In 2021, the inhalation anesthetics market was valued at approximately USD 1,356.0 million and is expected to grow at a 5.2% CAGR from 2021 to 2030, reaching USD 2,144.6 million by 2030, as per P&S Intelligence.
The expansion of this market is primarily driven by the increasing use of inhalation anesthetics, attributed to the growing elderly population susceptible to chronic diseases, the rise in trauma cases, and better access to healthcare services and surgical procedures.
Among end-users, hospitals dominated the market, holding the largest share, and are expected to expand at a CAGR of 5.6% in the coming years. The use of these anesthetics helps reduce hospital stays for patients, as they offer a relatively lower minimum alveolar concentration (MAC), preventing extended hospital admissions.
Additionally, laparoscopic surgeries are linked to lower hospital costs compared to open surgeries. Patients undergoing minimally invasive procedures benefit from shorter hospital stays and fewer readmission costs.
In 2021, sevoflurane accounted for the largest share of the market, about 75.0%, and is anticipated to grow at a CAGR of 5.1% in the near future. This is largely due to its widespread use in anesthesia because of its therapeutic properties. Sevoflurane is an ether-based anesthetic agent known for its low pungency, mild odor, and low blood-gas partition coefficient.
North America led the global inhalation anesthetics market in 2021, driven by advancements in anesthesia and surgical techniques and the availability of innovative medications. Surgeons, manufacturers, and investors in the region are key stakeholders, actively promoting the use of these drugs.
Chronic disease prevalence, particularly cardiovascular conditions and related complications, is rapidly increasing in North America, leading to a higher number of surgeries.
In terms of revenue, Europe held the second-largest market position, with significant growth projected in France. The French anesthetic drug market is poised for expansion, largely due to the healthcare system covering 85–90% of patient costs during surgeries, driving the high usage of inhalation anesthetics.
Thus, the main drivers of the inhalation anesthetics market include the growing aging population prone to chronic diseases, the increase in trauma cases, and the rising availability of healthcare services and surgeries.