INHALATION ANESTHESIA MARKET ANALYSIS

The global inhalation anesthesia market was valued at US$ 1,276.0 Mn in 2022 and is forecast to reach a value of US$ 1,918.2 Mn by 2030 at a CAGR of 5.3% between 2023 and 2030. The global inhalation anesthesia market is experiencing strong growth due to the increasing prevalence of chronic disease and growing geriatric (aging) population around the world. Moreover, outbreak of COVID-19 (pandemic) and increase in demand for inhalation anesthesia is expected to propel the market growth. However, factors such as side-effects of inhaler anesthesia drugs and increase in demand or adoption of generics are expected to hamper the market growth.

Global Inhalation Anesthesia Market: Regional Insights

Based on geography, the global inhalation anesthesia market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period owing to the increasing number of surgeries, increasing number of emergency incidences and road accidents, and growing geriatric population (susceptible to chronic disease) in the region. Aging is a strong risk factor for many chronic diseases. According to Centers for Disease Control and Prevention (CDC), chronic diseases such as heart disease, cancer, and diabetes are the leading causes of death and disability in the United States. Moreover, 6 in 10 Americans live with at least one chronic disease, such as heart disease and stroke, cancer, or diabetes.

Europe and Asia Pacific are also expected to witness significant growth in the global inhalation anesthesia market due to the rise in burden of chronic disease, growing geriatric population, rise in number of road accidents, and increasing number of surgical procedures in these regions. For instance, according to a repost published by Peertechz Publications, total 18882734 surgeries were carried out during 2019-20 in the public health facilities in India. Of them 4851788 and 14030946 were major and minor surgeries, respectively. Moreover, according to the European Union, around 1.12 million caesarean sections performed in the EU in 2020.

Figure 1. Global Inhalation Anesthesia Market Share (%), by Region, 2023

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Global Inhalation Anesthesia Market Drivers:

Rise in burden of chronic diseases to drive market growth

One of the key factors expected to augment the growth of the global inhalation anesthesia market over the forecast period is the increasing prevalence of chronic disease, such as heart disease and cancer across the world. Such a high burden of chronic diseases leads to an increase in the number of surgeries and is expected to fuel the market growth. According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death across the globe, taking an estimated 17.9 million lives each year, driving the growth of the market.

Growing geriatric population to propel market growth

Another factor which is driving growth of the global inhalation anesthesia market is the growing geriatric (aging) population around the world. For instance, the ageing population tends to have a higher prevalence of chronic diseases. People age 65 and older are more likely than younger people to suffer from chronic disease. According to the World Health Organization (WHO), by 2030, one in six people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion).

Global Inhalation Anesthesia Market Opportunities:

Outbreak of COVID-19 (pandemic) is expected to offer lucrative growth opportunities for players in the global inhalation anesthesia market. For instance, the application of inhalation Anesthesia for the diagnosis and treatment of COVID-19 and associated diseases has positively impacted the market growth. Inhaled agents may provide important pulmonary benefits for COVID-19 patients with ARDS that could improve gas exchange and reduce time spent on a ventilator. Administration of inhalation Anesthesia for sedation during longer-term ventilation with anesthesia machines has also been reported in a few institutions.

Increase in demand or consumption of inhalation anesthesia is expected to offer significant growth opportunities for players in the global inhalation anesthesia market. For instance, with the increase in burden of chronic disease and increasing number of surgical procedures, the demand or the use of inhalation anesthesia is also increasing with the rapid pace. In February 2022, Sedana Medical AB announced the launch of Sedaconda (isoflurane) in Germany. Sedaconda has received national approvals in around 15 countries, and is also expected to receive national approvals in Switzerland, Poland, Italy, and the United Kingdom.

Global Inhalation Anesthesia Market Trends:

Increase in demand for Sevoflurane is a recent trend

Sevoflurane is the most widely used inhalation anesthetic, owing to its therapeutic advantages and low cost. It is useful in children and adults for induction and maintenance of anesthesia in inpatient surgery and outpatient surgery, and is given before surgery to make induction of general anesthesia substantially easier. It is administered without the use of intravenous route and is ideal for people with asthma and sensitized air passages. Thus, there is an increase in demand for Sevoflurane, and this trend is expected to continue over the forecast period.

Introduction of novel products is another trend

Players in the market are focusing on developing and launching novel products to meet increasing demand for inhalation anesthesia worldwide. In January 2019, Sandoz International announced the launch of Desflurane liquid as an inhalation agent for the induction and maintenance of anesthesia, required for inpatient and outpatient surgery in adults and pediatric patients in the U.S. It was the first generic of Suprane in the U.S. This trend is also expected to continue over the forecast period, driving the growth of the global inhalation anesthesia market.

Global Inhalation Anesthesia Market Restraints:

Side-effects of Anesthesia to hinder market growth

One of the key factors expected to hamper growth of the global inhalation anesthesia market is the side-effects of inhaler anesthesia drugs. For instance, inhalation anesthetics have a diverse range of clinically significant effects on several organs, both beneficial and potentially adverse. Adverse or side-effects of inhalation anesthetics include neurotoxicity, nephrotoxicity, cardiac arrhythmias, hepatotoxicity, respiratory depression, irritation, postanesthesia agitation, malignant hyperthermia, and postoperative nausea and vomiting, among others.

Rise in adoption of generics to hamper market growth

Another factor which is hampering the growth of the global inhalation anesthesia market is the rise in demand or adoption of generic inhalation anesthetic drugs. Some players in market are focusing on launching generic inhalation anesthetic drugs in the market, but the launch of generic inhalation anesthetic drugs may decrease the use or demand of patented inhalation anesthetics. Moreover, the use or demand of generic drugs is increasing as they are cheaper compared to the patented drugs. This in turn is also expected to hinder growth of the market.

Figure 2. Global Inhalation Anesthesia Market Share (%), by Product, 2023

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Global Inhalation Anesthesia Market Segmentation:

The global inhalation anesthesia market report is segmented into Product, Application, End User, and Geography.

Based on Product, the market is segmented into Sevoflurane, Desflurane, Isoflurane, and Nitrous Oxide. Of which, Sevoflurane Segment is expected to dominate the inhalation anesthesia market over the forecast period and this is attributed to the increasing number of surgeries. Sevoflurane is often used for the induction and maintenance of anaesthesia in children for surgery.

Desflurane Segment is also expected to witness significant growth in the near future and this is owing to the increase in demand for desflurane. The FDA-approved indications for desflurane are induction or maintenance of anesthesia in adults.

Based on Application, the market is segmented into Induction and Maintenance. Out of which, Induction Segment is expected to dominate the market over the forecast period and is attributed to the increase in demand for inhalation anesthetic drugs.

Maintenance Segment is also expected to witness significant growth in the near future and this is owing to increase in demand for inhalation anesthetics.

Based on End User, the market is segmented into Hospitals and Ambulatory Surgical Centers. Out of which, Hospitals Segment is expected to dominate the market over the forecast period and this is attributed to the rise in burden of chronic disease and growing geriatric population.

Ambulatory Surgical Centers Segment is also expected to witness significant growth in the near future and this is owing to increasing number of surgical procedures worldwide.

Global Inhalation Anesthesia Market: Key Developments

In August 2022, Piramal Critical Care launched the first to market Generic Zinc Sulfate Injection in the U.S. This product is U.S. Food and Drug Administration approved with Competitive Generic Therapy (CGT) designation; to enhance market competition for sole source drugs.

In January 2022, Dechra acquired Isoflurane and sevoflurane inhalant anesthetic products from Halocarbon Life Sciences. The 2 inhalation anesthesia solutions are used in both human and animal medicine. Dechra also planned to launch veterinary branded Isoflurane and Sevoflurane.

In June 2020, Piramal Critical Care signed a strategic partnership with US-based pharmaceutical outsourcing facility, Medivant Healthcare, to help address the severe shortage of injectable drugs in hospitals across the United States.

In April 2020, Blue-Zone Technologies Ltd. received a Drug Identification Number (DIN) from Health Canada for DESFLURANE, USP, an important drug used for general anesthesia. The DIN allows Blue-Zone to manufacture and market its branded generic medicine.

Global Inhalation Anesthesia Market: Key Companies Insights

The global inhalation anesthesia market is highly competitive. This is attributed to the increasing prevalence of chronic disease and growing geriatric population, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global inhalation anesthesia market are Abbvie Inc., Novartis AG, Piramal Enterprises Ltd., Hikma Pharmaceuticals Plc, Fresenius SE & CO. KGaA, Baxter International Inc., Troikaa Pharmaceuticals, Ltd., Halocarbon Products Corporation, Jiangsu Hengrui Medicine Co., Ltd., Lunan Pharmaceutical Group Co. Ltd., among others.

*Definition: Inhalation anesthetics (nitrous oxide, halothane, isoflurane, desflurane, sevoflurane, most commonly used agents in practice today) are used for induction and maintenance of general anesthesia in the operating room.