronic diseases. Advancements in anesthesia products, surgical techniques and availability of novel drugs are mainly responsible for the progress of day care surgeries. With the emerging demand for surgical products and the widespread application of various equipment, inhalation anesthesia industry has positively established its presence across the globe and will witness positive growth trends over the forecast period.

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The product terrain of inhalation anesthesia market includes Sevoflurane, Desflurane, Xenon, and Isoflurane which are widely used during clinical surgeries. Among these, Sevoflurane is known as general anesthetic and is broadly adopted as an agent for inhalational inductions. Sevoflurane is extensively useful in children and adults for both induction and maintenance purpose, since it exhibits low reactivity with other drugs and minimal cardiovascular and respiratory side effects. In 2018 Sevoflurane segment in inhalation anesthesia market had recorded more than USD 950 million in revenues and is likely to register further growth in upcoming years.

Isoflurane is considered to be one of the most advantageous options for neurosurgical patients due to its ability to reinforce muscle relaxant activity and support the expansion of systemic vessels. Moreover, scarce economic resources and rise in the growth of advanced surgeries due to the ever-surging patient population has massively advanced the concept of minimal invasive surgeries. This has allowed more advanced surgical procedures to be performed on day care basis to ensure safer, faster and cost-effective patient turnover, offering lucrative prospects for global inhalation anesthesia market.

The ever-increasing competition in the healthcare space has led to inhalation anesthesia market players vying with one another to strengthen their presence across this business sphere. Considering the critical significance of the product in question, it goes without saying that product differentiation has emerged as the go-to growth tactic for the players partaking in inhalation anesthesia industry share.

For instance, Galen US Inc., had recently declared its takeover of the exclusive rights to ADASUVE® - basically an orally inhaled form of antipsychotic loxapine, from the California-based Alexza Pharmaceuticals, Inc. Reportedly, the ADASUVE inhalation powder is the first orally inhaled medication that the FDA has granted approval to, for schizophrenia and bipolar I afflicted patients.

The only one of its kind, ADASUVE is likely to brew a revolution in inhalation anesthesia market. The launch of this innovative product has typically challenged the big shots of the inhalation anesthesia industry, prompting them to come up with a unique product portfolio that would challenge the likes of ADASUVE.

Myriad geographies across the globe have been witnessing a substantial rise in their geriatric population in the recent years, which has been touted to be a major driver of inhalation anesthesia market. In the United States alone, the population above 65 has been projected to cross the 98 million benchmark by 2060, while the share of this 65-and-above group in the overall population is expected to rise to almost 24%.

With the robust escalation in the elderly population across the globe, the prevalence of respiratory diseases, chronic obstructive pulmonary disorders (COPD), cataract surgeries, cardiovascular disorders, and neurological diseases has increased on an exponential basis. In consequence, this has created the demand for innovative anesthesia products that would need to be deployed in critical surgical procedures.

The extensive utilization of these devices in hospitals and ambulatory surgical centers is thus, certain to augment inhalation anesthesia market. As per estimates, inhalation anesthesia industry size, driven by the rapidly growing geriatric populace prone to numerous disorders, will accumulate a valuation of close to USD 1.9 billion by 2025.

The United States is one of most remunerative avenues for the growth of inhalation anesthesia market. The predominance of this region can be attributed to a plethora of factors, such as the excellent healthcare infrastructure, increased medical care spending, and most importantly, the rising prevalence of COPD and plastic surgeries.

As per the American Society of Plastic Surgeons (ASPS), close to 16 million minimally-invasive and surgical cosmetic procedures were performed in the U.S. alone, in 2015. Since the last 1.5 decades, it has been reported that plastic surgeries have observed a mammoth rise of 115% in the country.

Driven by the robust prevalence of cosmetic procedures in the region, aided by the fact that the country houses organizations that maintain standards in anesthesiology, U.S. inhalation anesthesia industry share is likely to observe an appreciable growth rate over 2019-2025. The U.S. is a major regional contributor for the North America inhalation anesthesia market, which was worth USD 440 million in 2018.

Inherently characterized by product differentiation strategies, the competitive hierarchy of inhalation anesthesia market is inclusive of Hikma Pharmaceuticals PLC, Lunan Pharmaceutical Group Company Limited, Abbott Laboratories, The Piramal Group, and Baxter International Incorporation – acclaimed biggies that have been striving to come up a range of highly innovative products.

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/inhalation-anesthesia-market

Partial Chapter of the Table of Content 

Chapter 5. Inhalation Anesthesia Market, By Application

5.1. Key segment trends

5.2. Induction

5.2.1. Market size, by region, 2014-2025 (USD Million)

5.3. Maintenance

5.3.1. Market size, by region, 2014-2025 (USD Million)

Chapter 6. Inhalation anesthesia Market, By End-use

6.1. Key segment trends

6.2. Hospitals

6.2.1. Market size, by region, 2014-2025 (USD Million)

6.3. Ambulatory surgical centers

6.3.1. Market size, by region, 2014-2025 (USD Million)

6.4. Others

6.4.1. Market size, by region, 2014-2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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