Anesthesia Drugs Market Poised for Robust Growth, Expected to Reach USD 8.6 Billion by 2032

Propofol and IV Anesthesia Lead the Way as Global Anesthesia Drugs Market Expected to Grow at a CAGR of 4.2% by 2032

AUSTIN, TX, UNITED STATES, January 29, 2025 /EINPresswire.com/ -- According to Research by SNS Insider, The global anesthesia drugs market size was valued at USD 5.9 billion in 2023 and is projected to reach USD 8.6 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.2% over the forecast period of 2024-2032.

The anesthesia drugs market is expected to show considerable growth due to an increasingly aging population, an increase in surgical procedures, and developments in anesthesia procedures. Grappling with chronic diseases, such as cancer, heart diseases, and respiratory issues, leads to performing more surgeries, which in turn fuels the anesthesia dsssrugs market. For example, cardiovascular diseases lead to 17.9 million deaths annually, underscoring the importance of surgical treatments like heart-bypass surgeries. Essential medicines include general anesthetics, such as propofol, sevoflurane, and desflurane, which are needed for major operations, and local anesthetics, such as lidocaine and bupivacaine, for minor procedures. Support also comes from the development of new drugs that have low side effects and shorter recovery times.

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Key Players in Anesthesia Drugs Market
• Baxter International – (Propofol, Fentanyl)
• Pfizer – (Remifentanil, Rocuronium bromide)
• Abbott Laboratories – (Desflurane, Sevoflurane)
• AstraZeneca – (Atracurium besylate, Cisatracurium besylate)
• Fresenius Kabi – (Midazolam, Ketamine)
• Hospira – (Morphine sulfate, Succinylcholine chloride)
• Teva Pharmaceuticals – (Etomidate, Vecuronium bromide)
• Mylan – (Lidocaine hydrochloride, Bupivacaine hydrochloride)
• Merck & Co. – (Ropivacaine hydrochloride, Levobupivacaine hydrochloride)
• GlaxoSmithKline – (Pancuronium bromide, Doxacurium chloride)
• Sanofi – (Atracurium besylate, Cisatracurium besylate)
• Novartis – (Alfentanil hydrochloride, Mivacurium chloride)
• Takeda Pharmaceuticals – (Dexmedetomidine hydrochloride, Ondansetron hydrochloride)
• AbbVie – (Dexmedetomidine hydrochloride, Ondansetron hydrochloride)
• Aspen Pharmacare Holdings – (Propofol, Fentanyl)
• Hikma Pharmaceuticals – (Midazolam, Ketamine)
• Avet Pharmaceuticals – (Lidocaine hydrochloride, Bupivacaine hydrochloride)
• Piramal Enterprises – (Ropivacaine hydrochloride, Levobupivacaine hydrochloride)
• Par Pharmaceutical – (Alfentanil hydrochloride, Mivacurium chloride)

Segmentation Analysis
By Drug
Propofol segment dominated the anesthesia drugs market in 2023,  with a contribution of over 25.7% market share. Propofol, which has a rapid onset and a short recovery time, enhances patient comfort and procedure efficiency. It is well-established for induction and maintenance of anesthesia for many surgical and diagnostic procedures. Its use in outpatient and same-day discharge procedures also speaks to its role in the increasing trend toward minimally invasive procedures.

The sevoflurane segment shows a significantly high growth at a CAGR of 4.7% throughout the forecast period. This inhalational anesthetic is preferred for its fast action and recovery, being suitable for general or outpatient surgery. With an increase in surgical procedures and advancements in anesthetic techniques, sevoflurane is projected to play a significant role in driving market growth due to the need for less toxic and more effective anesthetic agents.

By Route of Administration
The intravenous (IV) segment dominated the market and accounted for the highest market share of 64.7% in 2023. The popularity of IV anesthesia is due to its rapid onset of action, the ability to precisely titrate drug delivery, and the ability to be used for even the most complex surgeries, all of which factor into increased patient safety. During the forecast window, the segment is anticipated to lead the market and notice commendable growth.

The IV segment is estimated to expand at the fastest CAGR of 4.6% during the forecast period. This growth has been further stimulated by innovations in infusion systems including target-controlled infusion (TCI) devices. The systems allow accurate anesthetic control and enhance patient comfort by fine-tuning drug delivery and minimizing dosing errors, leading to improved procedural outcomes and safety.

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Anesthesia Drugs Market Segmentation

By Drug
• Sevoflurane
• Propofol
• Dexmedetomidine
• Remifentanil
• Desflurane
• Midazolam
• Others - (Sufentanil, Fentanyl, Ketamine, Isoflurane, Thiopental, etc.)

By Route Of Administration
• Intravenous
• Inhaled

By Application
• Heart Surgeries
• Cancer
• General Surgery
• Knee And Hip Replacements
• Others

By End-Use
• Hospitals
• Ambulatory Surgical Centers
• Others

Regional Analysis
In 2023, North America dominated the anesthesia drugs market, with a market share of 36.95%, due to its high context of chronic diseases, technological innovations, and strong healthcare infrastructure. With the increasing incidence of diseases like cardiovascular disease and cancer, which often require surgical treatment, the demand for General Anesthesia has increased. Global procedures increased 3.4 percent over 2022, with more than 6.1 million procedures performed in the U.S. alone, solidifying its number one position in 2023.

Asia pacific is expected to witness the fastest growth throughout the forecast period. Higher healthcare spending, increasing population, and surgical needs are supporting the growth of the Asia-Pacific region, which is being touted as the fastest-growing market. The growing cases of chronic disorders and surge in healthcare investments, particularly in economies including China and India, are facilitating the market for anesthesia drugs. This is propelling the regional growth of the anesthesia drugs market, making it a prominent region in the global market.

Recent Developments
In August 2024, Amneal Pharmaceuticals, Inc. received FDA approval for its Propofol Injectable Emulsion USP, which is offered in three single-dose vial concentrations. This drug is widely utilized in hospitals for the induction and maintenance of anesthesia and sedation.
In April 2024, Baxter enhanced its U.S. pharmaceutical portfolio with the launch of Ropivacaine Hydrochloride Injection, USP, now available in a ready-to-use, single-dose infusion bag, offering a more convenient solution for anesthesia management.

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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Anesthesia Drugs Market by Drug
8. Anesthesia Drugs Market by Route Of Administration
9. Anesthesia Drugs Market by Application
10. Anesthesia Drugs Market by End-Use
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion

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