The global inhalation anesthetics market revenue is set to reach $2144.6 million by 2030, advancing at a CAGR of 5.2% during 2021–2030. This can be ascribed to various factors such as the surging number of elderly people who are prone to chronic diseases, increasing cases of trauma, rising concerns for shorter hospital stays, and greater access to healthcare services.
Furthermore, the market growth rate is expected to surge in the coming years, owing to the rise in healthcare awareness, reimbursement options, infrastructure improvements, the adoption of new advanced anesthesia techniques, and insurance policies. All these factors will boost the demand for inhaled anesthetics in the future.
The demand for isoflurane drugs is set to witness the highest growth rate, of about 5.8%, during 2021–2030. Isoflurane is clinically approved for use as a drug for the maintenance of anesthesia in cardiac surgical patients. Comparatively, isoflurane is two-to-three times cheaper than others. These factors lead to improve its market share and rapid growth in the demand for this drug in the coming years. Also, this anesthetic drug is very helpful in the anesthetic care of the disabled, elderly, pregnant, or peculiar veterinary patients, due to its quicker induction and recovery time.
Furthermore, relative minimal side effects of this drug have been seen on cardiovascular function, cerebral blood flow autoregulation, and metabolism of the patients. All these collective factors increase the demand for isoflurane drugs in surgeries.
Geographically, Europe held the second-largest share in the inhalation anesthetics market revenue in 2021. After Germany, the market in Europe is led by the U.K. Considering mortality, prevalence, treatment costs, and other factors, cardiovascular disease (CVD) poses a considerable burden to the U.K. society. The rising number of surgical procedures is in line with the increasing number of patients receiving general, orthopedic, hernia, and cardiovascular surgeries in the U.K. Furthermore, the rapid surge in the prevalence of diseases and surgical procedures performed for disease treatments, and the development of drugs have fueled the demand for anesthetic drugs in the country.
North America accounts for the largest market share because of the advancements in anesthesia and surgical techniques, along with the availability of novel drugs in the region. Moreover, the key participants of this market such as manufacturers investing in the research and development of the drugs, and doctors are adopting and promoting these drugs.
Some of the major players operating in the anesthetics market include Abbvie Inc., Baxter, Piramal Enterprises Ltd., Hikma Pharmaceuticals PLC, Halocarbon Products Corporation, Lunan Pharmaceutical Group, Sandoz International GmbH, and Fresenius Kabi Ag.