What is the global market size of the General Anesthesia Drugs Market?

Global General Anesthesia Drugs Market size was valued at USD 5.4 billion in 2021 and is poised to grow from USD 5.59 billion in 2022 to USD 7.7 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).

What is the key driver of the Global General Anesthesia Drugs Market?

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.

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 2024-2031

Report ID: SQSG30B2035 | Region: Global | Published Date: February, 2024
Pages: 260 | Tables: 118 | Figures: 77

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 Report Snapshots

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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.

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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 2024-2031

Global General Anesthesia Drugs Market Regional Insights

Global General Anesthesia Drugs Market Report Snapshots

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