by Market Overview:
Anesthesia gases are used during surgical procedures to induce and maintain anesthesia. Common anesthesia gases include nitrous oxide, sevoflurane, desflurane and xenon. They provide controlled anesthesia and reduce pain during surgical procedures.
Market key trends:
One of the key trends in the anesthesia gases market is the rising demand for low residue and low blood solubility anesthesia gases. Traditional anesthesia gases such as nitrous oxide produce a high amount of residues in body tissues and have high solubility in blood. This can lead to side effects such as nausea, dizziness and headaches. Newer anesthesia gases such as sevoflurane, desflurane and xenon have lower residues and blood solubility levels. They allow for quicker induction and emergence from anesthesia without significant side effects. Their demand is increasing due to enhanced patient recovery and safety.
SWOT Analysis
Strength: The global anesthesia gases market is well established with the presence of major players providing a variety of gases. Increasing number of surgeries is creating stable demand for anesthesia gases.
Weakness: Requirement of high capital investments for setting up production facilities of anesthesia gases pose challenges to new entrants. Stringent regulations associated with the production and transportation of medical gases also add to the operating costs.
Opportunity: Increasing healthcare expenditure in emerging economies and rising number of ambulatory surgical centers offer growth opportunities. Technological advancements are enabling the development of portable anesthesia machines.
Threats: Supply issues arising due to disruptions in transportation and logistics during the COVID-19 pandemic have threatened the steady demand and supply of anesthesia gases. Substitute products like total intravenous anesthesia also pose competition.
The global Anesthesia Gases Market Share 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.
Key Takeaways
The global anesthesia gases market size is expected to grow from US$ 1894.37 Mn in 2023 to US$ 2513.01 Mn by 2030, expanding at a CAGR of 3.6% during the forecast period. The increasing number of surgical procedures globally is anticipated to drive the anesthesia gases market.
Regional analysis: North America dominated the global anesthesia gases market in 2023 and is expected to continue its dominance over the forecast period. This can be attributed to the growing geriatric population undergoing various surgeries in the region. Asia Pacific anesthesia gases market is anticipated to witness the fastest growth rate owing to rising medical tourism and increasing healthcare spending in various APAC countries.
Key players: The major 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. These players are focusing on developing innovative anesthesia machines and portable workstations for hospitals and ambulatory surgical centers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
