Anesthesia Drugs Market Likely Boost the Industry Revenue and Demand till 2022
Added: (Fri Feb 01 2019)
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The Global Anesthesia Drugs Market stood at USD 3.1 Bn in 2015 and is anticipated to catapult to USD 4.9 Bn by the end of 2022. As per the analysis of market Research Future (MRFR), the global anesthesia drugs market is likely to grow at a CAGR of 3.7% over the forecast period of 2015-2022.
Anesthesia drugs are used during surgeries for loss of sensation to alleviate pain. The rise in global surgical volume across the globe has added to the growth of the global anesthesia market. There has been an increase in the number of surgical procedures to manage diverse health conditions such as cardiovascular diseases, malignancy, infections, injuries, etc. Such operative procedures require anesthesia drugs for pain management and induce high demand for anesthesia drugs. Moreover, post-operative pain management is also likely to contribute to the growth of the global anesthesia drugs market.
Rise in global geriatric population is another factor contributing to the growth of the global anesthesia drugs market. The elderly populace is at more risk of acquiring cardiovascular, respiratory and other degenerative changes which often requires surgical treatments which boosts the growth of the market.
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Expanding healthcare sector in the emerging economies is expected to drive the market for anesthesia drugs. Growth in healthcare facilities would increase the number of surgeries in developing countries which would subsequently generate more demand for anesthetic drugs.
A high incidence rate of emergency medical procedures is also a crucial factor in driving the market for anesthesia drugs. Besides, the rise in the number of cosmetic surgeries, and dental procedures also add fuel to the growth of the market
Advancements in anesthesia drugs in terms of improved efficiency, additional and new mode of administration and decreased price has considerably augmented the growth of the market. However, the growth of the market might be hindered by side effects associated with anesthesia drugs such as temporary confusion, hallucination, elevation in heart rate and blood pressure, amnesia and memory loss, which is more prevalent in elderly patients. Other side effects include nausea, vomiting, sore throat, bladder problems, sleepiness, and others. Lack of skilled anesthesiologist is another crucial factor which might restrain the growth of the anesthesia drugs market.
The regional segmentation of the global anesthesia drugs market segments the market into regional markets namely The Americas (North America & South America), Europe, Asia Pacific, and rest of the world (RoW). North America region is the largest market for anesthesia drugs, and it is a market bigger than South America due to advanced medical facilities being available there. The key players of this market are also based in North America, primarily in the United States of America (USA). After the USA, Canada is the biggest market in this region.
Europe is the second largest market. Due to reasons same as the Americas, Western Europe market is bigger than the Eastern Europe market. In this region, the most important country based markets include France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Western Europe. During the forecast period, Asia Pacific region market is expected to grow at a significant rate. Medical facilities are becoming rapidly advanced in some countries like China, India, Japan, and South Korea. Hence, these countries are the crux of the Asia Pacific market, followed by the rest of the Asia Pacific region.
Key Players for Global Anesthesia Drugs Market
Market Research Future (MRFR) recognizes the following companies as the key players in Anesthesia Drugs Market: There are plenty of large and small market players which operate in this market all over the globe.
The global anesthesia drugs market is led by some prominent players such as AstraZeneca PLC (British–Swedish), Baxter International Inc. (US), Fresenius Se & Co. Kgaa (Germany), Abbott Laboratories (US), Hospira, Inc. (US), Hikma Pharmaceuticals PLC (UK), F. Hoffmann-La Roche Ltd. (Switzerland), and AbbVie Inc. (US).
Segmentation
The global anesthesia drugs market has been segmented based on type of anesthesia, type of drugs and route of administration.
By type of anesthesia, the market has been segmented into general anesthesia, regional anesthesia, and others. By type of drugs, the market has been segmented into general anesthetics, local anesthetics, and others. By route of administration, the market has been segmented into inhalation, intravenous, and others.
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