Inhalation anaesthesia refers to chemical compounds that have general anaesthetic properties and are administered to a patient via inhalation. The global Inhalation anaesthesia market is expected to rise with a CAGR of over 3.5% over forecast period of 2019-2026. Anaesthesia, as defined by the Food and Drug Administration (FDA, US), refers to reversible state of unconsciousness resulting in lack of pain and muscle relaxation important for performing surgical procedures. The major driver for the growth of global Inhalation anaesthesia market is the growing prevalence of chronic diseases such as cancer, cardiovascular, etc. that in turn has increased the adoption of inhalation anaesthesia due to increased number of surgical procedures. according to Our World in Data. About 42 million people worldwide had cancer in 2016, a two-fold increase from 1990 when approximately 19 million had cancer. In addition, breast cancer has been identified as the leading type of cancer, with eight million diagnoses in 2016.
North America holds the largest market share in terms of revenue in 2018. North America Inhalation anaesthesia market is primarily driven by sound healthcare infrastructure in the region, coupled with growing prevalence of chronic disease, growing number of cosmetic procedures (Surgical and non-surgical) and rising healthcare expenditure. According to National Centre for Biotechnology Information (NCBI) USA, on an average, 30 million anaesthetics are administered in USA every year. Increasing number of surgeries of elderly population is likely to supplement demand for Inhalation anaesthesia. The National Survey Ambulatory Surgery USA, in 2016 anticipated that the number of surgeries performed on geriatric population is likely to increase by 12% per annum (YoY) in the US alone. These factors are likely to supplement huge growth opportunity in the North America Inhalation anaesthesia market. However, Asia pacific Inhalation anaesthesia market is expected to grow at the highest rate over the forecast period owing to increasing number of hospitals, clinics in the region coupled with rising geriatric population and increasing healthcare expenditure. Furthermore, increasing medical tourism in Japan, China and India for the cost-effective treatment is also expected to lead the market growth in the region.
The global Inhalation anaesthesia market report covers segmentation analysis of products and outlook. The platform segment is further segmented into Sevoflurane, Desflurane, Isoflurane. Sevoflurane is expected to dominate the product segment primarily due to benefits associated with sevoflurane that include low flammability, nominal respiratory and cardiovascular side effects, non-pungent odour, intrinsic stability and others. These benefits of sevoflurane have leveraged huge adoption of sevoflurane for inhalation anaesthesia. Further Desflurane market is expected to gain traction over the forecast period as the use of desflurane allows easy and quick recovery in comparison to sevoflurane. These benefits of Desflurane is expected to inject huge growth opportunity in the global Inhalation anaesthesia market.
The major market players of the global Inhalation anaesthesia market are: Lunan Pharmaceuticals (China), Anesthesia Gas Reclamation, Baxter International (US), Piramal healthcare (India) and Others. All such companies are accepting numerous tactics such as merger & acquisition, collaboration, partnership and product launch. Whereas, Merger and acquisition is the key strategies adopted by the companies in the Inhalation anaesthesia market. For instance, in 2017 Baxter International (US) acquired Claris Injectables (US), with the acquisition Baxter International has gained access to whole product portfolio of Claris Injectables. The acquisition would help to expand product breath of the company and gain more revenue.