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Anesthesia Gases Market Is Estimated To Witness High Growth Owing To Opportunity In Low-Cost Alternatives

kiran gire
Anesthesia Gases Market Is Estimated To Witness High Growth Owing To Opportunity In Low-Cost Alternatives

Anesthesia gases are diverse blends of medical gases used during surgical procedures for general anesthesia and analgesia. Nitrous oxide, desflurane, sevoflurane, and isoflurane are commonly used anesthesia gases for their safety and rapid induction of, and recovery from, anesthesia. These allow surgeons to seamlessly focus on operations without interruptions from patients waking up. However, anesthesia gases require expensive cylinder packaging and storage in centralized gas manifolds, raising costs significantly for healthcare facilities.

The global Anesthesia Gases Market is estimated to be valued at US$ 2182.32 million in 2024 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 Opportunity:

Alternative low-cost technologies for anesthetic delivery like computational fluid dynamics (CFD) based ventilation systems offer considerable opportunity in the anesthesia gases market. CFD systems analyze gas concentration gradients inside operation theaters in real-time using sensor data and modeling. This allows delivering precise anesthetic doses through simpler pipelines rather than complex centralized manifolds. CFD solutions minimize wastage of expensive gases and reduce reliance on gas cylinders, lowering material and logistics costs substantially. Their growing adoption can boost the anesthesia gases market significantly over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate since establishing an anesthesia gas production facility requires high capital expenditure. However, the presence of low entry barriers such as less stringent regulations has increased the threat.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many established suppliers in the market. Buyers can negotiate prices and switch between suppliers easily.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers have distinguishable products but forming long-term relationships with buyers helps maintain stability in prices.

Threat of new substitutes: The threat of new substitutes is low as anesthesia gases are irreplaceable for surgeries. However, regional anesthesia is gaining traction as a substitute.

Competitive rivalry: Competition in the market is high owing to the presence of numerous global and regional players. Intense rivalry on pricing and new product launches has increased pressure on profit margins.

SWOT Analysis

Strength: Ease of use and safety of anesthesia gases make them the preferred choice for surgical procedures. Established supply infrastructure ensures reliable availability.

Weaknesses: Strict government regulations around production and transportation increase compliance costs. Market heavily dependent on surgical procedures volume.

Opportunities: Rising geriatric population and prevalence of chronic diseases is boosting the number of surgeries performed. Emerging markets in Asia Pacific offer high growth potential.

Threats: Availability of alternate modalities like regional anesthesia poses substitution threat. Impact of trade wars and geopolitical tensions on raw material supply is a concern.

Key Takeaways

The global Anesthesia Gases Market analysis is expected to witness high growth over the forecast period of 2024 to 2031. Rising number of surgical procedures due to the growing prevalence of lifestyle diseases and the aging population are the key growth drivers. The market size for 2024 is estimated at US$ 2182.32 million.

Regional analysis: North America dominates the global anesthesia gases market currently owing to high healthcare expenditure and adoption of advanced medical technologies in the region. Asia Pacific is anticipated to be the fastest growing market during the forecast period due to rapidly increasing healthcare infrastructure, medical tourism and large patient pool in developing countries like China and India.

Key players: Key players operating in the anesthesia gases market are Air Liquide, Linde plc, Praxair, Inc., Air Products and Chemicals Inc., Matheson Tri-Gas Inc.

Get more insights on this topic: https://www.trendingwebwire.com/anesthesia-gases-market-industry-insights-trends-anesthesia-gases-market/

kiran gire
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