Market Trends of Global General Anesthesia Drugs Industry
Propofol Segment is Expected to Witness a Notable Growth Over the Forecast Period
Propofol is an intravenous anesthetic agent used for the induction and maintenance of general anesthesia. Intravenous (IV) administration of Propofol is used to induce unconsciousness, after which anesthesia may be maintained using a combination of medications. Propofol is used for the induction maintenance of anesthesia and the management of refractory status epilepticus. The drug has always been used for various surgical procedures requiring anesthesia.
The increasing incidences of emergency surgeries, a growing senior population, extensive usage of the drug, short-acting characteristics, and a growing number of surgical procedures worldwide are the major factors propelling the segment's growth. For instance, as per the World Health Organization 2023 report, the incidences of traumatic injuries, cancers, and cardiovascular disease continue to rise, and the impact of surgical intervention on public health systems may continue to grow globally. Surgery is the only therapy that can alleviate disabilities and reduce the risk of death from common conditions. Each year, many people undergo surgical treatment, and surgical interventions account for an estimated 13% of the world’s total disability-adjusted life years. For instance, as per the November 2023 update by the Centers for Disease Control and Prevention, about 25 million emergency department visits for unintentional injuries were reported in the United States in the past two years. As per the same source, the share of adults age 18 and older who had an activity-limiting injury during the last three months of 2023 was 5.9%. Hence, an increase in cases of injuries and related surgeries is expected to bolster the adoption of Propofol, leading to segment growth over the forecast period.
Furthermore, key market players and their strategic activities, such as product launches and collaborations, are expected to favor the segment’s growth over the forecast period. For instance, in August 2022, Genixus, a pharmaceutical company focused on transforming acute and critical care medicines, reported offering Propofol as the first product within its KinetiX platform of RTA syringe products at the Annual National Pharmacy Purchasing Association Conference. The new Propofol Syringe is one of the first products available within the Kinetix RTA platform, designed to simplify workflow and support effective care delivery. Similarly, in April 2022, Avet Pharmaceuticals Inc. launched its Propofol Injectable Emulsion, USP 10 mg/mL, in 20, 50, and 100-ml Single Patient-Use Vials, an AB-rated generic equivalent of DIPRIVAN (Propofol) Injectable Emulsion USP, following its abbreviated new drug application approval from the Food and Drug Administration (FDA).
Hence, owing to the benefits of Propofol, the new developments, and the need for surgical interventions, the segment is believed to witness considerable growth during the forecast period.
North America is Expected to Witness a Significant Growth Over the Forecast Period
North America is expected to witness significant growth over the forecast period due to the region's increased risk of chronic diseases and favorable healthcare infrastructure. Furthermore, an increase in the aging population, along with the demand for surgical procedures, also contributes to the growth of the market in North America.
For instance, the increased risk of cardiovascular diseases is elevating the need for various general anesthesia drugs to treat patients. According to the Centers for Disease Control and Prevention, in 2022, it was stated that every year, around 805,000 people in the United States have a heart attack, out of which 605,000 have a first heart attack and about 200,000 people have already had a heart attack have a second attack. Hence, this factor is elevating the growth of the market. Additionally, general anesthesia is commonly used for major operations, such as knee replacement or open-heart surgery. For instance, according to the article update published in August 2023 in the National Library of Medicine, approximately 400,000 coronary artery bypass grafting (CABG) surgeries are performed yearly, making it the most performed major surgical procedure in the United States. Thus, a high prevalence of cardiac surgery procedures across the United States may create a demand for general anesthetic drugs, fueling the market’s growth over the forecast period.
Moreover, according to the Demographic Outlook: 2024 to 2054 published by the Congressional Budget Office (CBO), in 2024, the ratio of people aged 25 to 64 to 65 or older maybe 2.9 to 1, CBO projects. By 2054, it may be 2.2 to 1. Growth in the aged population resulted in a sharp increase in the number of chronic conditions among older people, such as cardiovascular and neurological ailments, driving up demand for anesthetic medicines.
Furthermore, increased product launches, regulatory approvals, and clinical trial studies for general anesthetic drugs are further expected to fuel the US market’s growth over the forecast period. For instance, in April 2022, Sedana Medical conducted a clinical trial in the United States to compare the safety and efficacy of inhaled isoflurane administered via the Sedaconda ACD-S device system versus intravenous propofol for sedation of mechanically ventilated patients in the Intensive Care Unit (ICU). Hence, such results and further benefits offered by general anesthetic drugs will likely increase their adoption in North America, leading to market growth over the forecast period.
Hence, due to the increase in surgical procedures, the rise in clinical studies to demonstrate the efficacy of anesthesia drugs, and the presence of major market players coupled with their strategic activities, such as product launches, the market is expected to witness notable growth in North America.
