Anesthesia is a condition where the body loses sensation and awareness as a result of the preoperative use of particular medications. These drugs are used to alleviate uncomfortable situations, ease discomfort during major or minor procedures, and ease discomfort following surgery.
The market for anesthesia drugs in 2021 was USD 7.03 billion and will reach USD 9.56 billion by 2030, growing at a 3.47% CAGR.
Due to the rise in surgeries, particularly cancer-related ones, the market for anesthesia drugs has experienced rapid development. The rising rate of chronic diseases brought on by an aging population is another factor driving this market.
The rise in the number of surgeries that involve anesthesia during the surgical procedure is one of the key reasons propelling the anesthetics market. The rise in traumatic injuries and accidents requiring surgical intervention is the main cause of the rise in operations. Additionally, improvements in drug delivery technology, the creation of specifically targeted medicines, the creation of devices to track patients’ physiological parameters both during and after anesthesia, and a decrease in anesthetic side effects are the key factors that will propel market expansion. Chronic illnesses, including cardiovascular and neurological conditions, are becoming more prevalent in older populations as a result of the aging population, which is driving up the demand for anesthesia drugs.
The absence of healthcare facilities in undeveloped nations and distant regions and the absence of anesthesia doctors and certified anesthesia nurses per capita are likely to impede the expansion of the anesthesia drugs market. High costs of procedures and branded drugs may further restrain the expansion of this market over the predicted period. The market for anesthesia drugs is also harmed by the general public’s lack of awareness.
Furthermore, one or two out of every 1000 patients under general anesthesia during surgery may not be aware that they are partially awake. People cannot move or tell the doctors they are in agony because they receive sedatives before surgery. According to the patients, long-term psychiatric issues akin to post-traumatic stress disorder could result from this. One of the biggest obstacles facing the anesthesia sector is unintended intraoperative consciousness.
On the basis of type, the anesthesia drugs market is segmented into local anaesthesia drugs and general anaesthesia drugs.
General anesthesia drugs ruled the entire market as major surgeries have become more prevalent globally. It is due to their ability to assist physicians in developing individualized anaesthetic plans that balance the patient’s medical history and the anticipated surgical plan to maximize patient safety. On the other hand, local anesthesia drugs are expanding at the quickest CAGR rate since they are considered safer than general anesthesia due to the lack of systemic side effects.
On the basis of application, the anesthesia drugs market is segmented into dental surgeries, general surgeries, plastic surgeries, cosmetic surgeries, and others.
Due to the widespread use of anaesthetics in various surgical procedures, general surgery ruled the market. The market is being driven by a combination of factors, including an increase in surgeries, an aging population with more chronic conditions, and technical developments in anesthesia. However, according to data from the American Society of Plastic Surgeons, 16.3 million cosmetic minimally invasive treatments and approximately 1.8 million cosmetic surgical operations were carried out in the United States in 2019.
Route of administration Insights
By route of administration, the anesthesia drugs market is segmented into intravenous, inhalation, and others.
The intravenous drugs segment ruled the market. It is due to their numerous benefits, including better patient safety, more precise dose delivery, lower rates of postoperative nausea, vomiting, urinary retention, and malignant hyperthermia, and a lower risk of blood clots and pulmonary emboli (blood clots that move to the lungs).
Each year, the number of surgical procedures in North America dramatically increases. Ailments like cancer, heart disease, and cardiovascular illness are very common and spread quickly in this area. Due to the widespread use of these operations, this industry has numerous development potentials. Forecasts for the US anesthesia drug market point to a significant expansion, contributing to the expansion of the anesthesia drug industry in North America. In addition, the Asia Pacific area will grow fastest due to its significant players and quickly growing healthcare infrastructure. In this region, anesthesia drug use is growing quickly, which will fuel strong revenue growth among these local competitors.
Major industry Players
- Aspen Pharmacare Holdings Limited
- AstraZeneca PLC
- Abbott Laboratories
- AbbVie Inc.
- Baxter International Inc.
- Boehringer Ingelheim International GmbH
- B. Braun Melsungen AG
- Claris Lifesciences Limited
- Fresenius SE & Co. KGaA
- Eisai Co. Ltd.
- F. Hoffmann-La Roche Ltd
- Glenmark Pharmaceuticals Limited
- Maruishi Pharmaceutical Co. Ltd.
- Mylan NV
- Hikma Pharmaceuticals PLC
- Hospira Inc
- Pacira Pharmaceuticals Inc.
- Paion UK Ltd
- Septodont Healthcare India Pvt. Ltd.
- Slayback Pharma LLC
- Pfizer Inc.
- Piramal Enterprises LTD
- Teva Pharmaceutical Industries Limited
- Troikaa Pharmaceuticals Ltd.