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The Europe anesthesia drugs market was valued at approximately USD 1,550 million in 2020, and it is expected to reach USD 1,845 million by 2026, registering a CAGR of 3.40% during the forecast period, 2021-2026.
During the COVID-19 pandemic, intensivists and anesthesiologists collaborated to treat COVID-19 patients. Ventilated COVID-19 patients often require high doses of intravenous sedative drugs, such as propofol, midazolam, ketamine, and dexmedetomidine. Thus, initially, there was a growing shortage of these drugs, which had affected the market during the initial period. However, several studies of patients with severe lung injury from causes other than COVID-19 have shown that inhalational anesthetic drugs improve oxygenation and lower mortality compared to propofol or midazolam. The severity of lung injury in COVID-19 patients correlates with levels of cytokines and viral load. Thus, this has increased the demand for these anesthetics drugs, which will boost the market growth.
Moreover, the use of inhalational anesthetic drugs for ventilated COVID-19 patients is both practical and cost-effective in low- and high-income countries. These drugs allow sedation levels to be closely and rapidly controlled. These drugs reduce inflammation, dilate airways, and improve oxygenation, thus opening up new horizons for the market.
Certain factors driving the market growth include an increasing number of surgeries, new approvals of anesthetic drugs, and a reduction in the cost of newly invented drugs.
In Europe, the number of surgeries being performed is increasing every year. The increase in the number of surgeries performed has a considerable impact on the anesthetics market, as anesthetics are widely used in all surgical procedures to reduce pain during surgery. According to the research article published in 2017, “Epidemiologic and Economic Burden Attributable to First Spinal Fusion Surgery: Analysis from an Italian Administrative Database”, it was estimated that out of the mean population, 17,772 females, approximately 55.3%, had undergone spinal fusion surgeries.
In Europe, an increasing number of surgeries are being performed for cases of cataract, tonsillectomy, colonoscopy, cesarean sections, and hip replacements. It was found that around 1.4 million cesarean sections were performed in Europe in 2017. Along with rising surgeries, factors such as new anesthetic drugs are also driving the market.
However, general anesthetic drugs cause several side effects, including nausea, vomiting, dry mouth, sore throat, shivering, muscle aches, disorientation, itching, sleepiness, and mild hoarseness. Other factors such as lack of skilled anesthetics and regulatory issues are restraining the market growth.
Scope of the Report
As per the scope of this report, anesthesia is a drug that causes a reversible loss of sensation. There are several types of anesthetics available in the market, such as general anesthesia, spinal anesthesia, IV regional anesthesia, local anesthesia, peripheral nerve block, and saddle block or caudal anesthesia. The Europe anesthesia drugs market is segmented by drug type (general anesthesia drugs (propofol, sevoflurane, desflurane, dexmedetomidine, remifentanil, midazolam, and other general anesthesia drugs) and local anesthesia drugs (bupivacaine, ropivacaine, lidocaine, chloroprocaine, articaine, benzocaine, and other local anesthesia drugs), route of administration (inhalation, injection, and other routes of administration), application (general surgeries, plastic and cosmetic surgeries, dental surgeries, and other applications), and geography (United Kingdom, Germany, France, Italy, Spain, and Rest of Europe). The report offers the market size and forecasts in value (USD million) for the above segments.
|By Drug Type|
|By Route of Administration|
|Other Routes of Administration|
|Plastic and Cosmetic Surgeries|
|Rest of Europe|
Key Market Trends
Application in Plastic and Cosmetic Surgeries is Expected to Witness High Growth
COVID-19 has hugely affected plastic and cosmetic surgeries as most of these surgeries are considered elective surgeries that were initially kept on hold. However, as of now, the elective surgeries have restarted with precautionary measures, which may lead to steady growth in the segment during the forecast period.
The advances in plastic surgery have been furthered by the progress in anesthesiology, making it the cornerstone on which surgical progress has been made. The availability of new anesthetics and adjuvant drugs, advances in trans- and postoperative monitoring, and the early prevention of complications have facilitated these advances. The growth of outpatient procedures in cosmetic surgery requires effective anesthetic techniques that allow safe home returns shortly after the surgery is over. No surgical procedure in plastic surgery is performed without the presence of a qualified anesthesiologist.
Moreover, the number of cosmetic procedures has increased in Europe over the years. For instance, as per a 2018 report by the International Society of Aesthetic Plastic Surgery, the number of surgical cosmetic procedures in Germany increased from 308,258 in 2015 to 385,906 in 2018. This also increased the demand for anesthesia, as it plays a vital role in surgery. Hence, as this trend continues in the future, the market is also expected to grow.
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The Europe anesthesia drugs market is highly competitive and consists of a few major players. In terms of market share, a few of the major players currently dominate the market. Companies like AbbVie Inc., B. Braun Melsungen AG, Baxter, Fresenius SE & Co. KGaA, and Pfizer Inc., among others, hold substantial shares in the market.
In August 2020, the German company, PAION AG, launched the anesthetic product ANEREM (REMIMAZOLAM) for general use in anesthesia.
In October 2020, Fresenius Kabi introduced another anesthetic, D+RFID smart-labeled product - Diprivan (propofol), in a 20 mL vial.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Surgeries and Emergency Cases
4.2.2 Growing Geriatric Population, coupled with the Rising Prevalence of Chronic Diseases
4.3 Market Restraints
4.3.1 Side Effects of Anesthesia Drugs
4.3.2 Increasing Usage of Generic Anesthesia Drugs and Lack of Skilled Anesthesiologists in European Countries
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Drug Type
5.1.1 General Anesthesia Drugs
220.127.116.11 Other General Anesthesia Drugs
5.1.2 Local Anesthesia Drugs
18.104.22.168 Other Local Anesthesia Drugs
5.2 By Route of Administration
5.2.3 Other Routes of Administration
5.3 By Application
5.3.1 General Surgeries
5.3.2 Plastic and Cosmetic Surgeries
5.3.3 Dental Surgeries
5.3.4 Other Applications
5.4.1 United Kingdom
5.4.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 AbbVie Inc.
6.1.2 Baxter International Inc.
6.1.3 B. Braun Melsungen
6.1.4 Pfizer Inc.
6.1.5 Fresenius SE & Co. KGaA
6.1.6 Aspen Pharmacare Holdings Limited
6.1.7 F. Hoffmann-La Roche AG
6.1.8 Piramal Group
6.1.9 Mylan NV
6.1.10 Teva Pharmaceutical Industries Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Europe Anesthesia Drugs Market market is studied from 2018 - 2026.
What is the growth rate of Europe Anesthesia Drugs Market?
The Europe Anesthesia Drugs Market is growing at a CAGR of 3.4% over the next 5 years.
Who are the key players in Europe Anesthesia Drugs Market?
- Aspen Pharmacare Holdings Limited
- Piramal Group
- Mylan NV
- Baxter International
- AbbVie Inc.
Are the major companies operating in Europe Anesthesia Drugs Market.