by General anesthesia drugs are widely used during surgical procedures to induce unconsciousness and block sensation or awareness. Some key applications of general anesthesia drugs include dental surgery, plastic surgery, orthopedic procedures, cosmetic procedures and C-sections. General anesthesia allows surgeons to perform complex surgeries painlessly on unconscious patients. It provides relaxation, amnesia and analgesia and helps protect patients from physical and psychological trauma during surgery. The growing geriatric population, rising prevalence of chronic diseases and increasing medical tourism are some key factors augmenting the need for surgical procedures worldwide, thereby propelling the demand for general anesthesia drugs.
The Global General Anesthesia Drugs Market is estimated to be valued at US$ 5.37 Bn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the General Anesthesia Drugs are Baxter Healthcare, Dr. Reddy’s Laboratories, Novartis International AG, Hospira, Maruishi, Hengrui, Lunan, Fresenius Kabi, Pfizer Inc., Hikma Pharmaceuticals, Sagent Pharmaceuticals, Teva Pharmaceuticals, Par Pharmaceutical, Viatris Inc., AbbVie, Piramal Critical Care, Aspen Global Incorporated, B. Braun SE, Abbott and Cosmo pharmaceuticals.
The key opportunities in the market include strong pipeline of innovative drugs, growth in healthcare infrastructure and increasing demand for ambulatory surgery centers.
General Anesthesia Drugs Market Demand such as the development of anesthetic agents with better safety profiles, minimal adverse effects and improved recovery times are expected to drive the adoption of general anesthesia drugs.
Market drivers
The key driver expected to boost the general anesthesia drugs market is the rising number of surgical procedures across the world. According to WHO, around 313 million surgical procedures were performed globally in 2020. This is indicative of the growing need for general anesthesia during surgeries. Moreover, the increasing prevalence of chronic diseases such as cardiovascular diseases and cancer is translating to greater demand for surgical interventions. Additionally, the expanding global geriatric population base prone to orthopedic and other age-related conditions will drive the uptake of general anesthesia drugs over the forecast period.
Challenges in the General Anesthesia Drugs Market
The General Anesthesia Drugs Market Size And Trends is facing challenges like rising prevalence of chronic diseases, increasing number of surgical procedures, growing geriatric population and stringent regulations. The side effects associated with general anesthesia drugs like respiratory depression, nausea, vomiting, hallucinations and emergence reactions are also restraining market growth. Managing these risks and meeting various compliance regulations adds to the production cost.
SWOT Analysis
Strength: Wide applications in various surgeries. Established brands and distribution channels.
Weakness: High development and production costs. Stringent regulations. Risk of side effects and complications.
Opportunity: Emerging markets in developing countries. Growing medical tourism. New product innovation.
Threats: Patent expiries of blockbuster drugs. Threat from generic drugs. Reimbursement issues.
Geographical Regions
North America held the largest share of around 35% in the general anesthesia drugs market in 2024 based on value owing to high healthcare spending and advanced healthcare facilities. Asia Pacific is expected to be the fastest growing region during the forecast period due to large patient population, rising healthcare infrastructure and penetration of health insurance.
Fastest Growing Region
Asia Pacific is poised to witness the highest growth rate during the forecast period. Growing medical tourism in countries like India, China and Thailand along with improving healthcare infrastructure is driving demand for general anesthesia drugs in Asia Pacific region. Increasing aging population, rising disposable income and expanding health insurance coverage are also supporting market growth in Asia Pacific.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
