The global anaesthesia drugs market stood at a value of nearly USD 5.91 billion in 2020. The market is further expected to grow at a CAGR of 3.4% in the forecast period of 2021-2026 to attain a value of almost USD 7.22 billion by 2026. As per the analysis by Expert Market Research, the market is further expected to be driven by the rising demand for local drugs in various applications, particularly dental surgeries.
The increased number of surgical procedures due to the rising prevalence of cancer, gastrointestinal diseases, and leukaemia, are boosting the growth of global anaesthesia drugs industry. Meanwhile, the increasing demand for root canal treatments, orthodontic treatments, and apicoectomy, among others, owing to the growing awareness about dental health, is likely to aid the market growth over the forecast period.
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The major players in the global anaesthesia drugs market, including Fresenius SE & Co. KGaA (ETR: FRE), Baxter International, Inc. (NYSE: BAX), and AbbVie Inc. (NYSE: ABBV). In 2020, Fresenius introduced its first medications with smart labels embedded with radio-frequency identification technology. The first RFID smart-labeled product, Diprivan (Propofol) 200 mg per 20 mL (10 mg per mL) Injectable Emulsion, USP, was introduced in the US. In 2020, AbbVie acquired Allergan to expand its product offerings in key therapeutic areas, including oncology, neuroscience, and anaesthetics. In July 2020, Baxter announced a partnership with Zeosys medical to bring innovative, environmentally friendly anaesthesia gas recapture technology to hospitals. Such developments in the industry are expected to help in market expansion over the forecast period.
Headquarters: New York, United States
Pfizer Inc. is an American pharmaceutical firm that specialises in immunology, cancer, cardiology, endocrinology, and neurology. The company’s total employee size of 78,500, of which 29,400 are in the United States. The company has several products that each generate more than USD 1 billion in annual revenues. In the year 2020 its USD 41.908 billion.
Headquarters: Bad Homburg vor der Höhe, Germany
Fresenius SE & Co. KGaA is a medical device manufacturer. It offers dialysis products and services in hospitals, as well as inpatient and outpatient medical treatment. The corporation employs a total of 3,11,269 people as of 2020. In the year 2019, the company generated €35.524 billion in revenue. The company has a number of subsidiaries, including Fresenius Kabi, HELIOS Kjinjken, and others.
Headquarters: Deerfield, Illinois, United States
Baxter International Inc., an American multinational health care company, primarily focuses on treating haemophilia, immune disorders, kidney disease, and other chronic and acute medical conditions. The company has a total employee size of 48,000, as of 2017. The corporation had annual revenue of 1,056.1 crores USD in the year 2017. Company has many subsidiaries, including Gambro, Baxter S.p.A., and Baxter S.A.S., etc.
Headquarters: North Chicago, Illinois, United States
AbbVie, an American publicly traded biopharmaceutical company, was originated as a spin-off of Abbott Laboratories. The company has a total employee size of 47,000 as of 2020. The corporation had annual revenue of USD 4,580.4 crores in the year 2020. Company has several subsidiaries, including Allergan, Pharmacyclics, and AbbVie GK, etc.
Headquarters: Melsungen, Central Germany
B. Braun is a German company which deals in medical and pharmaceutical device. By 2018, the company had a total employee size of more than 63,000 globally. Further, the company has offices and production facilities in more than 60 countries. The corporation had annual revenue of 690.81 crores EUR in the year 2018. The company has a number of subsidiaries, including Aesculap AG, and B. Braun Medical Inc., etc. The parent organisation of this company is B. Braun Holding GmbH & Co. KG.
Headquarters: Mumbai , India
The Piramal Group is a conglomerate company that has a presence across various sectors, such as healthcare, drug discovery, life sciences, healthcare information management, financial services, and real estate. The company has a total employee size of over 3,880 across all of its locations and generates USD 1.81 billion in sales. The company has a number of subsidiaries, including Dewan Housing Finance Corporation, Piramal Glass, and Piramal Foundation.
Also Read: Global Anaesthesia Drugs Market to Grow at a CAGR of 3.4% During 2021-2026, Aided by the Increasing Number of Surgical Procedures
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