Market Overview:
Anesthesia gases are a class of volatile gases used to induce and maintain anesthesia during surgical operations. They work by causing loss of sensation and blocking the awareness and pain response of a patient. Key gases in this market include nitrous oxide, sevoflurane, desflurane and xenon among others. Anesthesia gases are commonly administered via face masks, breathing circuits or endotracheal tubes and find wide applications across cardiology, neurology, dentistry and trauma cases.
Market key trends:
One of the key trends driving growth in the anesthesia gases market is the increasing adoption of virtual reality technology in surgical simulation and training applications. Virtual reality setups allow trainees to practice complex surgical procedures on virtual patients in a risk-free simulated environment. This helps reduce errors and complications in actual surgeries. Researchers are developing sophisticated VR systems that factor in realistic anatomical structures, tissue properties and anesthesia gas dosages to give trainees an immersive experience before they work on live patients. As VR adoption grows in healthcare institutes and medical colleges, it will fuel greater utilization of anesthesia gases in simulations.
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.
Segment Analysis
The anesthesia gases market is segmented by product, application, and end user. The nitrous oxide segment dominated the market in 2022 due to its advantages such as easy availability, low cost, and rapid onset and offset of action. Nitrous oxide is widely used for minor surgical procedures such as dental surgeries.
Key Takeaways
The global anesthesia gases market is expected to witness high growth, exhibiting CAGR of 3.6% over the forecast period, due to increasing number of surgeries due to rising chronic diseases and geriatric population.
Regional analysis: North America dominated the market with around 40% share in 2022 owing to high healthcare spending and presence of major players in the region. Asia Pacific is expected to register the fastest CAGR over the forecast period supported by improving healthcare infrastructure and increasing medical tourism in countries like India, China and Singapore.
Key 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.
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