Global Anesthetics Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Overview and Scope
Anesthetics refer to any refer to any substance, including pain, that causes a local or widespread lack of sensation. Anesthesia suppresses reactions to sensory input by acting on the brain or peripheral nervous system. These drugs are used to give a sense of calm to patients through muscle relaxation, which also causes amnesia.

Sizing and Forecast
The anesthetics market size has grown strongly in recent years. It will grow from $9.2 billion in 2023 to $9.77 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%.  The  growth in the historic period can be attributed to historical industry shifts and market competition, historical environmental and ethical concerns, historical consumer preferences, historical disease outbreaks and pandemics, economic conditions and healthcare expenditure.

The anesthetics market size is expected to see strong growth in the next few years. It will grow to $12.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.  The growth in the forecast period can be attributed to market demand variation, advancements in drug formulations, emerging markets and demographics, consumer preferences and awareness, competitive landscape and industry consolidation. Major trends in the forecast period include cost-effective anesthetic solutions, global health challenges, regulatory changes and safety measures, awareness and training, drug development and innovation.

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Segmentation & Regional Insights
The anesthetics market covered in this report is segmented –
1) By Type: General Anesthetics, Local Anesthetics
2) By Route of Administration: Inhalation Anaesthesia Drugs, Intravenous Anaesthesia Drugs, Topical Anaesthesia Drugs
3) By Application: General Surgeries, Plastic Surgery, Cosmetic Surgeries, Dental Surgeries, Other Applications

Sub-Segments- By Local Anesthetics: Bupivacaine, Ropivacaine, Lidocaine, Chloroprocaine, Articaine, Benzocaine, Other Local Anesthesia Drugs
By General Anesthetics: Propofol, Sevoflurane, Desflurane, Dexmedetomidine, Remifentanil, Midazolam, Other General Anesthesia Drugs

North America was the largest region in the anesthetics market in 2023. Middle East is expected to be the fastest-growing region in the global anesthetics market during the forecast period. The regions covered in the anesthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increase in the number of accidents is one of the major drivers of the 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, the number of road accidents reached 1.35 million, with approximately 64 deaths for every 100,000 vehicles.

Key Industry Players
Major companies operating in the anesthetics market report are Connecticut General Life Insurance Company, Pfizer Inc., F. Hoffmann-La Roche AG, AbbVie Inc., Novartis International AG, AstraZeneca plc, Abbott Laboratories Inc., Boehringer Ingelheim International GmbH, Fresenius SE & Co. KGaA, Viatris Inc., Baxter International Inc., Teva Pharmaceutical Industries Limited, Mylan NV, B. Braun Melsungen AG, Eisai Co. Ltd., Sun Pharmaceutical Industries Ltd., Reddy's Laboratories Inc., Hikma Pharmaceuticals plc, Aspen Pharmacare Holdings Limited, Amneal Pharmaceuticals LLC, Mallinckrodt Pharmaceuticals Ltd., Piramal Enterprises Limited, Pacira BioSciences Inc., Maruishi Pharmaceuticals Co. Ltd., Claris Lifesciences Limited, Paion AG, Thera Wise, Hameln Pharmaceuticals Ltd., DLC Laboratories Inc., Verve Health Care Ltd.

The anesthetics market report table of contents includes:
1. Executive Summary
2. Anesthetics Market Characteristics
3. Anesthetics Market Trends And Strategies
4. Anesthetics Market - Macro Economic Scenario
5. Global Anesthetics Market Size and Growth
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32. Global Anesthetics Market Competitive Benchmarking
33. Global Anesthetics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Anesthetics Market
35. Anesthetics Market Future Outlook and Potential Analysis
36. Appendix