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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

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.

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.

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.

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
    • Sevoflurane
    • Desflurane
    • Isoflurane
    • Enflurane
    • Halothane

On the basis of end users, the inhalation anesthesia market is segmented into:

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

On the basis of geography, the inhalation anesthesia market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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