Anesthesia Drugs Market Overview:
The global anesthesia drugs market stood at USD 3.1 Bn in 2023 and is anticipated to catapult to USD 4.9 Bn by the end of 2030. As per the analysis of market Research Future (MRFR), the global Anesthesia Drugs Market Size is likely to grow at a 3.7% over the forecast period of 2023-2030.
Anesthesia drugs are used during surgeries for loss of sensation to alleviate pain. The rise in global surgical volume across the globe has added to the growth of the global anesthesia market. There has been an increase in the number of surgical procedures to manage diverse health conditions such as cardiovascular diseases, malignancy, infections, injuries, etc. Such operative procedures require anesthesia drugs for pain management and induce high demand for anesthesia drugs. Moreover, post-operative pain management is also likely to contribute to the growth of the global anesthesia drugs market.
Rise in global geriatric population is another factor contributing to the growth of the global anesthesia drugs market. The elderly populace is at more risk of acquiring cardiovascular, respiratory and other degenerative changes which often requires surgical treatments which boosts the growth of the market.
Expanding healthcare sector in the emerging economies is expected to drive the market for anesthesia drugs. Growth in healthcare facilities would increase the number of surgeries in developing countries which would subsequently generate more demand for anesthetic drugs.
A high incidence rate of emergency medical procedures is also a crucial factor in driving the market for anesthesia drugs. Besides, the rise in the number of cosmetic surgeries, and dental procedures also add fuel to the growth of the market.
Advancements in anesthesia drugs in terms of improved efficiency, additional and new mode of administration and decreased price has considerably augmented the growth of the market. However, the growth of the market might be hindered by side effects associated with anesthesia drugs such as temporary confusion, hallucination, elevation in heart rate and blood pressure, amnesia and memory loss, which is more prevalent in elderly patients. Other side effects include nausea, vomiting, sore throat, bladder problems, sleepiness, and others. Lack of skilled anesthesiologist is another crucial factor which might restrain the growth of the anesthesia drugs market.
The global anesthesia drugs market is led by some prominent players such as AstraZeneca PLC (British–Swedish), Baxter International Inc. (US), Fresenius Se & Co. Kgaa (Germany), Abbott Laboratories (US), Hospira, Inc. (US), Hikma Pharmaceuticals PLC (UK), F. Hoffmann-La Roche Ltd. (Switzerland), and AbbVie Inc. (US).
In April 2023, B. Braun Medical Inc., a leader in pain management and developer of innovative medical products and services, introduced its first local anesthetic for spinal anesthesia, Clorotekal at the American Society of Regional Anesthesia (ASRA) and Acute Pain Medicine’s 43rd annual conference. The anesthetic is FDA approved and is indicated for intrathecal injection in adults.
The global anesthesia drugs market has been segmented based on type of anesthesia, type of drugs and route of administration.
By type of anesthesia, the market has been segmented into general anesthesia, regional anesthesia, and others. By type of drugs, the market has been segmented into general anesthetics, local anesthetics, and others. By route of administration, the market has been segmented into inhalation, intravenous, and others.
The Americas (North America & South America), Europe, Asia Pacific, and the rest of the world (RoW) are the key markets for anesthesia drugs. The Americas is the largest market for anesthesia drugs led by North America. Advanced medical facilities, growing geriatric population, the prevalence of chronic diseases and rise in a number of surgical procedures drive the market in the Americas. Moreover, the presence of key players in the region also contributes to the growth of the market.
Europe is the second largest market led by Germany, Italy, Spain, France, and the UK. Asia Pacific is slated to be the fastest growing market for anesthesia drugs. Expansion of medical facilities in the region coupled with high demand for medical facilities in the region assists the growth of the market in Asia Pacific.
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