Dublin, May 03, 2023 (GLOBE NEWSWIRE) -- The "Local Anesthesia Drugs Market by Drugs Type, Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global local anesthesia drugs market size was $2,643.50 million in 2021 and is predicted to grow with a CAGR of 6.4%, by generating a revenue of $4,724.80 million by 2031.
The global market for local anesthetic medications is expanding as a result of an increase in surgeries, particularly those related to accidents and chronic illnesses like cancer, cardiovascular disease, and orthopedic disorders.
Additionally, there are more injuries now that need medical attention. As per analysis, more than 5 million were hurt in collisions in North America and were seeking medical attention in 2020. These factors are projected to boost the local anesthesia market size during the forecast period.
In addition, the creation and approval of new local anesthetic medications is proving to be a new source of income for market participants. According to the United Nations Department of Economic and Social Affairs, one in four residents of Europe and North America maybe 65 years of age or older by 2050. Chronic illnesses like cardiovascular and neurological conditions are becoming more prevalent in older populations as a result of the growing geriatric population, which drives up the demand for local anesthesia medications.
However, the absence of healthcare facilities in undeveloped nations and distant regions, as well as the shortage of anesthesia doctors and certified anesthesia nurses per capita, are likely to hinder the expansion of the local anesthesia drugs market. Other branded drugs, lack of awareness among patients, and high costs of procedures may further restrain the expansion of this market over the predicted period.
Additionally, one or two patients out of every 1000 who receive general anesthesia during surgery may not be aware that they are partially awake. Although there is a very low likelihood that one might feel discomfort, it is possible. People who get sedative medications before surgery are unable to move, express their anguish, or alert the medical staff. It's possible that patients will experience long-term psychological issues as a result, akin to post-traumatic stress disorder. Unintentional intraoperative awareness is what this is, and it's one of the biggest issues facing the anesthesia market.
Surgical procedures are difficult and painful so as giving anesthesia, currently, research is going on to make local anesthetic application less painful. An injection of local anesthetic causes a burning sensation because it contains an acidic solution. Current research is examining the advantages of developing a more neutral solution to make the anesthetic injection procedure more pleasant. One formula under investigation involves adding sodium bicarbonate to the lidocaine and epinephrine solution.
Theoretically, this neutral local anesthetic solution offers two benefits: a less painful injection and a quicker start to desensitization. It is impossible to emphasize the value of local anesthetics. Today's surgical and dental treatments would require more invasive techniques to make patients comfortable if local anesthetics were not used. The discipline of local anesthetics will continue to advance in the never-ending hunt for pain relief with sustained research and innovation.
The key players profiled in this report include Novartis AG, Aspen Pharmacare, Sagent Pharmaceuticals, Pacira Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., Fresenius Kabi, Mylan N.V., GSK plc., AstraZeneca plc, and Hikma Pharmaceuticals plc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the local anesthesia drugs market analysis from 2021 to 2031 to identify the prevailing local anesthesia drugs market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the local anesthesia drugs market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global local anesthesia drugs market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Drugs Type
- Bupivacaine
- Ropivacaine
- Lidocaine
- Chloroprocaine
- Prilocaine
- Benzocaine
- Other local anesthetics
By Application
- Injectable
- Surface Anesthetic
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Fresenius Kabi AG
- Novartis AG
- Aspen Holdings
- Sagent Pharmaceuticals
- Pacira Pharmaceuticals, Inc.
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd.
- Pfizer Inc.
- Septodont Healthcare India Pvt. Ltd.
- Baxter International Inc.
Key Market Insights
- By drugs type, the lidocaine segment was the highest revenue contributor to the market in 2021 and bupivacaine is estimated to be the fastest growing during the forecast period.
- As per application, the injectable segment was the highest revenue contributor to the market in 2021 and surface anesthetic is projected to be the fastest growing segment during the forecast period.
- Based on region, North America was the highest revenue contributor in the market, accounting for $1,099.7 million in 2021 and is anticipated to generate a CAGR of 5.9% during the forecast period.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LOCAL ANESTHESIA DRUGS MARKET, BY DRUGS TYPE
CHAPTER 5: LOCAL ANESTHESIA DRUGS MARKET, BY APPLICATION
CHAPTER 6: LOCAL ANESTHESIA DRUGS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
Companies Mentioned
- Fresenius Kabi AG
- Novartis AG
- Aspen Holdings
- Sagent Pharmaceuticals
- Pacira Pharmaceuticals, Inc.
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd.
- Pfizer Inc.
- Septodont Healthcare India Pvt. Ltd.
- Baxter International Inc.
For more information about this report visit https://www.researchandmarkets.com/r/vzb6hc
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
