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The Inhalation Anesthetics Market is segmented by Type (Desflurane, Sevoflurane, Isoflurane and Other Types), End User and Geography
Fastest Growing Market:
The Inhalation Anesthetics Market is expected to register a CAGR of 3.7% during the forecast period. The market is expected to grow due to the increase in the number of surgeries being performed, globally. For instance, according to the annual estimates of Sedana Medical, there were about 4.5 to 7.5 million people ventilated and sedated worldwide in 2017. Furthermore, rise in population pool, increase in a number of the geriatric population prone to chronic diseases, growing demand for a lesser duration of hospitalization, and increasing accessibility to health services are some of the other factors responsible for the growth of inhalation anesthetics market.
Inhalation anesthetics are also majorly used for accident care, where, intravenous route of administration is not an easy task in ambulatory settings. In emergency labors, rapid sequence induction of general anesthesia is performed with intubation of trachea. Therefore the increasing number of emergency cases all over the world is driving the inhalation anesthetics market.
As per the UN reports, the global population aged 60 years or over numbered 962 million in 2017, more than twice as large as in 1980, when there were 382 million older persons worldwide. The number of the older population is expected to double again by 2050, projected to reach nearly 2.1 billion. However, side effects associated with the inhalation anesthetics, the lower adoption rate in case of inhaled anesthetics in certain surgical procedures, generic competition for almost all of the halogenated agents, and recent patent expiries are restraining the inhalation anesthetics market growth.
As per the scope of this report, inhalational anesthetics are used for the induction and maintenance of general anesthesia and sedation. The exact mechanisms by which they function are still unknown. The most common inhalational anesthetics are sevoflurane, desflurane, and nitrous oxide. Of these, sevoflurane is the most common because of its rapid onset of action and the fact that patients recover quickly from it.
|Ambulatory Surgical Centers|
|Other End Users|
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Sevoflurane is the most widely used inhalational anesthetic, owing to its therapeutic advantages and low cost. Sevoflurane is an ether inhalation anesthetic agent with low pungency, a non-irritant odor, and a low blood, gas partition coefficient. It is found to be ideal for asthma patients or people with sensitized air passage. The drug has thus captured a major portion of the market, and it is expected to retain its position in the future as well.
The product is also marketed under the names, Sojourn, Ultane, and Ultane PEN, in the United States, with Ultane being the most popular among all age groups. AbbVie, is found to be a key player of the market studied, has Sevoflurane (sold under the trademarks Ultane and Sevorane) that AbbVie sells worldwide for human use.
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Asia Pacific is expected to expand at the fastest CAGR over the forecast period. The key factors contributing to its rapid growth include increasing population, public and private healthcare expenditure, availability of healthcare insurance for masses, and incidence of chronic diseases. The Asia - Pacific is anticipated to have a significant growth due to the presence of high unmet needs, an increase in health awareness, large population base, and an increase in the number of surgeries. Moreover, propelling medical tourism due to the availability of cost-efficient and advanced healthcare treatment options, compared to the other geographical regions and increasing adoption of novel technologies are bolstering the growth of inhalational anesthetics market in the Asia- Pacific region.
The North America has also witnessed a rapid increase in the number of diseases, such as obesity, cardiovascular problems, and different types of cancers. This has contributed to the to drive the inhalation anesthetics market in North America.
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Market players in the inhalation anesthetics market are focusing on the expansion of their product portfolios by adopting inorganic growth strategies, such as acquisitions, mergers, and partnerships. Only a few companies are coming forward with innovative technologies and new product launches. For example, in January 2019, Sandoz, a Novartis division, has launched Desflurane, Liquid for Inhalation, the first generic of Suprane in the United States, 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.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 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
4.2.3 Growing Demand for Lesser Duration in Hospitalization
4.2.4 Increasing Accessibility to Health Services and Surgeries
4.3 Market Restraints
4.3.1 Generic Competition for Almost all of the Halogenated Agents
4.3.2 Recent Patent Expiries
4.3.3 Side Effects of Inhaler Anesthesia Drugs
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
5.1.4 Other Types
5.2 End User
5.2.2 Ambulatory Surgical Centers
5.2.3 Other End Users
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.3 Asia - Pacific
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AbbVie Inc.
6.1.2 Merck KGaA
6.1.3 Baxter International Inc.
6.1.4 Fresenius Kabi AG
6.1.5 Halocarbon Products Corporation
6.1.6 Hikma Pharmaceuticals PLC
6.1.7 Jiangsu Hengrui Medicine Co. Ltd.
6.1.8 Lunan Pharmaceutical Group Co. Ltd.
6.1.9 Piramal Enterprises Limited
6.1.10 Troikaa Pharmaceuticals Ltd.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments