Anesthesia Drugs Market

Market Overview

The global anesthesia drugs market size was valued at USD 6.07 Billion in 2022. It is projected to reach USD 8.20 Billion by 2031, growing at a CAGR of 4.4% during the forecast period (2023-2031). 

The medicine for general anesthesia is introducing and maintaining an unconscious state with no feeling of pain. Essentially, it is an induced condition of unconsciousness followed by a partial or complete absence of defense mechanisms. It is given in combination with drugs intravenously or through inhalation. Some intravenous general anesthetic medications include propofol, etomidate, and ketamine, whereas inhalation anesthetics include Sevoflurane and desflurane. Various heart procedures, hip and knee replacement surgeries, cancer surgeries, and gastrointestinal procedures involve general anesthesia. The rapidly aging population and longer lifespans of those with chronic disorders contribute to the rising prevalence of chronic diseases worldwide, eventually putting enormous strain on the global healthcare system.

Market Dynamics

Market Drivers

Increasing Number of Surgeries

The main factor propelling the expansion of the market under study is the rising number of surgical procedures, primarily as a result of the growing geriatric population, rising C-sections, and cardiac surgeries globally as a result of a high prevalence of cardiovascular diseases and other chronic conditions where the surgery is being recommended as mandatory. The most common surgical treatment performed in 2017 was a caesarian section, according to data from Eurostat. It was responsible for almost 1.4 million procedures in European Union Member States. Bupivacaine is the most often used local anesthetic in spinal anesthesia for preterm birth. Hence the rise in cesarean surgery increases the demand for anesthetic medications. Bronchoscopic surgery, transluminal coronary angioplasty, and appendectomy were among the other standard surgical procedures in Europe.

Market Restraint

Side Effects of Anesthetic Drugs

There are specific adverse effects to any medical treatment or operation. Most people won't experience any long-term side effects from general anesthesia, although they can experience nausea and vomiting, dry mouth, sore throat or hoarseness, chills and shivering, confusion and hazy thinking, etc. But side effects that last longer than a few days are more common in older persons. After surgery, some patients may experience confusion, disorientation, or memory loss. Although this confusion may come and go, it usually disappears after approximately a week. 

Market Opportunities

New Approvals of Anesthetic Drugs

The market for these medications is being boosted by both the rising approval of generics and the leading manufacturers' growing investments in research and development. The first local anesthetic for spinal anesthesia to receive FDA approval was released in 2018 by B. Braun Medical Inc. It is called Clorotekal and is a preservative-free spinal anesthetic with a quick onset and short duration of action. Dexmedetomidine Hydrochloride in 0.9% Sodium Chloride Injection, a drug for sedating non-intubated patients before and during surgical and other operations, was made immediately available by Fresenius Kabi in June 2019.

Regional Analysis

The global anesthesia drugs industry is classified into four regions: North America, Europe, Asia-Pacific, and LAMEA. 

North America Dominates the Global Market

North America is the most significant revenue contributor and is expected to exhibit a CAGR of 3.60% during the forecast period. The largest regional market in the world for anesthetic medications, the United States, is anticipated to develop quickly over the next few years due to several factors, including an aging population with an increase in chronic diseases and technological advancements in anesthesia. According to the Global Health and Wellness Report, nearly 40% of American adults aged 18 and over had a cardiovascular diagnosis in 2018, which increased the demand for immediate and highly effective therapies. The United States dominates the market for anesthetic medications due to the causes mentioned above, and this trend is anticipated to continue during the projected period.

Europe is expected to exhibit a CAGR of 3.40% during the forecast period. The anesthesia drug market in the United Kingdom is expanding due to the rise in surgical procedures and people undergoing surgeries for orthopedic conditions, hernias, and other general surgical procedures. The large corporations launching their products in the European region are another factor driving the market for anesthetic medications. For instance, Piramal Group introduced Sevoflurane in early 2019 in European nations. Halothane, a prescription from the Piramal Group, is not offered outside of the United Kingdom for pediatric use. This shows that major players have taken notice of the United Kingdom.

In China, according to a survey from 2018, in addition to a surge in cosmetic procedures like facelifts, lip augmentations, and rhinoplasty, it also experienced a reduction in the average age of its patients. Patients under 28 made up about 12 million of the 22 million Chinese who underwent cosmetic surgery in 2018. Teenagers performed 8% of all procedures, on the other hand. The prevalence of cardiovascular diseases (CVD) in China has steadily risen. According to a 2018 study by Li-Yuan Ma that was published in the Journal of Geriatric Cardiology, of the 290 million individuals with CVD, over 2 in 5 fatalities in China are related to the condition, which is greater than the death rate from cancer or other diseases.

Six nations comprise the GCC region: the United Arab Emirates (UAE), Oman, Kuwait, Bahrain, and the Kingdom of Saudi Arabia. The healthcare industry has undergone significant transformation and expansion in most gulf countries with robust developing economies. The medical tourism industry has grown significantly as a result of this emerging economy. Dubai, the United Arab Emirates, has become a hub for medical tourism in the GCC due to several substantial investments and supportive factors. The considerable increase in lifestyle/non-communicable diseases in the GCC region is the leading cause of this flood of medical tourists.

Segmental Analysis

The global anesthesia drugs market is segmented by drug type, route of administration, and application.

Based on drug type, the global anesthesia drugs market is bifurcated into general and local anesthesia drugs.

The general anesthesia drugs segment is the major contributor to the market and is estimated to exhibit a CAGR of 3.70% during the forecast period. The primary drivers of the market's expansion include the rising prevalence of emergency operations, an aging population, widespread drug use, short-acting properties, and increased surgical procedures performed globally. An intravenous anesthetic drug called propofol is used to induce and maintain general anesthesia. Both in-patients and out-patients use Sevoflurane to generate and maintain general anesthesia. According to current trends, Sevoflurane is replacing the use of isoflurane and Halothane. This market's growth is significantly fueled by the drug's use in thoracic and cardiovascular procedures. Desflurane is an electrically heated dispenser needed to disperse the vapor because it is a volatile liquid inhalational anesthetic.

A local anesthetic called bupivacaine is a prescription drug that stops the nerve impulses that the brain uses to perceive pain. For a variety of treatments, including surgery, as well as diagnostic, therapeutic, and obstetrical procedures, this injection is a highly helpful anesthetic. Ropivacaine is less lipophilic than bupivacaine's long-acting amino-amide local anesthetic injected intravenously. Ropivacaine is a suitable anesthetic for various surgical procedures and is more effective for extended sensory or motor blockade. The main uses of lidocaine, a local amide anesthetic, are to treat ventricular tachycardia and carry out nerve blocks. It is a topical anesthetic that temporarily impairs skin and mucous membrane sensation.

Based on the route of administration, the anesthesia drugs market is bifurcated into inhalation, injection, and other.

The injection segment owns the highest market and is estimated to exhibit a CAGR of 3.75% during the forecast period. Both local and general anesthesia is achieved by injecting injectable anesthetics into the body. Drugs supplied via injection can be done intravenously, topically, intramuscularly, or by blocking nerves. These techniques entail injecting medications with anesthetic properties into the targeted area. For extensive procedures, a common drug called propofol is used to induce general anesthesia. Target-controlled infusion is the method used to give it intravenously using either manually programmed infusion pumps or computer-controlled infusion pumps (TCI). Infusion (beneath the skin), field block (injection into soft tissues far from the site of action), nerve block (peripheral nerve block, epidural, interscalene, saddle, etc.), and spinal injections are only a few of the injectable methods used to provide local anesthetics.

The recommended method of administering general anesthesia is inhalation. During operations for the induction and maintenance of general anesthesia, nitrous oxide, desflurane, Sevoflurane, isoflurane, enflurane, Halothane, and methoxyflurane are the most often used inhalation-based anesthetics. A regulated system using computerized technology, including anesthetic gas monitoring and patient monitoring equipment, is used to administer most inhalation-based anesthesia with oxygen. Aside from nitrous gas, which also provides analgesia, all inhalation-based anesthetics will cause immobility and amnesia. Additionally, most inhalation-based drugs are used in conjunction with other IV anesthetics.

Based on application, the global anesthesia drugs market is bifurcated into general surgeries, dental surgeries, plastic surgery, cosmetic surgeries, and other applications.

Recent Developments

• February 2022- Sedaconda (isoflurane) was made available in Germany, according to Sedana Medical AB. In July 2021, the European DCP approved Sedaconda (isoflurane). The product acquired national approval in 14 nations. The same year, more marketing approval requests were made, and the business obtained federal licenses in Italy, Poland, Switzerland, and the United Kingdom.
• January 2022- Akorn Operating Company LLC and Laboratoires Théa SAS (Théa) had a contract to procure seven branded ophthalmic goods. As a result of the tactical decision, Théa could expand its line of Akorn-branded goods to include Akten (lidocaine HCl ophthalmic gel), a local anesthetic used for ocular surface anesthetic during ophthalmologic operations.