Global Inhalation Anesthesia Market - 2022-2029

Global Inhalation Anesthesia Market - 2022-2029

Market Overview

The global inhalation anesthesia market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

During surgical procedures, anesthetic drugs manage pain, respiration, blood pressure, blood flow, and heart rate and rhythm. Inhalational anesthesia is mostly used for sedation and induction of general anesthesia. Sevoflurane, desflurane, and nitrous oxide are inhalational anesthetics most often used. Respiratory depression, decreased arterial blood pressure, cerebral metabolic demand, and increased blood flow are common side effects of inhalational anesthetics.

Market Dynamics

The rapidly aging population, afflicted with cancer, cardiovascular, spinal, orthopedic, respiratory, gastrointestinal, neurological, and other diseases and disorders, is expected to drive growth. The growing number of orthopedic procedures, such as ligament and soft tissue repair, is also contributing to the expansion of daycare ambulatory surgeries, which is expected to increase the use of inhalation anesthesia. Furthermore, an increase in emergency cases and accidents is expected to impact market growth during the forecast period positively.

An increase in the number of surgeries performed worldwide will drive the market growth

The market is expected to expand due to an increase in the number of surgeries performed worldwide. According to Sedana Medical's annual estimates, approximately 4.5-7.5 million people were ventilated and sedated worldwide in 2017. Furthermore, a growing population pool, an increase in the number of geriatrics susceptible to chronic diseases, rising demand for shorter hospital stays, and increased access to health services are other factors driving the growth of the inhalation anesthetics market.

Inhalation anesthetics are also commonly used in accident care, where intravenous administration is difficult in ambulatory settings. Rapid sequence induction of general anesthesia with tracheal intubation is used in emergency labors. As a result, the growing number of emergency cases worldwide is propelling the inhalation anesthetics market.

According to United Nations estimates, the global population of people aged 60 and up reached 962 million in 2017, more than doubling the figure of 382 million in 1980. Older adults are expected to more than double by 2050, reaching nearly 2.1 billion.Older people are at a higher risk of getting affected with the chronic disorders hence increasing the market for inhalation anesthesia.

The increase in the number of emergency and trauma cases and the growing patient preference for ambulatory daycare procedures will positively impact the growth of the inhalation anesthesia industry. Access to universal health insurance coverage for a large population base, combined with continuous improvements in healthcare facilities, will provide additional growth opportunities. Furthermore, the advantages of inhalation anesthetics over injectable anesthetics will drive inhalation anesthesia business growth.

Inhalation anesthetic side effects is likely to hamper the market growth

However, inhalation anesthetic side effects, a lower adoption rate of inhaled anesthetics in certain surgical procedures, generic competition for almost all halogenated agents, and recent patent expirations are restraining the inhalation of the anesthetics market.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant effect on the anesthetic drug business. In the anesthetic drugs industry, manufacturing and supply chain difficulties include supplying medicines to end-users on time and managing shifting product demand.The market for general anesthesia drugs is seeing negative short-term growth. Due to a decline in product demand from key end-users, a shortage of procedures in most hospitals, a disrupted supply chain, and difficulties providing vital services due to lockdowns, the supply chain has been affected. To prepare for an impending increase in COVID-19-related inpatient hospital admissions and prevent the virus from spreading within health care institutions, non-essential surgical procedures were placed on hold as a first response.

The demand for surgical anesthetics has decreased as non-essential surgeries have decreased. On the other hand, hospitals have observed an unprecedented increase in critical care unit (ICU) patients during the COVID-19 pandemic. According to a study, 5–10% of COVID-19 patients with acute respiratory distress require long-term critical care (ARDS). These patients usually require large doses of sedatives and paralytics, which has increased demand for critical care drugs such as anesthetics, paralytics, opioids, and vasoactive agents, especially to assist ARDS ventilatory strategies. As a result, COVID-19 has had a minor impact on the anesthetic drug industry.

Segment Analysis

The sevoflurane segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The sevoflurane category accounted for most market share by product in 2018 and is predicted to increase rapidly shortly. This is due to several benefits it provides, including a favorable blood gas solubility coefficient and a pleasant odor and because of its therapeutic benefits and inexpensive cost, sevoflurane is the most extensively used inhalational anesthetic. Sevoflurane is a low-pungency ether inhalation anesthetic with a non-irritant odor and a low blood-gas partition coefficient. It has been discovered to be ideal for asthmatics and persons with sensitive airways. The medicine has taken over a large percentage of the market and is projected to continue to do so in the future.

In the United States, the product is also known as Sojourn, Ultane, and Ultane PEN, with Ultane being the most popular among all age groups. AbbVie is a major player in the market under consideration, and it sells Sevoflurane (marketed under the brand names Ultane and Sevorane) for human use worldwide.

Geographical Analysis

Asia-Pacific region holds the largest market share of the global inhalation anesthesia market

Asia-Pacific region is anticipated to dominate the inhalation anesthesia market, globally. This is due to increased diseases requiring surgery, such as cancer and respiratory illnesses. Furthermore, increased demand for healthcare infrastructure, an increase in the number of hospitals in emerging countries, a burgeoning R&D sector, increased healthcare reforms, and technological breakthroughs in the field of healthcare all contribute to market expansion in this region. According to an article published by the Bio Spectrum updated in April 2021, chronic diseases are one of the world's most serious health problems, costing the lives of an estimated 40 million people each year, 8.5 million of whom live in Asia. Cardiovascular illnesses, diabetes, cancer, and chronic respiratory disorders are the most frequent chronic diseases in the Asia Pacific. This is due to an aging population and bad lifestyle choices such as lack of physical activity and cigarette and alcohol consumption. Thus, the high prevalence of chronic diseases in the country increases the demand for surgeries thus driving the inhalation anesthesia market.

Furthermore, organic and inorganic tactics within key market players, such as mergers and acquisitions and alliances, would strengthen their product range in the studied industry, driving the market. In addition, multiple product releases will result in profitable market expansion. For instance, in June 2020, Piramal Urgent Care (PCC) has established a strategic partnership with Medivant Healthcare, a US-based pharmaceutical outsourcing facility, to help hospitals throughout the country solve the critical shortage of injectable drugs. Furthermore, advancements in various inhalation anesthesia from established key players, in the Asia-Pacific, are likely to drive the market growth in Asia-Pacific region

Competitive Landscape

The inhalation anesthesia market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Cardinal Health, ABBVIE Inc, Baxter International Inc, Fresenius SE&Co .KGaA, Halocarbon Products Corporation, Jiangsu Hengrui Medicine Co Ltd, Piramal Enterprises Ltd, Troikaa Pharmaceuticals Ltd among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the inhalation anesthesia market globally. For instance, In January 2019, Sandoz, a Novartis business, has launched desflurane Liquid for inhalation. In the United States, it is the first generic form of Suprane to be released. In inpatient and outpatient surgery patients, this liquid is utilized as an inhalation agent to maintain and induce anesthesia.

Key Developments

In April 2020,Hikma Pharmaceuticals PLC, an international generic pharmaceutical company, has launched Vecuronium Bromide for Injection, 10mg in the United States through Hikma Pharmaceuticals USA Inc., its US affiliate.

In July 2021,Hikma Pharmaceuticals PLC (Hikma), an international pharmaceutical company, has introduced Succinylcholine Chloride Injection, USP 20mg/mL in the United States through Hikma Pharmaceuticals USA Inc, its US affiliate. It's used for tracheal intubation and skeletal muscle relaxation during surgery or mechanical ventilation, in addition to general anesthesia.

Troikaa Pharmaceuticals Ltd

Overview:

Troikaa Pharmaceuticals Ltd. is a multinational pharmaceutical corporation based in Ahmedabad, Gujarat, India.

Product Portfolio:

Sevotroy: Sevotroy is a fantastic Anti-HF formulation with high water content. In adult and pediatric patients undergoing inpatient and outpatient surgery, Sevotroy is used to induce and maintain general anesthesia. Troikaa created Sevotroy, a formulation with the optimal water content, to prevent Sevoflurane from degrading to hydrofluoric acid. It is made in Troikaa's state-of-the-art production plant, which ensures no impurities. Even contaminants allowed by the US Pharmacopoeia are not present in Sevotroy.

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