The global inhalation anesthesia market size is projected to reach USD 1.42 billion by 2025, at a lucrative CAGR of 3.5% over the forecast period, according to a new report by Grand View Research, Inc. Key factors contributing to its rapid growth include increasing prevalence of cancer, cardiovascular, respiratory, neurological, gastrointestinal, orthopedic, and spinal diseases and disorders.
Furthermore, increasing number of emergency cases and demand for short stay ambulatory day care surgical procedure are amongst critical success factors attributed to the market growth. Access to universal health insurance coverage for a wider population base coupled with constant improvements in healthcare infrastructure in various developing countries are expected to positively impact the number of surgeries performed, thus increasing the usage of inhalation anesthetics.
On the basis of product, the inhalation anesthesia market is classified into sevoflurane, isoflurane, and desflurane. These products are used for induction and maintenance of anesthesia for patients during surgical procedures. Sevoflurane led the product segment in 2018 and is anticipated to grow at a lucrative rate over the forecast period, attributed to its therapeutic advantages, low cost, and higher potency for the induction of anesthesia. On the other hand, isoflurane is expected to witness the fastest CAGR of 6.3% over the forecast period, due to its increasing use in maintenance of anesthesia for treatment of weak or geriatric patients owing to its sparing effect on cardiovascular function.
On the basis of regions, the market is broadly classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA). North America held the leading market share of USD 456.0 million and is anticipated to witness lucrative CAGR over the forecast period. This is owing to increasing prevalence of chronic diseases coupled with the presence of advanced healthcare facilities. On the other hand, Asia Pacific was anticipated to witness the fastest CAGR of 4.0% due to increasing population and number of patients suffering from chronic population.
Some of the key players operating in this market include Halocarbon Products Corporation; Baxter; Hikima Pharmaceuticals PLC; Lunan Pharmaceutical Group Co. Ltd.; Piramal Enterprises Limited; Jiangsu Hengrui Medicine Co. Ltd.; Fresenius Kabi AG, and AbbVie Inc.
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Further key findings from the report suggest:
Sevoflurane product segment led the market in terms of revenue, valued at USD 768.6 million, in 2018
Isoflurane product segment is anticipated to expand at the fastest CAGR of 6.3% owing to its increasing use in the treatment of weak and geriatric patients owing to its low effect on cardiovascular function
North America led the market in 2018 with a revenue of USD 456.0 million owing to the presence of advanced healthcare facilities, strong reimbursement scenario, and prevalence of chronic diseases
Key players operating in the inhalation anesthesia market include Halocarbon Products Corporation; Baxter; Hikima Pharmaceuticals PLC; Lunan Pharmaceutical Group Co. Ltd.; Piramal Enterprises Limited; Jiangsu Hengrui Medicine Co. Ltd.; Fresenius Kabi AG, and AbbVie Inc.
Grand View Research has segmented the global inhalation anesthesia market on the basis of product and region:
Inhalation Anesthesia Product Type Outlook (Revenue, USD Million, 2014 - 2025)
Inhalation Anesthesia Application Type Outlook (Revenue, USD Million, 2014 - 2025)
Inhalation Anesthesia Regional Outlook (Revenue, USD Million, 2014 - 2025)
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