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Local Anesthesia Drugs Market Future Growth Prospects and Industry Trends Analyzed till 2023-2032|Hikma Pharmaceuticals PLC, Fresenius SE & Co.KGaA, Glenmark Pharmaceutical Limited, B.Braun Melsulgen AG, Pacira BioSciences Inc.
Local Anesthesia Drugs Market Size
The Business Research Company's Local Anesthesia Drugs Global Market Report 2023 identifies The increase in number of surgeries as the major driver for the local anesthesia drugs market's growth in the forecast period. A medical speciality known as surgery deals with the physical and mechanical treatment of wounds, illnesses, and other ailments. Surgeries are increasing in the world due to accidents and chronic ailments such as cardiovascular diseases, cancers, and orthopaedic disorders. As a result, the increasing number of surgeries increases the demand for local anaesthesia drugs because those drugs are commonly used in surgeries.
The global local anesthesia drugs market size is expected to grow from $4.05 billion in 2022 to $4.30 billion in 2023 at a compound annual growth rate (CAGR) of 6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The local anesthesia drugs market size is expected to grow to $5.23 billion in 2027 at a compound annual growth rate (CAGR) of 5%.
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Major competitors in the local anesthesia drugs market are Hikma Pharmaceuticals PLC, Fresenius SE & Co. KGaA, Glenmark Pharmaceutical Limited, B. Braun Melsulgen AG, Pacira BioSciences Inc., Pfizer Inc., Septodont, Teva Pharmaceutical Industries Limited, Aspen Pharmacare Holdings Limited, Novartis Inc., Sagent Pharmaceutical, Mylan N.V., Advanced Pharma Inc., Akorn Operating Company LLC, and Endo International plc.
A key trend in the local anesthesia drugs market includes Product innovation. Major companies operating in the local anaesthesia drugs market focus on developing new product solutions to strengthen their position. For instance, in December 2021, Hikma Pharmaceuticals PLC, a UK-based company operating in local anaesthesia drugs, introduced the Bupivacaine HCl Injection in 10mL and 30mL doses with improvements like 0.25%, 0.5%, and 0.75%. Bupivacaine HCl Injection is recommended for adults to produce local or regional anaesthesia or analgesia for surgical, dental, and oral surgery operations, as well as diagnostic and treatments and obstetrical procedures.
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The local anesthesia drugs market is segmented -
• By Type: Bupivacaine, Lidocaine, Benzocaine, Ropivacaine, Prilocaine, Chloroprocaine, and Other Types
• By Mode of Administration: Injectable, Surface Anesthetic
• By Distribution Channel: Hospital Pharmacy, Pharmacy Stores, Other Channels
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the local anesthesia drugs market.
The Business Research Company's "Global Local Anesthesia Drugs Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Local Anesthesia Drugs Market Include:
1. Executive Summary
2. Local Anesthesia Drugs Market Characteristics
3. Local Anesthesia Drugs Market Trends And Strategies
4. Local Anesthesia Drugs Market - Macro Economic Scenario
5. Local Anesthesia Drugs Market Size And Growth
……
26. Africa Local Anesthesia Drugs Market
27. Local Anesthesia Drugs Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Local Anesthesia Drugs Market
29. Local Anesthesia Drugs Market Future Outlook and Potential Analysis
30. Appendix
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