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Inhalation Anesthesia Market 2021 Growth Factors, Product Overview, Segmentation and Forecast Study to 2030 | Says Kenneth Research

In a recent published report, Kenneth Research has updated the market report for Inhalation Anesthesia Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.  

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Inhalation Anesthesia Market products.  

The global inhalation anesthesia market is expected to grow significantly over the forecast period. It is anticipated that the market held a valuation of USD 1.12 billion in 2018 and is projected to register a CAGR of 3.8% over the forecast period.Inhalational anesthetics are used for the induction and maintenance of general anesthesia as well as sedation. They are usually preferred for maintenance because they allow more precise control of the anesthetic state and do so at low cost.

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The increasing geriatric population is one of the key factors driving the inhalation anesthesia market as they are highly prone to degenerative diseases and chronic illnesses, which eventually leads to a rise in surgeries and therapeutics. According to WHO, it is estimated that the world’s population aged 60 years and older are likely to double from 12% to 22% by 2050.Various other factors such as the rise in surgical procedures, rising prevalence of cardiovascular and respiratory system-related diseases along with technological advancements, and a rise in regulatory approvals drive the growth of the market.However, the increasing concern about greenhouse gas emissions will hamper market growth over the forecast period.

Segmentation

The global inhalation anesthesia market is segmented based on product, application, and region.The global market for inhalation anesthesia, by product, is segmented into sevoflurane, isoflurane, and desflurane.Based on application, the market is segmented into induction and maintenance.In the current scope of the study, the segments mentioned above are covered into the four global regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East and African region.The inhalation anesthesia market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European inhalation anesthesia market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.  The inhalation anesthesia market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The inhalation anesthesia market in the Middle East & Africa has been segmented into the Middle East and Africa.

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Key Players

Baxter International Inc.

Halocarbon Products Corporation

Hikima Pharmaceuticals plc.

Lunan Pharmaceutical Group Co. Ltd

Piramal Enterprises Limited

Jiangsu Hengrui Medicine Co. Ltd

Fresenius Kabi AG

AbbVie Inc.

Regional Market Summary

Global Inhalation Anesthesia Market Share (%), by Region, 2018

The Americas dominated the global market for inhalation anesthesia owing to the rising geriatric population within the region. As per the data suggested by the United Census Bureau, by 2060, the US is projected to grow by 79 million people, from about 326 million today to 404 million. The population is projected to cross the 400-million threshold in 2058. Additionally, according to the WHO, in the US, more than 20% of the total population is likely to be aged 65 years or over by 2030.

Moreover, rising cases of surgical procedures along with the participation of market players are also strongly impacting the growth of the Americas inhalation anesthesia market. For instance, according to the American Society for Aesthetic Plastic Surgery, around 1, 542, 67 surgical cosmetic procedures were conducted in 2017. Similarly, according to the Center for Diseases Control and Prevention, approximately 46.5 million surgical procedures are performed every year in the US.

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 In 2018, it was estimated that Europe stood second in the global inhalation anesthesia market. Technological advancements, along with the availability of funding opportunities in research and innovation, will support market growth.Asia-Pacific (APAC) is expected to represent the phenomenal market growth throughout the forecast period due to rising prevalence of chronic conditions, growing awareness about medications, and increasing healthcare expenditure. During 2016-2017, Australia spent nearly USD181 billion on health, which is more than USD 7,400 per person and 10% of overall economic activity.

On the other hand, the Middle East and Africa held the least share in the global inhalation anesthesia market due to the low economic development, especially within the African region.

Market Segmentation

Global Inhalation Anesthesia Market, by Product

Sevoflurane

Isoflurane

Desflurane

Global Inhalation Anesthesia Market, by Application

Induction

Maintenance

Intended Audience

Medical devices companies

Government and private laboratories

Research and development (R&D) companies

Research laboratories

Market research and consulting service providers

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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