Inhalation Anesthesia Market Size, Driving Factors, Growth Statistics, Competitive Landscape And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Inhalation Anesthesia Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The inhalation anesthesia market size has grown strongly in recent years. It will grow from $1.46 billion in 2023 to $1.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to growing surgical procedures requiring anesthesia, increased geriatric population, development of inhalation anesthetics, expansion of ambulatory surgical centers, increasing prevalence of chronic diseases such as heart disease and cancer.

The inhalation anesthesia market size is expected to see strong growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising demand for minimally invasive surgeries, growing global healthcare expenditure, increasing number of surgical procedures in emerging markets, adoption of inhalation anesthesia in veterinary medicine, increased government funds for r&d of innovative inhalation anesthetics. Major trends in the forecast period include technological innovations in anesthesia delivery systems, development of inhalation anesthesia devices for pediatric use, shift towards sevoflurane and desflurane, focus on eco-friendly anesthetic agents, integration of monitoring technologies in anesthesia delivery.

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Market Drivers and Trends:

The increasing geriatric population is anticipated to propel the growth of inhalation anesthesia during the forecast period. The increasing geriatric population is boosting the inhalation anesthesia market as they are highly prone to degenerative diseases and chronic illnesses, which eventually leads to a rise in surgeries and therapeutics. Moreover, the increasing geriatric population, which is more susceptible to ailments, such as cardiovascular, neurological, respiratory, and degenerative disorders, is boosting the market growth. It is usually inconvenient to administer anesthesia through an intravenous route to geriatric patients due to punctured blood vessels and issues with patient compliance. For instance, in October 2022, according to the World Health Organization, a Switzerland-based international public health organization, the global population of individuals aged 60 years is projected to increase to 1.4 billion by 2022 compared to 1 billion in 2020. Moreover, 1 out of 6 people in the world will be aged more than 60 years or older by 2030. Therefore, the increasing geriatric population is expected to boost demand for inhalation anesthesia during the forecast period.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

Abbvie Inc., Baxter International Inc., Fresenius SE & Co. KGaA, Halocarbon Products Corporation, Hikma Pharmaceuticals PLC, B. Braun Melsungen AG, Lunan Pharmaceutical Group Co. Ltd., Maruishi Pharmaceutical Co. Ltd., Mylan N. V., Piramal Enterprises Ltd., Recipharm AB, Sandoz International GmbH, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Wockhardt Ltd., AstraZeneca PLC, C. H. Boehringer Sohn AG & Co. KG, Bristol-Myers Squibb Company, Eisai Co. Ltd., GlaxoSmithKline PLC, Johnson & Johnson Inc., Merck & Co. Inc., Novartis AG, Pfizer Inc., F. Hoffmann-La Roche AG, Sanofi S. A., Takeda Pharmaceutical Company Limited, Teijin Pharma Limited, UCB S. A., Zydus Lifesciences Limited

Inhalation Anesthesia Market 2024 Key Insights:

• The inhalation anesthesia market size is expected to see strong growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• Rising Geriatric Population Driving Growth In The Inhalation Anesthesia Market
• Sedaconda's Global Expansion And Impact On Inhalation Anesthesia
• North America was the largest region in the inhalation anesthesia market in 2023

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