The global inhalation anesthetics market was valued at US$ 1,223.08 Mn in 2021 and is forecast to reach a value of US$ 1,636.72 Mn by 2028 at a CAGR of 4.3% between 2022 and 2028. The global inhalation anesthetics market is experiencing strong growth due to the rise in prevalence of chronic disease and growing geriatric population across the globe. Moreover, rise in number of surgical procedures is expected to boost the growth of the market. However, factors such as side effects associated with inhalation anesthetics and rise in adoption of generic inhalation anesthetic drugs is expected to hamper growth of the global inhalation anesthetics market.
Global Inhalation Anesthetics Market: Regional Insights
Based on geography, the global inhalation anesthetics market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Among regions, North America is expected to gain highest share in the market over the forecast period owing to the rise in the number of surgeries, especially in the United States. Inhalation anesthetics are used for induction and maintenance of general anesthesia in the operating room. Therefore, with the increasing number of surgeries, the usage of inhalation anesthetics is also increasing rapidly. For instance, according to American Society of Plastic Surgeons (ASPS), in 2018, more than 1.8 million cosmetic surgeries were performed in the U.S.
Asia Pacific is also expected to witness significant growth in the global inhalation anesthetics market due to the growing geriatric population and subsequent increase in number of surgical procedures. This in turn has led to a high demand for inhaled anesthetic medicines. In China, sevoflurane and desflurane are widely used in day surgeries owing to advantages such as rapid response and faster recovery.
Figure 1 Global Inhalation Anesthetics Market Share (%), by Region, 2021
Global Inhalation Anesthetics Market Drivers:
Rising geriatric population susceptible to chronic diseases is expected to augment the growth of the global inhalation anesthetics market over the forecast period. Increasing prevalence of chronic diseases and growing geriatric population across the globe has increased the demand for inhaled anesthetic drugs worldwide. More than 70% senior citizens in India have a chronic illness. Two in every three senior citizens in India suffer from some chronic disease, according to the Longitudinal Ageing Study in India (LASI) released by the Union Ministry of Family and Health Welfare on January 6 2020.
Growing number of surgical procedures around the world is expected to boost the growth of the global inhalation anesthetics market over the forecast period. Inhalation anesthetics are used for induction and maintenance of general anesthesia in the operating room. For instance, as per the National Center for Biotechnology Information, part of the United States National Library of Medicine, worldwide, a staggering 310 million major surgical procedures are performed each year; around 20 million in Europe and 40 to 50 million in the U.S.
Global Inhalation Anesthetics Market Opportunities:
Increasing demand for or use of inhalation anesthetics across the globe is expected to provide significant growth opportunities for players in the inhalation anesthetics market. Inhalational anesthetics are used for the induction and maintenance of general anesthesia during surgery. Therefore, with the increase in number of surgeries, the demand for inhalation anesthetics is also increasing. For instance, in April 2020, Hikma Pharmaceuticals PLC (Hikma) announced the launch of Vecuronium Bromide for Injection, 10mg, in the United States through its US affiliate, Hikma Pharmaceuticals USA Inc.
Growing demand for lesser duration in hospitalization is expected to provide lucrative growth opportunities for players in the global inhalation anesthetics market. Surgical procedures vary depending on the length of stay for surgery & the procedures performed. For example, a patient can experience emergency surgeries and elective surgeries by the length of stay. Open surgery is the most common procedure. The other types include laparoscopic surgery, keyhole surgery, cosmetic surgery, and microsurgery.
| Report Coverage | Details | ||
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| Base Year: | 2021 | Market Size in 2021: | US$ 1,223.08 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 4.3% | 2028 Value Projection: | US$ 1,636.72 Mn |
| Geographies covered: |
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| Companies covered: |
AbbVie Inc., Baxter, Merck KgaA, Trokiaa, Piramal Enterprises Ltd., Lunan Pharmaceutical Group Co. Ltd., Hikma Pharmaceuticals PLC, Fresenius Kabi AG (Fresenius SE& Co. KGaA), Jiangsu Hengrui Medicine Co. Ltd., and Dechra Pharmaceuticals PLC (Halocarbon Life Sciences LLC), among others |
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| Restraints & Challenges: |
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Global Inhalation Anesthetics Market Trends:
Frequent approvals and launches of novel products by market players is expected to propel the growth of the global inhalation anesthetics market. For instance, in April 2020, Blue-Zone Technologies Ltd. announced received drug approval from the Health Canada for its branded generic DESFLURANE, USP, an important drug used for general anesthesia. The DIN permits Blue-Zone to produce and commercially launch its branded generic drug.
Introduction of novel products by market players is expected to aid in the growth of the global inhalation anesthetics market. For instance, in January 2019, Sandoz announced the launch of Desflurance Liquid for inhalation, the first generic of Suprane in the U.S., as an inhalation agent for induction and maintenance of anesthesia for inpatient and outpatient surgery in adults, and for maintenance of anesthesia for inpatient and outpatient surgery in pediatric patients.
Global Inhalation Anesthetics Market Restraints:
Side effects associated with inhalation anesthetics are expected to hamper growth of the global inhalation anesthetics market. Inhaled anesthetics have a diverse range of clinically significant effects on multiple organ systems, both beneficial and potentially adverse. Adverse effects and toxicities of inhaled anesthetics include neurotoxicity, nephrotoxicity, respiratory depression and irritation, cardiac arrhythmias, hepatotoxicity, malignant hyperthermia, postanesthesia agitation, and postoperative nausea and vomiting.
Rise in demand or adoption of generic inhalation anesthetic drugs is expected to hinder growth of the global inhalation anesthetics market. For instance, launch of generic inhalation anesthetic drugs may decrease the usage of other patented inhalation anesthetic drugs, as the generic may be of lower cost when compared with the patented ones.
Figure 2. Global Inhalation Anesthetics Market Share (%), by Type, 2021
Global Inhalation Anesthetics Market Segmentation:
The global inhalation anesthetics market report is segmented into Image Type, End-User, and Region.
Based on Type, the market is segmented into Desflurane, Sevoflurane, Isoflurane, and Other Types. Out of which, Sevoflurane is expected to dominate the inhalation anesthetics market over the forecast period and this is attributed to the increasing use of sevoflurane. It is potent, rapidly acting, and has faster emergence and recovery as compared to the other drugs available in the market. Sevoflurane is the preferred choice of surgeons during surgical procedures for the induction and maintenance of anesthesia.
Isoflurane is also expected to witness significant growth in the near future and this is owing to the increasing number of surgical procedures across the globe. Isoflurane is the preferred choice for anesthesiologists' inhalation general anesthesia in developing countries due to the presence of a cost-sensitive patient pool.
Based on End User, the market is segmented into Hospitals, Ambulatory Surgical Centers, and Other End Users. Out of which, All Segments are expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of chronic diseases and growing geriatric population across the globe.
Global Inhalation Anesthetics Market: Key Developments
In March 2022, Merck completed the acquisition of Exelead for around USD 780 million to enable Merck’s life sciences business sector to provide its customers with comprehensive end-to-end contract development and manufacturing organization services.
In September 2021, Baxter announced the United States Food and Drug Administration (FDA) approval and commercial launch of premix Norepinephrine bitartrate in 5% Dextrose Injection.
In December 2021, Fresenius Kabi invested about EUR 35 million to modernize the company’s production facility in Louviers, France. This is utilized for the modernization of production facilities in France.
Global Inhalation Anesthetics Market: Key Companies Insights
The global inhalation anesthetics market is highly competitive. This is attributed to the increase in number of surgical procedures across the globe, as a result, players in the market are focusing on launching novel products in the market.
Some of the key players in the global inhalation anesthetics market are:
AbbVie Inc., Baxter, Merck KgaA, Trokiaa, Piramal Enterprises Ltd., Lunan Pharmaceutical Group Co. Ltd., Hikma Pharmaceuticals PLC, Fresenius Kabi AG (Fresenius SE& Co. KGaA), Jiangsu Hengrui Medicine Co. Ltd., and Dechra Pharmaceuticals PLC (Halocarbon Life Sciences LLC), among others.
*Definition: An inhalational anesthetic is a chemical compound possessing general anesthetic properties that can be delivered via inhalation. Inhalational anesthetics are widely used for the induction and maintenance of general anesthesia during surgery. Isoflurane is the most potent of the volatile anesthetics in clinical use, desflurane is the least soluble, and sevoflurane is the least irritating to the airways.
Inhalation anesthetics (such as isoflurane, desflurane, nitrous oxide, sevoflurane, halothane, most commonly used agents in practice today) are widely used for induction and maintenance of general anesthesia in the operating room. Inhalational anesthetic is the chemical compound possessing general anesthetic properties that can be delivered via inhalation. These anesthetics are used for both the induction & maintenance of general anesthesia during surgery. Inhalation anesthetics produce sedation on a spectrum up to and including general anesthesia as well as other clinical effects.
Market Dynamics:
Increasing number of emergency cases and surgical interventions, rise in geriatric population prone to chronic diseases, growing demand for lesser duration in hospitalization, and increasing accessibility to health services and surgeries are some major factors expected to augment the growth of the global inhalation anesthetics market. Most chronic illnesses do not fix themselves and are generally not cured completely, and thus, require surgery. One in four surgical patients has a chronic disease with an associated 10-fold increase in risk of postoperative death. Thus, with the increasing number of surgeries, the usage of inhalation anesthetics is also increasing with a rapid pace worldwide.
In April 2020, Blue-Zone Technologies Ltd. announced receipt from Health Canada of a Drug Identification Number (DIN) for DESFLURANE, USP, a drug used for general anesthesia. The DIN permits Blue-Zone to both produce and commercially launch its branded generic drug.
Moreover, in January 2022, Dechra Pharmaceuticals announced the acquisition of Isoflurane USP Inhalant Anesthetic and Sevoflurane USP Inhalant Anesthetic from Halocarbon Life Sciences. The 2 inhalation anesthesia solutions are used in both human and animal medicine. Dechra plans to launch veterinary branded Isoflurane and Sevoflurane products this year.
Key features of the study:
Detailed Segmentation:
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