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Inhalation Anesthetics Market Size, SWOT Analysis, Growth Statistics and Forecast to 2030
According to P&S Intelligence, the inhalation anesthetics market is projected to advance at a 5.2% CAGR from 2021 to 2030.
By: P&S Intelligence
The growth of the industry is attributed to the mounting utilization of inhalation anesthetic medications, because of the rising cases of trauma, surging elderly population prone to chronic illnesses, and increasing health services and surgeries accessibility.
The hospitals category, based on end user, accounted for the largest share, and it will further advance at a 5.6% CAGR in the years to come. The medications benefit surgeons by preventing additional patients' hospital stays due to the minimum number of MAC of these medications.
The sevoflurane category, based on drug type, accounted for the largest inhalation anesthetics market share, in recent years, and it will further advance at a 5.1% CAGR in the years to come. This is attributed to the fact that sevoflurane is a widely utilized medicine for anesthesia, because of its therapeutic features. Moreover, it is an ether inhalation anesthetic agent with low pungency, low blood-gas partition coefficient, and non-irritant odor.
Whereas, the isoflurane category will observe the fastest growth, of approximately 5.8%, in the years to come. Isoflurane is a clinically permitted medication to be utilized in the maintenance of anesthesia in cardiac surgical patients. Moreover, this drug is two to three times more affordable as compared to others. These reasons resulted in the increasing growth of this category.
Additionally, this drug is also beneficial in the anesthetic care of the elderly, pregnant, peculiar veterinary, or disabled patients, because of its faster recovery time and induction.
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North America led the inhalation anesthetics industry in recent years, owing to the developments in surgical and anesthesia techniques, as well as the accessibility of novel medications in the continent. Moreover, the major stakeholders of the industry, for instance, doctors encouraging and accepting the consumption of these medications, and investors & manufacturers are investing in the R&D and production of the drugs.
Additionally, the number of chronic illnesses, such as cardiovascular issues and other cancers, has been increasing speedily in the continent, which boosts the count of surgeries.
With the growing accessibility to surgeries & health, as well as the surging elderly population prone to chronic illnesses, the inhalation anesthetics industry will continue to advance in the years to come.