March 1, 2024
Anesthesia Gases Market

The Growing Usage Of Anesthesia Gases In Surgical Procedures Is Driven By Rising Healthcare Expenditure

Anesthesia gases are administered during surgical procedures to induce and maintain general anesthesia in patients. They act as inhaled gases that cause a reversible loss of consciousness and sensation, thereby enabling complex surgical treatments to take place. Commonly used anesthesia gases include nitrous oxide, desflurane, sevoflurane, and isoflurane. The rising number of surgical procedures globally due to the increasing incidence of chronic and lifestyle diseases has augmented the demand for anesthesia gases. Furthermore, improving access to advanced healthcare facilities owing to rising healthcare expenditure in emerging nations has propelled the anesthesia gases market. The global Anesthesia Gases Market is estimated to be valued at US$ 1894.37 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the anesthesia gases market is the increased adoption ofBlendinihal gases. Blendinihal gases comprise a combination of two or more inhalational anesthetic agents that help achieve faster induction and recovery from anesthesia with better postoperative outcomes. For instance, sevoflurane-nitrous oxide and desflurane-nitrous oxide blends are increasingly being used owing to their advantages like rapid anesthetic induction and emergence. Furthermore, manufacturers are focusing on developing eco-friendly anesthetic gases to reducetheir environmental footprint. For instance, desflurane produces minimal amounts of compound A, thereby reducing its impacts on ozone layer depletion. Growing concerns regardingclimate change and sustainability are compelling industry players to invest in green technology efforts. Advancements in ambulatory surgical centers and the emergence of office-based surgeries have also created opportunities for single-use anesthesia machines requiring pre-filled canisters of anesthesia gases.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderately low in the anesthesia gases market due to high capital requirements for developing and manufacturing medical gases.

Bargaining power of buyers: The bargaining power of buyers is moderate. Buyers have bargaining power due to the availability of substitutes such as intravenous anesthesia.

Bargaining power of suppliers: The bargaining power of suppliers is high due to the consolidated nature of the market with a few large players controlling majority of market share globally.

Threat of new substitutes: The threat of new substitutes is low as alternative methods like intravenous anesthesia require different skills and setup compared to inhalational anesthesia with anesthesia gases.

Competitive rivalry: The competitive rivalry is moderately high among existing players to gain higher market share.

Key Takeaways

The Global Anesthesia Gases Market Size is expected to witness high growth over the forecast period. Regionally, North America is expected to dominate the global anesthesia gases market over the forecast period owing to developed healthcare infrastructure, rising geriatric population, and increasing number of surgical procedures in the region.

Regional analysis- Asia Pacific region is expected to witness fastest growth in the anesthesia gases market over the forecast period. Improving healthcare infrastructure, rising medical tourism, and increasing disposable incomes in emerging countries like India and China are some factors expected to drive the growth of the anesthesia gases market in Asia Pacific.

Key players operating in the anesthesia gases market are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, Drägerwerk AG & Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others. Key players are focused on new product launches, facility expansions and mergers & acquisitions to strengthen their market position.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it