Anesthesia Drugs Market size is poised to reach USD 8 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of anesthesia drugs was USD 5 Billion. The primary driver of the anesthetic drugs market expansion is the increasing number of surgical procedures performed worldwide. Over 310 million critical medical procedures are performed annually worldwide, with 40–50 million occurring in the US and 20 million in Europe.
In addition, both developed and developing countries are seeing increases in healthcare costs. In developing countries, underuse of public health care is a very common occurrence. Nonetheless, improving the healthcare infrastructure in underdeveloped countries has received more attention recently. In addition to building new healthcare facilities and renovating old ones, infrastructure for human capital development and training has been increased. Due to improved access to healthcare services and growing awareness of the benefits of timely surgical treatments, the number of surgeries performed globally has also increased.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
4% |
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Base Year Market Size (2023) |
USD 5 Billion |
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Forecast Year Market Size (2036) |
USD 8 Billion |
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Regional Scope |
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Drugs (Propofol, Sevoflurane, Dexmedetomidine, Desflurane, Remifentanil, Midazolam)
The propofol segment is estimated to hold 36% share of the global anesthesia drugs market by 2036. Among the most widely used general anesthetics for surgeries, propofol is also utilized as a sedative in the intensive care unit (ICU) for patients in critical care, particularly those with COVID-19. It is employed in the beginning and continuation of general anesthesia, procedural sedation, etc.
The use of Fresenius Propoven 2% emulsion to sustain sedation in COVID-19 patients in need of mechanical breathing was approved by the US Food and Drug Administration in June 2020. Its lipophilic nature and quick onset of action with little adverse effects make it a popular choice for surgical procedures. Anesthesiologists frequently employ propofol, together with anxiolytics and analgesics, to promote sleep while allowing patients to continue breathing on their own at lower dosages. Additionally, refractory-grade epileptics can be treated with propofol. In adult patients, propofol is often used in ventilation-based sedation procedures when other drugs are not working. Furthermore, in the intensive care unit (ICU), propofol is utilized as a primary anesthetic to provide patients with deep drowsiness while they are hooked up to ventilators.
Application (Plastic Surgeries, Cosmetic Surgeries, General Surgeries, Dental Surgeries, Gynaecology Surgeries)
Based on application, the general surgeries segment in the anesthesia drugs market is predicted to hold the largest revenue share of about 30% during the projection period. Over the projected period, a large growth in the market will be seen. The market is being pushed by the number of surgeries rising, the population being older and having more chronic illnesses, and improvements in anesthesia technology. According to data from the American Society of Plastic Surgeons (ASPS), 16.3 million cosmetic minimally invasive treatments and around 1.8 million cosmetic surgical operations were carried out in the US in 2019.
Our in-depth analysis of the anesthesia drugs market includes the following segments:
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Drug Class |
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Application |
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Drugs |
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End User |
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North America Market Statistics
Anesthesia drugs market in the North America region, amongst the market in all the other regions, is anticipated to hold the largest with a share of about 33% by the end of 2036. The market for anesthetic drugs is now dominated by the United States and is expected to remain so for some decades to come. In America, the number of people suffering from chronic illnesses is rising. To treat more than half of them, surgery is required.
In the United States, the incidence of cancer has dramatically increased during the past few decades. There were just over 16.9 million cancer survivors in the United States as of January 2019, according to data from the National Cancer Institute. By 2030, there will probably be 22.2 million cancer survivors globally. The growing incidence of cancer is expected to lead to an increase in the frequency of procedures because cancer surgery offers a great chance for a cure for many tumors, especially when the cancer is limited.
European Market Analysis
The European region will also encounter huge growth for the anesthesia drugs market over the forseen period and will hold the second position owing to the pharmaceutical and medical industries have grown dramatically as a result of investments and the building of new hospitals and medical facilities in this region.
The anesthesia drugs market in Germany is still growing quickly due to the nation's rapidly developing healthcare system and expanding economy. The nation's requirement for anesthetic drugs has been significantly impacted by the introduction of new and improved anesthetic delivery techniques.
Author Credits: Radhika Gupta, Shivam Bhutani
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