General Anesthesia Drugs market Projected to Reach US$ 5,549.7 Mn by 2025: FMI
Posted by Pradnya Kulkarni on June 20th, 2017
Future Market Insights (FMI) delivers key insights on the global general anaesthesia drugs market in its upcoming outlook titled, “General Anaesthesia Drugs Market: Global Industry Analysis and Opportunity Assessment, 2015 – 2025”. In terms of value, the global General Anaesthesia Drugs market is projected to register a healthy CAGR of 3.8% during the forecast period due to various factors, FMI’s report offers vital and detailed insights about the said factors.
The market is segmented on the basis of product and region. On the basis of product, the market has been segmented in to: Propofol, Sevoflurane, Dexmedetomidine, Desflurane, Remifentanil, Midazolam and Others. The Propofol segment is estimated to account for 29.8% share of the global general anaesthesia drugs market by end of 2015, and is expected to register a robust CAGRs of 5.4% in terms of value during the forecast period. In terms of revenue, Propofol is currently witnessing major contribution from Asia Pacific, North America and parts of Western Europe. Increasing incidences of cardiovascular disease related surgeries are likely to further fuel market growth during the forecast period. Sevoflurane segment is expected to exhibit a CAGR of 4.6% in terms of value during the forecast period.
Growth of the global General Anaesthesia Drugs market is primarily driven by increasing incidence of surgeries related to cardiovascular diseases, accidents, carniomaxillofacial deformities, chronic respiratory disease, and joint replacement surgeries, especially among the geriatric population. Other trends driving market growth include strategic alliances among key players in the market, manufacturers eyeing intravenous general anaesthesia drugs market share, and expansion of healthcare sector in developing countries due to growing investments by major players. In addition, surge in demand for general anaesthesia drugs in all major and moderate surgeries owing to increasing health awareness and growing disposable income is projected to result in increased spending on general anaesthesia drugs. This in turn, is expected to bolster general anaesthesia drugs market growth during the forecast period (2015–2025).
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This report assesses trends driving each segment and offers analysis and insights about the potential of general anaesthesia drugs market in specific regions. North America is estimated to dominate the general anaesthesia drugs market with 31.0% market share by end of 2015. North America and Western Europe are collectively expected to account for over 56.9% of the total general anaesthesia drugs market share, in terms of value by end of 2015. The Asia Pacific excluding Japan market is estimated to witness the highest CAGR of 5.2% over the forecast period, followed by Latin America due to increasing incidences of surgeries related to cardiovascular and chronic respiratory diseases. Asia Pacific excluding Japan is expected to dominate the general anaesthesia drugs market with 31.1% market share by end of 2025. Sevoflurane is mostly used for maintaining the sedative stage in patients during the surgical procedure, and is expected to account for US$ 1,257.0 Mn by end of 2025.
Key players of the global general anaesthesia drugs market such as: Baxter International Inc., AstraZeneca, AbbVie Inc., B. Braun Melsungen AG, Fresenius SE & Co. KGaA, and Hospira Inc. focus on making substantial investments in research and development to enhance the general anaesthesia drug quality by minimize side effects and maximize efficacy, in order to offer competitive advantage and create high entry barriers for new players attempting to enter the general anaesthesia drugs market.
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About the AuthorPradnya Kulkarni
Joined: December 22nd, 2016
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