General Anesthesia Drugs Market Size, Share, Growth Analysis, By Route Of Administration(Inhalational (Sevoflurane, Desflurane, Isoflurane, Nitrous Oxide)), By End User(Hospitals, Ambulatory Surgery Centers), By Region - Industry Forecast 2024-2031

General Anesthesia Drugs Market size was valued at USD 5.4 billion in 2019 and is poised to grow from USD 5.59 billion in 2023 to USD 7.7 billion by 2031, growing at a CAGR of 3.5% in the forecast period (2024-2031).

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. 'AbbVie Inc.', 'AstraZeneca', 'Fresenius SE & Co. KGaA', 'Hikma Pharmaceuticals PLC', 'Hospira Inc. (Pfizer Inc.)', 'Jiangsu Nhwa Pharmaceutical Co. Ltd.', 'Merck & Co. Inc.', 'Mylan N.V.', 'Novartis AG', 'Piramal Healthcare', 'Roche Holding AG', 'Teva Pharmaceuticals', 'B. Braun Melsungen AG', 'Baxter International Inc.', 'Cardinal Health Inc.', 'Maruishi Pharmaceutical Co. Ltd.', 'Nippon Zenyaku Kogyo Co. Ltd.', 'Shandong Baolai-Leelai Bio-Tech. Co. Ltd.', 'Sun Pharmaceutical Industries Ltd.', 'Wockhardt Ltd.'

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.