Anesthesia gases are used during surgical procedures to induce and maintain anesthesia in patients. Common anesthesia gases include nitrous oxide, desflurane, sevoflurane, xenon and isoflurane.
They work by depressing the central nervous system and blocking pain signals to the brain. Rise in surgical procedures such as organ transplantation, cardiovascular surgeries, orthopedic surgeries and oncology surgeries is a key factor increasing Anesthesia Gases Market Size. According to WHO, around 234 million major surgical procedures are performed annually worldwide.
The Global Anesthesia Gases Market is estimated to be valued at US$ 1,765.0 Mn in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Anesthesia Gases are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE and Co. KgaA, Drägerwerk AG and Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others. These players are focusing on developing advanced gas delivery systems and launching new gas mixtures to gain competitive edge.
Rise in number of hospitals and ambulatory surgical centers has been a major driver of growing demand for anesthesia gases. According to OECD, the number of hospitals increased by 13% from 2000 to 2017. Furthermore, shift towards ambulatory surgical centers is expected to boost demand as these centers rely heavily on anesthesia gases for quick recovery of patients.
Technological advancements such has multi-component vaporizers for advanced gas mixtures, automated drug delivery systems, advanced monitoring devices are enhancing efficiency and safety in anesthesia procedures. This is encouraging greater adoption of anesthesia gases across healthcare facilities.
Market Trends
1) Growing preference for low-carbon footprint anesthesia gases: Rise in environmental concerns is driving demand for eco-friendly anesthesia gases such as xenon and nitrous oxide which have lower global warming potential than conventional gases.
2) Increase in customized gas mixtures: Players are focusing on developing advanced gas mixtures tailored to specific surgical procedures to offer enhanced recovery, control and precision during anesthesia administration.
Market Opportunities
1) Emerging economies in Asia Pacific and Latin America: These regions are expected to offer high growth potential for Anesthesia Gases Companies owing to rising healthcare expenditures, shortage of anesthesia professionals and increasing insurance coverage.
2) Ambulatory surgical centers: Rapid growth of ASCs globally due to shift towards outpatient surgeries offers lucrative opportunities for anesthesia gas manufacturers to tap the ASC market.
The COVID-19 pandemic has significantly impacted the growth of the Anesthesia Gases Market. Due to lockdowns imposed worldwide, the number of elective surgeries was reduced drastically to avoid overburdening the healthcare facilities. This had a direct adverse impact on the demand for anesthesia gases from the hospital sector. As per estimates, the use of anesthesia gases reduced by over 30% globally during the initial months of the pandemic in 2020. However, with the resumption of elective procedures from mid-2020, the market has started recovering. The sales are expected to increase steadily through 2024 as the backlog of deferred surgeries is cleared. Still, restrictions on certain non-urgent surgeries may continue to affect the market growth in the short-term.
The manufacturers are focusing on developing innovative delivery systems and value-added services to assist healthcare providers during the pandemic. New product launches catering to emergency and critical care situations are offering support to deal with rising COVID-19 cases. Companies enhancing their production capacities would be better equipped to fulfill the future requirements. Overall, while short-term disruptions are inevitable, the long-term outlook for anesthesia gases remains positive due to ongoing medical advancements and rising chronic disease burden worldwide. Addressing current supply chain challenges would be a key priority.
In terms of value, the Anesthesia Gases Market in North America is concentrated highly, accounting for over 35% share globally. This can be attributed to the availability of state-of-the-art healthcare infrastructure and growing preference for minimally invasive surgeries in the region. Within North America, the United States dominates others supported by high medical spending and standardized reimbursement policies.
Asia Pacific is identified as the fastest growing regional market for anesthesia gases projected to expand at a CAGR of around 5% during the forecast period. Factors such as the increasing patient pool, improving accessibility and affordability of healthcare in developing countries, and rising medical tourism are fueling the market growth. China and India have emerged as major revenue generators due to their huge populations and enhancements in national healthcare programs.
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About Author-
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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