General Anesthesia Drugs Market Size and Growth Analysis by Type, Application, Services, Solution and Technological Inno

The General Anesthesia Drugs Market is anticipated to reach a value of US$ 4.7 billion by the end of 2022 and to grow at a CAGR of 3.4% to US$ 6.7 billion by 2032. In 2021, the propofol medication class will dominate the global market, with a share of around 25.6%, according to a recent analysis by Future Market Insights.

The General Anesthesia Drugs Market is expected to be adversely impacted by the coronavirus outbreak. The pandemic has largely suspended anesthetic medical procedures, of a non-urgent nature, substantially reducing demand for general anesthesia drugs in the short term. Closure of clinics in nationwide lockdowns, and postponed elective medical procedures in the near future will hamper the general anesthesia drugs market. Recovery of the industry is dependent on the severity and duration of the disease.

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“Tech advancements in drug delivery apparatus, research on patient monitoring devices, and targeted drugs for patients during and after the use of anesthesia, and reduction of side effects from modern anesthetic drugs are providing impetus to growth of the general anesthesia drugs market,” says the FMI analyst.

General Anesthesia Drugs Market – Key Takeaways

Propofol is a highly popular general anesthesia drug, aided by low risk of side effects.
Injectables remain the common general anesthesia drug delivery method, owing to superior efficacy properties.
Asia Pacific is a leading market for general anesthesia drugs, owing to rising demand for surgical intervention in chronic diseases such as diabetes.

General Anesthesia Drugs Market – Key Driving Factors

Rising cases of cardiovascular diseases is a key factor supporting the sales of general anesthesia drugs.
A rapidly ageing population with a wide range of chronic ailments generates demand for general anesthesia drugs.
Investments into research for drug delivery methods and drug formulations support market growth.

General Anesthesia Drugs Market – Key Constraints

Lack of standardization in terms of anesthesia management techniques hinders market developments.
High cost of branded anesthetics and associated medical procedures holds back market growth.

The Anticipated Impact of Coronavirus

Anesthetic practices have been substantially impacted by the coronavirus pandemic. Numerous clinics have had to suspend their operations, as elective medical procedures have been directed to be postponed. On the other hand, surgical interventions for aged covid-19 patients will generate opportunities, which will partially mitigate losses incurred during this crisis period.

Competition Landscape

Players in the general anesthesia drugs market include but are not limited to Abbott Laboratories, AbbVie Inc., Astra Zeneca Plc, Baxter International Inc., and Fresenius SE C. KGaA. Developers are investing in investing in research for product development, and wider scope of application. For instance, sevoflurane has been found to improve outcomes of patients with sepsis.

More About the Report

The FMI’s market research report offers detailed insights on general anesthesia drug s market. The market is scrutinized on the basis of drug class (propofol, sevoflurane, dexmedetomidine, desflurane, remifentanil, midazolam, and others), route of administration (intravenous anesthesia, and inhaled anesthesia), and end user (hospitals, ambulatory surgical centers, and specialty clinics) across seven key regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa).

Key Market Segments Covered in General Anesthesia Drugs Industry Research

By Drug Class: