Inhalation Anesthesia Industry
Inhalation anesthesia market is poised to attain substantial growth in the coming years owing to the increasing number of surgical procedures and prevalence of chronic diseases. Advancements in anesthesia products, surgical techniques and availability of novel drugs are mainly responsible for the progress of day care surgeries. With the emerging demand for surgical products and the widespread application of various equipment, inhalation anesthesia industry has positively established its presence across the globe and will witness positive growth trends over the forecast period.
The product terrain of inhalation anesthesia market includes Sevoflurane, Desflurane, Xenon, and Isoflurane which are widely used during clinical surgeries. Among these, Sevoflurane is known as general anesthetic and is broadly adopted as an agent for inhalational inductions. Sevoflurane is extensively useful in children and adults for both induction and maintenance purpose, since it exhibits low reactivity with other drugs and minimal cardiovascular and respiratory side effects. In 2018 Sevoflurane segment in inhalation anesthesia market had recorded more than USD 950 million in revenues and is likely to register further growth in upcoming years.
U.S. Inhalation Anesthesia Market, By Product, 2018 & 2025 (USD Million)
Isoflurane is considered to be one of the most advantageous options for neurosurgical patients due to its ability to reinforce muscle relaxant activity and support the expansion of systemic vessels. Moreover, scarce economic resources and rise in the growth of advanced surgeries due to the ever-surging patient population has massively advanced the concept of minimal invasive surgeries. This has allowed more advanced surgical procedures to be performed on day care basis to ensure safer, faster and cost-effective patient turnover, offering lucrative prospects for global inhalation anesthesia market.
Speaking about the rising need for of ambulatory surgeries, the dramatically increase has resulted from the consistent improvements in anesthesia techniques with reduced side effects. Furthermore, suitable discharge criteria and minimal invasive surgical techniques have also influenced the rate of occurrence of ambulatory surgeries. In the present scenario, ambulatory surgical centers (ASCs) are becoming the prominent choice for patients as well as physicians because of their ability to perform complex surgeries in a very short period of time, inherently propelling inhalation anesthesia industry size.
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Sandoz, a Novartis division, had reportedly launched Desflurane liquid for inhalation in 2018, making it the first generic version of Suprane in the U.S. It is used as an inhalation agent for outpatient and inpatient surgeries in pediatric patients. Driven by the exceptional efforts of healthcare companies and increasing number of surgical procedures, there has been a remarkable demand for anesthetics, reinforcing inhalation anesthesia industry outlook. Presence of suitable guidelines for preparing pediatric anesthesia environments will further support the adoption of novel inhalation anesthetic products safe for infants and children.
Over the past few years, the health services sector has expanded at a significant rate on account of an increase in demand for modern healthcare facilities, high-grade medical infrastructure and improved health consciousness among people. This has helped key players to direct their efforts towards expanding their geographical reach, grow their physician networks and build R&D capabilities, which will fuel inhalation anesthesia market size. Joint ventures, partnerships and collaborative arrangements are taking place within the healthcare sector, providing ample opportunities to various pharma companies to establish their presence in the market.
Some of the prominent industry players that are commendably driving the penetration of inhalation anesthetic products include Hikma Pharmaceuticals, Novartis, Jiangsu Hengrui Medicine, Halocarbon Products, and Fresenius Kabi. Augmented research activities driven by a continuously expanding consumer base will underscore the competitive landscape. Reports estimate that by 2025, global inhalation anesthesia market share will surpass annual revenues of USD 1.9 billion.
Author Name : Deeksha Pant