Global Etomidate Market Highlights 2022 – 2030
The global etomidate market is estimated to garner a sizeable revenue and grow at a moderate CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed primarily to the increasing demand for effective anesthetic drugs, and growing research and development activities associated with the development of drugs for cardiovascular diseases. Along with these, etomidate is widely used in animal testing and experiments. With the rise in the number of tests being conducted on animals, the demand for the product is expected to witness a surge in the upcoming years. In 2019, the United States alone used more than 790,000 animals for research. Out of these, guinea pigs were used the most, accounting for the largest share of around 25 percent. Furthermore, removal of epileptogenic centers from the brain during speech lateralization also involves deployment of the product, which in turn is projected to offer ample growth opportunities to the market in the near future.
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The market is segmented by end-user into hospitals, clinics, ambulatory surgical centers, and others, out of which, the ambulatory surgical centers segment is anticipated to hold the largest share in the global etomidate market. This can be accounted to the high usage of etomidate during incidences of trauma and cardiovascular emergencies. Additionally, on the basis of product type, the fat emulsion segment is assessed to acquire the largest share during the forecast period, which can be credited to the lesser side effects associated with drug administration via fat emulsion formulation. Apart from this, fat emulsions play an important role in energy metabolism and storage during operations, which is also predicted to boost the growth of the market segment in the years to come.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Etomidate Market Regional Synopsis
On the basis of geographical analysis, the global etomidate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period largely on the back of the favorable government policies regarding the use of etomidate in medical procedures in the region. In addition, rapidly growing healthcare infrastructure is also expected to drive the market growth in the region in the coming years. Moreover, the market in North America is projected to gather the largest share during the forecast period ascribing to the increasing prevalence of cardiovascular diseases, and increasing number of surgical procedures in the region. According to the Agency for Healthcare Research and Quality, there were a total of 9,605,000 inpatient stays for any operation room procedure in the United States in 2018, out of these 8,425,900 stays were for principal or procedures.
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The global etomidate market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global etomidate market includes the following segments:
By Product Type
- Induction Agent
- Fat Emulsion
By End-User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
Growth Drivers
- Increasing Demand for Effective Anesthetic Drugs
- Growing Research and Development Activities for the Development of Drugs for Cardiovascular Diseases
Challenges
- Side-Effects Related to the Use of Etomidate
- Strict Government Regulations for the Administration of the Drug
Top Featured Companies Dominating the Market
- Caplin Steriles Limited
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- AuroMedics Pharma LLC
- Avet Pharmaceuticals Inc
- Merck KGaA
- Shanghai Fosun Pharmaceutical Co., Ltd.
- Cadila Healthcare Limited
- Mylan N.V.
- Hikma Pharmaceuticals plc
- B. Braun Melsungen AG
