NEWARK, Del, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The global general anesthesia drugs market is anticipated to reach a valuation of US$ 6.7 Bn by 2032, with sales growing at a stagnant CAGR of 3.4% from 2022 to 2032. In 2022, the general anesthesia drugs market is likely to reach an estimated US$ 4.7 Bn. The mass usage of these drugs in different surgeries coupled with an increase in cardiovascular diseases and other medical conditions fuel the growth of the general anesthesia drugs market during the forecast period.
Increasing geriatric population coupled with rising incidences of chronic illnesses have resulted in a surge in surgeries. With an increasing elderly population, a greater number of surgeries are conducted resulting in a high demand for anesthesia drugs. Furthermore, the healthcare expenditure is rising in developing and developed countries. Since, anesthesia is usually covered by health insurance for all medical procedures, the out-of-pocket cost for anesthesia for patients with medical insurance is around 10% to 50%. Hence, health insurance is advantageous for the general anesthesia market.
Ambulatory anesthesia delivers faster recovery from general anesthesia drugs, patients can leave the hospital earlier while also offering tremendous benefits to third-party payers, hospitals, healthcare providers, and patients. Again, there’s a surge in the number of ambulatory surgeries owing to constant progress in general anesthesia drugs and different techniques, along with the easy availability of short-acting anaesthetics with less side effects. This bodes well for the target market. The development of specific targeted drugs, the availability of technologically sophisticated drug delivery devices, and rising clinical trials for the development of general anesthesia drugs as well as expanding portfolio of the general anesthesia drugs will lead to the expansion of the general anesthesia drugs market during the forecast period.
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“Rising geriatric population coupled with increasing incidences of chronic diseases lead to a surge in the number of surgeries performed which in turn augments the sales of general anesthesia drugs in the global market during the forecast period,” says an FMI analyst.
Key Takeaways:
- Increasing investment in clinical trials for the development of general anesthesia drugs will strengthen the market prospects for the same.
- Side effects like amnesia, respiratory depression, high blood pressure, and others may negatively impact the market growth.
- The U.S general anesthesia drugs market will record a 2.4% CAGR during the projected period.
- Growing cancer cases drives the growth of the general anesthesia drugs market in China.
- Propofol general anesthesia drugs segment will grow at a 4.2% CAGR.
- Intravenous route of administration will grow at a 3.6% CAGR.
Competitive Landscape
Baxter International Inc., AstraZeneca, AbbVie Inc., B. Braun Melsungen AG, Fresenius SE & Co. KgaA, Pfizer, Hospira Inc., Aspen Pharmacare Holdings Limited, Hikama Pharmaceuticals plc, Abbott Laboratories, Avet Pharmaceuticals, Inc, Piramal Enterprises Limited, Par Pharmaceutical, Teva Pharmaceuticals, Viatris/Mylan, Novartis AG, GlaxoSmithKline plc, Gilead Sciences, Inc., Sanofi, Akorn, Apotex, and Heritage Pharmaceuticals Inc., among others are some of the major players in the general anesthesia drugs market profiled in the full version of the report.
Leading market players are concentrating product development and new product releases to cater to the consumer demand. These businesses employ tactics like mergers, acquisitions, partnerships, and collaborations to expand their consumer base.
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More Insights into General Anesthesia Drugs Market Report
In its latest report, FMI offers an unbiased analysis of the global general anesthesia drugs market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of drug class (propofol, sevoflurane, dexmedetomidine, desflurane, remifentanil, midazolam, others (sufentanil, fentanyl, ketamine, isoflurane, thiopental, etc.)), route of administration (intravenous anesthesia, inhaled anesthesia), end user (hospitals, ambulatory surgical centers, specialty clinics), and region.
According to the latest FMI reports, based on segmentation, the propofol general anesthesia drugs segment will dominate the market during 2022-2032. The intravenous route of administration and hospitals, in terms of end user, will also make significant contributions during the forecast period.
Based on region, the general anesthesia drugs market in Germany will exhibit substantial growth due to the availability of many lucrative opportunities. Growing geriatric population, high incidences of chronic diseases, and rising cost of healthcare will drive the market growth of the country during the forecast period.
Key Market Segments Covered in General Anesthesia Drugs Industry Research
By Drug Class:
- Propofol
- Sevoflurane
- Dexmedetomidine
- Desflurane
- Remifentanil
- Midazolam
- Others – (Sufentanil, Fentanyl, Ketamine, Isoflurane, Thiopental etc.)
By Route of Administration:
- Intravenous Anesthesia
- Inhaled Anesthesia
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/ Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Development/Innovation Trends
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