Enjoy complimentary customisation on priority with our Enterprise License!
The anesthesia drugs market size is estimated to grow by USD 1.44 billion at a CAGR of 4.36% between 2023 and 2028. Market expansion relies on several factors, including the escalating incidence of cancer, the growing frequency of surgeries, and the expanding elderly population. These elements collectively shape the trajectory of market growth, reflecting a convergence of healthcare needs and demographic trends. The rising prevalence of cancer underscores the demand for innovative medical solutions and treatment options to address the disease's impact. Simultaneously, the increasing number of surgeries highlights the need for advanced medical devices and technologies to support surgical procedures effectively. Additionally, the expanding elderly population signifies a growing market for healthcare products and services tailored to the needs of aging individuals. Thus, the interplay of these factors delineates the landscape for the anticipated advancement of the market in addressing healthcare challenges.
To learn more about this report, Download Report Sample
The market share growth of the general anesthesia segment will be significant during the forecast period. General anesthesia is a type of anesthesia that induces a loss of consciousness and sensation throughout the entire body. It is commonly used for major surgical procedures, such as open-heart surgery or complex orthopedic surgery, as well as for some non-surgical procedures, such as endoscopy or radiation therapy.
Get a glance at the market contribution of various segments Request a PDF Sample
The general anesthesia segment was valued at USD 3.42 billion in 2018. General anesthesia drugs hold the largest market share and are expected to hold the dominance due to the increasing number of major surgeries worldwide, as they have assisted doctors in developing individualized anesthetic plans that balance the patient's history with the anticipated surgical plan, maximizing patient safety, which, in turn, will boost the growth of the market during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is expected to grow at a steady growth rate due to the increasing number of surgical procedures in the region. In this region, ailments such as cancer, heart disease, and cardiovascular disease are highly prevalent and increasing at a rapid pace. According to the American Cancer Society's Cancer Facts and Figures, In 2021, there were 1.9 million cancer cases in the US. Furthermore, according to the most recent National Cancer Institute data, breast malignancy is the most frequent cancer, with 290,560 new cases expected in the US. The next most common malignancies in the US are prostate cancer and lung cancer. This cancer load is expected to increase the number of procedures. This is expected to contribute to the demand generation for anesthesia drugs, which, in turn, will drive the growth of the market during the forecast period.
The market addresses the needs of patients undergoing various medical procedures, managed by skilled anaesthesiologists. Concerns like nausea and vomiting, medication errors, and patient factors such as smoking, obstructive sleep apnea, high blood pressure, obesity, diabetes, and heart or lung ailments require tailored anesthesia solutions. Additionally, considerations for alcoholism and drug allergies are crucial. In this dynamic landscape, advancements in pharmacokinetic (PK) profiles and postoperative analgesia enhance patient outcomes. Market growth is influenced by factors like disposable income, chronic illnesses, and healthcare infrastructures, alongside new drug application (NDA) introductions driving production and accessibility, even as per capita income fluctuations occur. Precision medicine leverages advanced drug formulations and targeted drug delivery methods to interact with specific sites, such as the GABAA receptor, to tailor treatments for individual patients' unique genetic profiles and medical conditions. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising prevalence of cancer is notably driving market growth. This has become much more common in recent decades. According to the National Cancer Institute, there were approximately 17 million cancer survivors in the US in 2020, and it is expected to reach 22.2 million by 2030. Breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial cancer, pancreatic cancer, thyroid, and liver cancer are the most common cancers.
In 2022, an estimated 1.9 million new cancer cases were diagnosed. Since surgery provides the best opportunity for a cure for many tumors, especially if the cancer is confined, the increased prevalence of cancer will lead to an increase in the number of procedures. As a result of the increasing frequency of cancer, the general anesthesia market will grow, as general anesthesia is often used for surgical operations to treat cancer. Therefore, the rising prevalence is expected to drive the growth of the market during the forecast period.
Rapidly expanding healthcare infrastructure is the primary trend in the market. The cost of healthcare expenditure is increasing in developing and developed countries. Anesthesia is generally covered by health insurance for all medical procedures. For patients with medical insurance, the out-of-pocket cost for anesthesia is around 10% to 50%. In addition, rapidly expanding healthcare infrastructure in multiple developing and developed countries can potentially drive the market. As healthcare infrastructure expands, the number of surgeries and procedures performed also increases, which, in turn, drives the demand for anesthesia drugs.
The increase in healthcare expenditure by the governments of developing and developed countries can open new markets for anesthesia drugs as more and more people gain access to surgical procedures and other medical treatments that require anesthesia. It will also lead to an increase in the number of hospitals and clinics with more advanced and sophisticated equipment and technology which is expected to fuel the demand for anesthesia drugs. Thus, an increase in the healthcare infrastructure is expected to fuel the growth of the market during the forecast period.
General anesthetic risks in pediatric patients and pregnant women are the major challenges impeding market growth. The use of pharmacologic agents, particularly general anesthetic drugs, in pediatric patients necessitates extra caution. Infants and young children respond differently to anesthetic drugs than adults due to a variety of characteristics such as body composition, protein binding, body temperature, cardiac output distribution, and functional maturity of the liver and kidneys.
Various investigations have found that using general anesthetics and sedative medicines in pregnant and young animals for more than 3 hours caused extensive nerve cell death in the brain. Anesthesia can cause decreased blood flow to the uterus, which can lead to fetal distress or even death. Additionally, anesthesia can lead to respiratory depression, which can cause harm to both the mother and the fetus. Thus, due to the risk associated with the use of general anesthetics by healthcare providers, the market may face challenges during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Septodont Holding - The company offers anesthesia drugs such as Sevoflurane, Desflurane, Isoflurane through its subsidiary Piramal Critical Care.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market caters to diverse medical needs, from pharmaceutical market demands to specialized techniques like epidural, spinal anesthesia, and nerve block anesthesia drugs. Various anesthetic medications and local anesthetics address different procedure types and intensities, ensuring patient comfort while inducing temporary loss of sensation. With an aging global population, the demand for novel anesthetic drugs is rising, offering commercial possibilities and positive prognosis for addressing chronic diseases and heart problems. As medical treatment advances and new surgeries emerge, drugs like propofol, dexmedetomidine, neuromuscular, and midazolam underscore the market growth opportunity within the healthcare sector.
Furthermore, the rise in chronic disease prevalence and complications from cardiovascular diseases and infectious diseases has led to increased healthcare expenditures, driving innovations in aesthetic and General anesthesia drug approvals, as well as new licensing arrangements among General anesthesia drug industry players, all of which are detailed in a customized report on anesthetic care and its impact on maternal diseases and neonatal diseases. Innovative general anesthesia drugs like remimazolam and propofol, alongside advancements in tracheal intubation methods and drug delivery, are improving surgical procedures and recovery, but unintentional intraoperative awareness and its psychological impacts, including PTSD, highlight the need for better accessibility to medical services, training for anesthetic physicians, and financial support from third-party payers to address the needs of elderly patients and those with non-communicable diseases such as osteoarthritis.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
Market growth 2024-2028 |
USD 1.44 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.11 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 30% |
Key countries |
US, Germany, UK, China, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Aspen Pharmacare Holdings Ltd., AstraZeneca Plc, Avet Pharmaceuticals Inc., Baxter International Inc., B.Braun SE, Dr Reddys Laboratories Ltd., Eisai Co. Ltd., Endo International Plc, Fresenius SE and Co. KGaA, Glenmark Pharmaceuticals Ltd., Hikma Pharmaceuticals Plc, Maruishi Pharmaceutical Co. Ltd., Merck and Co. Inc., Novartis AG, Pfizer Inc., Piramal Enterprises Ltd., Septodont Holding, and Troikaa Pharmaceuticals Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Route of Administration
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.