The global inhalation anesthesia market is estimated to drive the market growth owing to the increasing geriatric population, rising chronic disorders, and rising participation of market players. Additionally, rising surgical procedures is driving the growth of the market. For instance, according to the Center for Diseases Control and Prevention, approximately 46.5 million surgical procedures are performed every year in the US.
Inhalation Anesthesia market Segmentation
The global inhalation anesthesia market is segmented based on product, application, and region.
The global market for inhalation anesthesia, by product, is segmented into sevoflurane, isoflurane, and desflurane.
Based on application, the market is segmented into induction and maintenance.
Inhalation Anesthesia market Region Analysis
The Americas dominated the global market for inhalation anesthesia owing to the rising geriatric population within the region. As per the data suggested by the United Census Bureau, by 2060, the US is projected to grow by 79 million people, from about 326 million today to 404 million.
In 2018, it was estimated that Europe stood second in the global inhalation anesthesia market. Technological advancements, along with the availability of funding opportunities in research and innovation, will support market growth. Additionally, rising surgical procedures is driving the growth of the market. For instance, according to the National Health Service (NHS), surgery is the most important treatment offered by the NHS in secondary care within the UK. Furthermore, in 2015, NHS estimated that there were around 4.7 million surgical admissions in England, out of which 1.3 million procedures were for general surgery and around 1.2 million procedures were for trauma and orthopedics.
Asia-Pacific (APAC) is expected to represent the phenomenal market growth throughout the forecast period due to rising prevalence of chronic conditions, growing awareness about home care, and increasing healthcare expenditure. During 2016 to 2017, Australia spent nearly USD181 billion on health, which is more than USD 7,400 per person and 10% of overall economic activity.
On the other hand, the Middle East and Africa held the least share in the global inhalation anesthesia market due to the low economic development, especially within the African region.
Inhalation Anesthesia market Studied By Top Key Players
Some of the key players in the global inhalation anesthesia market are Halocarbon Products Corporation, Baxter, Hikima Pharmaceuticals plc., Lunan Pharmaceutical Group Co. Ltd, Piramal Enterprises Limited, Jiangsu Hengrui Medicine Co. Ltd, Fresenius Kabi AG, AbbVie Inc., and others.
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