Global Inhalation Anesthetic Market Overview and Analysis:
The Inhalation Anesthetics Market size is currently valued at USD 1.32 billion in 2022 and is expected to register a CAGR of 4.57% during the forecast period 2023-2030
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Inhalation anesthetics, also known as inhaled anesthetics, are a class of pharmaceutical agents used to induce and maintain a state of general anesthesia in patients during surgical procedures or medical interventions. These substances are administered through inhalation, typically by inhaling gas or vapor, and they work to induce a reversible loss of consciousness, pain sensation, and muscle reflexes, allowing surgical procedures to be performed without pain and with the patient being unaware of the procedure. Inhalation anesthetics play a crucial role in modern anesthesia practice and are used to ensure patient comfort, safety, and the successful completion of various medical procedures.
The application of inhalation anesthetics for the diagnosis and treatment of COVID-19 and associated diseases has positively impacted the market's growth. Volatile agents are effective in patients who need complex and high sedation, significantly reducing or removing intravenous sedatives. Volatile agents contain mild muscle relaxation properties and may lower the usage of paralytic agents and benefit the lungs.
Inhalation Anesthetic Market Latest Trends:
Pharmaceutical companies and researchers were actively working on developing new inhalation anesthetics that are more efficient, have fewer side effects, and provide quicker recovery times for patients. The technology used for administering inhalation anesthetics continued to evolve, with improvements in vaporizers, delivery systems, and monitoring equipment, making anesthesia safer and more precise. There was a growing awareness of the environmental impact of inhalation anesthetics, particularly in terms of their contribution to greenhouse gas emissions. Researchers and medical facilities were exploring ways to reduce the carbon footprint of anesthesia by using more eco-friendly agents and recycling methods.
Segmentation:
The Inhalation Anesthetics Market is Segmented
By Type :
- Desflurane
- Sevoflurane
- Isoflurane
- Other Types
End-User :
- Hospital
- Ambulatory Surgical Centers
- Other End Users
Geography :
- North America
- Europe
- Asia-Pacific
- Middle-East
- Africa
- South America
The report offers the value (in USD million) for the above segments.
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Drivers:
Increasing Geriatric Population Prone to Chronic Diseases
The market is expected to grow due to the increase in the number of surgeries performed globally. For instance, The Centre for Disease Control and Prevention (CDC) data updated in March 2022 related to Emergency Department Visits in the United States shows that, in the year 2020, 130 million emergency hospital visits and the number of injury-related visits were 35 million. This number increased from the prior year. In 2020, employers reported 2.7 million injury and illness cases in private industry. Injury cases declined to 2.1 million in 2020 from 2.7 million in 2019, while illness cases more than quadrupled to 544,600 cases in 2020, according to the United States Bureau Of Labor Statistics data. This surge in emergency cases and related increase in surgical interventions are among the few factors estimated to drive the growth of the studied market.
Increasing Number of Emergency Cases and Surgical Interventions
The factors, such as the increasing adoption rate of minimally invasive surgeries, are also helping the market grow due to their effectiveness in a shorter hospitalization period. Minimally invasive surgeries have been reported to cause less post-operative pain. Hence, the patients receive smaller dosages of painkillers. Additionally, as minimal cuts or stitches are involved, the hospital stay is relatively shorter, and the patients need not visit the hospital frequently. For instance, Becker's Spine Review data updated in December 2020 shows that more than 160 ASCs are performing minimally invasive spine surgery in the United States, which has grown significantly in the past decade. Similarly, Florida has 15 ASCs that offer minimally invasive spine surgery, which is the most of any other state.
Restraints :
Side Effects Associated with the Inhalation Anesthetics, Inhalation anesthetics are indispensable tools in modern medicine, but in some patients, they may cause potential side effects, both common and rare. Conditions like a drop in body temperature, which, if severe, may lead to hypothermia. Maintaining an appropriate temperature during surgery is essential. In some cases inhalation anesthetics can depress respiratory function, leading to shallow breathing or, in some cases, respiratory arrest, thus such effects may cause harm to patients, thereby affecting the patient's health and slowing down the growth of the studied market.
COVID-19 Impact on Global Inhalation Anesthetic Market
The COVID-19 pandemic had a significant impact on the use of inhalational anesthetics in healthcare settings around the world. Inhalational anesthetics are a crucial component of modern surgical procedures, used to induce and maintain anesthesia in patients during surgery. In the early days of the pandemic, there was a shortage of essential medical supplies and equipment, including ventilators and personal protective equipment (PPE). This led to concerns about the availability of inhalational anesthetics. However, in the current scenario, it is expected that with a decrease in COVID-19 cases, the demand for inhalation anesthetics is expected to stabilize compared to the beginning of the pandemic, but with various other uses of inhalation anesthetics for other purposes, the market is expected to witness significant growth over the forecast period.
Segmental Analysis:
Isoflurane is Expected to Witness Significant Growth Over the Forecast Period
Isoflurane is a trusted inhalation anesthetic that continues to play a crucial role in modern anesthesia practice. Its ability to provide rapid onset and emergence from anesthesia, as well as its capacity for precise control, makes it an invaluable tool for healthcare professionals in surgical settings. Isoflurane is used to induce and maintain general anesthesia. It produces a state of unconsciousness, muscle relaxation, and pain insensitivity during surgical procedures. An advantage of isoflurane is its precise control. The depth of anesthesia can be adjusted by altering the concentration of isoflurane in the inhaled gas mixture. As a result, the segment is expected to witness significant growth over the forecast period.
Hospitals Segment is Expected to Witness Significant Growth Over the Forecast Period
Inhalation anesthetics are indispensable in hospitals, playing a central role in the safety and success of surgical procedures. Their careful administration, patient monitoring, and precise control ensure that patients receive the care they need while remaining unconscious and pain-free during surgery. Hospitals continue to prioritize patient safety and environmental sustainability in their use of inhalation anesthetics, contributing to the delivery of high-quality healthcare services. Thus, the segment is expected to witness significant growth over the forecast period.
North America is Expected to Witness Significant growth Over the Forecast Period
Increased government investments in research and development for innovative inhalation anesthetics, along with a rising number of cancer cases, are propelling the growth of the North American inhalation anesthesia market. The market's expansion is further fueled by the increasing prevalence of diseases and the surge in surgical procedures conducted for disease treatment. According to data published by the Government of Canada in November 2021, an estimated 229,200 Canadians are diagnosed with cancer annually, resulting in 84,600 cancer-related deaths. Lung, breast, colorectal, and prostate cancers continue to be the most commonly diagnosed forms, accounting for 46% of all cases in 2021. Their survey reveals that breast cancer affects one in every eight women during their lifetime. As cancer cases continue to rise, the demand for inhalation anesthetics also increases, especially for procedures such as minimally invasive and open surgeries.
In June 2020, Piramal Urgent Care (PCC) entered into a strategic partnership with Medivant Healthcare, a U.S.-based pharmaceutical outsourcing facility, to address the critical shortage of injectable drugs in hospitals across the country. Additionally, in April 2020, Blue-Zone Technologies Ltd. obtained a Drug Identification Number (DIN) from Health Canada for DESFLURANE, USP, a vital drug used in general anesthesia. This DIN allows Blue-Zone to manufacture and market its own branded generic medicine. Consequently, the growing incidence of chronic diseases and increased business activities will significantly boost the regional inhalation anesthetics market during the study period. In summary, these factors mentioned above are expected to be key drivers of growth in the inhalation anesthetics market within the region.
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Global Inhalation Anesthetic Market Competitive Landscape:
Market players in the inhalation anesthetics market are focusing on the expansion of their product portfolios by adopting inorganic growth strategies, such as acquisitions, mergers, and partnerships. The key market players that hold significant shares in the inhalation anesthetics market include:
- Abbvie Inc.
- Baxter
- Piramal Enterprises Ltd
- Hikma Pharmaceuticals PLC
Key Developments:
1. In February 2022, Sedana Medical AB announced the launch of Sedaconda (isoflurane) in Germany. Sedaconda (isoflurane) received European DCP approval in July 2021. Also, the product has received national approvals in 14 countries. Additional applications for marketing approval have been submitted in the same year, and in 2022, the company is expected to receive national approvals in Italy, Poland, Switzerland, and the United Kingdom.
2. In January 2022, Dechra acquired Isoflurane and sevoflurane inhalant anesthetic products from Halocarbon Life Sciences.
Frequently Asked Questions (FAQ) :
Q1. What is the current Inhalation Anesthetic Market size?
The Inhalation Anesthetics Market size is currently valued at USD 1.32 billion.
Q2. At what CAGR is the market projected to grow within the forecast period?
Inhalation Anesthetics Market is expected to register a CAGR of 4.57% during the forecast period.
Q3. What are the factors driving the Inhalation Anesthetics Market?
Key factors that are driving the growth include the Increasing Geriatric Population Prone to Chronic Diseases and Increasing Number of Emergency Cases and Surgical Interventions.
Q4. Which Region is expected to hold the highest Market share?
North America Region is expected to hold the highest Market share.
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In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
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Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
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