Local Anesthesia Drug Market is expected to register a CAGR of 3.9% during the forecast period, 2018 to 2023| Major Players - BAXTER, MYLAN, ABBOTT, ASTRAZENECA, TEVA PHARMACEUTICALS, amongst others

Market Analysis:

North America to Dominate the Market
North America dominates the global local anesthesia drugs market due to the increased demand of propofol, increasing focus of large number of vendors towards exploring new routes of administration such as oral and topical will also drive the preference in the anesthetic drugs market.

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According to CDC, the total number of inpatient surgeries performed in the United States grew to 51.4 million, with the cardiology, surgical, and obstetrical procedures being the most common ones. In Europe, a greater number of surgeries are being performed for cases of cataract, tonsillectomy, colonoscopy, caesarean sections, and hip replacements. In addition, a number of procedures, such as cochlear implantation, laparoscopic colectomy, laparoscopic hysterectomy, secondary hip replacement, and knee replacement, have become more frequent in the recent years. Additionally, new approval of anesthetic drug and increase in number of cosmetic surgeries are fueling the market. General anesthetic drugs causes several side-effects, including nausea, vomiting, dry mouth, sore throat, shivering, muscle aches, disorientation, itching, sleepiness, and mild hoarseness. Hence, the side-effects of general anesthesia and patient’s reluctance toward using it, are the factors that are restraining the segment’s growth.

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Market Segments:
Local Anesthesia Drug Market is segmented by:
1. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• August 2017: Akovaz (Ephedrine Sulfate) injection manufactured by Sandoz Inc. for the treatment of clinically important hypotension got approval of FDA.
• July 2017: Septocaine a local, infiltrative or conductive anesthesia which is used dental procedures developed by Hansamed Inc. got FDA approval.

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