Press release
Global Local Anesthesia Drugs Market Comprehensive Study: Forecasted Market Size And Growth Rate
Local Anesthesia Drugs Market
The Business Research Company offers in-depth market insights through Local Anesthesia Drugs Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The local anesthesia drugs market size has grown strongly in recent years. It will grow from $4.29 billion in 2023 to $4.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to surgical procedures growth, aging population, rising awareness, regulatory environment, economic factors, patient preferences evolution..
The local anesthesia drugs market size is expected to see strong growth in the next few years. It will grow to $5.65 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing ambulatory surgical centers (ascs), emerging markets, personalized medicine adoption, drug repurposing, cost-effectiveness, global health crises response.. Major trends in the forecast period include technological advancements, market consolidation and partnerships, focus on patient safety and comfort, regulatory landscape, global market growth..
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Market Segmentation:
The local anesthesia drugs market covered in this report is segmented -
1) By Type: Bupivacaine, Lidocaine, Benzocaine, Ropivacaine, Prilocaine, Chloroprocaine, Other Types
2) By Mode of Administration: Injectable, Surface Anesthetic
3) By Distribution Channel: Hospital Pharmacy, Pharmacy Stores, Other Channels
Major Driver - Rising Surgical Procedures To Drive Market Growth
The increase in number of surgeries is expected to propel the local anesthesia drugs market forward. A medical specialty 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 orthopedic disorders. As a result, the increasing number of surgeries increases the demand for local anesthesia drugs because those drugs are commonly used in surgeries. For instance, according to the National Library of Medicine, a US-based organization for biotechnology information, the number of cardiovascular surgeries is predicted to increase consistently to reach a demand of 15,501 cases in 2040, with an increase of 46.5 %. This growth rate is substantially higher than 2019's (4.3%). Therefore, the increasing number of surgeries drives the local anesthesia drugs market.
Competitive Landscape:
Major companies operating in the local anesthesia drugs market report are Hikma Pharmaceuticals plc, Fresenius SE & Co. KGaA, Glenmark Pharmaceuticals Limited, B. Braun Melsungen AG, Pacira BioSciences Inc., Pfizer Inc., Septodont, Teva Pharmaceutical Industries Limited, Aspen Pharmacare Holdings Limited, Sagent Pharmaceuticals Inc., Mylan N.V., Akorn Operating Company LLC, Endo International plc, Abbott Laboratories, Anesiva Inc., Baxter International Inc., Dentsply Sirona Inc., Jiangsu Hengrui Medicine Co. Ltd., Johnson & Johnson, Lannett Company Inc., Lupin Limited, Alembic Pharmaceuticals, Torrent Pharmaceuticals, Cadila Healthcare, Indoco Remedies, Jubilant Life Sciences, Zydus Cadila, Wockhardt Ltd., Par Pharmaceutical, West-Ward Pharmaceuticals Corp.
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Top Trend - Product Innovations Transforming The Local Anesthesia Drugs Market
Product innovation is a key trend in the local anesthesia drugs market. Major companies operating in the local anesthesia 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 anesthesia 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 anesthesia or analgesia for surgical, dental, and oral surgery operations, as well as diagnostic and treatments and obstetrical procedures.
The Table Of Content For The Market Report 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
…..
27. Local Anesthesia Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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