The inhalation anesthetics market is anticipated to showcase a significant growth rate during the forecast period. The inhalation anesthetics have their wide utility during the surgical procedures as they are used to provide anesthesia through the nasal airway. An increasing number of surgical procedures due to the growing prevalence of chronic diseases has fueled the demand for patient inhalation anesthetics market across the globe. As per the World Bank, in 2010, the geriatric population was 7.6% in 2010 which was equal to 524 million and it has been increased to 8.4% in 2016. It is forecast that it will reach 1.5 billion in 2050 with a share of 16% of the total population. The growing geriatric population is creating a surge in the number of cases related to chronic diseases.
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According to the Centers for Disease Control and Prevention (CDC), in 2019, six in every 10 individuals are suffering from chronic diseases in the US which is a major factor for the recurrently increasing admission of patients in hospitals. This steady growth in the prevalence of disease acts as a driver for more and more surgical procedure for their treatment. According to the World Cancer Report published by the WHO, in 2018 around 18.1 million new cases of cancer were registered, and the prevalence of cancer is estimated to reach 15 million new cases per year by 2020. According to Heart & Stroke Foundation in Canada alone, 1.6 million fatalities occur every year due to stroke and at least 1.3 million Canadians live with heart disease. According to the Heart and Stroke Foundation of Canada, as many as 45,000 Canadians experience a sudden cardiac arrest each year.
Asthma is one of the major non-communicable diseases globally affect almost every major economy. As per WHO, about 235 million people have asthma-related diseases across the globe. The sevoflurane is a highly recommended agent for asthma patients or people that require sensitized air passage. Moreover, as per the CDC, about 11.5 million asthma attacks were observed in 2015 including 3 million in children in the US.
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As per Asthma UK, about 5.4 million people are suffering from asthma in the UK in 2016. Out of 5.4 million people, asthma is prevalent in 4.3 million adults and 1.1 million in children. As per WHO, India is estimated to have about 15-20 million asthma patients in 2017. It is also on the high rise in China, as per Asia Asthma Development Board, there were about 36.7 patients of asthma per 100,000 people. There are more than 30 million people living with Asthma in China. These facts and figures address the demand for sevoflurane which in turn will drive the market for inhalation anesthetics.
Global Inhalation Anesthetics Market- Segmentation
By Surgery Type
- Sevoflurane
- Isoflurane
- Desflurane
- Nitrous Oxide
- Other
By Application
- Induction
- Maintenance
By End-User
- Hospitals
- Ambulatory Surgical Centers
- Other End-Users
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