General Anesthesia Drugs Market Expected to Reach $7.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “General Anesthesia Drugs Market," The general anesthesia drugs market size was valued at $5.4 billion in 2021, and is estimated to reach $7.7 billion by 2031, growing at a CAGR of 3.5% from 2022 to 2031. General anesthesia drug is defined as state of controlled unconsciousness in which the anesthesiologist administers drug through a mask or an intravenous catheter placed in the vein. Mostly general anesthesia is used in long operations and painful surgical procedures. The primary goal of general anesthesia is to make a patient unconscious and unable to feel painful stimuli.  The five main types of anesthetic agents include intravenous anesthetics, inhalational anesthetics, IV sedatives, synthetic opioids, and neuromuscular blocking. General anesthesia is most commonly used for major operations such as knee replacement surgery, hip replacement surgery, heart surgery, cancer surgery, and gastro-intestinal surgery.  

Factors that drive the growth of the general anesthesia drugs market share include increase in number of surgical procedure, rise in prevalence of cancer, surge in geriatric population, and increase in number of manufacture to develop general anesthesia drugs. According to the Journal of JAMA Netw Open, in December 2021, around 5. 9 million population were reported to have undergone surgical procedure in the U.S. This factor is expected to propel the general anesthesia drugs market growth.  
Moreover, increase in the geriatric population causes rise in the number of surgeries which drives the general anesthesia drugs market trends. As the geriatric population are more prone to cardiovascular disease which leads to increase in the number of cardiac surgeries. Increase in the number of osteoporosis in old age people leads to increase in the number of knee and hip replacement surgeries. According to the World Health Organization (WHO) in October 2021, by 2030, 1 in 6 population in the world will be aged 60 years or over. Moreover, according to the Journal of JAMA Netw Open, in 2021, about 32% of surgical procedure in the U.S were reported to have conducted in patients aged more than 65 years. Thus geriatric population is more prone to surgical procedure.  

Increase in the number of general anesthesia drugs industry who manufacture general anesthesia propels the growth of the market. For instance, in April 2020, Hikma pharmaceutical Plc, a pharmaceutical company, announced the launch of vecuronium bromide for Injection, which is a new general anesthesia drug. It is indicated as an adjunct to general anesthesia, to facilitate endotracheal intubation and to provide skeletal muscle relaxation during surgery or mechanical ventilation. Moreover, in May 2020, Hikma, also announced the launch of propofol injectable emulsion which is an intravenous general anesthesia drug used in surgical procedure. 

The general anesthesia drug market is segmented on the basis type of drug, route of administration, surgery type, end user, and region. 
On the basis of type of drug, the market is classified into propofol, sevoflurane, desflurane and others. The others segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in the launch of novel general anesthesia drugs, and increase in number of approval for general anesthesia drugs.
On the basis of route of administration, the market is classified into intravenous and inhalation. The inhalation segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in number of diagnostic procedure, and increase in government support regarding the use of inhalation anesthesia.
On the basis of surgery type, the market is classified into knee & hip replacements, heart surgeries, cancer surgery, general surgery. The knee & hip replacement segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in prevalence of osteoarthritis, rise in number of arthroplasty procedure, and increase in accident and sport related knee and hip injury.
On the basis of end user, the market is classified into hospital and ambulatory surgical centers. The hospital segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in the number of hospitals, and rise in the expenditure by government to improve healthcare industry. 
North America garnered a major share in the general anesthesia drugs market in 2021, and is expected to continue to dominate the market during the forecast period, owing to rise in prevalence of chronic disease, increase in number of approval for general anesthesia drug, presence of key players, and development in R&D activities in healthcare sector in the region. However, Asia-Pacific is expected to register highest CAGR of 4.2% from 2022 to 2031, owing to increase in prevalence of cardiovascular disease, rise in number of surgical procedure, and growth in health care expenditures.

The COVID-19 outbreak is anticipated to have a negative impact on growth of the general anesthesia drug market. The pandemic has stressed healthcare systems in the world and cause decline in the demand of general anesthesia drug due to canceled or postpone of elected surgeries. According to the report share by British Journal of Surgery in May 2020, it was reported that, approximately 28.4 million elected surgeries estimated to be canceled in 2020 over the globe. According to the report share by National Library Medicine in July 2020, after excluding emergency surgical procedures, it was estimated that about 30,000 primary and 3000 revision knee and hip replacement arthroplasty procedures was canceled each week in the U.S In current scenario, the number of surgeries which got cancelled or postponed during COVID-19 pandemic were rescheduled. 

KEY FINDINGS OF THE STUDY

• By type of drug, the others segment was the highest contributor to the market in 2021.
• By route of administration, the inhalation segment was the highest contributor to the market in 2021.
• By surgery type, the knee & hip replacement surgery segment dominated the market in 2021 and is expected to continue this trend during the forecast period.
• By end user, the hospital segment was the highest contributor to the market in 2021.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.