The global local anesthesia drug market was estimated at 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 for 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 the patient’s reluctance toward using it, are restraining the segment’s growth.
Further, regulatory issues by the government are also restraining the global local anesthesia drugs market.
North America to Dominate the Market
The global local anesthesia drugs market is segmented by type of anesthetics (general and local anesthetic), application, route of administration, and geography. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America dominates the global local anesthesia drugs market due to the increased demand for propofol, and increasing focus of large number of vendors toward exploring new routes of administration, such as oral and topical, will also drive the customer preference in the anesthetic drugs market.
Key Developments in the Market
- August 2017: Akovaz (Ephedrine Sulfate) injection manufactured by Sandoz Inc. for the treatment of clinically important hypotension got approval of FDA.
- July: 2017: Septocaine a local, infiltrative or conductive anesthesia, which is used in dental procedures developed by Hansamed Inc., got FDA approval.
Major Players: Baxter, Mylan, Abbott, Astrazeneca, Roche Holding AG, Teva Pharmaceuticals, Pfizer, Fresenius SE & Co, Actavis, and Hikma Pharmaceuticals PLC, among others.
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- Market analysis for the global local anesthesia drugs market, with region-specific assessments and competition analysis on a global and regional scale.
- Analyze various perspectives of the industry with the help of Porter’s five forces analysis
- The treatment type that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
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1.1 MARKET DEFINITION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. KEY INFERENCES
5. MARKET OVERVIEW
5.1 CURRENT MARKET SCENARIO
5.2 PORTERS FIVE FORCES
5.2.1 BARGAINING POWER OF SUPPLIERS
5.2.2 BARGAINING POWER OF CONSUMERS
5.2.3 THREATS OF NEW ENTRANTS
5.2.4 THREAT OF SUBSTITUTE PRODUCT AND SERVICES
5.2.5 COMPETITIVE RIVALRY WITHIN THE INDUSTRY
6. DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES ANALYSIS (DROC)
6.1 MARKET DRIVERS
6.1.1 RISING NUMBER OF SURGERIES
6.1.2 NEW APPROVALS OF ANESTHETIC DRUGS
6.1.3 INCREASE IN NUMBER OF COSMETICS SURGERIES
6.2 MARKET RESTRAINTS
6.2.1 RISK OF SIDE EFFECTS OF ANESTHETIC DRUGS
6.2.2 REGULATORY ISSUES BY THE GOVERNMENT
6.4 KEY CHALLENGES
6.4.1 MARKET SEGMENTATION
22.214.171.124 SEGMENTATION BY LOCAL ANESTHETICS
6.4.2 OTHER LOCAL ANESTHETICS
126.96.36.199 SEGMENTATION BY APPLICATION
188.8.131.52 PLASTIC SURGERY
184.108.40.206 DENTAL ANESTHETICS
220.127.116.11 SPINAL ANESTHETICS
18.104.22.168 PERIPHERAL NERVE BLOCK
22.214.171.124 INTERSCALENE BLOCK
126.96.36.199 SADDLE BLOCK
7.1 SEGEMENTATION BY GEOGRAPHY
7.1.1 NORTH AMERICA
188.8.131.52 UNITED STATES
184.108.40.206 UNITED KINGDOM
220.127.116.11 REST OF EUROPE
18.104.22.168 AUSTRALIA & NEW ZEALAND
22.214.171.124 SOUTH KOREA
126.96.36.199 REST OF ASIA-PACIFIC
7.1.4 MIDDLE EAST & AFRICA
188.8.131.52 SOUTH AFRICA
184.108.40.206 REST OF MIDDLE EAST & AFRICA
7.1.5 SOUTH AMERICA
220.127.116.11 REST OF SOUTH AMERICA
8. COMPETITIVE LANDSCAPE
8.1 MERGERS AND ACQUISITION ANALYSIS
8.2 AGREEMENTS, COLLABORATIONS & PARTNERSHIPS
8.3 NEW PRODUCTS LAUNCHES
9. COMPANY PROFILES
9.5 ROCHE HOLDING AG
9.6 TEVA PHARMACEUTICALS
9.8 FRESENIUS SE & CO
9.10 HIKMA PHARMACEUTICALS PLC
10. FUTURE OF THE GLOBAL LOCAL ANESTHESIA DRUGS MARKET