Asia-Pacific Anesthesia Drugs Market Size

APAC Anesthetic Drugs Market Analysis

The market for anesthesia drugs in Asia and the Pacific is expected to register a CAGR of 5.9% over the next few years.

COVID-19 impacted the growth of the anesthesia drugs market in the region. Surgery postponements or cancellations that occurred during the pandemic resulted in a modest drop in anesthetic drug demand. For instance, according to an article published in NCBI, in May 2020, about 5.8 lakh elective surgeries were postponed in India due to lockdown and other restriction measures imposed by the government. Thus, the delayed elective surgery cases impacted the demand for anesthesia drugs in the region during the pandemic. However, with the released restrictions, the number of surgical procedures resumed, which increased the demand for general and local anesthesia drugs. Thus, the studied market is expected to bounce back to its full potential in the coming years.

Factors such as the increasing geriatric population, a rise in the number of surgical procedures requiring anesthesia, the rising number of patients due to chronic diseases, and growing anesthesia product approvals are boosting market growth.

The rising prevalence and incidence of chronic diseases among the population, coupled with the increasing geriatric population, is the key factor driving the market's growth. For instance, according to the Australian Bureau of Statistics, in March 2022, the prevalence of heart disease in Australia was 4.0%, down from 4.0% in 2020-2021, which equates to about 1 million people. Also, according to the 2022 statistics published by UNPF, about 68% of the population living in Asia-Pacific was aged between 15 and 64 years old in 2022, and 9% of the population was aged 65 years and older in 2022. Thus, the increasing burden of cancer and heart disease increases the need for surgical procedures, which in turn is anticipated to fuel the demand for anesthetic drugs. This is anticipated to drive market growth over the forecast period.

Additionally, the increasing number of surgeries raises the demand for anesthetic drugs, which in turn is expected to fuel market growth. For example, Hexahealth published a report in October 2022 estimating that 60,000 bypass surgeries are performed in India each year.According to a study published in the Journal of Orthopaedic Science, by 2030, approximately 4,052 knee arthroplasties will be performed on men between the ages of 40 and 64, 6,942 on men between the ages of 65 and 74, and 14,986 on men over 75 in Japan.In addition, as per the same source, about 7,092 knee arthroplasty procedures are expected to be performed on women between the ages of 40 and 64 years, 22,957 on women between the ages of 65 and 74 years, and 58,340 on women over 75 years in Japan by 2030. Thus, the expected increase in the number of surgical procedures raises the demand for local and general anesthesia during surgical procedures, which in turn is anticipated to bolster the market's growth over the forecast period.

Therefore, owing to factors such as the increasing geriatric population, growing number of surgical procedures, and high burden of chronic diseases, as well as increasing product launches, the studied market is expected to grow over the forecast period. However, the side effects of general anesthesia and strict government regulations regarding product approvals are likely to impede the growth of the anesthesia drugs market in the Asia-Pacific region over the forecast period.