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General Anesthesia Drugs Market Revenue to Attain USD 7.51 Bn by 2033
13 Nov 2024
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General Anesthesia Drugs Market Revenue and Trends
The global general anesthesia drugs market revenue surpassed USD 5.40 billion in 2024 and is predicted to attain around USD 7.51 billion by 2033, growing at a CAGR of 3.72%. The demand for anesthesia drugs is rising due to the increasing incidences of chronic diseases like diabetes and cardiovascular among the geriatric population.
Market Overview
General anesthesia drugs are induced intravenously to patients during surgeries or other procedures to reduce pain. These drugs help to reduce patients’ discomfort and consciousness, allowing surgeons to carry out complex procedures and improving patient outcomes. The rising number of surgical procedures is expected to boost the demand for general anesthetic medications. In addition, rising drug approvals and discoveries further propel the growth of the market.
For instance, in October 2024, Sri Krishna Hospital located in Karamsad introduced an AI-based target-controlled infusion system for anesthesia practice that enables precise intravenous administration of anesthetic drugs to achieve predictable concentrations in specific body compartments. This technique holds promise for managing postoperative pain across several surgical procedures, accurately predicts blood drug concentration, and controls the affected site by preventing drug accumulation.
Report Highlights of the General Anesthesia Drugs Market
On the basis of drug, the propofol segment led the market in 2023 as it offers smooth induction without any side effects like vomiting nausea delirium. It provides fast recovery, further enhancing patient comfort. Moreover, propofol is cost-effective, which makes it a better option.
Based on the route of administration, the intravenous segment dominated the market in 2023. This is mainly due to the increased adoption of intravenous (IV) anesthesia due to its precise control over drug administration. It quickly delivers the drugs into the bloodstream, which induces drowsiness to carry out the surgical procedures more effectively.
By application, the knee & hip replacement segment dominated the general anesthesia drugs market in 2023 due to the rising prevalence of rheumatoid arthritis or osteoarthritis among the geriatric population. However, anesthesia drugs help with muscle relaxation, which provides the surgeon with precise bone and position implants and improves the outcomes.
On the basis of end-use, the hospitals segment dominated the market in 2023. This is due to the increasing number of surgeries performed in hospitals.
General Anesthesia Drugs Market Trends
Rising surgical procedures: The increasing prevalence of various diseases drives the need for surgical procedures, expanding the market for general anesthesia. The prevalence of cardiovascular diseases, orthopedic diseases, and cancer is rising, which often require surgery to manage conditions. For instance, according to a report, 30 million surgical procedures are carried out in India every year, with 85 % of surgeries being performed in smaller and mid-sized hospitals and only 15% being performed in corporate hospitals.
Rising demand for pain management solutions: The rising focus on patient-centered treatment with managing pain during surgical procedures drives the demand for general anesthetic drugs. Several health organizations and government entities are investing in research for developing effective pain management techniques with potent general anesthetic drugs.
Advancements in technology: Advancements led to the innovation of inhalation delivery systems like low-flow methods. These sophisticated vaporization techniques decrease drug expenses and waste and improve safety and efficacy.
Regional Outlook
North America dominated the general anesthesia drugs market in 2023 as it comprises well-established hospitals, specialty clinics, and ambulatory surgical centers that carry out several surgical procedures. With the rising surgical procedures, there is a high demand for effective anesthesia medications in the region, thus fueling the growth of the market. On the other hand, Asia Pacific is expected to be the fastest-growing region in the market in the coming years. This is mainly due to the rising geriatric population. However, geriatric people are more prone to chronic disease like CVD and cancer, often requiring surgical intervention, which boosts the demand for anesthesia drugs.
General Anesthesia Drugs Market Coverage
Report Attribute
Key Statistics
Market Revenue in 2024
USD 5.40 Billion
Market Revenue by 2033
USD 7.51 Billion
CAGR
3.72% from 2024 to 2033
Quantitative Units
Revenue in USD million/billion, Volume in units
Largest Market
North America
Base Year
2023
Regions Covered
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Market News
In September 2024, Eugia Steriles received its first product approval from the U.S. Food and Drug Administration (USFDA) for Lidocaine Hydrochloride injection. Lidocaine is a local anesthetic (numbing medication) that is used to numb an area of your body to help reduce pain or discomfort caused by invasive medical procedures such as surgery, needle punctures, or insertion of a catheter or breathing tube.
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