by Anesthesia gases are essential medical gases used during surgical procedures to induce and maintain general anesthesia in patients. They provide controlled respiratory depression and amnesia, preventing pain and other sensations during surgical operations or medical procedures.
The global Anesthesia Gases Market is estimated to be valued at US$ 2182.32 in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing number of surgical procedures has been a key driver propelling the demand for anesthesia gases globally. As per estimates, over 230 million surgical procedures are performed every year worldwide. With improving access to healthcare services especially in developing nations and rising incidence of chronic and lifestyle diseases, the number of surgical procedures performed is expected to grow substantially over the coming years. This is anticipated to boost the consumption of anesthesia gases during the forecast period. Moreover, advancements in surgical techniques along with increasing adoption of minimally invasive surgeries (MIS) are further expected to fuel the need for anesthesia gases to induce and maintain anesthesia during such procedures.
SWOT Analysis
Strength: Anesthesia gases are required for most surgical procedures performed worldwide. Their demand is growing with rising number of surgeries.
Weakness: Usage of anesthesia equipment requires trained professionals. Shortage of anesthesiologists can limit market growth.
Opportunity: Emerging economies are witnessing higher healthcare investments and numbers of surgeries. This provides opportunities for anesthesia gas suppliers.
Threats: Stringent regulations pertaining to anesthetic gas handling and storage can increase compliance costs for players. Substitute products pose competition.
Key Takeaways
The global Anesthesia Gases Market share is expected to witness high growth. The global Anesthesia Gases Market is estimated to be valued at US$ 2182.32 in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
North America and Europe currently dominate the market and the trend is likely to continue in the forecast period due to increasing number of surgeries. With growing medical tourism and healthcare spending, Asia Pacific is projected to be the fastest growing regional market.
Key players operating in the market are Air Liquide, Atronix, Drägerwerk, Praxair, Matheson Tri-Gas, Linde Healthcare. Increasing healthcare expenditure, infrastructure development and favorable reimbursement policies are favoring their revenue growth in emerging nations of Asia Pacific and Latin America.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
