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Global Anaesthesia Drugs Market to Grow at a CAGR of 3.4% During 2021-2026, Aided by the Increasing Number of Surgical Procedures

According to a new report by EMR titled, ‘Global Anaesthesia Drugs Market Report and Forecast 2021-2026’, the market attained a value of nearly USD 5.91 billion in 2020. The anaesthesia drugs industry is further expected to grow at a CAGR of 3.4% between 2021 and 2026 to reach USD 7.22 billion by 2026.

The global anaesthesia drugs industry has been driven by the increased number of surgical procedures owing to the rising prevalence of cancer, gastrointestinal diseases, leukemia, and osteogenesis imperfecta, among others. This trend is likely to continue throughout the forecast period, thereby propelling the demand for anaesthesia drugs. 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. North America is likely to account for a significant share in the forecast period. This can be attributed to the presence of advanced healthcare infrastructures and drug delivery systems in North America. The infrastructure enhancement of surgical centres in the United States and Canada is expected to further aid the market in the region. Some of the major players in the industry include Pfizer Inc. (NYSE: PFE) and Baxter International, Inc (NYSE: BAX).

The patent expiry of Lusedra, an intravenous sedative-hypnotic agent, is likely to create enhanced opportunities for the growth of the general anaesthesia drugs segment. Lusedra is used as a sedative for adult patients aged between 18-45 years, undergoing diagnostic or therapeutic procedures. Its patent will expire by 2022. Thus, such developments are expected to increase R&D and new drug approvals, further aiding the anaesthesia drugs industry growth.

On 12 May 2020, Hikma Pharmaceuticals PLC (LON: HIK) announced the launch of Propofol Injectable Emulsion, USP, 20 mL, 50 mL, and 100 mL vials in the United States, after receiving approval from the U.S Food and Drug Administration (FDA). Indicated for the initiation and maintenance of sedation and anesthesia, Propofol Injectable Emulsion witnessed a surge in demand due to the increased need for anaesthetics, pain medicines, and sedatives, among others amidst the COVID-19 pandemic. This factor is expected to further bolster the demand growth in the forecast period.

Market Breakup by Route of Administration, Drug Type, Application, and Region:

  • The market is segmented based on route of administration into inhalation and injection.
  • The major drug types available in the industry include general drug and local drug. While the general drug segment is further divided into propofol, sevoflurane, desflurane, dexmedetomidine, remifentanil, midazolam, and others, the local drug segment is further categorised into bupivacaine, ropivacaine, lidocaine, chloroprocaine, prilocaine, benzocaine, and others. 
  • The significant applications of the product include general surgery, plastic surgery, cosmetic surgery, and dental surgery, among others.
  • Region-wise, the global market for anaesthesia drugs can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for anaesthesia drugs is being driven by the increasing number of surgical procedures owing to the rising prevalence of diseases like cancer, gastrointestinal diseases, leukemia, and osteogenesis imperfecta, among others.
  • The market is expected to be aided by the increasing product demand for dental applications. 
  • The growing research and development activities and new drug approvals are expected to provide a further impetus to the market growth.  
  • The market growth is likely to be bolstered by the growing technological advancements in the healthcare infrastructure, particularly in emerging economies.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for anaesthesia drugs for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the routes of administration, drug types, applications, and regions of anaesthesia drugs.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global anaesthesia drugs market are Pfizer Inc., Fresenius SE & Co. KGaA, Baxter International, Inc., AbbVie Inc., B. Braun Melsungen AG, and Piramal Enterprises Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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