PORTLAND, Oregon, April 7, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Inhalation Anesthesia Market by Product (Sevoflurane, Desflurane, Isoflurane, and Nitrous Oxide), Application (Induction and Maintenance), and End-User (Hospitals and Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2019–2026".According to the report, the global inhalation anesthesia industry garnered $1.13 billion in 2018, and is anticipated to reach $1.54 billion by 2026, growing at a CAGR of 4.2% from 2019 to 2026.
Drivers, restraints, and opportunities
Rise in number of surgeries and increase in severe road accidents have boosted the growth of the global inhalation anesthesia market. However, stringent regulatory scenario hampers the market growth. On the contrary, growth opportunities in the emerging economies would propel the market growth in the coming years.
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Sevoflurane segment dominated the market
Based on product, the sevoflurane segment held the largest share in 2018, accounting for nearly three-fifths of the global inhalation anesthesia market, owing tothe fact that induction of anesthesia with sevoflurane is favorable in neonates compared to isoflurane and desflurane, as it lacks airway irritation.However, the desflurane segment is expected to reach the fastest CAGR of 5.1% during the forecast period. Desflurane is widely used in ambulatory anesthesia as it possesses the properties of an ideal agent that has lower blood gas solubility, resulting in rapid induction and emergence from anesthesia. This property of desflurane is anticipated to contribute to its market growth in the future
Maintenance segment to manifest fastest growth
The maintenance segment is projected to portray the highest CAGR of 4.3% during the study period. Moreover, the segment held the largest share in 2018, accounting for more than four-fifths of the global inhalation anesthesia market. This is due to the fact that inhalational anesthetics are widely and majorly used for the maintenance segment of general anesthesia as well as sedation. The research also analyzes the induction segment.
North America held the lion's share
The global inhalation anesthesia market across North America held the largest share in 2018, contributing to nearly half of the total revenue, due torise in government funds for R&D of novel inhalation anesthesia as well as surge in incidences of cancer.However, the market across Asia-Pacific is expected to manifest the highest CAGR of 6.0% during the forecast period, owing to increase in disorders such as cancer and respiratory that often need surgery.
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Major market players
- AbbVie Inc.
- Fresenius SE & Co. KGaA.
- Baxter International Inc.
- Hikma Pharmaceuticals PLC.
- Halocarbon Products Corporation
- Lunan Pharmaceutical Group Co. Ltd
- Jiangsu Hengrui Medicine Co., Ltd.
- Piramal Enterprises Ltd
- Novartis AG
- Troikaa Pharmaceuticals Ltd.
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