Inhalation Anesthesia Market to hit $1.54 billion by 2026, Top Prominent Players: Fresenius SE & Co. KGaA., Halocarbon Products Corporation

The significant increase in the prevalence of cancer and surge in road accidents across the globe are the major factors that propel the inhalation anesthesia market growth.

the global inhalation anesthesia industry garnered $1.13 billion in 2018, and is anticipated to reach $1.54 billion by 2026, growing at a CAGR of 4.2% from 2019 to 2026.

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COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

Drivers, restraints, and opportunities

Rise in number of surgeries and increase in severe road accidents have boosted the growth of the global inhalation anesthesia market. However, stringent regulatory scenario hampers the market growth. On the contrary, growth opportunities in the emerging economies would propel the market growth in the coming years.

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Sevoflurane segment dominated the market

Based on product, the sevoflurane segment held the largest share in 2018, accounting for nearly three-fifths of the global inhalation anesthesia market, owing tothe fact that induction of anesthesia with sevoflurane is favorable in neonates compared to isoflurane and desflurane, as it lacks airway irritation.However, the desflurane segment is expected to reach the fastest CAGR of 5.1% during the forecast period. Desflurane is widely used in ambulatory anesthesia as it possesses the properties of an ideal agent that has lower blood gas solubility, resulting in rapid induction and emergence from anesthesia. This property of desflurane is anticipated to contribute to its market growth in the future

Maintenance segment to manifest fastest growth

The maintenance segment is projected to portray the highest CAGR of 4.3% during the study period. Moreover, the segment held the largest share in 2018, accounting for more than four-fifths of the global inhalation anesthesia market. This is due to the fact that inhalational anesthetics are widely and majorly used for the maintenance segment of general anesthesia as well as sedation. The research also analyzes the induction segment.

North America held the lion's share

The global inhalation anesthesia market across North America held the largest share in 2018, contributing to nearly half of the total revenue, due torise in government funds for R&D of novel inhalation anesthesia as well as surge in incidences of cancer.However, the market across Asia-Pacific is expected to manifest the highest CAGR of 6.0% during the forecast period, owing to increase in disorders such as cancer and respiratory that often need surgery.

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The Major Key Players Are:

AbbVie Inc., Baxter International Inc., Fresenius SE & Co. KGaA., Halocarbon Products Corporation, Hikma Pharmaceuticals PLC., Jiangsu Hengrui Medicine Co., Ltd., Lunan Pharmaceutical Group Co. Ltd, Novartis AG, Piramal Enterprises Ltd, and Troikaa Pharmaceuticals Ltd

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