DUBLIN--(BUSINESS WIRE)--The "Anesthesia Gases Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Anesthesia Gases market studied was valued at USD 1,588.07 million in 2018, and is expected to reach USD 1,969.18 million by 2024, with an anticipated CAGR of 3.65% during the forecast period, 2019-2024.
The major factors attributing to the growth of the anesthesia gases market are increasing geriatric population prone to chronic diseases, and increasing number of emergency cases. The increasing number of emergency cases, including accident cases and emergency labor, among others, is driving the growth of the market studied.
The number of emergency visits has increased over the years. According to an article by Hooker EA et al. published in the Journal of Emergency Medicine 2019, between 2010 and 2014, the number of US emergency department visits increased from 128.9 million to 137.8 million. As anesthetic gases are majorly used in emergency cases, increasing number of emergency cases is expected to help this market grow in the forecast period.
Key Market Trends
Isoflurane Gas is Expected to Grow Faster in the Anesthesia Gases Segment
Isoflurane, sold under the trade name Forane, among other names, is a general anesthetic drug. Isoflurane was approved for medical use in the United States in 1979. The drug was manufactured by Baxter International in 1986 as an inhalant. In 1996, the company started manufacturing in the liquid form. The companies that are providing isoflurane in the developed markets include the AbbVie, Halocarbon Laboratories, and Technilab Pharma Inc. Hospira Inc. and Piramal Health are also involved in the manufacture and sales of isoflurane generics.
The developed countries have a high usage rate of this drug, but in developing countries, the adoption of isoflurane is less compared to that of the developed countries. However, countries like India have a few local players, such as GNH India, that are providing isoflurane under the trade name Forane. However, the marketing authorization holder of the drug is Abbott Laboratories, India. Considering all the companies that are involved in the manufacturing or marketing of isoflurane, along with the benefits provided by the same, it is estimated that the market is likely to experience rapid growth over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. This is due to the rising geriatric population. In the North America region, the United States holds the largest market share. The United States anesthesia gases market is one of the largest regional markets in the world and the country has witnessed a rapid increase in the number of chronic diseases such as cardiovascular diseases and different types of cancers which is accelerating the number of surgeries in the country. Furthermore, factors such as obesity & lifestyle changes are contributing to the growth of the market studied.
The Anesthesia gases market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising aging population and the increasing number of emergency cases, few other smaller players are also expected to enter into the market in the coming years.
Some of the major players of the market are AbbVie, Baxter, Draegerwerk AG & Co, Fresenius SE & Co, and GE Healthcare are among others.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population Prone to Chronic Diseases
4.2.2 Increasing Number of Emergency Cases
4.3 Market Restraints
4.3.1 Increasing Generic Anesthesia Usage
4.3.2 Side Effects of Anesthesia Gases
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 By Anesthesia Gases
188.8.131.52 Nitrous Oxide
184.108.40.206 Other Anesthesia Gases
5.1.2 Vaporizer Devices
5.2 By End User
5.2.2 Ambulatory Surgery Centers
5.3.1 North America
220.127.116.11 Rest of Europe
5.3.3 Asia Pacific
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Middle East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
5.3.5 South America
184.108.40.206 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AbbVie Inc.
6.1.2 Baxter International Inc.
6.1.3 Draegerwerk AG & Co. KGaA
6.1.4 Fresenius SE & Co. KGaA
6.1.5 GE Healthcare
6.1.6 Mindray Medical International Limited
6.1.7 Piramal Enterprise Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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