Region:North America
Author(s):Muskan Chugh
Product Code:KROD207
US Anesthesia Drug Market is concerned with the development of anesthesia drugs which are primarily used in surgeries to numb the pain. Every year, almost 6 million surgical cases are performed in the US which results in the increasing demand for anesthesia drugs.
According to Ken Research, the US Anesthesia Drug market is anticipated to grow at a CAGR of ~4% in the next five years owing to rise in surgical cases, geriatric population, chronic pain and technological advancements.
The United States Anesthesia Drug market is significantly growing to various reasons such as rise in surgical procedures, rise in geriatric population, technological advancements and rise in cases of chronic pain. There has been a significant rise in surgical procedures done in the US over the years. Increase in ageing population results in increase in surgical procedures which ultimately rises the demand for anesthesia drugs. In the past 5 decades, the ageing population has gone from ~25,000 per 100,000 people in 1980s to ~54,000 per 100,000 people in 2020s. Technological advancements also play a greater role in the growth of US Anesthesia Drugs. Various technologies such as 3d Bioprinting, Cryo-Em, Next generation Proteomics, Cloud computing, wearable sensors and IoT are used in the development of anesthetic drugs. Furthermore, rise in chronic pain cases also requires the use of anesthesia in some cases. Almost 50 million US people suffer from chronic pain and almost 17 million people suffer from high impact chronic pain. Such high number also results in demand for anesthesia drugs.
The US anesthesia drug market comprises pharmaceutical companies, medical device manufacturers, healthcare providers, and regulatory bodies. It involves the production, distribution, and administration of drugs used to induce anesthesia during medical procedures. Key players include Pfizer, Baxter, and AbbVie, while hospitals, clinics, and ambulatory surgical centers form the demand side. This ecosystem is influenced by medical advancements, patient safety regulations, and market competition. The evolving landscape emphasizes research and development for safer and more effective anesthesia drugs, while ensuring compliance with FDA standards to meet the needs of healthcare professionals and patients.
US Anesthesia Drug market is equipped with many top players such as Baxter International Inc., AbbVie, Abbott Laboratories, Hospira, Pacira Biosciences Inc., Pfizer, and Endo International. The US Anesthesia Drug market players can primarily be divided into General Anesthesia Drug market players and Local Anesthesia drug market players.
By drug type: In 2022, General Anesthesia Drugs dominated the US Anesthesia Drugs Market. General Anesthesia drugs are such anesthetics which make you fully unconscious during a surgery.
The major reasons behind their dominance in the US Anesthesia Drugs market is that most of the surgeries such as cardiovascular surgeries, general surgeries, cancer surgeries, surgeries involving hip and knee replacements require the use of General Anesthesia.
When most of the surgeries require the patient to be completely unconscious, the demand for general anesthesia drugs rises which ultimately results in general anesthesia drugs being the dominant segment in the US Anesthesia Drugs market.
By Application: In 2022, General Surgery dominated the US Anesthesia Drug market. General surgery is a broad segment of all types of surgeries which involves doing any surgical procedure anywhere in the body.
The main reason behind the dominance of General surgeries in the United States is that most of the surgeries (except dental, cosmetic and plastic surgery) come under the category of General Surgery.
Some of the surgeries that come under the category of General surgery are Breast surgery, Cardio-thoracic surgery, Color-ectal surgery, Endocrine surgery, Laparoscopic surgery, Onco surgery, Pediatric surgery, Transplant surgery and trauma surgery.
Since most of the major surgeries are a part of General Surgery segment, thus, this segment has dominance in the US Anesthesia Drug as this segment generates most of the demand for Anesthesia drugs.
By Geography: The northern region of US dominated the US Anesthesia Drug market in 2022. The major reason behind this region being the dominant segment is that this region, primarily Illinois, is home to major players of US Anesthesia Drugs companies as well as many top hospitals.
Major anesthesia drugs companies such as Baxter International, Hospira, AbbVie, Abbott Laboratories are situated in the northern region of the United States, primarily in the Illinois.
Moreover, there are also many top-notch hospitals located in this area such as Mayo Clinic, Cleveland Clinic, Memorial Sloan Kettering Cancer Centre, Dana Farber Cancer Institute, Hospitals of University of Pennsylvania, Northwestern Memorial Hospital, Barns-Jewish Hospital, etc.
As more and more people come to these hospitals to get surgeries, this also helps in generating the demand for anesthesia drugs.
There is also presence of many healthcare companies in the northern US. There are approximately 9000 healthcare companies in this region. The presence of this high number of companies also helps in making this region as the dominant segment of US Anesthesia Drugs market.
Thus, due to the presence of major anesthesia companies, hospitals, and healthcare companies, this segment happens to be the
The United States Anesthesia Drugs market is equipped with many well-established players making all type of Anesthesia drugs primarily Local Anesthesia drugs and General Anesthesia drugs.
Some of the well-known overall anesthesia drugs makers include Baxter International Inc., AbbVie, Abbott Laboratories, Hospira, Pacira Biosciences Inc., Pfizer, and Endo International.
These companies vie for market share through innovation, product efficacy, and pricing strategies. The landscape is dynamic, with a focus on developing advanced anesthetic agents with fewer side effects and quicker recovery times. The ongoing pursuit of superior formulations, coupled with stringent regulatory oversight by the FDA, shapes a competitive environment centered on providing safe, efficient, and cost-effective anesthesia solutions for healthcare providers and patient.
The US Anesthesia Drug Market is expected to grow at a CAGR of ~4% between the time period 2022-2028 owing to rise in ageing population, rise in surgical procedures, technological advancements, and rise in chronic pain patients.
US Anesthesia Drug Market Segmentation |
|
By Drug type |
General Anesthesia Drug Local Anesthesia Drug |
By Application |
General surgery Dental Surgery Plastic surgery Cosmetics surgery Others |
By Geography |
North East West South Central |
2.1 Taxonomy of the Market
2.2 Industry Value Chain
2.3 Ecosystem
2.4 Government Regulations/Initiatives for the Market
2.5 Growth Drivers of the US Anesthesia Drug Market
2.6 Issues and Challenges of the US Anesthesia Drug Market
2.7 Impact of COVID-19 on US Anesthesia Drug Market
2.8 SWOT Analysis
4.1 By Type of drug, 2017 - 2022
4.2 By Application 2017 – 2022
4.3 By Regional Split (North/East/West/South/Central), 2017 - 2022
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles
5.3.1 Baxter International
5.3.2 Abbvie
5.3.3 Abbott Laboratories
5.3.4 Hospira Inc.
5.3.5 Endo International
5.3.6 Pfizer
5.3.7 Pacira Biosciences Inc.
7.1 By Type of drug, 2022 - 2028
7.2 By Application, 2022 – 2028
7.3 By Regional Split (North/East/West/South/Central), 2022 - 2028
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Collating statistics on anesthesia drugs over the years, penetration of anesthesia drugs. We will also collect anesthesia drug companies’ statistics to understand annual growth and outstanding amount which can ensure accuracy behind the data point shared.
Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Our team will approach multiple anesthesia drugs providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from US Anesthesia Drug providers.
The US Anesthesia Drugs Market size is expected to grow from USD 2.5 billion in 2023 to USD 3.5 billion by 2028, at a CAGR of 4% during the forecast period (2023-2028)
Baxter International, Abbott Laboratories, Hospira, AbbVie, Endo International and Pfizer.
Factors propelling the growth of this market are the rising number of surgeries and new anesthesia drug approvals.
In 2022, General Anesthesia Drugs dominated the US Anesthesia Drugs Market. General Anesthesia drugs are such anesthetics which make you fully unconscious during a surgery.
Technology is constantly evolving and it will continue to do so in the future. Right now, there are various technological advancements in the field of anesthesiology such as 3d Bioprinting, Cryo-Em, Next generation Proteomics, Cloud computing, wearable sensors and IoT which make the work easier, faster and effective which helps in accelerating the US Anesthesia Drug market.
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