Anesthesia Drugs Market Size, Share, Trends, Growth and Forecast-2028

The Global Anesthesia Drug Market accounted for up to a landmark of $6.03 billion in 2021 and is projected to reach approximately $8.86 billion by 2030 by registering a CAGR of almost 3.93% from 2021 to 2030.
The worldwide demand for anesthetic drugs witnessed a slight decline in 2020 due to the sudden outbreak of the pandemic situation, thereby leading to frequent cancellation and delays in surgical operations. In May 2020, as per the study published in the British Journal of Surgery, based on twelve weeks of the peak level of disruption to the hospital services because of COVID-19, approximately 28.4 Mn elective surgeries were estimated to get cancelled in 2020. However, with the resuming of activities, all of the elective surgeries that were withheld till date are being performed at present, thereby increasing the consumption of anesthetic drugs across the globe.

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DRIVERS, RESTRAINTS & OPPORTUNITIES

a.) DRIVERS:

The continuous increase of surgeries across the globe is one of the primary reasons that is constantly augmenting the overall market growth throughout the estimated time frame. According to the Lancet, out of the 313 MN procedures undertaken each year globally, only 6% are carried out in the poorest countries across the globe. In 2019, as per the International Society of Aesthetic Plastic Surgery report, the total volume of plastic surgeries performed across the world was observed with an increase of about 7.4% compared to the last year in 2018.

b.) RESTRAINTS:

Some of the major obstructions in the growth of the overall market worldwide are temporary confusion, memory loss, difficulty in urine passage, etc.

c.) OPPORTUNITIES:

The rise of government funding across the globe for the technological developments of the injections is estimated to provide a ton of opportunities in the future.

RECENT DEVELOPMENTS:

• On 18th August 2020, Fresenius Kabi launched its first anesthesia medications along with smart labels that are highly embedded within the radio-frequency identification technology. The very first RFID smart-labelled product, called Diprivan (Propofol) 200 mg / 20 mL (10 mg / mL) Injectable Emulsion, USP, was introduced in the United States

• On 12th May 2020, Hikma Pharmaceuticals USA Inc. announced its launching of the Propofol Injectable Emulsion of anesthesia drugs of USP, 50 mL, 20 mL, & 100 mL vials in the United States.

• On 8th May 2020, AbbVie acquired Allergan for the expansion of its product offerings in key therapeutic areas for the requirement of anesthesia drugs, including neuroscience, and oncology.

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This release was published on openPR.