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Anesthesia Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 141 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5175628
The anesthesia drugs market was valued at USD 6,071 million in 2020, and it is expected to reach USD 7,523 million in 2026, registering a CAGR of nearly 3.64% during the forecast period.

Due to the emergence of the pandemic situation, demand for anesthesia drugs decreased slightly in 2020, resulting in surgeries being postponed or canceled. According to a study published in the British Journal of Surgery in May 2020 around 28.4 million elective surgeries worldwide were estimated to be canceled or postponed, based on a 12-week period of peak disruption to hospital services due to COVID-19. However, as activities resume, all of the elective surgeries that had been postponed are now being completed, resulting in an increase in anesthesia drug consumption.

The primary factors propelling the growth of this market are the rising number of surgeries and new anesthesia drug approvals. According to the American Society of Plastic Surgeons, in 2020, 2.3 million cosmetic surgical procedures, 13.2 million cosmetic minimally invasive procedures, and 6.8 million reconstructive procedures will be performed in the United States2020, representing a 3% increase over 2019. This indicates the rising number of surgeries, which ultimately results in the rising demand for anesthesia drugs.

Also, according to the United Nations Department of Economic and Social Affairs, by 2050, one in four persons living in Europe and Northern America could be aged 65 years or over. An increase in the elderly population has led to a steep rise in the number of chronic diseases among older people, like cardiovascular and neurological, further leading to the rising demand for anesthesia drugs.

In June 2019, Fresenius Kabi announced that Dexmedetomidine would be available immediately before and/or during surgery and other procedures. The anaesthesia drugs market is expected to grow as a result of this. The medication Hydrochloride in 0.9 percent Sodium Chloride Injection is used to sedate non-intubated patients.

Thus, all aforementoned factor such as incresing number of surgical procedures and increasing product launch boost the market over the forecast period.

Key Market Trends

The Propofol Sub-segment is Expected to Show the Fastest Growth in the General Anesthesia Drugs Segment

Propofol is one of the most commonly used general anesthetics in surgeries and is used as a sedative for critical care (including those with COVID-19) in the ICU. It is used for the initiation and maintenance of procedural sedation, general anesthesia, etc. In June 2020, the United States Food & Drug Administration approved the use of Fresenius Propoven 2% emulsion to maintain sedation in COVID-19 patients (16 years and above) requiring mechanical ventilation.

Propofol is also used for the induction maintenance of anesthesia and the management of refractory status epilepticus. The drug has been used for a long time for various types of surgical procedures that require anesthesia. The companies that manufacture propofol injections are Neon Laboratories Limited, Bharat Serums and Vaccines Limited, and Fresenius Kabi.

Furthermore, as per the study published in the British Journal of anesthesiology in May 2021, titled "Surgical activity in England and Wales during the COVID-19 pandemic: a nationwide observational cohort study", the total number of surgical procedures carried out in England and Wales in 2020 was 3,102,674. ​Hence, the increasing incidences of emergency surgeries, extensive usage of the drug, short-acting characteristics, and a rising number of surgical procedures worldwide are the major factors propelling the growth of the market.

North America Dominates the Market and is Expected to Follow the Same Trend Over the Forecast Period

North America currently dominates the anesthesia drugs market and is expected to continue its stronghold for a few more years. The United States is the largest regional market in the world. With the emergence of COVID-19, the United States faced heavy shortages of vital anesthesia drugs, particularly dexmedetomidine, midazolam, propofol, and neuromuscular blocking agents. As a result, many companies are ramping up their production of anesthesia drugs. For instance, in May 2020, Hikma Pharmaceutical introduced a new product, "Propofol Injectable Emulsion", in the United States.

Furthermore, this market is driven by the increasing number of surgeries, rising aging population with increasing chronic conditions, and advancements in anesthesia technologies. As per the statistics provided by the American Society of Plastic Surgeons (ASPS) 2019, almost 1.8 million cosmetic surgical procedures and 16.3 million cosmetic minimally-invasive procedures were performed in the United States in 2019. The demand for various anesthetics goes hand-in-hand with the surgical procedures being performed. The application of anesthetics in general surgeries is expected to contribute significantly to the growth of the market.

Moreover, new anesthesia drugs are being developed in the country, which is expected to propel the market growth. For instance, in June 2020, Medova and the New York School of Regional Anesthesia (NYSORA) entered a partnership to introduce SAFIRA (SAFer Injection for Regional Anesthesia) in the United States. Also, in January 2020, the Food & Drug Administration approved the new drug application for cocaine hydrochloride (HCI; NUMBRINO) nasal solution 4% (40 mg/mL), manufactured by Lannett Company, for anesthetic use in the United States.

Competitive Landscape

The anesthesia drugs market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with rising drug approvals, mid-size to smaller companies are expanding their market presence by introducing new ingredients with fewer prices. In April 2020, Blue-Zone Technologies Ltd received approval from Health Canada for desflurane, USP, an anesthetic drug used for general anesthesia. Companies like Baxter, Abbott Laboratories, Aspen, Fresenius SE, Roche, and B. Braun Melsungen AG hold substantial market shares in the anesthesia drugs market.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Surgeries
4.2.2 New Approvals of Anesthesia Drugs
4.2.3 Reduction in the Cost of Newly Invented Drugs
4.3 Market Restraints
4.3.1 Side Effects of General Anesthetics
4.3.2 Lack of Skilled Anesthetics
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value)
5.1 By Drug Type
5.1.1 General Anesthesia Drugs Propofol Sevoflurane Desflurane Dexmedetomidine Remifentanil Midazolam Other General Anesthesia Drugs
5.1.2 Local Anesthesia Drugs Bupivacaine Ropivacaine Lidocaine Chloroprocaine Prilocaine Benzocaine Other Local Anesthesia Drugs
5.2 By Route of Administration
5.2.1 Inhalation
5.2.2 Injection
5.2.3 Other Routes of Administration
5.3 By Application
5.3.1 General Surgery
5.3.2 Plastic Surgery
5.3.3 Cosmetic Surgery
5.3.4 Dental Surgery
5.3.5 Other Applications
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 AbbVie Inc.
6.1.2 Apsen Pharmacare Holdings Limited
6.1.3 Baxter International Inc.
6.1.4 B. Braun Melsungen AG
6.1.5 Fresenius SE & Co. KGaA
6.1.6 Pfizer Inc.
6.1.7 Teva Pharmaceutical Industries Limited
6.1.8 Dr. Reddy's Laboratories
6.1.9 Abbott Laboratories Inc.
6.1.10 Novartis AG
6.1.11 Eisai Inc.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AbbVie Inc.
  • Apsen Pharmacare Holdings Limited
  • Baxter International Inc.
  • B. Braun Melsungen AG
  • Fresenius SE & Co. KGaA
  • Pfizer Inc.
  • Teva Pharmaceutical Industries Limited
  • Dr. Reddy's Laboratories
  • Abbott Laboratories Inc.
  • Novartis AG
  • Eisai Inc.