The US Anesthesia Drugs and Devices Market (by segment, Type, Drug Product, & Device Product): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)

Anesthesia refers to the use of drugs to alleviate pain during surgery and other treatments. They can be administered by injection, inhalation, topical lotion, spray, ocular drops, or a skin patch. Anesthesia can induce a loss of sensation or consciousness.

The market for anesthesia pharmaceuticals and equipment would rise in the years ahead due to a rise in the number of operations, an ageing population with a growth in chronic illnesses, and developments in anesthesia technology. The US anesthesia drugs and devices market is projected to reach US$6.83 billion in 2023, witnessing growth at a CAGR of 6.78%, during the forecasted period.

Segment Covered

By Segment: The report splits the US anesthesia drugs and devices market into two categories on the basis of segment: anesthesia drugs and anesthesia devices. The anesthesia drugs segment held maximum share in the market. On the other hand, the anesthesia devices segment is expected to grow at a significant CAGR in the forthcoming years owing to the rising healthcare expenditure in the region.

By Type: In terms of type, the US anesthesia drugs market is segmented into three segments: General, Local and other anesthesia. The General anesthesia drug segment held the largest share in the market. This was being followed by local anesthesia drugs. R&D activities in the pharmaceutical industry to formulate novel anesthesia drug is expected to provide remunerative opportunities for expansion of the US other anesthesia drugs market during forecast period.

By Device Product: On the basis of device product, the report further provides the bifurcation of the market into three segments as follows: advanced, basic and integrated. The advanced segment held highest share in the market. This was being followed by integrated anesthesia device. The constant development in the field of the anesthesia monitoring devices and high demand for the better monitoring devices are also anticipated to push the growth in the US advanced anesthesia monitoring devices market.

By Drug Product: The report also provides the categorization of the market into seven segments based on the drug product: Bupivacaine, Ropivacaine, Lidocaine, Chloroprocaine, Prilocaine, Benzocaine and Other Local Anesthetics. Lidocaine anesthesia drug segment held a major share in the market, followed by Bupivacaine, Ropivacaine. The market is anticipated to propel during forecasted years owing to the expanding patient population and the rise in medical and surgical procedures.

Top Impacting Factors

Growth Drivers

• Rising Geriatric Population
• Growing Healthcare Expenditure
• Increase in Monitored Anesthesia Use
• Increase In Number Of Approval For Anesthesia Drugs

Challenges

• Side Effects of Anesthesia
• Lack of Skilled Anesthesiologist

Trends

• Escalating Establishment of Ambulatory Surgical Centers (ASC)
• Technological Enhancement of Anesthesia Devices

Driver: Increase in Monitored Anesthesia Use

Monitored anesthesia care (MAC) has been described as a specific anesthesia service for diagnostic or therapeutic procedures performed under local anesthesia along with sedation and analgesia, titrated to a level that preserves spontaneous breathing and airway reflexes. Monitoring comprises of continuous communication with the patient, observation of parameters such as oxygenation, ventilation, circulation, temperature, as well as vigilance for local anesthesia toxicity. With increasing chronic disease and awareness of drugs usage, many patients are opting for monitored anesthesia use during their surgeries so that a satisfaction level is maintained from patients end. Usually monitored anesthesia care is the first choice in 10-30% of all the surgical procedures. Monitored anesthesia directly increases the usage of more anesthetic equipment and anesthesia as people would be satisfied with the surgical procedure leading to overall increase in the anesthesiology market.

Challenge: Side Effects of Anesthesia

Though anesthesia is always used appropriately by anesthesiologist, but sometimes it leaves side effects on patients such as nausea, headache, sullen body parts, vomiting, shivering, etc. Usually general anesthetics affect the central nervous system, patients may feel drowsy, weak, or tired for as long as a few days after having general anesthesia. Fuzzy thinking, blurred vision, and coordination problems are also possible. For these reasons, anyone who has had general anesthesia should not drive, operate machinery, or perform other activities that could endanger themselves or others for at least 24 hours, or longer if necessary. Most side effects usually disappear as the anesthetic wears off. With changing surrounding and living habits of people, they may get prone to many allergies or more side effects of anesthesia which would adversely effect the growth of anesthesiology market.

Trend: Escalating Establishment of Ambulatory Surgical Centers (ASC)

Growth of the ambulatory surgical centers is mainly driven by increasing dominance of chronic diseases and an ageing population resulting in an increase in the number of outpatient admissions in ASCs. Other factors contributing to the growth of the ambulatory surgical centers market includes an improving reimbursement and regulatory scenario for surgeries performed in ambulatory surgical centers, reduced risk of healthcare-associated infections (HAIs) in ambulatory surgical centers as compared to hospitals would augment patient visits in these facilities. These factors would escalate the demand for anesthesia drugs and devices demand in ASC’s and congruently support the growth of the market during the forecasted years.

The COVID-19 Analysis

The surge in the coronavirus virus cases worldwide resulted in the utilization of all available intensive care unit (ICU) ventilators and anesthesia machines for longer-term ventilation of COVID-19 or other critically ill patients. In hospitals, the administration of inhalation anesthetics for sedation during longer-term ventilation with anesthesia machines was also increased. The effect of COVID-19 on surgical procedures is far and wide, going from the labor force and staffing issues, procedural prioritization, and viral transmission hazard intraoperatively. Due to the emergence of the pandemic situation, demand for anesthesia drugs decreased slightly in 2020, resulting in surgeries being postponed or canceled. However, as activities resume, all of the elective surgeries that had been postponed are now being completed, increasing anesthesia drug consumption.

Analysis of Key Players

The US anesthesia drugs and devices market is competitive and consists of several major players. The key players in the US anesthesia drugs and devices market are Baxter International Inc., KKR & Co. Inc. (Envision Healthcare Corporation), Becton, Dickinson and Company, Blackstone (TeamHealth), Teleflex Incorporated, Drägerwerk AG & Co. KGaA, Braun (B. Braun Avitum AG), 3M Company, Abbvie Inc., AstraZeneca Plc, Abbott Laboratories, ICU Medical, Inc., SunMed LLC, and General Electric Company.