Market Challenges And Opportunities

Global Anesthesia Gases Market Drivers:

Rise in burden of chronic diseases to boost market growth

One of the key factors expected to augment the growth of the global anesthesia gases market during the forecast period is the increase in prevalence of chronic diseases worldwide. With the increasing burden of chronic diseases, the number of surgical procedures is also increasing, thereby increasing the demand for anesthesia gases. According to the U.S. Centers for Disease Control and Prevention (CDC), six in ten Americans live with at least one chronic disease, such as heart disease and stroke, cancer, or diabetes. These and other chronic diseases are the leading causes of death and disability in the U.S., and they are also a leading driver of health care costs.

Growing geriatric population to underpin market growth

Another factor which is driving the growth of the global anesthesia gases market is the increase in geriatric (aging) population around the world. For instance, elderly population tends to have more critical diseases, and thus, face an increased risk of perioperative morbidity and require continuous monitoring. According to the World Health Organization (WHO), one in six people in the world will be aged 60 years and older by 2030, and the world's population of people aged 60 years and older will double (2.1 billion) by 2050. This in turn is expected to increase demand for anesthesia gases, driving the growth of the global anesthesia gases market.

Global Anesthesia Gases Market Opportunities:

Increase in demand for anesthesia gases across the globe is expected to provide significant growth opportunities for players in the anesthesia gases market. For instance, with the increase in number of emergency cases worldwide, demand for anesthesia gases is also increasing rapidly. In January 2019, Sandoz, a Novartis division, launched Desflurane, Liquid for Inhalation, the first generic of Suprane in the United States, as an inhalation agent for induction and maintenance of anesthesia for inpatient and outpatient surgery in adults, and for maintenance of anesthesia for both inpatient and outpatient surgery in pediatric patients.

Increase in number of surgical procedures is expected to offer significant growth opportunities for players in the anesthesia gases market. For instance, as per the National Center for Biotechnology Information (NCBI) data, around 310 million major surgeries are performed across the world every year, out of which around 40-50 million are performed in the U.S. and 20 million in Europe. The increasing number of emergency cases and increasing geriatric population have created a demand for surgeries. Which in turn has increased the demand for anesthesia gases, driving the growth of the global anesthesia gases market.

Global Anesthesia Gases Market Restraints:

Side effects of anesthesia gases to hinder market growth

One of the key factors expected to hamper the growth of the global anesthesia gases market is the side effects of anesthesia gases. The common side effects of anesthesia gases include temporary confusion and memory loss (more common in the elderly population), dizziness, nausea, vomiting, shivering, difficulty in urinating, and sore throat due to the breathing tube, among others. However, side effects differ based on substance. Inhalation anesthesia drugs currently available in the market may have many side effects upon consumption.

Rise in generic anesthesia usage to hamper the market growth

Another factor which is hampering the growth of the global anesthesia gases market is the increase in usage of generic anesthesia. Desflurane is a general inhalation anesthetic used for inpatient and outpatient surgeries in adults. Desflurane is the only available generic anesthesia, and the cost of generic desflurane is much less. Therefore, with the emergence of generic anesthetics, the use of generic anesthesia is also increasing. This in turn is expected to restrain the growth of the global anesthesia gases market during the forecast period.

Figure 2. Global Anesthesia Gases Market Share (%), by Product Type, 2022