Anesthesia is a condition which induces a loss of sensation and awareness in the body, when the certain drugs are administered prior to the surgery. Local anesthesia is the temporary loss of sensation in a particular body part, or says at a localized area.
The launch of new drugs for example, ropivacaine and levobupivacaine is expected to support the growth of the global local anesthetic drugs market in the forecast period.
The rise in surgical procedures has increased the demand for anesthesia drugs in hospitals, clinics, and ASCs. For instance, more than 1 million joint replacement surgeries will be performed every year in the United States, in which about 720,000 knee replacements and 330,000 hip replacements. For major surgery, such as hip or knee replacement, local anesthesia may be used to complement the main type of anesthesia that is used.
According to the Centers for Disease Control and Prevention (CDC), more than 51 million inpatient surgeries and 53 million outpatient surgeries were performed in the United States in 2017, with the cardiology, surgical, and obstetrical procedures being the most common ones.
Market Dynamics
Drivers
- Rising Number of Surgeries
- Growing focus on developing anesthetics for new ROA
- Rising prevalence of cardiovascular and respiratory system-related diseases
Restraints
- Side Effects Associated With the Drugs
- Lack of skilled anesthesiologists
Growing focus on developing anesthetics for new ROA
The growing focus of vendors toward developing anesthesia drugs for new ROAs such as nasal and topical is expected to have a positive impact on the market growth.
As the administration of anesthesia drugs through conventional routes such as intravenous is associated with complications and side effects, the vendors are exploring new ways to improve patient compliance.
They are increasingly conducting R&D activities to develop such drugs. For instance, in October 2016, St. Renatus launched Kovanaze, a nasal-administered dental anesthetic.
The anesthetic is used in restorative procedures in humans who weigh more than 40 kg. The launch of Kovanaze is expected to fuel the adoption rates, owing to its easy administration and enhanced efficacy.
Also, in February 2015, Mydent International DEFEND topical anesthetic gel, which is intended to offer temporary relief of pain during dental procedures. Such new initiatives will likely change the market dynamics in the future.
Geographical Analysis
North America Local Anesthesia market was valued US$ XX million in 2019 and is expected to reach US$ XX million by 2027 with a CAGR of 7.0% during the forecast period 2020 to 2027.
The United States holds the majority of market share in 2019 followed by Canada and Mexico. The growing incidence of various conditions such as chronic respiratory disorders and cardiovascular disorders is expected to drive the adoption rates of anesthesia drugs in North America. Also, the increasing surgical procedures has driven the demand for anesthesia, thereby contributing to the growth in the market. For instance, according to CDC data around 48.3 million ambulatory surgery procedures are performed in 2017.
The major surgeries includes operations on the digestive system (10 million or 21%), operations on the eye (7.9 million or 16%), operations on the musculoskeletal system (7.1 million or 15%), operations on the integumentary system (4.3 million or 9%), and operations on the nervous system (4.2 million or 9%). In addition, the growing safety issues with the use of inhalational anesthetics has driven the users to increasingly adopt intravenous anesthesia drugs, particularly in the US and Canada. Nevertheless, the increasing demand for ambulatory surgeries will drive the need for regional and local anesthetics, thereby boosting the market growth for intravenous anesthetics in the coming years.
Fresenius Kabi, AbbVie, and Baxter are some of the leading players in the market. These vendors are increasingly focusing on fostering their business activities to gain competitive advantage in the market. For instance, in August 2016, Fresenius Kabi planned a $250 million expansion for its Melrose Park factory, enabling it to boost production of its injectable drugs.
In addition, growing minimally invasive procedures especially spinal procedures is contributing the significant market share to the North American local anesthesia drugs market since over the last 10 or more years, minimally invasive spinal procedures have evolved, which combined with the use of local anesthesia enable surgery to be performed as an outpatient and allowing quicker reduction of pain and return to full activity.
The US is the major revenue contributor in the Americas. The implementation of the Affordable Care Act is rapidly changing the business environment of minimal invasive surgery devices in the US. The aim of the healthcare reform is to reduce the costs, increase medical access, and improve the quality of healthcare. Manufacturers are focusing on developing innovative minimally invasive technologies to provide early diagnosis of diseases and effective treatment strategies.
However, there is pressure on manufacturers to deliver technologies at an affordable rate and demonstrate the clinical effectiveness. Thus, vendors need to invest in innovative, cost-effective products without compromising on the quality.
Similarly, manufacturers are establishing direct sales channels for end-users such as hospitals and surgical centers. In addition, manufacturers are providing value-added customer services to increase their customer base.
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