SAN FRANCISCO, November 5, 2018 /PRNewswire/ --
The global inhalation anesthesia market size is expectedto reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting 3.5% CAGR during the forecast period. Increase in number of surgical interventions requiring anesthesia, rising in awareness
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Inhalation anesthesia has an advantage over other intravenous agents and is considered safer by surgeons. Rising adoption of these drugs in major markets such as U.S., Europe, and Japan is expected to drive revenue growth between 2018 and 2025. The global inhalation anesthesia market, by product, was dominated by sevoflurane with a revenue share of 70.0% in 2017. Higher preference for sevoflurane over other agents due to comparatively lower delirium, lower resistance, and cost effectiveness owing to shorter induction and wake up time as compared to intravenous drugs are some of the factors contributing to a larger revenue share.
North America accounted for the dominant revenue share of 40.6% in the global market in 2017, followed by Europe. U.S. accounted for close to 90.0 % of the North America market in 2017 due to higher adoption of these agents and soaring number of surgeries performed in the country. Developing economies such as India, South Africa, Brazil, and China have witnessed lower adoption of these agents due to high price of equipment required to administer inhalation anesthesia, shortage of expertize, and lack of proper healthcare facilities. However, these markets are expected to witness a rise in adoption over the coming years owing to growing healthcare expenditure.
The Asia Pacific market is expected to register a CAGR of 4.0% between 2018 and 2025 owing to factors such as large surgical patient pool, developing healthcare infrastructure, and rising healthcare tourism in countries like India. These factors are expected to promote robust growth and provide lucrative opportunities for manufacturers. Presence of several generic drug manufacturers in local markets is also expected to reduce prices of these drugs in the region.
Browse full research report with TOC on "Inhalation Anesthesia Market Size, Share & Trends Analysis Report By Application (Induction, Maintenance), By Product (Sevoflurane, Desflurane, Isoflurane), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/inhalation-anesthesia-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global inhalation anesthesia market on the basis of product, application, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.
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