Technavio analysts forecast the global anesthesia drugs market to grow at a CAGR of over 3% during the forecast period, according to their latest report.
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Technavio has published a new report on the global anesthesia drugs market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global anesthesia drugs market for 2017-2021. The report considers the revenues obtained from the expected launch of new drugs, which are currently under late stages of the pipeline, during the forecast period.
Market overview:
- The increasing surgical procedures is expected to fuel the adoption of anesthesia drugs
- Parenteral anesthesia drugs dominated the market owing to fewer side effects compared to conventional inhalational anesthetics
- Growing focus of vendors to explore new ROAs has fueled the launches of anesthetic drugs for topical and oral routes
- The emergence of anesthesia drugs for pediatric and dental applications could change the market dynamics
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Technavio healthcare and life sciences analysts highlight the following three factors that are contributing to the growth of the global anesthesia drugs market:
Growing volume of surgical procedures
Medical facilities perform various surgeries in the areas of orthopedics, trauma, ophthalmology, cardiovascular, respiratory, oncology, neurology, endoscopy, laparoscopy, and cosmetics. These surgeries help to treat cardiovascular diseases, gastrointestinal diseases, urological disorders, spinal abnormalities, brain tumors, and orthopedic deformities.
Sapna Jha, a lead orthopedics and medical devices research analyst at Technavio, says, “According to the European Union, the number of surgical procedures is on the rise in European countries. For instance, the number of laparoscopic colectomy procedures doubled in Slovenia and tripled in Spain between 2008 and 2014.”
Increasing cases of chronic conditions such as respiratory diseases and cardiac disorders
The increasing cases of chronic conditions such as respiratory disease and cardiac disorders will drive the adoption of anesthesia drugs. The prevalence of chronic respiratory diseases such as COPD, asthma, obstructive sleep apnea, and pulmonary embolism are growing each year. These diseases can affect individuals of all age groups worldwide.
“Pulmonary embolism is another major respiratory condition that can lead to mortality, if not treated early. Also, the growing cardiac disorders will lead to the adoption of anesthesia drugs,” adds Sapna.
Increasing demand for Propofol
The market is expected to witness an increased adoption of Propofol, which will drive the market growth. The anticipated growth for the drug is attributed to the higher preference and rapid onset of action. Also, the drug is becoming the choice for ambulatory surgery in outpatient settings, owing to the favorable operating conditions and rapid recovery.
Moreover, Propofol is superior to alternative anesthesia drugs for endoscopy procedures, in terms of safety and efficacy profile. Further, the rapid onset and metabolism of the drug, which does not have active metabolites, makes it ideal for short duration procedures. Also, patients using this drug has reported fewer complaints and side effects.
Top vendors:
- AbbVie
- Aspen
- Baxter
- B. Braun
- Fresenius Kabi
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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