General Anesthesia Drugs Market With Focus On Growth Analysis, Production, Consumption, Revenue, Analysis By 2028

General anesthesia is a condition of unconsciousness induced using general anesthetic agents drugs. The primary objective of general anesthesia is to induce unconsciousness, analgesia, and loss of reflexes of the autonomic nervous system (ANS). General anesthesia administered through intravenous route is categorized as IV anesthetics and is used for induction and for short surgery to relieve anxiety and induce amnesia. IV drugs are widely used in cardiovascular disease (CVD) and chronic renal disease (CRD) surgeries.

The global general anesthesia drugs market is estimated to be valued at US$ 4,706.1 million in 2021 and is expected to exhibit a CAGR of 3.8% over the forecast period (2021-2028).

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Recent Developments:

Researchers are extensively focusing on research and development activities for anesthetic medications which can be attributed to drive the growth of general anesthesia market over the forecast period. For instance, in August 2021, researchers from the University of Michigan and Washington University School of Medicine in St. Louis conducted studies for determining the common anesthetic drugs that will offer improved clinical outcomes and best patient recovery experiences. The study included well-established anesthetic drugs such as inhaled anesthetic drugs and intravenous propofol.

In addition, companies operating in the market are receiving positive results for potential effect of compounds as general anesthesia which can further boost the market growth. For instance, in June 2021, PAION AG, a specialty pharmaceutical company, got positive results in the European Phase III trial for Remimazolam. It is an ultra-short-acting intravenous benzodiazepine sedative/anesthetic which is approved in the U.S., Europe and China for procedural sedation and as general anesthesia in South Korea and Japan. PAION AG is planning to submit an extension variation to the Marketing Authorization for remimazolam as general anesthesia by the end of 2021. Hence, such initiatives by the company will expand the market horizon in various regions, contributing in the market growth.

Furthermore, U.S. Food and Drug Administration is granting approval for various intravenous general anesthetic drugs which is further boosting the market growth. For instance, in September 2020, U.S. FDA approved propofol injectable emulsion manufactured by Pfizer Inc. for general anesthetic applications.

North America (Region) held dominant position in the global general anesthesia drugs market in 2020, accounting for 29.4% share in terms of volume, followed by Europe and Asia Pacific, respectively. The growth of the market is driven by increasing product approvals.

Global General Anesthesia Drugs Market: Drivers

Increasing prevalence of CVD is expected to boost growth of the global general anesthesia drugs market over the forecast period. For instance, according to American Heart Association’s Heart Disease and Stroke Statistics 2018, around 92.1 million adults in the U.S. are suffering from some form of CVD or the after-effects of stroke.

Ageing population is at high risk of suffering from chronic diseases such as CRD, CVD and diabetes, which leads to increasing demand for surgical interventions. Therefore, increasing geriatric population is also expected to boost growth of the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.

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