The General Anesthesia Drugs Market is expected to be worth US$ 4.7 billion by 2022 and to increase at a CAGR of 3.4% to be worth US$ 6.7 billion by 2032. According to a recent Future Market Insights report, the Propofol drug class will command a 25.6% global market share in 2021.
“Tech advancements in drug delivery apparatus, research on patient monitoring devices, and targeted drugs for patients during and after the use of anesthesia, and reduction of side effects from modern anesthetic drugs are providing impetus to growth of the general anesthesia drugs market,” says the FMI analyst.
General Anesthesia Drugs Market – Key Takeaways
- Propofol is a highly popular general anesthesia drug, aided by low risk of side effects.
- Injectables remain the common general anesthesia drug delivery method, owing to superior efficacy properties.
- Asia Pacific is a leading market for general anesthesia drugs, owing to rising demand for surgical intervention in chronic diseases such as diabetes.
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General Anesthesia Drugs Market – Key Driving Factors
- Rising cases of cardiovascular diseases is a key factor supporting the sales of general anesthesia drugs.
- A rapidly ageing population with a wide range of chronic ailments generates demand for general anesthesia drugs.
- Investments into research for drug delivery methods and drug formulations support market growth.
General Anesthesia Drugs Market – Key Constraints
- Lack of standardization in terms of anesthesia management techniques hinders market developments.
- High cost of branded anesthetics and associated medical procedures holds back market growth.
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The Anticipated Impact of Coronavirus
Anesthetic practices have been substantially impacted by the coronavirus pandemic. Numerous clinics have had to suspend their operations, as elective medical procedures have been directed to be postponed. On the other hand, surgical interventions for aged covid-19 patients will generate opportunities, which will partially mitigate losses incurred during this crisis period.
Competition Landscape
Players in the general anesthesia drugs market include but are not limited to Abbott Laboratories, AbbVie Inc., Astra Zeneca Plc, Baxter International Inc., and Fresenius SE & C. KGaA. Developers are investing in investing in research for product development, and wider scope of application. For instance, sevoflurane has been found to improve outcomes of patients with sepsis.
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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Future Market Insights (ESOMAR-certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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