General Anesthesia Drugs Market – Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)

General Anesthesia Drugs Market – Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)

The general anesthesia drugs market is projected to register a CAGR of 3.68% during the forecast period (2021-2026)

During the COVID 19 pandemic, there is a slight decline in demand for general anesthetics. This is because regional anesthesia is preferred over general anaesthetics, including caesarean sections. The market was also impacted by the challenges faced due to the disruption in manufacturing and supply chain during the pandemic. Furthermore, non-essential surgical procedures were put on hold to prepare for an imminent rise in COVID-19-related inpatient hospital admissions and to prevent the virus from spreading within health care institutions. As a result of the decrease in non-essential surgeries, the demand for surgical anaesthetics has decreased.

Certain factors that contribute to the growth of general anesthesia include, rise in the number of cardiovascular diseases and an increased geriatric population in developed nations. Cardiovascular disease(CVD) is a leading cause of death in the world and most CVD patients need to undergo surgery. Before going for the surgery, general anesthesia is given. The primary goal of general anesthesia is to make the patient unconscious and make him unable to feel pain during the surgical procedure.

According to Centres for Disease Control and Prevention (CDC), the number of deaths due to coronary heart disease in 2019 in the United States account for 360,900. Coronary artery disease is the most common type of all cardiovascular diseases. CDC also states that nearly 18.2 million adults are suffering from coronary artery disease in the United States.

Furthermore, as per World Health Organisation, the global deaths in 2019 due to Cardiovascular Disease (CVD) are 17.9 million, which accounts for around 32% of the global deaths. In addition to the same source, more than 75% of the deaths take place in low- and mid-income countries. As per the articles published by the Journal of the American college of cardiology, the global prevalence of CVD is doubled from 271 million in 1990 to 523 million in 2019, and the number of deaths due to CVD increased steadily from 12.1 million in 1990 to 18.6 million in 2019. Therefore, the increase in CVD results in an increasing number of surgical procedures, which in turn boost the growth of the general anesthesia drugs market.

Key Market TrendsThe Propofol Segment is Expected to Show the High Growth in the General Anesthesia Drugs Segment.

The most often used Intravenous general anesthetic is propofol. Propofol is a drug that is used to put you to sleep and keep you unconscious during surgery or other medical operations that need general anesthesia. Propofol is highly adopted by anesthesiologists along with anxiolytics and analgesics to promotes sleep while allowing a patient to breathe on their own at lesser doses.

Propofol, a general anaesthetic medication, is generally preferred for surgeries due to its lipophilic nature and rapid onset of action with low adverse effects. The companies that manufacture propofol include Fresenius Kabi, Pfizer, Teva, Sagent among others.

Moreover, Propofol is highly adopted due to its versatile applications. It is given intravenously and is commonly used in general anesthesia for less invasive procedures. Propofol is also used in mechanically ventilated sedation operations in adults, procedural sedation, and for status epilepticus when other medicines are of less clinical significance.

Furthermore, propofol is a primary anesthetic to keep the COVID patients comfortable while they are connected to ventilators in the ICU to provide deep sedation. Desired characterises in producing general anesthesia along with a wide range of applications is expected to contribute a major share in the market.

The below graph represents the prevalence of cardiovascular cases from 1990 to 2019.

North America Holds a Significant Share in the Market and is Expected to Follow the Same Trend Over the Forecast Period.

The United States currently dominates the general anaesthesia drugs market and is expected to continue the same in near future. The United States is the largest regional market in the world. According to the American Society of Anesthesiology, with the emergence of COVID-19, the United States faced heavy shortages of general anaesthetic drugs particularly Propofol, Sevoflurane, Desflurane among other general anaesthetic drugs. As a result, many companies are boasting up their production of anaesthesia drugs. For instance, in May 2020, Hikma Pharmaceutical introduced a new product, Propofol Injectable Emulsion, in the United States to meet the demands.

According to the Population Reference Bureau, the number of Americans aged 65 and above is expected to nearly double from 52 million in 2018 to 95 million by 2060, with older age group rise 16% to 23% of the total population.Growth in the aged population has resulted in a sharp increase in the number of chronic conditions among the elderly, such as cardiovascular and neurological ailments, driving up demand for anaesthetic medicines.

Furthermore, general anaesthesia drugs such as propofol received FDA approval for monitored anaesthesia care (MAC) sedation in adult patients undergoing diagnostic or therapeutic procedures in 2008. By 2022, this drug will no longer be patentable. With this molecule's patent expiring, generic medications will be able to enter the US market, providing a huge growth opportunity for the key competitors in the US general anaesthetic pharmaceuticals market.

Hence, increased risk of cardiovascular diseases, increase in ageing population and favourable healthcare infrastructure are the factors that are propelling the regional market to a major extent.

Competitive Landscape

The general anesthesia drugs market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, as medicine approvals increase, mid-size and smaller businesses are boosting their market share by launching novel ingredients at lower prices. Companies like Aspen, Baxter, Fresenius SE, B. Braun, Piramal critical care, Dr Reddy’s laboratories, Mylan, Hubei Yiyao, Xian Libang hold substantial market shares in the general anaesthesia drugs market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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Companies Mentioned
 
Abbott Laboratories
Aspen Holdings
AbbVie inc.
Bayer AG
Baxter International Inc.
B. Braun Melsungen AG
Fresenius Kabi AG
Hikma Pharmaceuticals plc
Merck & Co., Inc.
Mylan Inc.
Pfizer Inc.
Piramal Enterprises Limited
Novartis AG

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