Inhalation Anesthesia Market Overview, Growth Analysis & Industry Insights by 2024
Date: 2018-08-28   Author: Rahul Sankrityayan  Category: #market

Inhalation Anesthesia Market Overview, Growth Analysis & Industry Insights by 2024

Inhalation Anesthesia Market size is anticipated to experience significant growth of 3.5% CAGR from 2017 to 2024.

Rising incidences of chronic diseases, respiratory diseases and cancer will drive the inhalation anesthesia market at a lucrative rate. According to WHO, 40 million people die from chronic diseases, where cardiovascular accounts for 17.7 million people’s death, cancer held 8.8 million people’s death and 1.6 million people died of diabetes. In addition, they also reported more than 3 million people’s death from COPD and 235 million people suffer from asthma, all over the world. This will aggregate the demand for inhalation anesthesia during surgical treatments, thereby propelling the industry growth.

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Growing geriatric population prone to several diseases will also help in stimulating the business growth. As per World Bank Data, 8.5% of the total world’s population comprises of people with age 65 years and above. These people are susceptible to several diseases like cardiovascular, respiratory, spinal, stroke which may require surgery as a preventive measure, boosting the growth of the inhalation anesthesia market.

Adverse effects of anesthesia such as temporary weakness or paralysis and backache will hinder the growth of the market.  Furthermore, loss of spinal fluid causing severe headache, hypotension and difficulty in urination can also be rendering factor in hindering the overall market growth.

Sevoflurane dominated the market in 2016 owing to its preference over other anesthetic products. It facilitates advantages such as low airway hyper reactivity and reduced timeframe thus helping early discharge from post anesthesia care unit. Sevoflurane is suitable for adults as well pediatrics due to non pungent odor, absence of respiratory irritability and can be injected with any type of anesthesia procedure, thus aggregating its demand and revenue growth.

Maintenance of inhalation anesthesia held largest market share in 2016 and is expected to follow similar trend in the foreseeable future. Maintenance of inhalation anesthesia provides better control in the airway and facilitates easy clearance of blood and mucus during bronchoscope, thus, driving the industry significantly.

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The U.S. market dominated the regional market share in 2016 owing to an increase rate of chronic diseases and growing geriatric population. Moreover, favorable government initiatives, growing awareness, high reimbursement value and technological advancement of several products will also drive the U.S. market.

Germany market is anticipated to grow at a robust rate owing to the growing number of people suffering from CVD that requires surgical procedures, thereby increasing the demand for inhalation anesthesia market. Growing awareness for treatments of various diseases will help accelerating the growth of the European market.

Some of the major key players of the inhalation anesthesia market areHikma Pharmaceuticals, Baxter International, Eisai,Mylan, Abbott,Halocarbon Products, Lunan Pharmaceutical andPiramal. These companies focus on extensive R&D activities to develop new products to survive in the market and also acquire or collaborates with other industry players to improve their business revenue.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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