Inhalation Anesthesia Market Size, Share, and Trends 2024 to 2034

Inhalation Anesthesia Market Size and Forecast 2024 to 2034

The global inhalation anesthesia market size accounted for USD 2.02 billion in 2024 and is expected to be worth around USD 3.61 billion by 2034, at a CAGR of 5.97% from 2024 to 2034. The North America inhalation anesthesia market size reached USD 780 million in 2023.

Inhalation Anesthesia Market Key Takeaways

• North America led the global market with the largest market share of 41% in 2023.
• By Product Type, the anesthetics segment has held the largest revenue share in 2023.
• By Application, the human healthcare segment has held the highest market share in 2023.
• By End-user, the hospitals segment dominated the global market in 2023.

U.S. Inhalation Anesthesia Market Size and Growth 2024 to 2034

The U.S. inhalation anesthesia market size was estimated at USD 550 million in 2023 and is predicted to be worth around USD 1,040 million by 2034, at a CAGR of 6.01% from 2024 to 2034.

North America is Likely to be the Largest Market for Inhalation Anesthesia

The study report contracts with the business predictions of inhalation anesthesia products around areas counting Europe, Latin America, Asia-Pacific, North America, Middle East and Africa. Inhalation Anesthesia market is occupied by North America due to growing prevalence of numerous chronic diseases, presence of advanced healthcare facilities, coupled with presence of major companies in the North America. Also the business plans that are executed by the chief players in the nations will support in the North America growth.

Asia Pacific is probable to list the remarkable CAGR, on account of growing demand for the inhalation anesthesia in end use industry. Likewise, utmost of the companies functioning in the market are advancing heavily in order to get the modest edge in the inhalation anesthesia market in North America.Further, the Latin America as well as Middle East and Africa regions will likely to register moderate growth in the coming.

Market Overview

The global prevalence of diseases such as respiratory diseases, gastrointestinal disorders, and cancer is a major factor driving the global inhalation anaesthesia market forward.  Growing ongoing research and development in the healthcare sector will provide lucrative growth opportunities for the global market's main players. Healthcare treatment and service rates are comparatively high in developed countries such as the United States and Canada due to the availability of advanced healthcare facilities. Highly advanced technologies are used every day, all over the world, as a result of ongoing healthcare technology advances. Scientific and technological advances have resulted in more efficient disease prevention and recovery approaches. Given the fact that various technological developments support various medical fields, it's no surprise that such advances often cause ripples in the global market. However, inhalation anaesthetics' side effects are a major stumbling block to the target market's growth. Lack of awareness and recent patent expirations are also restricting the global market's growth over the forecast year.

Inhalation Anesthesia Market Growth Factors

• Surge in the prevalence of disorders such as respiratory diseases, gastrointestinal disorders, and cancer across the globe.
• An increasing number of surgical procedures worldwide.
• Growing geriatric population and a growing number of emergency cases and accidents.

Future of Global Inhalation Anesthesia Market

Increasing numbers of strategic partnerships and capacity expansion are major trends witnessed in the global inhalation anesthesia market. These trends are expected to continue and will boost growth of the global market in the near future. Key operating players in the target market are focusing on mergers and acquisitions in order to get competitive edge in the global market. For illustration, in year 2020, a prominent player in the target industry Baxter International Inc. has completed acquisition of the Seprafilm Adhesion Barrier along with the associated assets from Sanofi for $350 million. In April 2020, Merck KGaA announced and invested 100 million euros ($108.9 million) for the construction of a new facility in California that will increase its gene therapy capacity. In 2017, Merck, a leading science and technology company, announced about its strategic alliance with Baylor College of Medicine (Texas, U.S.) in order to optimizing vaccine process development and formulation and exchanging know-how.

Market Scope

Product Type Insights

Anesthetics Product Type Segment Reported Foremost Market Stake in 2023

Anesthetics product type segment is expected to account for the major share in the target market. The growth is attributed to growing adoption of the anesthetics in the various end use applications worldwide. The apparatus segment will be further bifurcated into isoflurane, sevoflurane, desflurane, others. Along with this the apparatus product type segment is anticipated to grow at the important growth rate approximately 5.7% and will expand the market revenue in the coming future.

Application Insights

Human Healthcare Application Segment Testified Leading Market Stake in the Year 2023

Human healthcare application is anticipated to register highest growth rate as well as market share over the forecast period of time. Along with this the veterinary healthcare application segment will be growing at considerable pace and will fuel growth of the inhalation anesthesia industry in the near future.

End User Insights

Hospitals End User Segment Testified Leading Market Stake in the Year 2023

Hospitals end user is anticipated to register highest growth rate as well as market share over the forecast period of time. The clinics segment is expected to register revenue share of 22.2% in year 2023. Along with this the clinics end use segment will be growing at considerable pace and will fuel growth of the inhalation anesthesia industry in the near future.

Inhalation Anesthesia Market Companies

• Piramal Critical Care
• Baxter
• Midmark Corporation
• Halocarbon
• Hengrui Medicine
• Kent Scientific Corporation
• Merck KGaA
• BOC
• AbbVie Inc.
• Raman & Weil Pvt. Ltd.

Major Market Segments Covered

By Product Type

• Apparatus
  • Isoflurane
  • Sevoflurane
  • Desflurane
  • Others
• Anesthetics
• Accessories

By Application

• Human Healthcare
• Veterinary Healthcare

By End user

• Hospitals
• Clinics
• Ambulatory Surgical Centres
• Others

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa