Global General Anesthesia Drugs Market - 2022-2029

Market Overview

The global general anesthesia drugs market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Anesthesia is a state in which one's senses are temporarily inhibited or taken away. This allows patients to undergo surgery and other operations without experiencing the discomfort and pain that they would otherwise. There are two types of anesthesia: local anesthesia and general anesthesia. General anesthesia refers to the inhibition of sensory, motor, and sympathetic nerve transmission at the level of the brain, resulting in unconsciousness and loss of sensation. Local anesthesia refers to the inhibition of sensory, motor, and sympathetic nerve transmission within a specific location on the body, such as a tooth or the urinary bladder.

Market Dynamics

Technological developments in drug delivery devices and modifications in anesthesiology methods are two main reasons driving market expansion. Furthermore, during the projection period, the development of particularly targeted medications and patient monitoring devices that help monitor physiological parameters of patients during and after anesthesia administration and aid in minimizing anesthetic drug side effects is expected to promote market growth. Furthermore, several businesses have used product introduction and approval to strengthen their general anesthetic medicine market position.

Rising Utilization of Anaesthesia Drugs for Outpatient Procedures to Contribute Significantly to the Growth of the General Anaesthesia Drugs Market

Ambulatory anesthesia allows patients to recover quickly from general anesthesia medicines, which can be discharged sooner. It also has various advantages for healthcare practitioners, patients, third-party payers, and hospitals. Because of continual advancements in general anesthesia medicines and related procedures and the easy availability of short-acting anesthetics with minimal side effects, the number of ambulatory surgeries has been expanding at an alarming rate. Furthermore, the availability of minimally invasive surgical methods and proper discharge criteria has led to an increase in ambulatory procedures.

Furthermore, a growing number of outpatient minimally invasive diagnostic and surgical procedures necessitate the use of a huge variety of general anesthetic medicines. In these outpatient settings, general anesthetic medicines can affect both the efficacy and the cost of care. As a result of the increase in the number of procedures conducted in outpatient settings, the market for general anesthetic medications is expected to develop significantly.

Manufacturers are concentrating their efforts on the development of new anesthetic medicines. Vetoquinol, for example, will shortly release a new injectable anesthetic in conjunction with Jurox Pty. Ltd. Manufacturers are also going into various partnerships and license arrangements to ensure that their products are available worldwide. Collaboration partners seek regulatory permission to launch and commercialize their products in multiple geographies. For example, AstraZeneca and Aspen announced in September 2017 that they had reached an agreement for the remaining rights to anesthetic drugs. Furthermore, different manufacturers intend to develop and accelerate their pipeline medication portfolio to bring new general anesthetic treatments to market faster.

Furthermore,in developed countries, there has been an increase in cardiovascular diseases and an increase in the geriatric population. Cardiovascular disease (CVD) is the largest cause of death worldwide, and most CVD patients require surgery. General anesthesia is administered before surgery. General anesthesia's primary purpose is to render the patient unconscious and numb to pain during the surgical process. According to the Centers for Disease Control and Prevention (CDC), there will be 360,900 deaths in the United States related to coronary heart disease in 2019. The most frequent type of cardiovascular disease is coronary artery disease. According to the CDC, almost 18.2 million persons in the United States have coronary artery disease.This contributes to the growth of the global general anesthesia drugs market.

Risks associated with general anesthesia in pediatric patients and pregnant women

In juvenile patients, administering pharmacologic agents, such as general anesthetic medicines, necessitates extra caution. Due to various parameters, including body composition, protein binding, body temperature, cardiac output distribution, and functional maturity of the liver and kidneys, infants and young children respond to anesthetic medicines differently than adults.

According to several research, using general anesthetics and sedative medicines in pregnant and young animals for more than 3 hours has been linked to widespread nerve cell death in the brain. Recent human research demonstrates that a single, brief exposure to general anesthetics and sedatives in newborns and toddlers has little impact on behavior or learning. Has been muted. In light of this, the US Food and Drug Administration (FDA) published additional warnings in April 2017 regarding the use of general anesthetics and sedatives in children and pregnant women. Patients who require surgery or other unpleasant and stressful treatments, including small children and pregnant women, require general anesthetics and sedative medicines. The US Food and Drug Administration has issued a warning concerning the use of general anesthetics and sedative medicines in children under the age of three and pregnant women during surgeries or procedures. The possible risk associated with the use of general anesthetic medications in young children and pregnant women may cause a reduction in the use of general anesthetics by healthcare providers, stifling market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has substantially impacted the market for anesthetic medicines. Manufacturing and supply chain issues in the general anesthesia pharmaceuticals business include getting products to end-users on schedule and dealing with fluctuating product demand.

Short-term growth in the market for general anesthetic medications is negative. Due to various circumstances, including a drop in product demand from major end-users, a shortage of procedures in most hospitals, a disrupted supply chain, and difficulties providing essential services due to lockdowns. As a first response, non-essential surgical procedures were put on hold to prepare for an imminent rise in COVID-19-related inpatient hospital admissions and prevent the virus from spreading within health care institutions. The decrease in non-essential procedures has resulted in a decrease in the demand for surgical anesthesia. During the COVID-19 pandemic, however, hospitals have seen an unprecedented rise in intensive care unit (ICU) patients. According to research, 5-10% of COVID-19 patients require long-term critical care due to acute respiratory distress syndrome (ARDS). These patients frequently require substantial doses of sedatives and paralytics, which has resulted in a rise in demand for critical care medications such as anesthetic, paralytics, opioids, and vasoactive agents, particularly to support acute respiratory distress syndrome (ARDS) ventilatory techniques. As a result, COVID-19's impact on the anesthetic medicine market has been muted.

Segment Analysis

The propofol segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

Propofol is the most extensively used intravenous general anesthetic drug. Propofol is a medicine used to sedate you and keep you unconscious during surgery or other medical procedures that need general anesthesia. Propofol, along with anxiolytics and analgesics, is often used by anesthesiologists to promote sleep while allowing patients to breathe on their own at lower doses.

Propofol, a general anesthetic, is commonly used during surgeries because of its lipophilic nature and quick beginning of action with few side effects. Fresenius Kabi, Pfizer, Teva, and Sagent are among the firms that produce propofol.

Propofol is also widely used due to its numerous applications. It is often used in general anesthesia for less invasive procedures and is administered intravenously. Propofol is also used in adult mechanically ventilated sedation, procedural sedation, and status epilepticus when other medications aren't as effective.

Propofol is also used as the main anesthetic to keep COVID patients comfortable while on ventilators in the ICU for deep sedation. Desired characteristics in the production of general anesthesia and a wide range of applications are likely to account for a significant portion of the market.In addition, according to data from the Organization for Economic Cooperation and Development, the total number of coronary artery bypass grafting surgeries conducted in Germany in 2018 was 45,307. As a result, an increase in the number of emergency surgeries, widespread use of the medicine, short-acting properties, and an increase in the number of surgical procedures performed worldwide are driving the market forward.

Geographical Analysis

North America region holds the largest market share of global general anesthesia drugs market

The United States now controls the global market for general anesthetic medications and is projected to remain so in the foreseeable future. The United States is the world's largest regional market. According to the American Society of Anesthesiology, the United States had severe shortages of general anesthetic medications following the introduction of COVID-19, including Propofol, Sevoflurane, and Desflurane, among others. As a result, numerous corporations brag about their anesthetic drug manufacture. To address the demand, Hikma Pharmaceutical launched a new medicine, "Propofol Injectable Emulsion," in May 2020 in the United States.

According to the Population Reference Bureau, the number of Americans aged 65 and more is predicted to nearly double from 52 million in 2018 to 95 million by 2060, with the older age group accounting for 16 percent to 23 percent of the entire population. The aging population has resulted in a significant increase in chronic disorders among the elderly, including cardiovascular and neurological diseases, driving the rising demand for anesthetic drugs.

Propofol and other general anesthetic drugs were approved by the FDA in 2008 for monitored anesthesia care (MAC) sedation in adult patients undergoing diagnostic or therapeutic procedures. By 2022, this drug will no longer be patented. With the patent on this chemical expiring, generic medications will enter the US market, providing a tremendous growth opportunity for the key US general anesthetic pharmaceuticals industry.

As a result, the rising risk of cardiovascular illnesses, an aging population, and favorable healthcare infrastructure are driving the regional market forward to a large extent.

Competitive Landscape

The market for general anesthetic medications is fiercely competitive, with several main players. Few big firms currently dominate the market in terms of market share. On the other hand, mid-size and smaller enterprises are increasing their market share by offering novel ingredients at reduced prices as pharmaceutical approvals rise. Some of the key players which are contributing to the growth of the market include Baxter International Inc, Pfizer Inc, Piramal Enterprises Limited, AbbVie, Fresenius SE & Co.KGaA, Par Pharmaceutical, Viatris, Abbott Laboratories, Merck & Co Inc, Heritage Pharmaceuticals. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the general anesthesia drugs market globally. For instance, in May 2021, AbbVie acquired Allergan in a game-changing deal. By increasing and broadening its pharmaceutical portfolio, AbbVie will maintain leading positions in numerous major therapeutic areas, including immunology, hematologic cancer, and neurology. It also allows AbbVie to expand rapidly and commercially advance its unique scientific pipeline, which will supply patients with ground-breaking medicines in various therapeutic areas.

Key Developments

In May 2020, Hikma Pharmaceuticals PLC (Hikma, Group) announced the launch of Propofol Injectable Emulsion, USP, 20 mL, 50 mL, and 100 mL Vials in the United States through Hikma Pharmaceuticals USA Inc., following FDA approval of its additional Abbreviated New Drug Application (FDA).

In August 2020, PAION has successfully launched Remimazolam for general anesthesia in Japan, which will be marketed as Anerem.

In April 2020,Vecuronium Bromide for Injection, 10mg, has been marketed in the United States by Hikma Pharmaceuticals USA Inc, a subsidiary of Hikma Pharmaceuticals PLC (Hikma, Group).

Par Pharmaceuticals

Overview: Based in Chestnut Ridge, New York, Par Pharmaceutical creates, manufactures, and distributes safe, innovative, and cost-effective generic and branded injectable medications that help patients live better lives. Par, one of the top generics companies in the United States, has a diverse product portfolio that includes sterile injectables, alternate dosage forms, and a variety of other unique goods. Par has a strong research and development (R&D) pipeline full of potential products. Endo International plc's Par is a wholly-owned subsidiary of Endo International plc, a generics and specialty branded pharmaceutical company dedicated to providing high-quality medications to patients via innovation in discovery, manufacture, and commercialization.

Product Portfolio:

Ketalar : Ketalar (ketamine hydrochloride) Injection is an anesthetic used to induce anesthesia alone or before administering other general anesthetic agents. Ketalar is recommended as a supplement to low-potency agents such as nitrous oxide. Ketalar is a generic medication.

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