Dublin, July 25, 2023 (GLOBE NEWSWIRE) -- The "Inhalation Anesthesia Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The report "Inhalation Anesthesia Global Market Report 2023" provides valuable insights into the global inhalation anesthesia market. Inhalation anesthesia plays a crucial role in inducing and maintaining general anesthesia during medical procedures, and with advancements in technology and increasing demand, the market is experiencing significant growth.
The global inhalation anesthesia market is estimated to have reached $1.45 billion in 2023, exhibiting a compound annual growth rate (CAGR) of 6.6%. The outbreak of the COVID-19 pandemic and the ongoing Russia-Ukraine war have impacted the global economic recovery. However, the market is projected to grow to $1.9 billion by 2027, at a CAGR of 7.1%.
Growing Demand for Technological Advancements
The report highlights technological advancements as a key trend gaining popularity in the inhalation anesthesia market. Companies operating in the industry are actively developing new products and technologies to meet the demands of the sector and strengthen their market position worldwide. For example, in April 2020, Hikma Pharmaceuticals launched Vecuronium Bromide for Injection, a product used as an adjunct to general anesthesia for endotracheal intubation and muscle relaxation during surgery or mechanical ventilation.
Strategic Acquisitions and Expansion
In line with technological advancements, strategic acquisitions are also shaping the market landscape. In January 2022, Dechra Pharmaceuticals, a UK-based specialist veterinary pharmaceuticals and related products business, acquired Isoflurane USP Inhalant Anesthetic and Sevoflurane USP Inhalant Anesthetic from Halocarbon Life Sciences. This acquisition added Isoflurane and Sevoflurane to Dechra's pharmaceutical companion animal portfolio, focusing on endocrinology, anesthesia, fluid therapy, dermatology, ophthalmology, pain management, joint health support, and dental care.
Regional Insights
North America emerged as the largest region in the inhalation anesthesia market in 2022, while Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Growing Geriatric Population Driving Market Demand
The increasing geriatric population is anticipated to drive the growth of inhaled anesthetic drugs during the forecast period. Elderly individuals are more prone to degenerative diseases and chronic illnesses, leading to a rise in surgeries and therapeutics. As the geriatric population grows, demand for inhalation anesthesia is expected to increase due to the convenience of administering anesthesia through inhalation compared to intravenous routes.
Leading Players
The competitive landscape of the inhalation anesthesia market includes major players such as Abbvie Inc., Baxter International Inc., Fresenius SE & Co. KGaA, Halocarbon Products Corporation, and Hikma Pharmaceuticals PLC.
Concluding Remarks
The "Inhalation Anesthesia Global Market Report 2023" provides comprehensive insights into the inhalation anesthesia market, including market size, growth, segmentation, regional breakdowns, competitive landscape, and trends shaping the industry. With valuable data and analysis, this report equips strategists, marketers, and senior management with the critical information needed to assess and thrive in the inhalation anesthesia industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1.45 billion |
| Forecasted Market Value (USD) by 2027 | $1.9 billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/xf7as
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