The Anesthesia Gases market studied was valued at USD 1,588.07 million
in 2018, and is expected to reach USD 1,969.18 million
by 2024, with an anticipated CAGR of 3.65%, during the forecast period (2019-2024).
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, Nov. 12, 2019
/PRNewswire/ -- The major factors attributing to the growth of the anesthesia gases market are increasing geriatric population prone to chronic diseases, and increasing number of emergency cases. The increasing number of emergency cases, including accident cases and emergency labor, among others, is driving the growth of the market studied. Anesthetic gases are commonly used for accident care, as inducing anesthesia through the intravenous route of administration is not an easy task in ambulatory settings. In emergency labors, rapid sequence induction of general anesthesia is performed via tracheal intubation. The number of emergency visits has increased over the years. According to an article by Hooker EA et al. published in the Journal of Emergency Medicine 2019, between 2010 and 2014, the number of US emergency department visits increased from 128.9 million to 137.8 million. As anesthetic gases are majorly used in emergency cases, increasing number of emergency cases is expected to help this market grow in the forecast period.
Scope of the Report
Anesthesia gases are used for the induction and maintenance of general anesthesia and sedation. The most common gases are sevoflurane, desflurane, and nitrous oxide.
Key Market Trends
Isoflurane Gas is Expected to Grow Faster in the Anesthesia Gases SegmentIsoflurane, sold under the trade name Forane, among other names, is a general anesthetic drug. Isoflurane was approved for medical use in the United States
in 1979. The drug was manufactured by Baxter International in 1986 as an inhalant. In 1996, the company started manufacturing in the liquid form. The companies that are providing isoflurane in the developed markets include the AbbVie, Halocarbon Laboratories, and Technilab Pharma Inc. Hospira Inc. and Piramal Health are also involved in the manufacture and sales of isoflurane generics. The developed countries have a high usage rate of this drug, but in developing countries, the adoption of isoflurane is less compared to that of the developed countries. However, countries like India
have a few local players, such as GNH India, that are providing isoflurane under the trade name Forane. However, the marketing authorization holder of the drug is Abbott Laboratories, India
. Considering all the companies that are involved in the manufacturing or marketing of isoflurane, along with the benefits provided by the same, it is estimated that the market is likely to experience rapid growth over the forecast period.North America Dominates the Market and Expected to do Same in the Forecast PeriodNorth America
is expected to dominate the overall market, throughout the forecast period. This is due to the rising geriatric population. In the North America
region, the United States
holds the largest market share. The United States
anesthesia gases market is one of the largest regional markets in the world and the country has witnessed a rapid increase in the number of chronic diseases such as cardiovascular diseases and different types of cancers which is accelerating the number of surgeries in the country. Furthermore, factors such as obesity & lifestyle changes are contributing to the growth of the market studied.Competitive Landscape
The Anesthesia gases market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising aging population and the increasing number of emergency cases, few other smaller players are also expected to enter into the market in the coming years. Some of the major players of the market are AbbVie Inc., Baxter, Drägerwerk AG & Co. KGaA, Fresenius SE & Co. KGaA and GE Healthcare are among others.Reasons to Purchase this report:
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