The general anesthesia drug market was valued at $5,400.5 million in 2021, and is projected to reach $7,736.3 million by 2031, registering a CAGR of 3.5% from 2022 to 2031. General anesthesia is a combination of medication which causes sleep-like state before a surgery or other medical procedure. Under general anesthesia patient does not feel pain because patient is completely in unconscious state. General anesthesia is given with the combination of intravenous and inhalation anesthesia drugs. There are many equipment specifically designed for different surgical procedures. These include anesthetic vaporizer that is used as a vaporizing anesthetic; nasal oxygen set for delivering oxygen and others. Some intravenous drugs such as propofol, etomidate, and ketamine are intravenous sedative hypotonic agents which are given in general anesthesia. Sevoflurane and desflurane are inhalation general anesthesia drugs which are used during surgical procedure.
The general anesthesia drug market is majorly driven by increase in number of surgical procedures like hip and knee replacement surgery, cardiac surgery, general surgeries cancer surgeries, rise in number of geriatric population, increase in prevalence of osteoarthritis disease, and neurological disorder. Moreover increase in number of key players to formulate general anesthesia drug, propels the growth of the market. According to the rheumatology advisor, the annual number of total knee arthroplasty was predicted to increase by 56% from 2019 to 2020. The demand for general anesthesia increases due to an increase in the number of knee arthroplasty surgery procedures. The knee and hip replacement procedures are majorly conducted under general anesthesia. Increase in prevalence of chronic disease, such as cardiovascular disease, cancer, and others is one of the major factor that boosts the growth of the market. According to the Centers for disease control and prevention (CDC) approximately 659,000 population in the U.S. experienced death from heart disease each year. According to the same report in 2019, a total of 360,900 people died due to coronary heart disease. Every year in the U.S. approximately 805,000 population are diagnosed with heart attack among which 605,000 experienced their first heart attack. This factor upsurges the need for heart surgery, which further increases the need for general anesthesia.
On the contrary, risk associated with general anesthesia such as allergic reaction, nausea, and vomiting is anticipated to hinder the market growth during the forecast period. Advancement in R&D activities in general anesthesia in pharmaceutical and biotechnology sector propels the growth of the market. Rise in funding from government or non-government organization to provide surgical resources, encourages many key players to enter emerging markets, thus offering a lucrative growth opportunity in the general anesthesia drug market.
The general anesthesia drug market is segmented into type of drug, route of administration, surgery type, end user, and region. By type of drug, the market is categorized into propofol, sevoflurane, desflurane and other. Further the others segment is studied under ketamine, thiopental, methohexital, etomidate, isoflurane, and fospropofol. By route of administration, the market is bifurcated into intravenous and inhalation. By surgery, the market is divided into knee & hip replacements, heart surgeries, cancer surgery, and general surgery. By end user the market is classified into hospital and ambulatory surgical centers. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the general anesthesia drug market are AbbVie, AstraZeneca, Avet Pharmaceuticals Inc. B. Braun Melsungen, Baxter International Inc., Fresenius SE & Co. KGaA, Hikma Pharmaceuticals PLC, PAION AG, Abbott, and Pfizer.
The general anesthesia drug market is majorly driven by increase in number of surgical procedures like hip and knee replacement surgery, cardiac surgery, general surgeries cancer surgeries, rise in number of geriatric population, increase in prevalence of osteoarthritis disease, and neurological disorder. Moreover increase in number of key players to formulate general anesthesia drug, propels the growth of the market. According to the rheumatology advisor, the annual number of total knee arthroplasty was predicted to increase by 56% from 2019 to 2020. The demand for general anesthesia increases due to an increase in the number of knee arthroplasty surgery procedures. The knee and hip replacement procedures are majorly conducted under general anesthesia. Increase in prevalence of chronic disease, such as cardiovascular disease, cancer, and others is one of the major factor that boosts the growth of the market. According to the Centers for disease control and prevention (CDC) approximately 659,000 population in the U.S. experienced death from heart disease each year. According to the same report in 2019, a total of 360,900 people died due to coronary heart disease. Every year in the U.S. approximately 805,000 population are diagnosed with heart attack among which 605,000 experienced their first heart attack. This factor upsurges the need for heart surgery, which further increases the need for general anesthesia.
On the contrary, risk associated with general anesthesia such as allergic reaction, nausea, and vomiting is anticipated to hinder the market growth during the forecast period. Advancement in R&D activities in general anesthesia in pharmaceutical and biotechnology sector propels the growth of the market. Rise in funding from government or non-government organization to provide surgical resources, encourages many key players to enter emerging markets, thus offering a lucrative growth opportunity in the general anesthesia drug market.
The general anesthesia drug market is segmented into type of drug, route of administration, surgery type, end user, and region. By type of drug, the market is categorized into propofol, sevoflurane, desflurane and other. Further the others segment is studied under ketamine, thiopental, methohexital, etomidate, isoflurane, and fospropofol. By route of administration, the market is bifurcated into intravenous and inhalation. By surgery, the market is divided into knee & hip replacements, heart surgeries, cancer surgery, and general surgery. By end user the market is classified into hospital and ambulatory surgical centers. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the general anesthesia drug market are AbbVie, AstraZeneca, Avet Pharmaceuticals Inc. B. Braun Melsungen, Baxter International Inc., Fresenius SE & Co. KGaA, Hikma Pharmaceuticals PLC, PAION AG, Abbott, and Pfizer.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the general anesthesia drugs market analysis from 2021 to 2031 to identify the prevailing general anesthesia drugs market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the general anesthesia drugs market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global general anesthesia drugs market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By TYPE OF DRUGS
- Propofol
- Sevoflurane
- Desflurane
- Others
By ROUTE OF ADMNISTRATION
- Intravenous
- Inhalation
By SURGERY TYPE
- Knee and hip replacements
- Heart surgeries
- Cancer surgery
- General surgery
By END USER
- Hospital
- Ambulatory surgical centers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- B. Braun Melsungen
- Baxter International Inc.
- Fresenius SE and Co. KGaA
- Hikma Pharmaceuticals plc
- Paion AG
- Pfizer Inc.
- Abbott Laboratories
- Abbvie Inc
- AstraZeneca plc
- Avet Pharmaceuticals Inc
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GENERAL ANESTHESIA DRUGS MARKET, BY Type of Drugs
CHAPTER 5: GENERAL ANESTHESIA DRUGS MARKET, by Route of Administration
CHAPTER 6: GENERAL ANESTHESIA DRUGS MARKET, by Surgery Type
CHAPTER 7: GENERAL ANESTHESIA DRUGS MARKET, by End-user
CHAPTER 8: GENERAL ANESTHESIA DRUGS MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'General Anesthesia Drugs Market,' the general anesthesia drugs market size was valued at $5.4 billion in 2021, and is estimated to reach $7.7 billion by 2031, growing at a CAGR of 3.5% from 2022 to 2031. General anesthesia drug is defined as state of controlled unconsciousness in which the anesthesiologist administers drug through a mask or an intravenous catheter placed in the vein. Mostly general anesthesia is used in long operations and painful surgical procedures. The primary goal of general anesthesia is to make a patient unconscious and unable to feel painful stimuli. The five main types of anesthetic agents include intravenous anesthetics, inhalational anesthetics, IV sedatives, synthetic opioids, and neuromuscular blocking. General anesthesia is most commonly used for major operations such as knee replacement surgery, hip replacement surgery, heart surgery, cancer surgery, and gastro-intestinal surgery.Factors that drive the growth of the general anesthesia drugs market share include increase in number of surgical procedure, rise in prevalence of cancer, surge in geriatric population, and increase in number of manufacture to develop general anesthesia drugs. According to the Journal of JAMA Netw Open, in December 2021, around 5. 9 million population were reported to have undergone surgical procedure in the U.S. This factor is expected to propel the general anesthesia drugs market growth.
Moreover, increase in the geriatric population causes rise in the number of surgeries which drives the general anesthesia drugs market trends. As the geriatric population are more prone to cardiovascular disease which leads to increase in the number of cardiac surgeries. Increase in the number of osteoporosis in old age people leads to increase in the number of knee and hip replacement surgeries. According to the World Health Organization (WHO) in October 2021, by 2030, 1 in 6 population in the world will be aged 60 years or over. Moreover, according to the Journal of JAMA Netw Open, in 2021, about 32% of surgical procedure in the U.S were reported to have conducted in patients aged more than 65 years. Thus geriatric population is more prone to surgical procedure.
Increase in the number of general anesthesia drugs industry who manufacture general anesthesia propels the growth of the market. For instance, in April 2020, Hikma pharmaceutical Plc, a pharmaceutical company, announced the launch of vecuronium bromide for Injection, which is a new general anesthesia drug. It is indicated as an adjunct to general anesthesia, to facilitate endotracheal intubation and to provide skeletal muscle relaxation during surgery or mechanical ventilation. Moreover, in May 2020, Hikma, also announced the launch of propofol injectable emulsion which is an intravenous general anesthesia drug used in surgical procedure.
The general anesthesia drug market is segmented on the basis type of drug, route of administration, surgery type, end user, and region.
On the basis of type of drug, the market is classified into propofol, sevoflurane, desflurane and others. The others segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in the launch of novel general anesthesia drugs, and increase in number of approval for general anesthesia drugs.
On the basis of route of administration, the market is classified into intravenous and inhalation. The inhalation segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in number of diagnostic procedure, and increase in government support regarding the use of inhalation anesthesia.
On the basis of surgery type, the market is classified into knee & hip replacements, heart surgeries, cancer surgery, general surgery. The knee & hip replacement segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in prevalence of osteoarthritis, rise in number of arthroplasty procedure, and increase in accident and sport related knee and hip injury.
On the basis of end user, the market is classified into hospital and ambulatory surgical centers. The hospital segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in the number of hospitals, and rise in the expenditure by government to improve healthcare industry.
North America garnered a major share in the general anesthesia drugs market in 2021, and is expected to continue to dominate the market during the forecast period, owing to rise in prevalence of chronic disease, increase in number of approval for general anesthesia drug, presence of key players, and development in R&D activities in healthcare sector in the region. However, Asia-Pacific is expected to register highest CAGR of 4.2% from 2022 to 2031, owing to increase in prevalence of cardiovascular disease, rise in number of surgical procedure, and growth in health care expenditures.
The COVID-19 outbreak is anticipated to have a negative impact on growth of the general anesthesia drug market. The pandemic has stressed healthcare systems in the world and cause decline in the demand of general anesthesia drug due to canceled or postpone of elected surgeries. According to the report share by British Journal of Surgery in May 2020, it was reported that, approximately 28.4 million elected surgeries estimated to be canceled in 2020 over the globe. According to the report share by National Library Medicine in July 2020, after excluding emergency surgical procedures, it was estimated that about 30,000 primary and 3000 revision knee and hip replacement arthroplasty procedures was canceled each week in the U.S In current scenario, the number of surgeries which got cancelled or postponed during COVID-19 pandemic were rescheduled.
Key findings of the Study
- By type of drug, the others segment was the highest contributor to the market in 2021.
- By route of administration, the inhalation segment was the highest contributor to the market in 2021.
- By surgery type, the knee & hip replacement surgery segment dominated the market in 2021 and is expected to continue this trend during the forecast period.
- By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- B. Braun Melsungen
- Baxter International Inc.
- Fresenius SE and Co. KGaA
- Hikma Pharmaceuticals plc
- Paion AG
- Pfizer Inc.
- Abbott Laboratories
- Abbvie Inc
- AstraZeneca plc
- Avet Pharmaceuticals Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 284 |
| Published | May 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 5400.5 million |
| Forecasted Market Value ( USD | $ 7736.3 million |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
