Inhalation Anesthesia Market size to grow by USD 298.36 million from 2023-2028, North America to account for 42% of market growth - Technavio
NEW YORK, Nov. 13, 2023 /PRNewswire/ -- The inhalation anesthesia market size is expected to grow by USD 298.36 million from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 4.35% during the forecast period, according to Technavio Research. The market is segmented based on Product (Sevoflurane, Desflurane, Isoflurane, and Others), Application (Maintenance and Induction), and Geography (North America, Europe, Asia, and the Rest of the World (ROW)).This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a FREE PDF Sample Report
North America will contribute 42% to the growth of the global market during the forecast period. Surgical procedures are gaining demand as a part of the treatment procedure. The rising incidence of COVID-19, increasing adoption of advanced technologies, improved healthcare infrastructure, rising geriatric population, and the presence of prominent vendors drive the market growth during the forecast period. According to the National Cancer Institute, in 2020, 1,806,590 new cases of cancer were diagnosed in the US, and 606,520 people lost their lives to the disease.
Company Profile:
AbbVie Inc., Baxter International Inc., Fresenius Kabi AG, Halocarbon Life Sciences LLC., Hikma Pharmaceuticals Plc, Lunan Pharmaceutical Group, Maruishi Pharmaceutical Co. Ltd., Novartis AG, Piramal Enterprises Ltd., Senko Medical Instrument Mfg. Co. Ltd.
AbbVie Inc. - The company offers inhalation anesthesia such as Ultane which is used for induction and maintenance of general anesthesia during surgical procedures.
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The sevoflurane segment will be significant during the forecast period. Factors such as the growing geriatric population as the geriatric population undergoes minor surgical procedures like dental more often drive the segment growth. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Inhalation Anesthesia Market: Driver & Trend:
Driver
- Rising prevalence of cancer
- Rising elderly population
- Adoption of unique marketing strategies by vendors
Cancer has become much more common and according to the National Cancer Institute, there were approximately 17 million cancer survivors in the US in 2020, and it is expected to reach 22.2 million by 2030. The increasing frequency of cancer will drive the global inhalation anesthesia market to grow. This is because inhalation anesthesia is often used for surgical operations to treat cancer.
Trend
Strategic alliances among market vendors are a key trend in the inhalation anesthesia market. Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.
Related Reports:
The anesthesia monitoring devices market is estimated to grow at a CAGR of 10.67% between 2022 and 2027. The size of the market is forecast to increase by USD 1,108.53 million.
The anesthesia drugs market is estimated to grow at a CAGR of 4.35% between 2022 and 2027. The size of the market is forecast to increase by USD 1,383.65 million.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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SOURCE Technavio
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