Inhalational anesthetics, also termed as volatile anesthetic agents, are used for induction and maintenance of general anesthesia and sedation. They are delivered through inhalation, especially in patients where administration of anesthetics through intravenous route and other routes is not feasible. The most common inhalational anesthetics currently in practice are sevoflurane, desflurane, and nitrous oxide. Sevoflurane has rapid onset of action and faster recovery rate. Inhalational anesthetics cause respiratory depression, a decrease in arterial blood pressure, and cerebral metabolic demand along with an increase in cerebral blood flow. The most common side effect of inhalation anesthesia products is nausea. Halogenated anesthesia may induce the dose dependent hepatotoxicity.
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Inhalation Anesthesia Market-Market Dynamics
Increasing number of surgeries worldwide is one of the major factors driving growth of the inhalation anesthesia market. For instance, according to the World Bank statistics, in 2012, around 4511 surgeries per 1, 00,000 people were performed worldwide. Moreover, according to Lancet Commission for Global Surgery report in 2015, around 143 million unmet surgical needs were recorded worldwide, annually.
Moreover, increasing geriatric population is also expected to propel the market growth. It is often inconvenient to administer anesthesia through intravenous route to geriatric patients due to punctured blood vessels and issue with patient compliance. Therefore, inhalation anesthesia may be useful in such cases. According to United Nations’ report: World Population Prospect-The 2017 Revision, worldwide population of people aged over 60 years is projected to increase from 962 million in 2017 (13% of world population) to 1.3 billion by 2030 and will reach to 2.1 billion by 2050. The report further stated that the population (of people aged over 60 years) is expected to increase at a rate of 3% annually, by 2050, nearly in all regions except Africa which would have 25% or more population of against entire population with age 60 or more. Increased trauma and accidents deaths worldwide would be another factor for growth of the inhalation anesthesia market.
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Inhalation Anesthesia Market – Regional Insights
On the basis of geography, the global inhalation anesthesia market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the global inhalation anesthesia market over the forecast period. This is owing to increasing investment in the healthcare sector in the U.S. According to Organization for Economic Co-operation and Development data in 2016, the U.S. spends US$ 10,000 per capita in healthcare sector. Moreover, increasing number of hospital admissions and subsequent surgical demand, increasing geriatric population, and high trauma incidences are other prominent factors driving growth of the inhalation anesthesia market in North America. According to American Hospital Association report in 2018, around 35,158,934 hospital admissions were recorded in 2017. Moreover, according to a report by National Trauma Institute in 2015, trauma is responsible for the highest number of death in age group 1 to 46 and economic burden due to trauma cases has increased to US$ 671 billion, annually in the U.S., including healthcare costs and lost productivity costs.
Asia Pacific is expected to be the fastest growing region in the global inhalation anesthesia market due to increasing number of trauma and road accidents. According to the World Health Organization’s (WHO) report: Road Safety in the South East Asia Region, published in 2016, road traffic injuries lead to around 316 000 deaths, annually in south East Asia.
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Inhalation Anesthesia Market – Competitive Landscape
Key players operating in the global inhalation anesthesia market include, Baxter International, Inc., Mylan NV, AbbVie, Inc., Hikma Pharmaceuticals, Piramal Healthcare, Halocarbon Products Corporation, Lunan Pharmaceuticals, Maruishi Pharmaceuticals Co. Ltd., Jiangsu Hengrui Medicine Co., Ltd., Neon Laboratories Ltd., and Troikaa Pharmaceuticals Ltd.
Inhalation Anesthesia Market – Market Taxonomy
On the basis of drug type, the global inhalation anesthesia market is segmented into:
- Nitrous Oxide
- Halogenated Agents
On the basis of end-users, the inhalation anesthesia market is segmented into:
- Ambulatory Surgical Centers
On the basis of geography, the inhalation anesthesia market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
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