Market Size of Global Anesthesia Gases Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Global Anesthesia Gases Market Analysis
The anesthesia gas market is expected to witness a CAGR of 4% during the forecast period.
The emergence of the COVID-19 pandemic had a significant 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. For instance, according to an article published by Lancet Rheumatology in February 2021, a study was conducted in the United Kingdom, which showed that during the COVID-19 pandemic, many elective surgeries were postponed, and there was a long waiting time for elective surgeries. The cancellation of many surgical procedures had a negative impact on the studied market. However, as the pandemic has subsided currently, the studied market is expected to have stable growth during the forecast period of the study.
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. For instance, according to the British Heart Foundation Factsheet, published in August 2022, about 7.6 million people were living with heart or circulatory diseases in the United Kingdom. Also, as per the same source, it is estimated that in the United Kingdom, more than half of the people will get a heart or circulatory condition in their lifetime, and around twice as many people are living with heart and circulatory diseases in the United Kingdom than with cancer and Alzheimer's disease combined. It is also estimated that around 48,000 people under the age of 75 in the United Kingdom die from heart and circulatory diseases each year.
Moreover, a steep rise in the incidences of sports-related and spinal cord injury (SCI) and accidental fracture cases resulted in surgical procedures, thus leading to more usage of anesthesia gases. For instance, according to the National Spinal Cord Injury Statistical Center report in 2022, the annual incidence of traumatic spinal cord injury (SCI) last year was approximately 54 cases per one million people in the United States, which equals about 18,000 new SCI cases each year. The estimated number of people with SCI living in the United States last year was approximately 299,000 persons, with a range from 253,000 to 378,000 persons. Thus, the increasing prevalence of spinal cord injury is expected to increase the demand for surgical procedures, thereby boosting the usage of anesthesia gases.
Furthermore, the increasing product launches by key market players are also enhancing market growth. For instance, in February 2022, Sedana Medical AB launched Sedaconda (isoflurane) in Germany. Sedaconda received European DCP approval in July 2021.
Therefore, owing to the aforementioned factors, such as the rising prevalence of chronic diseases, rising surgical procedures, and product launches by key market players, 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 market growth.
