by The global Anesthesia Gases market is estimated to be valued at US$1,765.0 Mn in 2022 and is expected to exhibit a CAGR of 3.6% over the forecast period 2022-2028, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Anesthesia gases are used to induce and maintain anesthesia during surgical procedures. These gases help in keeping the patient in a deep sleep-like state and provide pain relief during the surgery. The market offers various types of anesthesia gases such as nitrous oxide, desflurane, sevoflurane, isoflurane, and others. These gases are usually administered in combination with other anesthesia drugs to achieve the desired effect.
B) Market Dynamics:
The global anesthesia gases market is driven by several factors. One major driver is the increasing number of surgical procedures worldwide. With the growing prevalence of chronic diseases and injuries, the demand for surgeries has witnessed a significant rise. This has created a substantial demand for anesthesia gases.
Another driver contributing to market growth is the advancements in anesthetic administration techniques. Technological innovations have led to the development of advanced anesthesia delivery systems and techniques, such as total intravenous anesthesia (TIVA) and target-controlled infusion (TCI), which offer precise and individualized anesthesia dosage. These advancements have improved patient safety and comfort during surgical procedures, thus driving the demand for anesthesia gases.
For instance, Drägerwerk AG & Co. KgaA, one of the key players in the market, offers the Dräger Perseus A500 anesthesia workstation, which combines ventilation and anesthesia delivery in one system. This workstation ensures efficient and precise administration of anesthesia gases during surgeries.
C) Segment Analysis:
The market can be segmented based on type and end-user. By type, the nitrous oxide segment dominates the market. Nitrous oxide is widely used as an analgesic and anesthetic agent, offering quick and effective pain relief. Its low cost and availability make it a popular choice in surgical settings. The nitrous oxide segment is expected to maintain its dominance throughout the forecast period.
D) PEST Analysis:
Political: The regulatory landscape plays a crucial role in the use of anesthesia gases. Governments across the globe have implemented stringent regulations and guidelines to ensure the safe use of these gases in healthcare settings.
Economic: The increasing healthcare expenditure and investments in healthcare infrastructure are driving the demand for anesthesia gases. Additionally, the rise in disposable income and improved access to healthcare services in developing countries are contributing to market growth.
Social: The growing geriatric population and the increasing prevalence of chronic diseases have led to a higher demand for surgical procedures. This trend is expected to drive the demand for anesthesia gases in the coming years.
Technological: Technological advancements in anesthesia delivery systems and techniques have improved the safety and efficacy of anesthesia administration. These advancements have enhanced patient outcomes and are expected to drive market growth.
E) Key Takeaways:
– The global Anesthesia Gases Market Insights is expected to witness high growth, exhibiting a CAGR of 3.6% over the forecast period.
– Increasing surgical procedures and advancements in anesthetic administration techniques are the key drivers contributing to market growth.
– The nitrous oxide segment dominates the market, owing to its cost-effectiveness and widespread use.
– Regionally, North America is the fastest-growing and dominating region, driven by the presence of well-established healthcare infrastructure and a high number of surgical procedures.
– Key players operating in the global anesthesia gases market include 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 focus on strategic collaborations, acquisitions, and product launches to enhance their market presence and cater to the growing demand for anesthesia gases.
In conclusion, the global anesthesia gases market is witnessing significant growth due to the increasing number of surgical procedures and advancements in anesthetic administration techniques. The market is expected to continue its growth trajectory, driven by the rising demand for anesthesia gases in healthcare settings.
