Press release
Global Inhalation Anaesthesia Market Size To Grow At A CAGR Of 9.40% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Inhalation Anaesthesia Market Size, Share, Price, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 1.14 billion
• Forecast CAGR (2023-2028): 9.40%
The increasing number of surgeries, owing to the escalating cases of chronic orthopaedic, musculoskeletal, and cardiovascular diseases, among others, is driving the demand for inhalation anaesthesia. Additionally, inhalation anaesthesia is minimally invasive and eradicates the issues of dose calculation. The rising healthcare expenditure, growing health consciousness, and rising disposable income in the urban and semi-urban areas are fuelling the standards of healthcare facilities leading to a heightened demand for inhalation anaesthesia.
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Meanwhile, the growing demand for sevoflurane, due to its fast action, enhanced recovery, and greater response, is adding to the growth of inhalation anaesthesia market. In addition, sevoflurane catalyses the impact of muscle relaxants and narcotics, leading to a greater comfort of the patients. Over the forecast period, the anticipated increase in the cases of plastic and cosmetic surgery is expected to propel the growth of inhalation anaesthesia market. Moreover, inhalation anaesthesia is also witnessing a heightened application in the cases of acute injuries and accidents.
The increasing geriatric population and associated neurological, orthopaedic, and oncological disorders are expected to fuel the demand for inhalation anaesthesia in the coming years. Favourable reimbursement policies offered by governments of emerging economies are further escalating the hospitalisation rates.
Inhalation Anaesthesia Industry Definition and Major Segments
Inhalation anaesthesia is defined as a process in which anaesthesia is provided to patients through their breathing, either through a tracheal tube or a face mask, with drugs such as sevoflurane and isoflurane, among others. In this process, a patient partially losses sensation which allows the patient to undergo procedures comfortably.
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Based on drug type, the market can be segmented into:
• Sevoflurane
• Desflurane
• Isoflurane
• Halothane
On the basis of application, the market can be bifurcated into:
• Induction
• Maintenance
Based on region, the market can be categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Inhalation Anaesthesia Market Trends
The key trends in the global inhalation anaesthesia market include the growing mergers, acquisitions, and research activities being carried out by major medical companies aimed towards improving anaesthetic medications to bolster the patient comfort. The increasing inclination towards minimally invasive treatment procedures and pleasant anaesthetic options are accelerating the incorporation of inhalation anesthesia in healthcare units.
Increasing application of inhalation anaesthesia in veterinary hospitals is another crucial trend in the market. The rising pet hospitalisation rates, induced by chronic conditions and severe injuries among cats and dogs, is accelerating the inhalation anaesthesia market.
Progressive product launches and favourable regulations by various governments leading to heightened regulatory approvals are further expanding the opportunities for the market for inhalation anaesthesia. Furthermore, the market is expected to be positively impacted by the increasing awareness pertaining to the available options to reduce operational pain.
In regional terms, North America holds a significant share in the market. The increasing prevalence of cancer and lifestyle issues is augmenting the demand for inhalation anaesthesia. Expenditure on healthcare services is also high across this region. Meanwhile, Asia Pacific is expected to witness a steady growth in the forecast period, due to the rising geriatric population across developing countries like Japan and China.
Key Market Players
The major players in the inhalation anaesthesia market report are:
• Halocarbon Life Sciences, LLC.
• Baxter International Inc
• AbbVie Inc.
• Sandoz AG
• Piramal Enterprises Ltd.
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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