An inhalation anesthetic is a chemical compound possessing general anesthetic properties that can be delivered via inhalation. Inhalation anesthesia are used for both the induction and maintenance of general anesthesia in the operating room. Inhaled anesthesia are preferred for maintenance of anesthesia because they allow a more precise control of the anesthetic state and do so at low cost. The most common inhalational anesthesia are sevoflurane, desflurane, and nitrous oxide. Of these, sevoflurane is the most common due to its rapid onset of action and quick patient recovery. Thus, there an increasing demand for inhalation anesthesia worldwide.
Market Statistics:
The Global Inhalation Anesthesia Market is estimated to account for US$ 1,338.2 Mn in terms of value by the end of 2023.
Drivers:
Increasing number of surgical procedures around the world is expected to propel the growth of the global inhalation anesthesia market during the forecast period. For instance, inhalation anesthetic agents are medications primarily used in operating room to provide general anesthesia for surgery. Thus, with the increasing number surgical procedures, the use or demand for inhalation anesthetic drugs is also increasing rapidly. According to the National Center for Biotechnology Information (NCBI), more than 310 million major surgeries are performed across the world every year, out of which approximately 40 to 50 million are performed in the U.S. and 20 million in Europe. This in turn is driving the growth of the global inhalation anesthesia market.
Opportunities:
Rise in burden of chronic disease and growing geriatric population across the globe is expected to provide significant growth opportunities for players in the global inhalation anesthesia market. For instance, the ageing population tends to have a higher prevalence of chronic diseases. Individuals age 65 and older are more likely than younger people to suffer from chronic diseases. Thus, with the rise in burden of chronic disease and growing geriatric population, the demand for inhalation anesthetic drugs is also increasing rapidly. According to the National Council on Aging (NCOA), in the United States, around 80% of adults 65 and older have at least one chronic condition, while 68% have two or more. This in turn is driving the market growth.
Restraints:
Side-effects of inhalation anesthesia and rise in demand/adoption of generic inhalation anesthetic drugs are major factors expected to hamper growth of the global inhalation anesthesia market. For instance, inhalation anesthesia have a range of clinically significant effects on several organs, both beneficial and potentially adverse. Neurotoxicity, nephrotoxicity, cardiac arrhythmias, respiratory depression, irritation, postanesthesia agitation, malignant hyperthermia, hepatotoxicity, vomiting, and postoperative nausea are some adverse effects or side-effects of inhalation anesthesia.
Moreover, the use or demand of generic drugs is increasing as they are cheaper than the patented drugs, which hinders the demand for inhalation anesthesia.
Inhalation Anesthesia Market- Impact of Coronavirus (Covid-19) Pandemic:
Application of inhalation anesthesia for the diagnosis and treatment of COVID-19 and associated diseases has positively impacted the growth of the market. Inhaled agents may provide important pulmonary benefits for COVID-19 patients with ARDS that could improve the gas exchange and reduce time spent on a ventilator. Administration of inhalation anesthetic drugs for sedation during longer-term ventilation with anesthesia machines has also been reported in a few institutions.
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https://www.coherentmarketinsights.com/market-insight/inhalation-anesthesia-market-2377
Key Takeaways:
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.
Among product, Sevoflurane segment held dominant position in the global inhalation anesthesia market in 2023, accounting for 56.1% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
Frequent approvals and launches of novel products is one of the key trends expected to boost the growth of the global inhalation anesthesia market. Players in the market are focusing on developing and launching novel products in the market to meet increasing demand worldwide. For instance, in April 2020, Blue-Zone Technologies Ltd. received drug approval from the Health Canada for its branded generic Desflurane, USP. It was earlier granted Health Canada’s Drug Establishment License to manufacture, package, label, and distribute anesthesia. Now, with the approved DIN, Blue-Zone can sell DESFLURANE, USP directly to hospitals.
Competitive Landscape:
Major players operating in the global inhalation anesthesia market include 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.
Recent Developments:
In February 2022, Sedana Medical AB launched Sedaconda (isoflurane). The product has received national approvals in 15 countries, and is expected to receive national approvals in Italy, Poland, Switzerland, and the United Kingdom.
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.
In April 2020, Hikma Pharmaceuticals Plc. launched Vecuronium Bromide for Injection, 10mg, as an adjunct to general anesthesia to help with endotracheal intubation and relax skeletal muscles during surgery or mechanical ventilation.
