Market Research Report
Local Anesthesia Drugs Market with COVID-19 Impact Analysis, By Product, By Application, and By Region - Size, Share, & Forecast from 2021-2027
|Local Anesthesia Drugs Market with COVID-19 Impact Analysis, By Product, By Application, and By Region - Size, Share, & Forecast from 2021-2027|
Published: January 1, 2021
AnalystView Market Insights
Content info: 250 Pages
Delivery time: 2-3 business days
The global Local Anesthesia Drugs market was valued at USD 5.61 billion in 2020, growing with 4.6% CAGR during the forecast period, 2021-2027.
Local anesthesia restricts the transmission of nerve tissue impulses from one region to the spinal cord. These local anesthesia drugs are safe to use and have lower side effects when compared with other anesthesia drugs. The local anesthesia drugs market is estimated to foresee significant growth in the next few years, owing to the growing number of surgeries, procedures including cosmetic, dental, and plastic surgery. In addition, a growing focus on pain relief solutions with surgical procedures is expected to boost the market growth. Around 65.0% of overall surgical procedures need postoperative pain management. This factor is projected to increase the demand for anesthesia drugs over the forecast period. Moreover, the rising prevalence of chronic, neurological disorders along with the aging population is expected to positively impact market growth.
The introduction of advanced novel drugs such as Articaine, Ropivacaine, and Levobupivacaine is estimated to fuel the market growth. Further, the increasing healthcare spending across the countries like China, India, and Brazil is also contributing to market growth. In 2017, according to the Center for Disease Control & Prevention (CDC), over 51.0 million impatient, and outpatient surgeries had been performed in the U.S. This is expected to increase obstetrical, cardiology, and surgical operation. In addition, the rising number of surgeries of procedures including cochlear implantation, knee replacement, hip replacement is projected to foster the demand for anesthesia drugs. All these factors are expected to bolster the demand for advanced drugs in the medical industry. In the U.K., according to the Royal College of Surgeons, there has been increasing of 27.0% in surgical procedures between 2003-04 to 2013-14.
North America held the largest market share in 2019. The increasing number of surgeries in the countries like U.S., and Canada is driving the market growth. The U.S. contributes to over 25.0% of total surgical procedures across the world. In addition, the higher income level, and developed healthcare infrastructure is expected to bode well with market growth. In addition, the growing older adult population is also boosting the demand for anesthesia drugs. Europe was the second-largest market in 2019, owing to factors such as advancement in dental and cosmetic surgeries Asia Pacific is estimated to expand at a significant rate over the forecast period.
The local anesthesia drugs market is competitive in nature, characterized by the presence of international as well as domestic companies. Key players including Aspen Pharmacare, Novartis, and Sagent Pharmaceutical are holding the majority of the market share. Key players in the market engage in new product development, and advanced technology-driven devices to enhance their product line. GlaxoSmithKline and AstraZeneca have collaborated to form Aspen Pharmacare.
Key features of the study:
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LOCAL ANESTHESIA DRUGS MARKET KEY PLAYERS
GLOBAL LOCAL ANESTHESIA DRUGS MARKET, BY PRODUCT
GLOBAL LOCAL ANESTHESIA DRUGS MARKET, BY APPLICATION
GLOBAL LOCAL ANESTHESIA DRUGS MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures