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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:
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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.
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