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The anesthesia drugs market is estimated to grow at a CAGR of 4.35% between 2022 and 2027. The size of the market is forecast to increase by USD 1,383.65 million. The growth of the market depends on several factors, including the rising prevalence of cancer, the increasing number of surgeries, and the rising elderly population.
This report extensively covers market segmentation by type (general anesthesia, local, and regional anesthesia), route of administration (intravenous, inhalational, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global anesthesia drugs market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent, the global pharmaceuticals market covers products and companies engaged in research and development (R&D) or production of generic drugs, non-generic drugs, and veterinary drugs. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The rising prevalence of cancer is notably driving the market growth, although factors such as growing demand for general anesthetic risks in pediatric patients and pregnant women may impede the market growth. Our researchers analyzed the data with 2022 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.
Key Anesthesia Drugs Market Driver
The rising prevalence of cancer is notably driving market growth. Cancer 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 cancer, and liver cancer are the most common cancers.
In 2022, an estimated 1.9 million new cancer cases were diagnosed. Since cancer 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 of cancer is expected to drive the growth of the market during the forecast period.
Significant Anesthesia Drugs Market Trend
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.
Major Anesthesia Drugs Market Challenge
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.
Key Anesthesia Drugs Market Customer Landscape
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 Anesthesia Drugs Market Customer Landscape
Vendors 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. This segment focuses on developing, manufacturing, and distributing a wide range of high-quality dental products all over the world.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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.
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The general anesthesia segment was valued at USD 3,336.51 million in 2017 and continued to grow until 2021. 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.
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North America is estimated to contribute 32% 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 anesthesia drugs 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 cancer 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 outbreak of COVID-19 negatively affected the economies of various countries in North America, especially the US. However, in 2021, business and industrial activities resumed with the lifting of stringent lockdown restrictions due to the availability of COVID-19 vaccines and the vaccination drives carried out by the governments of different countries, such as the US, Canada, and Mexico. This has encouraged people to go for health checkups and various surgeries such as heart and orthopedic surgical operations, which has increased the demand for anesthesia drugs in North America.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Anesthesia Drugs Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.35% |
Market growth 2023-2027 |
USD 1,383.65 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.04 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 32% |
Key countries |
US, Germany, UK, China, and India |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Aspen Pharmacare Holdings Ltd, AstraZeneca Plc, Avet Pharmaceuticals Inc., Baxter International Inc., 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, PAION AG, Pfizer Inc., Piramal Enterprises Ltd., Septodont Holding, Troikaa Pharmaceuticals Ltd., and B Braun Melsungen AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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