The demand for anesthetic drugs observed a slight decline in 2020 due to the emergence of the pandemic situation, leading to delayed or canceled surgeries. According to the study published in the British Journal of Surgery, in May 2020, based on a 12-week period of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide was estimated to be canceled or postponed in 2020. However, as the activities are resuming, all the elective surgeries that were held up are also being performed now, thereby rising the consumption of anesthetic drugs.

Furthermore, the primary factors propelling the growth of this market are the rising number of surgeries and new anesthetic drug approval. According to the International Society of Aesthetic Plastic Surgery report, in 2019, the volume of plastic surgeries performed globally observed an increase of about 7.4% in comparison to the last year (2018). 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 or over. An increase in the elderly population has led to a steep increase in the number of chronic diseases in the elderly like cardiovascular, neurological further leading to the rising demand for anesthesia drugs.

Moreover, in June 2019, Fresenius Kabi announced the immediate availability of Dexmedetomidine Hydrochloride in 0.9% Sodium Chloride Injection, a medication for sedation of non-intubated patients before and/or during surgical and other procedures. Hence, this is expected to propel the growth of the anesthesia drugs market.

Free Sample report for this report is available :- https://www.statzyreports.com/report/sr497785/anesthesia-drugs-market

Key Market Trends

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 anesthetic drugs in surgeries and 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 for maintaining sedation for COVID-19 patients (16 years and above) requiring mechanical ventilation.

Propofol is also used for the and 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 the propofol injections are Neon Laboratories Limited, Bharat Serums and Vaccines Limited, and Fresenius Kabi.

Furthermore, according to the as per data provided by Organization Economic Co-operation and Development, in Germany, the total number of coronary artery bypass grafting procedures performed were 45,307 in 2018. ​Hence with the increasing incidences of emergency surgeries, extensive usage of the drug, short-acting characteristic and a growing 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 anesthesia is the largest regional market in the world. With the emergence of COVId-19, the is the United States faced heavy shortages of vital anesthetic drugs, particularly, dexmedetomidine, midazolam, propofol, and neuromuscular blocking agents. As a result, many of the 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 factors, such as 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, there are almost 1.8 million cosmetic surgical procedures and 16.3 million cosmetic minimally-invasive procedures being performed in the United States in 2019. The demand for various anesthetics goes hand-in-handwith surgical procedures that are being performed. The application of anesthetic drugs in general surgeries are expected to continue 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) went under partnership for the introduction of SAFIRA (SAFer Injection for Regional Anesthesia) in the United States. Also, in January 2020, Food & Drug Administration approved new drug application for cocaine hydrochloride (HCI; NUMBRINO) nasal solution 4% (40 mg/mL) as an anesthetic use, manufactured by Lannett Company 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 increasing their market presence by introducing new ingredients with fewer prices. In August 2020, the PAION introduced ANEREM, general anesthesia in Japan. Also, 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, AstraZeneca, Roche Holding AG, and B. Braun Melsungen AG, hold substantial market shares in the anesthesia drugs market.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

For sample report please visit : https://www.statzyreports.com/report/sr497785/anesthesia-drugs-market
Contact Us:
Poojan Dogra
Public Relations Manager
Email : [email protected]
Email : [email protected]
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com