ID: MRFR/Pharma/1868-HCR | February 2021 | Region: Global | 85 pages
The anesthesia durgs market is expected to grow USD 4.9 billion, to grow by 3.7% in the forecast period. Anesthesia drugs are used to cause a reversible loss of sensation. During the surgical procedure, anesthesia drugs are one of the essential components. Anesthesia brings unconsciousness and loss of reflexes for some period. Also, anesthesia drugs act by compressing the central nervous system in the human body. The local anesthesia drugs market is gaining more demand in the forecast period. This local anesthesia can restrict nerve impulses from the transmission of the spinal cord.
The market has plenty of demand from hospitals, clinics, institutes and crucial part of any health sector. There are profitable segments in the anesthesia drugs market that continuously stir the demand. By drug, administration and application are the profitable segments in the market. Anesthesia is crucial in surgeries such as general, dental, plastic and cosmetic surgery. The penetration of anesthesia drugs is massive in many regions. North America is recorded as the most important region for the well-established anesthesia drugs market. These factors are expected to raise the overall growth of anesthesia drugs market tremendously in the forecast period.
The covid 19 pandemic is affecting the general anesthesia drugs market. Few challenges create plenty of inconsistencies in the market. The supply chain of the general anesthesia market is affected due to the pandemic. The manufacturing process of the market is affected. A slowdown in production can lead to a decline in demand. During this period, the hospitals are primarily focusing on covid 19 cases. The need to stop the spread and treat the covid patients is high. Most of the hospitals are flooded with covid patients. Hospitals are delaying surgeries.
Further, these patients require intensive care. It takes plenty of time for a covid patient to recover from the virus. Severe covid patients require more than a month of treatment in hospitals. Only emergency surgeries are taking place in many hospitals. Due to the fewer surgeries, the anesthesia drugs market is facing low demand. Post covid 19, the need for anesthesia drugs will grow more. The demand for the market is expected to rise tremendously with fewer cases of covid. Overall anesthesia drugs market is affected.
As per anesthesia drugs market forecast, prevalence of chronic illnesses acts as a crucial driver for this market. There are plenty of chronic disease cases globally. Cancer, heart disease and illnesses require surgeries. Especially, the growth of cancer leads to high demand in anesthesia drugs market. According to the national cancer institute, there are over 16 million cancer survivors every year. The common types of cancers are breast, lung, kidney, prostate and colon. Due to the prevalence of these diseases, the requirement for surgeries is expanding in many regions. During surgeries, anesthesia acts as the main component that keeps the patient in an unconscious state.
Surgery is known as the best cure for any cancer. As a mainstream treatment, most cancer patients go through several surgeries. All these factors lead to the tremendous demand for the anesthesia drugs market. Further, access to healthcare is improving in many regions. Earlier many patients do not get proper healthcare services. The rising health care infrastructures incline patients to get good treatments. Due to this, the number of patients agreeing to surgeries as in increased. The improved per capita income is another factor that raises the demand for anesthesia drugs. All these demand driving factors of the market will lead to exceptional revenue rates.
The volume of surgeries is rising in many regions. Earlier, only a limited amount of surgeries were conducted in hospitals. However, enhanced healthcare infrastructure leads to more volume of surgeries an every year. The growth in new surgeries will lead to exceptional anesthesia drugs market growth opportunities. The increase in the frequency of surgeries is because of many factors.
The heavy investments in the healthcare sector allow more surgeries in a year. According to an international report, the surgeries volume is increasing by 7% a very year. The new developments and technologies make it possible to conduct such new surgeries every year. With more amounts of surgeries, the need for anesthesia drugs increases. It creates immense growth opportunities for the market. Further, new anesthesia drugs are approved by the hospitals. The launch of new anesthesia drugs attracts more demand and growth possibilities for the market.
The risks involved with anesthesia are a restraining factor in the market. The use of anesthesia in some cases requires special considerations. Especially, the pediatric and pregnant population requires a warrant before the use of general anesthesia. Using general anesthesia in children, pregnant women and pregnant animals can cause side effects.
Anaesthesia may react differently in these cases. Using sedative drugs for more than 3 hours in these cases may result in nerve cell issues. The use of general anesthesia in painful surgeries is essential for children, pregnant women and pregnant animals. However, proper testing and care are required. It is a crucial restraint that can hamper anesthesia drugs market growth in the forecast period.
There are plenty of regulatory issues in the anesthesia drugs market. It is tough to get approval for a new type of anesthesia drug. In some regions the compliance standards and regulations are stringent. It is a significant challenge of the market that can decline demand. Due to stringent regulatory norms, the supply of the product can delay. Less demand and growth rate for the anesthesia drugs market.
Further, anesthesia drugs are handled only by anesthesiologists. Not all doctors are qualified to provide anesthesia for patients. The proper amount of the drugs can benefit and help the patient tolerate painful surgeries. Overdose can lead to side effects and even death. However, the lack of anesthesiologists in many regions is a primary challenge of this market.
The growth rate of the anesthesia industry trends remains positive in the forecast period. There are few factors that continuously proper demand. The prevalence of chronic illness and the need for surgeries lead to high market demand. Growth of the geriatric population in more surgeries leads to high demand for anesthesia drugs.
Enhanced healthcare systems incline more patients to opt for surgeries. All these factors drive tremendous demand in the forecast period. The side effects of the drugs are a factor that hampers the overall growth. However, the development of new drugs and increased in the frequency of surgeries creating promising growth opportunities.
North America dominates with the highest anesthesia drugs market share. The demand for anesthesia drugs is massive in this region. Drugs such as propofol, dexmedetomidine, neuromuscular, midazolam are high. New developments of anesthesia drugs are surging in this region.
The rising rate of surgeries is the significant cause of high market demand. Surgical procedures are efficient and successful. Due to this, the anesthesia drugs go hand in hand in every surgical procedure. The applications of general anesthesia are wide in North America. The wide range of applications of the drugs contributes to the high revenue rates of the market.
By route administration
The anesthesia market has high competition in the forecast period. Market expansion, acquisition, partnership are the key strategies in the competitive landscape. The new product launch will lead to whole new end users for the market. The market expansion strategies will bring massive developments in the market.
The anesthesia drugs market is diversified into Asia Pacific, North America, and Europe. Every year plenty of surgeries happen in North America. Cancer, heart disease, cardiovascular surgeries are high in this region. Due to the prevalence of these surgeries the market is facing plenty of growth opportunities. The United States anesthesia drugs market & forecast shows promising trends.
The easy approval of new anesthesia brings favourable changes to the market. Further, with the presence of key players, the launch and innovation in the market are immense. The Asia Pacific will witness the fastest growth rate. The healthcare infrastructure in this region is developing. It is creating quick adoption of anesthesia drugs. All these regional players will be responsible for high revenue rates.
The key players of the anesthesia drugs market are
|Market Size||US$ 4.9 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type of anesthesia, Types of Drugs, Route of administration|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Abbott Laboratories (US), Astrazeneca PLC (British–Swedish), Baxter International Inc. (US), Hospira, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Hikma Pharmaceuticals PLC (UK), AbbVie Inc. (US), Fresenius Se & Co. Kgaa (Germany)|
|Key Market Opportunities||New product developments|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
anesthesia drugs market is projected grow at approximately 3.7% CAGR during the assessment period (2016-2022).
The valuation of the global anesthesia drugs market is estimated to increase to USD 4.9 BN by the end of 2022.
Rise in various kinds of surgeries and patient condition and increasing awareness and rising focus on health management are the major tailwinds pushing the growth of the global anesthesia drugs market.
North America holds the largest share in the global anesthesia drugs market, followed by Europe and the Asia Pacific, respectively.
Abbott Laboratories (USA), AbbVie Inc. (USA), AstraZeneca PLC (British–Swedish), F. Hoffmann-La Roche Ltd. (Switzerland), Baxter International Inc. (USA), Fresenius Se & Co. KGA (Germany), Hospira, Inc. (USA), and Hikma Pharmaceuticals PLC (UK), are some of the major players operating in the anesthesia drugs market.
1. Report Prologue
2.2 Scope of the Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4. Market Dynamics
4.4 Mega Trends
4.5 Macroeconomic Indicators
5. Market Factor Analysis
5.1 Value Chain Analysis
5.2 PORTERS Five Forces
5.3 demand & supply: gap analysis
5.4 Pricing Analysis
5.5 Investment Opportunity Analysis
5.6 Merger and Acquisition Landscape
5.9 Upcoming trends
5.9.1 Market trends
5.9.2 Technological trends
5.9.3 Insurance & Regulations
6. Anesthesia Drugs Market by Anesthesia Type
7. Anesthesia Drugs Market by Type of Drugs
8. Anesthesia Drugs Market by Route of administration
9. Anesthesia Drugs Market by Region
9.2.1 North America
220.127.116.11 The US
9.2.2 South America
9.3.1 Western Europe
18.104.22.168 Rest of Western Europe
9.3.2 Eastern Europe
9.4.4 South Korea
9.4.5 Rest of Asia
9.6 Rest of the World (RoW)