The global anesthetics market was valued at about $9.32 billion in 2018 and is expected to decline to $9.13 billion at a CAGR of -0.5% through 2022.
The anesthetics market consists of sales of drugs that cause a relaxing sensation to calm patients during surgery and remove the sensation of pain. These drugs are used to give a sense of calm to patients through muscle relaxation which also causes amnesia. The anesthetics market is divided into general anesthetics, regional anesthetics and local anesthetics.
North America was the largest region in the anesthetics market in 2017, followed by Europe. This region is expected to remain the largest during the next five years. The anesthetics market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
The increase in the number of surgeries is one of the major drivers of the anesthetics market due to the applications of anesthetic drugs during surgical procedures. This rise is mainly due to increasing incidents of injuries and accidents that require surgeries. For example, according to WHO's Global status report on road safety 2018, the number of road accidents reached 1.35 million in 2016, with approximately 64 deaths for every 100,000 vehicles.
Stringent guidelines and regulations imposed by regulatory bodies are one of the important restraints for the anesthetics market. These guidelines include conducting clinical trials of newly developed drugs, standards related to patient's safety, and monitoring of patients under anesthesia. Complying with these guidelines and getting regulatory approvals consumes a lot of time and negatively impacts the growth of the anesthetics market. For example, the American Society of Anesthesiologists impose various standards that apply to anesthesia care and monitoring of patient including standards for pre-, basic- and post-anesthesia care and monitoring.
Increasing consolidation in the form of acquisitions is an emerging trend in the anesthetics market. This is mainly due to high level of R&D and intellectual property (IP) investment needed to establish companies that manufacture anesthetic drugs. In this regard, mergers and acquisitions are considered as time and cost-effective methods. Some of the notable acquisitions in the recent years include acquisition of MyoScience by Pacira for $220 million in 2019, acquisition of Claris Injectables by Baxter for $625 million in 2017, acquisition of GSK's anesthetics portfolio by Aspen for $238.7 million in 2017, and acquisition of Hospira by Pfizer for $17 billion in 2015.
In 1977, the US food and drug administration released a document outlining the guidelines to be followed when conducting clinical trials for general anesthetic drugs. This document gives instructional information on how to select clinical subjects, proper drug administration procedures and important metrics to be noted down. Examples of important metrics include signs of relaxation, salivation and feelings of irritation after administering the anesthetic. This document was revised in 1982 and is still in use today. Regulations such as these are expected to keep a check on the general anesthetic drugs market.
Major players in the market are Baxter, Abbott Laboratories, AstraZeneca, F. Hoffmann-La Roche AG, B. Braun Melsungen AG
- Markets Covered: 1) By Type: General Anesthetics, Local Anesthetics 2) By Application: General Surgeries, Plastic Surgery, Cosmetic Surgeries, Dental Surgeries, Other Applications 3) By Route of Administration: Inhalation Anaesthesia Drugs, Intravenous Anaesthesia Drugs, Topical Anaesthesia Drugs 4) By Local Anesthetics: Bupivacaine, Ropivacaine, Lidocaine, Chloroprocaine, Articaine, Benzocaine, Other Local Anesthesia Drugs 5) By General Anesthetics: Propofol, Sevoflurane, Desflurane, Dexmedetomidine, Remifentanil, Midazolam, Other General Anesthesia Drugs
- Companies Mentioned: Baxter, Abbott Laboratories, AstraZeneca, F. Hoffmann-La Roche AG, B. Braun Melsungen AG
- Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
- Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
- Time Series: Five years historic and forecast.
- Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- AbbVie Inc.
- Boehringer Ingelheim International GmbH
- Eisai Co. Ltd
- Fresenius SE & Co. KGaA
- Hikma Pharmaceuticals PLC
- PAION AG
- Hameln Pharmaceuticals
- Maruishi Pharmaceuticals
- Pacira Pharmaceuticals Inc
- Piramal Group
- Novartis International AG
- MYLAN NV
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