Global Local Anesthesia Drugs Market - Segmented by Type of Anesthetics, and Application - Growth, Trends and Forecasts (2018 - 2023)
The global local anesthesia drug market has been estimated to reach USD 6.02 billion in 2017.The global Local Anesthesia Drugs market is expected to register a CAGR of 3.9% during the forecast period, 2018 to 2023. North America dominates the market due to the growing demand of propofol.
Rising Number of Surgeries
According to the Center for Disease Control and Prevention (CDC), the total number of inpatient surgeries performed in the United States grew to 51.4 million, with the cardiology, surgical, and obstetrical procedures being the most common ones. In Europe, a greater number of surgeries are being performed for cases of cataract, tonsillectomy, colonoscopy, caesarean sections, and hip replacements. In addition, a number of procedures, such as cochlear implantation, laparoscopic colectomy, laparoscopic hysterectomy, secondary hip replacement, and knee replacement, have become more frequent in the recent years. NHS UK reports that there were around 4.7 million surgical admissions in 2013-14 in the United Kingdom, and during 2003-2014, the number of surgical procedures rose by 27%. The most common surgical procedures in the United Kingdom are hernia repairs, hip replacement, knee replacement, gall bladder removal, and tonsillectomies.
Additionally, NEW APPROVALS OF ANESTHETIC DRUGS AND INCREASE IN NUMBER OF COSMETICS SURGERIES ARE FUELLING THE GLOBAL LOCAL ANESTHESIA DRUGS MARKET.
Risk of Side Effects of Anesthetic Drugs
General anesthetic drugs causes several side-effects, including nausea, vomiting, dry mouth, sore throat, shivering, muscle aches, disorientation, itching, sleepiness, and mild hoarseness. Serious complications of the drug include delirium, cognitive dysfunction, and malignant hyperthermia. General anesthetic drugs can cause physiological changes, like blood pressure variations, and due to this, a trained anesthesiologist is expected to continuously monitor the patient’s blood pressure levels, providing blood pressure medications whenever necessary. Carelessness or lack of knowledge of the anesthesiologist could pose potential risks. Hence, the side-effects of general anesthesia and patient’s reluctance toward using it, are the factors that are restraining the segment’s growth.
Also, REGULATORY ISSUES BY THE GOVERNMENT are also restraining the Global Local Anesthesia Drug market.
North America to Dominate the Market
The Global local anesthesia drug market is segmented into type of anesthetics (general and local anesthetics), by application, by route o administration and by geography. By geography it is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America.
North America dominates the global local anesthesia drugs market due to the increased demand of propofol, increasing focus of large number of vendors towards exploring new routes of administration such as oral and topical will also drive the preference in the anesthetic drugs market.
Key Developments in the market