Market Snapshot
| Study Period: | 2018-2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 3.64 % |
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Market Overview
The anesthesia drugs market was valued at USD 6,071 million in 2020, and it is expected to reach USD 7,523 million in 2026, registering a CAGR of nearly 3.64% during the forecast period.
The demand for anesthesia drugs observed a slight decline in 2020 due to the emergence of the pandemic situation, leading to delayed or canceled surgeries. According to the study published in the British Journal of Surgery, in May 2020, based on a 12-week period of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were estimated to be canceled or postponed. However, as activities are resuming, all the elective surgeries that were held up are also being performed now, thereby increasing the consumption of anesthesia drugs.
The primary factors propelling the growth of this market are the rising number of surgeries and new anesthesia drug approvals. According to the International Society of Aesthetic Plastic Surgery report, in 2019, the volume of plastic surgeries performed globally observed an increase of about 7.4% in comparison to the previous year (2018). This indicates the rising number of surgeries, which ultimately results in the rising demand for anesthesia drugs.
Also, according to the United Nations Department of Economic and Social Affairs, by 2050, one in four persons living in Europe and Northern America could be aged 65 years or over. An increase in the elderly population has led to a steep rise in the number of chronic diseases among older people, like cardiovascular and neurological, further leading to the rising demand for anesthesia drugs.
In June 2019, Fresenius Kabi announced the immediate availability of Dexmedetomidine Hydrochloride in 0.9% Sodium Chloride Injection, a medication for sedation of non-intubated patients before and/or during surgery and other procedures. This is expected to propel the growth of the anesthesia drugs market.
Scope of the Report
As per the scope of the report, anesthesia is a drug that induces a reversible loss of sensation. Anesthesia is one of the essential components of any surgical procedure. It induces temporary unconsciousness and loss of protective reflexes. General anesthesia drugs suppress the activities of the central nervous system and induce a complete lack of sensation. Local anesthetics restrict the transmission of nerve impulses from the targeted region to the spinal cord. The anesthesia drugs market is segmented by drug type (general anesthesia drugs and local anesthesia drugs), route of administration (inhalation, injection, and other routes of administration), application (general surgery, cosmetic surgery, plastic surgery, dental surgery, and other applications), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers market size and forecasts in value (USD million) for the above segments.
The report also offers values (USD million) for the drug types (general anesthesia drugs and local anesthesia drugs as a whole, without the sub-segments in general anesthesia and local anesthesia drugs), routes of administration (inhalation, injection, and other routes of administration), and applications (general surgery, cosmetic surgery, plastic surgery, dental surgery, and other applications) for each country provided in the scope.
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| Inhalation | |
| Injection | |
| Other Routes of Administration |
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| General Surgery | |
| Plastic Surgery | |
| Cosmetic Surgery | |
| Dental Surgery | |
| Other Applications |
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Key Market Trends
The Propofol Sub-segment is Expected to Show the Fastest Growth in the General Anesthesia Drugs Segment
Propofol is one of the most commonly used general anesthetics in surgeries and is used as a sedative for critical care (including those with COVID-19) in the ICU. It is used for the initiation and maintenance of procedural sedation, general anesthesia, etc. In June 2020, the United States Food & Drug Administration approved the use of Fresenius Propoven 2% emulsion to maintain sedation in COVID-19 patients (16 years and above) requiring mechanical ventilation.
Propofol is also used for the induction maintenance of anesthesia and the management of refractory status epilepticus. The drug has been used for a long time for various types of surgical procedures that require anesthesia. The companies that manufacture propofol injections are Neon Laboratories Limited, Bharat Serums and Vaccines Limited, and Fresenius Kabi.
Furthermore, as per the data provided by the Organization for Economic Co-operation and Development, in Germany, the total number of coronary artery bypass grafting procedures performed was 45,307 in 2018. Hence, the increasing incidences of emergency surgeries, extensive usage of the drug, short-acting characteristics, and a rising number of surgical procedures worldwide are the major factors propelling the growth of the market.
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North America Dominates the Market and is Expected to Follow the Same Trend Over the Forecast Period
North America currently dominates the anesthesia drugs market and is expected to continue its stronghold for a few more years. The United States is the largest regional market in the world. With the emergence of COVID-19, the United States faced heavy shortages of vital anesthesia drugs, particularly dexmedetomidine, midazolam, propofol, and neuromuscular blocking agents. As a result, many companies are ramping up their production of anesthesia drugs. For instance, in May 2020, Hikma Pharmaceutical introduced a new product, "Propofol Injectable Emulsion", in the United States.
Furthermore, this market is driven by the increasing number of surgeries, rising aging population with increasing chronic conditions, and advancements in anesthesia technologies. As per the statistics provided by the American Society of Plastic Surgeons (ASPS) 2019, almost 1.8 million cosmetic surgical procedures and 16.3 million cosmetic minimally-invasive procedures were performed in the United States in 2019. The demand for various anesthetics goes hand-in-hand with the surgical procedures being performed. The application of anesthetics in general surgeries is expected to contribute significantly to the growth of the market.
Moreover, new anesthesia drugs are being developed in the country, which is expected to propel the market growth. For instance, in June 2020, Medova and the New York School of Regional Anesthesia (NYSORA) entered a partnership to introduce SAFIRA (SAFer Injection for Regional Anesthesia) in the United States. Also, in January 2020, the Food & Drug Administration approved the new drug application for cocaine hydrochloride (HCI; NUMBRINO) nasal solution 4% (40 mg/mL), manufactured by Lannett Company, for anesthetic use in the United States.
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Competitive Landscape
The anesthesia drugs market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with rising drug approvals, mid-size to smaller companies are expanding their market presence by introducing new ingredients with fewer prices. In April 2020, Blue-Zone Technologies Ltd received approval from Health Canada for desflurane, USP, an anesthetic drug used for general anesthesia. Companies like Baxter, Abbott Laboratories, Aspen, Fresenius SE, Roche, and B. Braun Melsungen AG hold substantial market shares in the anesthesia drugs market.
Recent Developments
In June 2021, PAION AG received United Kingdom Medicines & Healthcare products Regulatory Agency (MHRA) approval for Byfavo (remimazolam besylate) in adults for procedural sedation.
In August 2020, PAION AG launched the first commercial product sales of Anerem (remimazolam) for use in general anesthesia in Japan.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Surgeries
4.2.2 New Approvals of Anesthesia Drugs
4.2.3 Reduction in the Cost of Newly Invented Drugs
4.3 Market Restraints
4.3.1 Side Effects of General Anesthetics
4.3.2 Lack of Skilled Anesthetics
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value)
5.1 By Drug Type
5.1.1 General Anesthesia Drugs
5.1.1.1 Propofol
5.1.1.2 Sevoflurane
5.1.1.3 Desflurane
5.1.1.4 Dexmedetomidine
5.1.1.5 Remifentanil
5.1.1.6 Midazolam
5.1.1.7 Other General Anesthesia Drugs
5.1.2 Local Anesthesia Drugs
5.1.2.1 Bupivacaine
5.1.2.2 Ropivacaine
5.1.2.3 Lidocaine
5.1.2.4 Chloroprocaine
5.1.2.5 Prilocaine
5.1.2.6 Benzocaine
5.1.2.7 Other Local Anesthesia Drugs
5.2 By Route of Administration
5.2.1 Inhalation
5.2.2 Injection
5.2.3 Other Routes of Administration
5.3 By Application
5.3.1 General Surgery
5.3.2 Plastic Surgery
5.3.3 Cosmetic Surgery
5.3.4 Dental Surgery
5.3.5 Other Applications
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AbbVie Inc.
6.1.2 Apsen Pharmacare Holdings Limited
6.1.3 Baxter International Inc.
6.1.4 B. Braun Melsungen AG
6.1.5 Fresenius SE & Co. KGaA
6.1.6 Pfizer Inc.
6.1.7 Teva Pharmaceutical Industries Limited
6.1.8 Dr. Reddy's Laboratories
6.1.9 Abbott Laboratories Inc.
6.1.10 Novartis AG
6.1.11 Eisai Inc.
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Anesthesia Drugs Market market is studied from 2018 - 2026.
What is the growth rate of Global Anesthesia Drugs Market?
The Global Anesthesia Drugs Market is growing at a CAGR of 3.64% over the next 5 years.
Which region has highest growth rate in Global Anesthesia Drugs Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Anesthesia Drugs Market?
North America holds highest share in 2020.
Who are the key players in Global Anesthesia Drugs Market?
Baxter International Inc., Aspen Pharmacare Holdings Limited, B. Braun Melsungen AG, Fresenius SE & Co. KGaA, Pfizer Inc. are the major companies operating in Global Anesthesia Drugs Market.
