Anesthesia Gases Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Anesthesia Gases Market Analysis
The Anesthesia Gases market is expected to grow with an anticipated CAGR of 4%, during the forecast period.
The emergence of the COVID-19 pandemic had an adverse effect on the world economy and the healthcare system. Due to the rising number of cases of COVID-19 in the early stages of the pandemic, all hospitals around the world canceled all elective procedures. According to a research paper published in the British Journal of Surgery, an estimated 585,000 elective procedures were postponed in India alone during the 12-week shutdown, and 23.4 million elective surgeries were likely to be canceled globally by May 2020. Due to the high use of anesthesia during surgeries, the delay in surgical procedures is likely to impact the studied market. Hence, the pandemic had an adverse impact on the market.
In addition, the increasing geriatric population prone to chronic diseases and the rising number of emergency cases are actively affecting the growth of the studied market.
According to the June 2021 update of the World Health Organization, cardiovascular diseases (CVD) are the leading cause of mortality around the world, with 17.9 million deaths in 2019. Hence, due to high mortality from CVDs, heart interventional procedures are increasing around the world where anesthesia gases plays a crucial role. Also, an estimated 6.2 million Americans aged 65 and older are living with Alzheimer's dementia in 2021 and are projected to reach 13.5 million by 2050. Such a high prevalence of geriatric population prone to chronic disease is anticipated to bolster the demand for anesthesia gases over the coming years.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, increasing generic anesthesia usage and side effects of anesthesia gases are likely to impede the market growth.
Anesthesia Gases Industry Segments
As per the scope of the report, anesthesia gases are used for the induction and maintenance of general anesthesia and sedation. The most common gases are sevoflurane, desflurane, and nitrous oxide. The Anesthesia Gases Market is segmented by Product Type, Anesthesia Gases (Desflurane, Sevoflurane, Isoflurane, Nitrous Oxide, and Other Anesthesia Gases) and Vaporizer Devices, End User (Hospitals, Ambulatory Surgery Centers, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (in USD million) for the above segments.
|By Product Type|
|By End User|
|Ambulatory Surgery Centers|
Anesthesia Gases Market Trends
This section covers the major market trends shaping the Anesthesia Gases Market according to our research experts:
Isoflurane Gas is Expected to Witness Growth Over The Forecast Period
Isoflurane is commonly used for induction and maintenance of general anesthesia in the operating room.
The increasing number of emergency department cases and surgical interventions, the rising geriatric population prone to chronic diseases, and a growing number of lesser duration in hospitalization are expected to drive the segment growth.
For instance, according to an article titled "COVID-19 hospitalization and emergency department statistics" published in the Canadian Institute of Health Information in August 2022, from April 2021 to March 2022, more than 262,700 emergency department (ED) visits for COVID-19 patients were reported. From January 2020 to March 2021, there were more than 65,615 hospital stays and 158,860 ED visits. Anesthesia gases are used in emergency rooms and surgeries. The increasing emergency visits and surgeries are expected to increase the demand for the isoflurane gases over the coming years and drive the segment's growth.
Volatile agents are effective in patients who need complex and high- sedation, with significant reduction or removal of intravenous sedatives. For instance, the article titled "Inhalational volatile-based sedation for COVID-19 pneumonia and ARDS" published in June 2020, stated that isoflurane offers the highest potency with low dosing requirements for ICU patients and these volatiles are delivered to the patients through either an anesthesia machine or ICU ventilator with an in-line miniature vapourizer. The article concluded that delivery of inhaled volatile sedation regimens with a good sedation profile offers benefits in the lungs while easing pressure on essential sedative medications. The advantages of isoflurane gas is projected to augment the segment growth.
Companies offering the area are innovating and launching new products, and engaging in business expansion initiatives such as mergers and acquisitions, collaborations, and partnerships. For instance, in January 2022 the company Dechra Pharmaceuticals acquired Isoflurane USP from Halocarbon Life Sciences. This indicates the demand for Isoflurane among pharmaceutical companies. These activities are further expected to augment the growth of the isoflurane segment during the forecast period of study.
Thus adoption of isoflurane gas is expected to increase during the forecast period of study, and isoflurone gas segment is likely to grow.
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North America is Expected to Dominate the Anesthesia Gases Market Over The Forecast Period.
North America is expected to dominate the overall market, throughout the forecast period. This is due to the rising geriatric population and increased surgical procedures in the region.
Owing to the high prevalence of the disease, the North America Region has become the hub of the major players. According to the American Heart Association's Heart & Stroke Statistics 2020 update, more than 356,000 out-of-hospital cardiac arrests (OHCA) in the United States each year, with over 90% of these being fatal. The annual incidence of non-traumatic OHCA is estimated to be 356,461, or about 1,000 people daily. This will lead to increased adoption of anesthesia gases in the region, thereby expected to drive the growth of the market.
The advancements in the products, launches, approvals, partnerships, and acquisitions are likely to augment North America's growth. For instance, in July 2020 Baxter International Inc. signed a definitive agreement with ZeoSys Medical to commercialize technology to capture and recycle anesthetic gases. The agreement provides Baxter exclusive rights to purchase ZeoSys Medical as well as worldwide distribution rights, an exclusive license to market the technology outside of Europe, and worldwide commercialization rights.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
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Anesthesia Gases Market Competitor Analysis
The anesthesia gas market is fragmented due to the presence of many companies operating globally and regionally. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well known. Some of the companies in the market are AbbVie Inc., Baxter, Drägerwerk AG & Co. KGaA, Fresenius SE & Co. KGaA, General Electric Company (GE Healthcare), Mindray Medical International Limited, and Piramal Enterprise Ltd among others.
Anesthesia Gases Market Top Players
Fresenius SE & Co. KGaA
Drägerwerk AG & Co. KGaA
General Electric Company (GE Healthcare)
*Disclaimer: Major Players sorted in no particular order
Anesthesia Gases Market Recent Developments
- In February 2022, Sedana Medical AB launched Sedaconda (isoflurane) in Germany. Sedaconda received European DCP approval in July 2021.
Anesthesia Gases Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population Prone To Chronic Diseases
4.2.2 Increasing Number of Emergency Cases
4.3 Market Restraints
4.3.1 Increasing Generic Anesthesia Usage
4.3.2 Side Effects of Anesthesia Gases
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product Type
5.1.1 By Anesthesia Gases
220.127.116.11 Nitrous Oxide
18.104.22.168 Other Anesthesia Gases
5.1.2 Vaporizer Devices
5.2 By End User
5.2.2 Ambulatory Surgery Centers
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.3 Asia Pacific
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 AbbVie Inc.
6.1.2 Baxter International Inc.
6.1.3 Dragerwerk AG & Co. KGaA
6.1.4 Fresenius SE & Co. KGaA
6.1.5 General Electric Company (GE Healthcare)
6.1.6 Mindray Medical International Limited
6.1.7 Piramal Enterprise Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Anesthesia Gases Market Research FAQs
What is the study period of this market?
The Global Anesthesia Gases Market is studied from 2018 - 2028.
What is the growth rate of Global Anesthesia Gases Market?
The Global Anesthesia Gases Market is growing at a CAGR of 4% over the next 5 years.
Which region has highest growth rate in Global Anesthesia Gases Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Global Anesthesia Gases Market?
North America holds highest share in 2021.
Who are the key players in Global Anesthesia Gases Market?
AbbVie Inc., Baxter, Fresenius SE & Co. KGaA, Drägerwerk AG & Co. KGaA, General Electric Company (GE Healthcare) are the major companies operating in Global Anesthesia Gases Market.
Global Anesthesia Gases Industry Reports
In-depth industry statistics and market share insights of the Global Anesthesia Gases sector for 2020, 2021, and 2022. The Global Anesthesia Gases research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Global Anesthesia Gases report PDF.