Global General Anesthesia Drugs Market

Global General Anesthesia Drugs Market Size, Share, Growth Analysis, By Type of Drug(Propofol, Sevoflurane), By Route of Administration(Intravenous, Inhalation), By Surgery Type(Knee, hip replacements), By End-User(Hospital, Ambulatory Surgical Centres) - Industry Forecast 2022-2028


Report ID: SQSG30B2035 | Region: Global | Published Date: November, 2022 | Pages: 165

Global General Anesthesia Drugs Market Insights

Global General Anesthesia Drugs Market was valued at USD 5.15 billion in 2021 and it is expected to reach at USD 8.65 billion by 2028, at a CAGR of 3.91% over the forecast period (2022-2028).

General anaesthesia is a state of unconsciousness caused by the use of anaesthetic medications. The fundamental goal of general anaesthesia is to produce unconsciousness, analgesia, and lack of autonomic nervous system responses (ANS). IV anaesthetics are general anaesthetics that are delivered intravenously and are used for induction and short-term surgery to ease anxiety and produce amnesia. IV medications are commonly utilised in operations for cardiovascular disease (CVD) and chronic renal disease (CRD). The increased number of operations and new anaesthetic medication approvals are the key factors driving the growth of this market. According to the American Society of Plastic Surgeons, in the United States in 2020, 2.3 million cosmetic surgical treatments, 13.2 million cosmetic minimally invasive procedures, and 6.8 million reconstructive procedures will be performed, marking a 3% increase over 2019. This shows an increase in the number of procedures, which leads to an increase in the demand for anaesthetic medicines.

Furthermore, a startling 310 million major operations are conducted globally each year, according to the article 'Trauma of Major Surgery' published in the National Centre for Biotechnology Information (NCBI) in July 2020. Similarly, according to the article titled 'Incidence and Cumulative Risk of Major Surgery in Older Persons in the United States', which was published in July 2021, in the United States, nearly nine major surgeries were carried out annually for every 100 older persons, and more than one in every seven Medicare recipients underwent a major surgery over five years, portraying nearly 5 million unique older people.

Furthermore, the development and approval of innovative local anaesthetic medications is proving to be a new source of revenue for market participants. For example, in February 2021, PainPass announced the first Cannabidiol (CBD)/lidocaine product line aimed for treating chronic pain and externally numbing muscles. Hikma Pharmaceuticals PLC (Hikma) introduced Bupivacaine HCl Injection, USP in December 2021 through its US subsidiary, Hikma Pharmaceuticals United States Inc. The business has introduced 0.25%, 0.5%, and 0.75% concentrations in 10mL and 30mL dosages. Furthermore, PAION AG got permission from the United Kingdom Medicines and Healthcare products Regulatory Agency (MHRA) in June 2021 for Byfavo (remimazolam besylate) in adults for procedural sedation. As a result, all the aforementioned factors, such as the rising number of surgical operations and product introductions, will drive the market throughout the projection period.

Market snapshot

Global Market Size

USD 5.15 billion

Largest Segment

Intravenous

Fastest Growth

Intravenous

Growth Rate

3.91% CAGR

Global General Anesthesia Drugs Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global General Anesthesia Drugs Market Size By Route of Administration 2022-2028 ($ Bn)
Global General Anesthesia Drugs Market Size By Route of Administration 2022-2028 (%)

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Global General Anesthesia Drugs Market Segmental Analysis

The Global General Anesthesia Drugs market is segmented based on Type of Drug, Surgery Type, End-User, Route of Administration, and Region. Based on Type of Drug the market is segmented into Propofol, Sevoflurane, Desflurane, Others. Based on End-User the market is segmented into Hospital, Ambulatory surgical centres. Based on Surgery Type the market is segmented into Knee and hip replacements, Heart surgeries, Cancer surgery, General surgery. Based on Route of Administration the market us segmented into Intravenous, Inhalation. Based on region the global General Anesthesia Drugs market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Route of Administration

In 2021, the intravenous drugs segment is anticipated to hold the largest market share. Intravenous has a 63.3% revenue share in 2021 and is predicted to expand gradually over the projection period, with a CAGR of 3.9% by 2028. An intravenous method is used to deliver the medications directly to the systemic circulation. When rapid absorption is essential, IV injections are used, which include injecting medicine into veins using a needle.

General intravenous anaesthetic medicines are less costly and do not necessitate the use of pricey devices. Furthermore, intravenous anaesthetic medicines reduce cardiovascular depression and improve postoperative analgesia. These reasons are projected to drive this segment's growth over the forecast period.

Global General Anesthesia Drugs Market By Route of Administration, 2021 (%)

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Global General Anesthesia Drugs Market Regional Insights

North America currently dominates the anaesthetic drugs industry and is anticipated to maintain its dominance over the forecast year. The United States has the world's largest regional market. With the introduction of COVID-19, the United States experienced severe shortages of critical anaesthetic medicines, including midazolam, dexmedetomidine, propofol, and neuromuscular blocking agents. As a result, numerous corporations are increasing their anaesthetic medication manufacturing. For instance, Hikma Pharmaceutical introduced a brand-new medicine, "Propofol Injectable Emulsion," in the United States. Furthermore, this market is being pushed by an increase in the number of operations, an ageing population with an increase in chronic illnesses, and developments in anaesthetic technology.

According to the American Society of Plastic Surgeons (ASPS), about 768,000 total cosmetic treatments were performed in persons aged 10-29 years in 2020, and 6.1 million total cosmetic procedures were performed in people aged 40-54 years. These numbers show that surgical operations are rising in the region, which drives the need for anaesthetic medicines. The use of anaesthetics in general surgery is likely to contribute considerably to market growth. Furthermore, new anaesthetic medications are being developed in the nation, which is projected to drive market expansion. For example, in June 2020, Medova and the New York School of Regional Anesthesia (NYSORA) announced a collaboration to launch SAFIRA (SAFer Injection for Regional Anesthesia) in the United States. In addition, the Food and Drug Administration accepted a new drug application for cocaine hydrochloride (HCI; NUMBRINO) nasal solution 4% (40 mg/mL) made by Lannett Company for anaesthetic use in the United States in January 2020. Furthermore, Hikma Pharmaceuticals PLC (Hikma) introduced Bupivacaine HCl Injection USP in December 2021 via its US subsidiary Hikma Pharmaceuticals USA Inc. The business released 0.25%, 0.5%, and 0.75% in 10 millilitre and 30 millilitre dosages. Similarly, Blue-Zone Technologies Ltd got clearance from Health Canada in April 2020 for desflurane, USP, an anaesthetic medication used for general anaesthesia.

Global General Anesthesia Drugs Market By Geography, 2022-2028
  • Largest
  • Fastest

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Global General Anesthesia Drugs Market Dynamics

Driver

  • Cancer is becoming more prevalent

In recent decades, cancer has become much more common in the United States. The National Cancer Institute estimates that there are 16.9 million cancer survivors in the United States. The number of cancer survivors is expected to reach 22.2 million by 2030. The most common cancers are lung and bronchus cancer, breast cancer, prostate cancer, melanoma of the skin, colon and rectum cancer, bladder cancer, non-Hodgkin lymphoma, endometrial cancer, leukemia, kidney and renal pelvic cancer, pancreatic cancer, thyroid cancer, and liver cancer (listed in descending order based on estimated new cases in 2020). Prostate, lung, and colorectal cancers will account for 43% of all cancers diagnosed in men by 2020. Breast, lung, and colorectal cancer, on the other hand, accounted for more than half of all new malignancies diagnosed in women in 2020. Because cancer surgery offers the best chance of curing many tumors, particularly if the cancer is contained, the increased prevalence of cancer will result in an increase in the number of procedures. Because general anaesthesia is frequently used for surgical operations to treat cancer, the US general anaesthesia market will grow as the prevalence of cancer rises.

Restraint

  • General anaesthetic risks in paediatric patients and pregnant women

The use of pharmacologic agents, particularly general anaesthetic medicines, in paediatric patients necessitates extra caution. Infants and young children respond differently to anaesthetic medicines than adults due to a variety of characteristics such as body composition, protein binding, body temperature, cardiac output distribution, and functional maturity of the liver and kidneys. Various investigations have found that using general anaesthetics and sedative medicines in pregnant and young animals for more than 3 hours caused extensive nerve cell death in the brain. Recent human research indicates that a single, brief exposure to general anaesthetics and sedative medicines in new-borns or toddlers is unlikely to have a harmful impact on behaviour or learning. Considering this, the US Food and Drug Administration issued additional cautions about the use of general anaesthetics and sedative medicines in young children and pregnant women. Patients requiring surgery or other unpleasant and stressful treatments, including small children and pregnant women, require general anaesthetics and sedative medicines. The US Food and Drug Administration has issued a warning concerning the repeated or prolonged use of general anaesthetics and sedative medicines during operations or procedures in children under the age of three and pregnant women. The possible danger connected with the use of general anaesthetic medications in young children and pregnant women may cause a decline in the adoption of general anaesthetics by healthcare providers, stifling market growth.

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Global General Anesthesia Drugs Market Competitive Landscape

The global market for general anaesthesia drugs is extremely fragmented, with multiple rivals in the development of general anaesthetic drugs. These firms are employing techniques such as mergers and acquisitions, partnerships and collaborations, and new product releases to match consumer demand and increase their client base. Furthermore, firms operating in the market are obtaining favourable findings for the potential effect of chemicals such as general anaesthesia, which might raise market growth even further. For instance, In June 2021, PAION AG, a speciality pharmaceutical firm, received favourable findings in the European Phase III trial for Remimazolam. It is an ultra-short-acting intravenous benzodiazepine sedative/anesthetic that is licenced for procedural sedation in the United States, Europe, and China, as well as general anaesthesia in South Korea and Japan. By the end of 2021, PAION AG intends to file an extension modification to the Marketing Authorization for remimazolam as general anaesthesia. As a result, the company's actions will broaden the market perspective in numerous areas, adding to market growth.

Top Player's Company Profiles

  • Baxter International Inc. (US)
  • Hikma Pharmaceuticals plc (UK)
  • Pfizer Inc. (US)
  • Piramal Enterprises Limited (India)
  • AbbVie (US)
  • Fresenius SE & Co. KGaA (Germany)
  • Par Pharmaceutical (US)
  • Teva Pharmaceuticals (Israel)
  • Viatris/Mylan (US)
  • Novartis AG (US)
  • Abbott Laboratories (US)
  • AstraZeneca plc (US)
  • F. Hoffmann-La Roche (Switzerland)
  • GlaxoSmithKline plc (UK)
  • Gilead Sciences, Inc. (US)
  • Bayer AG (Germany)
  • Merck & Co., Inc. (Germany)
  • Sanofi (France)
  • Heritage Pharmaceuticals Inc. (US)
  • Akorn (US)
  • Apotex (Canada)

Recent Development

  • In February 2022, Sedana Medical AB has launched Sedaconda (isoflurane) in Germany. Sedaconda (isoflurane) will be approved by the European DCP In addition, in July 2021. the product has been granted national approval in 14 nations. Additional marketing clearance applications were submitted in the same year, and the business expects to gain national approvals in Italy, Poland, Switzerland, and the United Kingdom in 2022.
  • In January 2022, Akorn Operating Company LLC has agreed to sell seven branded ophthalmic products to Laboratoires Théa SAS (Théa). Théa will be able to add Akorn-branded medicines to its portfolio, including Akten (lidocaine HCl ophthalmic gel), a local anaesthetic intended for ocular surface anaesthetic during ophthalmologic operations, as a result of the strategic move.

Global General Anesthesia Drugs Key Market Trends

  • Researchers are heavily focused on anaesthetic drug research and development, which can be contributed to driving the growth of the general anaesthesia market throughout the forecast period. For example, in August 2021, researchers from the University of Michigan and the Washington University School of Medicine in St. Louis conducted experiments to determine which common anaesthetic medications will provide the best clinical outcomes and patient recovery experiences. The study comprised well-known anaesthetic medications such inhaled anaesthetics and intravenous propofol.
  • Propofol is one of the most regularly used general anaesthetics in surgery and is utilised as a sedative in the ICU for critical care patients (including those with COVID-19). It is used to initiate and maintain procedural sedation, general anaesthesia, and so forth. The US Food and Drug Administration authorised the use of Fresenius Propoven 2% emulsion to sustain sedation in COVID-19 patients (16 years and older) requiring mechanical breathing in June 2020. Propofol is also utilised for anaesthetic induction and maintenance, as well as the treatment of refractory status epilepticus. For a long time, the medicine has been utilised for numerous sorts of surgical operations that need anaesthesia. Neon Laboratories Limited, Bharat Serums and Vaccines Limited, and Fresenius Kabi are the firms that manufacture propofol injections.
  • Furthermore, according to the study "Surgical activity in England and Wales during the COVID-19 pandemic: a nationwide observational cohort study" published in the British Journal of Anaesthesiology in May 2021, the total number of surgical procedures performed in England and Wales in 2020 was 3,102,674. As a result, increased emergency surgery rates, widespread use of the medicine, short-acting properties, and an increasing number of surgical operations globally are important drivers driving market expansion.

Global General Anesthesia Drugs Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information End-Users team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, we found that North America dominates the anaesthetic drugs industry and is expected to continue its dominance over the forecast year. US has world's largest regional market. COVID-19 caused serious shortages of midazolam, dexmedetomidine, propofol, and neuromuscular blocking drugs. Many companies are growing anaesthetic drug production. Researchers are focusing on anaesthetic medication research and development, which will drive market expansion throughout the predicted period.

Report Metric Details
Market size value in 2021 USD 5.15 billion
Market size value in 2028 USD 8.65 billion
Growth Rate 3.91%
Base year 2021
Forecast period 2022-2028
Forecast Unit (Value) USD Billion
Segments covered
  • Type of Drug
    • Propofol, Sevoflurane, Desflurane, Others
  • Route of Administration
    • Intravenous, Inhalation
  • Surgery Type
    • Knee, hip replacements, Heart surgeries, Cancer surgery, General surgery
  • End-User
    • Hospital, Ambulatory Surgical Centres
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Baxter International Inc. (US)
  • Hikma Pharmaceuticals plc (UK)
  • Pfizer Inc. (US)
  • Piramal Enterprises Limited (India)
  • AbbVie (US)
  • Fresenius SE & Co. KGaA (Germany)
  • Par Pharmaceutical (US)
  • Teva Pharmaceuticals (Israel)
  • Viatris/Mylan (US)
  • Novartis AG (US)
  • Abbott Laboratories (US)
  • AstraZeneca plc (US)
  • F. Hoffmann-La Roche (Switzerland)
  • GlaxoSmithKline plc (UK)
  • Gilead Sciences, Inc. (US)
  • Bayer AG (Germany)
  • Merck & Co., Inc. (Germany)
  • Sanofi (France)
  • Heritage Pharmaceuticals Inc. (US)
  • Akorn (US)
  • Apotex (Canada)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global General Anesthesia Drugs Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global General Anesthesia Drugs Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global General Anesthesia Drugs Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global General Anesthesia Drugs Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global General Anesthesia Drugs Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global General Anesthesia Drugs Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

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FAQ's

Global General Anesthesia Drugs Market was valued at USD 5.15 billion in 2021 and it is expected to reach at USD 8.65 billion by 2028, at a CAGR of 3.91% over the forecast period (2022-2028).

The global market for general anaesthesia drugs is extremely fragmented, with multiple rivals in the development of general anaesthetic drugs. These firms are employing techniques such as mergers and acquisitions, partnerships and collaborations, and new product releases to match consumer demand and increase their client base. Furthermore, firms operating in the market are obtaining favourable findings for the potential effect of chemicals such as general anaesthesia, which might raise market growth even further. For instance, In June 2021, PAION AG, a speciality pharmaceutical firm, received favourable findings in the European Phase III trial for Remimazolam. It is an ultra-short-acting intravenous benzodiazepine sedative/anesthetic that is licenced for procedural sedation in the United States, Europe, and China, as well as general anaesthesia in South Korea and Japan. By the end of 2021, PAION AG intends to file an extension modification to the Marketing Authorization for remimazolam as general anaesthesia. As a result, the company's actions will broaden the market perspective in numerous areas, adding to market growth.'Baxter International Inc. (US)','Hikma Pharmaceuticals plc (UK)','Pfizer Inc. (US)','Piramal Enterprises Limited (India)','AbbVie (US)','Fresenius SE & Co. KGaA (Germany)','Par Pharmaceutical (US)','Teva Pharmaceuticals (Israel)','Viatris/Mylan (US)','Novartis AG (US)','Abbott Laboratories (US)','AstraZeneca plc (US)','F. Hoffmann-La Roche (Switzerland)','GlaxoSmithKline plc (UK)','Gilead Sciences, Inc. (US)','Bayer AG (Germany)','Merck & Co., Inc. (Germany)','Sanofi (France)','Heritage Pharmaceuticals Inc. (US)','Akorn (US)','Apotex (Canada)'

Cancer is becoming more prevalent

Researchers are heavily focused on anaesthetic drug research and development, which can be contributed to driving the growth of the general anaesthesia market throughout the forecast period. For example, in August 2021, researchers from the University of Michigan and the Washington University School of Medicine in St. Louis conducted experiments to determine which common anaesthetic medications will provide the best clinical outcomes and patient recovery experiences. The study comprised well-known anaesthetic medications such inhaled anaesthetics and intravenous propofol.

North America currently dominates the anaesthetic drugs industry and is anticipated to maintain its dominance over the forecast year. The United States has the world's largest regional market. With the introduction of COVID-19, the United States experienced severe shortages of critical anaesthetic medicines, including midazolam, dexmedetomidine, propofol, and neuromuscular blocking agents. As a result, numerous corporations are increasing their anaesthetic medication manufacturing. For instance, Hikma Pharmaceutical introduced a brand-new medicine, "Propofol Injectable Emulsion," in the United States. Furthermore, this market is being pushed by an increase in the number of operations, an ageing population with an increase in chronic illnesses, and developments in anaesthetic technology.

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Global General Anesthesia Drugs Market

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