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General Anesthesia Drugs market size, share, demand
PORTLAND, OR, UNITED STATES, October 9, 2024 /EINPresswire / -- The global general anesthesia drugs market is set to grow significantly, driven by rising demand and advances in healthcare. Below is an in-depth analysis of the market's key drivers, segments, and regional outlook.
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Market Overview
.2021 Market Size: $5.4 billion
.2031 Market Projection: $7.7 billion
.CAGR: 3.5% from 2022 to 2031
Key Drivers
.Prevalence of Chronic Diseases: Rise in cases of cancer, cardiovascular diseases, and osteoarthritis increases demand for general anesthesia drugs, especially in surgeries.
.Surgical Demand: Growing number of procedures like cardiac surgeries, hip and knee replacements, and cancer surgeries.
.Government and Private Funding: Investments in R&D for anesthesia drug formulation and improvements in pharmaceutical manufacturing.
.Approvals and New Drug Launches: FDA approval of drugs like propofol injectable emulsion in 2020 boosts market growth.
Major Challenges
.Side Effects: Nausea, vomiting, and allergic reactions may limit the adoption of general anesthesia drugs.
Market Segmentation
.By Drug Type:
.Leading Segment (2021): "Others" (includes ketamine, thiopental, etc.)
.High Growth: Sevoflurane due to increased demand for inhalation anesthesia.
.By Route of Administration:
.Top Contributor: Inhalation anesthesia driven by diagnostic procedures.
.Rising Segment: Intravenous anesthesia due to open-heart surgeries.
.By Surgery Type:
.Leading: Knee and hip replacements (due to osteoarthritis and injury prevalence).
.Growth: Heart surgeries, owing to the rise in cardiovascular disease.
.By End User:
.Top Market: Hospitals (dominate due to number of facilities and government expenditure).
.Growth: Ambulatory surgical centers as more patients prefer outpatient procedures.
Regional Insights
.North America: Dominates due to high chronic disease prevalence, regulatory approvals, and R&D activities.
.Asia-Pacific: Fastest-growing region (CAGR of 4.2%), driven by increased surgical procedures and healthcare expenditures.
Key Players
.AbbVie, AstraZeneca, Baxter International Inc., Pfizer, and Hikma Pharmaceuticals PLC are among the prominent companies in the general anesthesia drugs market.
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Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.