Rising Expenditure on Healthcare Boosts Inhalation Anesthesia Market

Why Inhalation Anesthesia?

The geriatric population is prone to cancer, respiratory ailments, and neurological disorders. Besides, the spinal cord related issues, orthopedic problems, and gastro enteritis can’t be ruled out. Treatments on these counts need surgery. Plastic surgeries are also on the rise. This asks for anesthesia to be inhaled. The number of senior citizens is rising at an alarming rate across the globe. This is the factor primarily driving the Inhalation Anesthesia Market and expected to continue with the same till 2025.

The Catalyst

The ever-increasing expenditure on healthcare coupled with economic progression in the developing economies like China is catalyzing the inhalation anesthesia market. Plus, ambulatory surgical centers are increasing owing to cost-effectiveness, convenience, and low rate of infection. Nevertheless, value-based payment model is driving the business size.

The Torchbearers

Sevoflurane has been holding the highest share; thanks to high preference due to suitability for adults and children alike with regards to induction as well as maintenance. The other factors keeping the hopes high include intrinsic stability, low flammability, non-pungent odor, low solubility of gas (facilitating immediate initiation of arrival from anesthesia), and negligible effect on blood flow in the cerebrum.

Regional Insights

North America holds the largest market share. This could be credited to the growing plastic surgeries in the U.S. coupled with increasing frequency in chronic respiratory disorders. Europe follows suit; as the UK is likely to experience substantial growth in industry owing to rising incidences of cancer. LATAM is expected to grow at the fastest pace due to Mexican market witnessing an increasing number of outpatient surgeries. MEA is expected to be another promising market due to increasing occurrences of respiratory syndrome coronavirus (MERS-CoV) along with adoption in fetoscopic intrusion, labor pain, and bariatric anesthesia ladder.

Players

The players contributing to the market include AbbVie Inc.; Fresenius Kabi AG; Jiangsu Hengrui Medicine Co. Ltd.; Piramal Enterprises Limited; Lunan Pharmaceutical Group Co. Ltd.; Hikima Pharmaceuticals PLC; Baxter; and Halocarbon Products Corporation.