Market Research Report
General Anesthesia Drugs Market By TYPE OF DRUGS, By ROUTE OF ADMNISTRATION, By SURGERY TYPE, By END USER : Global Opportunity Analysis and Industry Forecast, 2021-2031
|General Anesthesia Drugs Market By TYPE OF DRUGS, By ROUTE OF ADMNISTRATION, By SURGERY TYPE, By END USER : Global Opportunity Analysis and Industry Forecast, 2021-2031|
Published: May 1, 2022
Allied Market Research
Content info: 284 Pages
Delivery time: 2-3 business days
The general anesthesia drug market was valued at $5,400.5 million in 2021, and is projected to reach $7,736.3 million by 2031, registering a CAGR of 3.5% from 2022 to 2031. General anesthesia is a combination of medication which causes sleep-like state before a surgery or other medical procedure. Under general anesthesia patient does not feel pain because patient is completely in unconscious state. General anesthesia is given with the combination of intravenous and inhalation anesthesia drugs. There are many equipment specifically designed for different surgical procedures. These include anesthetic vaporizer that is used as a vaporizing anesthetic; nasal oxygen set for delivering oxygen and others. Some intravenous drugs such as propofol, etomidate, and ketamine are intravenous sedative hypotonic agents which are given in general anesthesia. Sevoflurane and desflurane are inhalation general anesthesia drugs which are used during surgical procedure.
The general anesthesia drug market is majorly driven by increase in number of surgical procedures like hip and knee replacement surgery, cardiac surgery, general surgeries cancer surgeries, rise in number of geriatric population, increase in prevalence of osteoarthritis disease, and neurological disorder. Moreover increase in number of key players to formulate general anesthesia drug, propels the growth of the market. According to the rheumatology advisor, the annual number of total knee arthroplasty was predicted to increase by 56% from 2019 to 2020. The demand for general anesthesia increases due to an increase in the number of knee arthroplasty surgery procedures. The knee and hip replacement procedures are majorly conducted under general anesthesia. Increase in prevalence of chronic disease, such as cardiovascular disease, cancer, and others is one of the major factor that boosts the growth of the market. According to the Centers for disease control and prevention (CDC) approximately 659,000 population in the U.S. experienced death from heart disease each year. According to the same report in 2019, a total of 360,900 people died due to coronary heart disease. Every year in the U.S. approximately 805,000 population are diagnosed with heart attack among which 605,000 experienced their first heart attack. This factor upsurges the need for heart surgery, which further increases the need for general anesthesia.
On the contrary, risk associated with general anesthesia such as allergic reaction, nausea, and vomiting is anticipated to hinder the market growth during the forecast period. Advancement in R&D activities in general anesthesia in pharmaceutical and biotechnology sector propels the growth of the market. Rise in funding from government or non-government organization to provide surgical resources, encourages many key players to enter emerging markets, thus offering a lucrative growth opportunity in the general anesthesia drug market.
The general anesthesia drug market is segmented into type of drug, route of administration, surgery type, end user, and region. By type of drug, the market is categorized into propofol, sevoflurane, desflurane and other. Further the others segment is studied under ketamine, thiopental, methohexital, etomidate, isoflurane, and fospropofol. By route of administration, the market is bifurcated into intravenous and inhalation. By surgery, the market is divided into knee & hip replacements, heart surgeries, cancer surgery, and general surgery. By end user the market is classified into hospital and ambulatory surgical centers. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the general anesthesia drug market are AbbVie, AstraZeneca, Avet Pharmaceuticals Inc. B. Braun Melsungen, Baxter International Inc., Fresenius SE & Co. KGaA, Hikma Pharmaceuticals PLC, PAION AG, Abbott, and Pfizer.
Key Benefits For Stakeholders
By TYPE OF DRUGS
By ROUTE OF ADMNISTRATION
By SURGERY TYPE
By END USER