Inhalation Anesthesia Market to hit $1.6Bn by 2024| Key Players: Baxter International Inc., Hikma Pharmaceuticals, Mylan, Eisai US, Halocarbon Products Corporation

Global Inhalation Anesthesia Market is set to exceed USD 1.6 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising number of geriatric population coupled with increasing number of chronic diseases such as cancer, cardiovascular, neurological, and respiratory disorders and introduction of advanced anesthesia will offer lucrative growth opportunities for the market growth.

Increasing number of emergency surgeries driving the count of hospital admissions coupled with favorable private and public insurance will drive the inhalation anesthesia market. Growing investment in healthcare infrastructure development in emerging economies and increasing adoption of universal health coverage resulting in demand among public as well as private healthcare setups will propel the business growth.

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The product landscape of inhalation anesthesia market comprises isoflurane, sevoflurane, and desflurane – essential anesthetics used during crucial surgeries. Sevoflurane among these, is renown to have contributed significantly towards inhalation anesthesia industry revenue in 2016. Subject to favorable product features such as low flammability and intrinsic stability, sevoflurane inhalation anesthesia market share is set to witness a commendable expansion over the next few years. Its counterpart – isoflurane is mostly preferred in neurosurgeries due to its ability to potentiate muscle relaxant activity and assist the expansion of systemic vessels.

Considering the rising prevalence of chronic diseases such as cancer across the U.S., in tandem with the high-grade healthcare infrastructure and medical care expenditure of the country, it comes as no surprise that the United States is one of most remunerative avenues for inhalation anesthesia market. Estimates claim that the U.S. dominated the regional market share in 2016, driven by the surging product deployment in plastic surgeries and the growing prevalence of chronic lower respiratory ailments.

Pertaining to the widespread applications of the product, inhalation anesthesia market has successfully established its presence across many other geographies across the globe, apart from the U.S. Europe inhalation anesthesia industry size for instance, impelled by the thriving economies of UK and Germany, is likely to chart out a profitable growth path in the years ahead. UK, in particular, will register a substantial growth rate over 2017-2024, given the rising prevalence of cancer and the rapidly increasing rate of surgical procedures. Germany apparently, accounted for the highest share in the Europe market, driven by the growing geriatric population suffering from chronic ailments. In fact, as per estimates, cancer and cardiovascular disorders account for more than 66% of deaths in the country – a factor which is slated to upsurge the demand for anesthesia in surgeries, inherently propelling Germany inhalation anesthesia market size.

Inhalation anesthesia market, touted to be one of most profitable business spheres of recent times, has its share of restraints, one of principal ones being, the ill-effects of anesthetic products. Pertaining to the same, companies have been brainstorming ways to innovate contemporary products as per the illness and the level of its seriousness in question. In essence, the undertaking of strategic initiatives and the growing R&D funding are expected to successfully complement inhalation anesthesia market outlook in the forthcoming years. If estimates are to be believed, this business vertical is anticipated to generate a target valuation exceeding USD 1.6 billion by 2024.

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Some of the companies operating in market are Abbott, Baxter International, Piramal, Lunan Pharmaceutical, Hikma Pharmaceuticals and Halocarbon Products. Introduction of novel product and growing focus on geographical expansion will propel the industry growth. Key industry players will endeavor to reinforce their position in this competitive market by implementing these strategies.

Market by product

Sevoflurane
Desflurane
Isoflurane

Market by application

Induction
Maintenance

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