Anesthesia gases are utilized in anesthesia machines in medical environments to provide relief from pain and induce sedation/unconsciousness during surgical or diagnostic procedures such as laparoscopic surgery, orthopedic surgery, neurological surgery, and others. Anesthesia gases come in different types such as nitrous oxide, desflurane, sevoflurane, isoflurane and xenon gas. These gases are mainly used for induction and maintenance of general anesthesia during surgical procedures. Advances in minimally invasive surgery have increased adoption of laparoscopy and endoscopy which require anesthesia gases to provide localized anesthesia with minimal unconsciousness.

The global anesthesia gases market is estimated to be valued at US$ 2182.32 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Increasing number of surgical procedures globally is a major driver of anesthesia gases market. As per estimates by WHO in 2020, over 312 million major surgical procedures were performed worldwide. Growing incidence of chronic diseases, rising life expectancy, and increase in road accidents worldwide have significantly increased demand for various surgical procedures. This in turn is fueling adoption of anesthesia gases for pain management during surgeries. Moreover, advances in minimally invasive surgery have increased use of techniques such as laparoscopy and endoscopy which require anesthesia gases for localized anesthesia and pain relief.

SWOT Analysis

Strength: The anesthesia gases market benefits from rising healthcare expenditure worldwide. Stringent quality control regulations are in place to ensure patient safety in gas supply. Medical air and oxygen, which form bulk of gases used, are readily available.

Weakness: Environmental hazards such as air pollution are linked to gas emissions. Supply chain complexities raise production costs. Lack of infrastructure in developing countries hampers market reach.

Opportunity: Growing geriatric population suffering from chronic diseases boosts demand. Emerging economies offer scope for market expansion. Usage of environment-friendly gas mixtures can open new avenues.

Threats: Stringent approval norms for new entrants may discourage innovation. Volatility in raw material prices pose a threat. Substitute like total intravenous anesthesia is gaining ground.

Key Takeaways

The global anesthesia gases market growth is expected to witness high growth. By 2024, the market size is projected to reach US$ 2182.32 million. The market will expand at a CAGR of 11% during the forecast period of 2024 to 2031.

Regional analysis:

 North America currently dominates anesthesia gases market, owing to rising number of surgeries. However, Asia Pacific region is fastest growing market due rapid economic development and Healthcare infrastructure growth in countries like China and India.

Key players:

Key players operating in the anesthesia gases market are AbbVie Inc., Pfizer, Hikma Pharmaceuticals, Fresenius Kabi, and AstraZeneca. They account for majority market share.

The global anesthesia gases market is fragmented with presence of various small and large players. Key players are focusing on new product launches and strategic collaborations to strengthen their market position.

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