Market Trends of Asia-Pacific Anesthesia Drugs Industry
This section covers the major market trends shaping the APAC Anesthetic Drugs Market according to our research experts:
Propofol Segment Expects to Register a Significant CAGR Over the Forecast Period
The propofol segment is expected to witness significant growth in the anesthesia drugs market in Asia-Pacific over the forecast period owing to factors such as the rising number of surgical procedures and increasing demand for propofol.
Propofol is a short-acting drug that causes a lower state of consciousness and impairs recollection of past experiences. It can be used for procedural sedation, beginning and maintaining general anesthesia, and sedating people who are mechanically ventilated. Propofol is one of the most commonly used general anesthetics in surgeries and is used as a sedative for critical care (including for those with COVID-19) in the ICU.
Additionally, according to an article published in BMC Anesthesiology in August 2022, it has been observed that ciprofol is a propofol analog with improved pharmacokinetic properties. In addition, ciprofol is equally as effective as propofol and is linked to fewer side effects when used to induce general anesthesia in patients undergoing gynecological surgery. Also, as per an article published in the British Journal of Anesthesia in July 2021, it has been observed that propofol is the most commonly used sedative for gastroscopies (61.0%) and colonoscopies (60.4%). Such research studies show the higher adoption of propofol and its analog during surgical procedures, which is anticipated to fuel segment growth over the forecast period.
Also, the growing number of clinical trials is likely to lead to more surgeries using propofol, which will help the growth of the segment.For instance, in October 2022, Sir Ganga Ram Hospital, India, will conduct a Phase IV clinical trial to evaluate propofol dosing based on total body weight in obese patients receiving total intravenous anesthesia. Also, in December 2022, Xiaobo Yang, in collaboration with Wuhan Union Hospital, will conduct a Phase II clinical trial to evaluate the efficacy and safety of Fospropofol disodium versus propofol for sedation in mechanically ventilated ICU patients.
Because of things like more research studies and more clinical trials, the segment that has been studied is expected to grow over the next few years.
India is Expected to Have the Significant Market Share Over the Forecast Period
The rising burden of chronic diseases and increasing surgical procedures are expected to drive significant growth in the Indian anesthesia market over the forecast period.In addition, the growing geriatric population in the country, who are more prone to developing cancers and cardiovascular diseases, further raises the need for surgical procedures, hence propelling market growth in India over the forecast period. For instance, according to a press release by the Ministry of State for Social Justice and Empowerment in April 2022, the population of elderly citizens is expected to rise from 137.5 million (10.1% of the total population) in 2021 to 227.4 million (14.9% of the total population) in 2036.
The rising prevalence and incidences of chronic diseases such as cancer and cardiovascular diseases are the key factors driving the demand for anesthesia drugs in the country. For instance, as per the ICMR 2021 Report, it has been observed that the number of cancer patients in India is expected to rise from 26.7 million in 2021 to 29.8 million in 2025. Also, as per an article published in Frontiers in Cardiovascular Medicine, in December 2021, the overall self-reported prevalence of diagnosed CVDs was 29.4% for older adults aged 45 and above in India. The prevalence of CVDs was higher among older women than older men, and more than 80% of this burden is attributable to ischemic heart disease and stroke.
Similarly, according to the 2022 statistics published by the IDF, about 74 million people living in India were suffering from diabetes in 2021, and this number is projected to reach 124 million by 2045. Therefore, high blood sugar caused by diabetes can damage the nerves that control the heart and blood vessels, leading to a variety of cardiovascular diseases like coronary artery disease and stroke, which can narrow the arteries and necessitate coronary artery bypass grafting. This is expected to increase the demand for anesthesia during grafting surgery, hence bolstering market growth.
Therefore, owing to the aforementioned factors, such as the increasing number of cardiovascular diseases, cancer, and diabetes among the population, which further raise the demand for surgical procedures, the studied market is expected to grow over the forecast period.
