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General Anesthesia Drugs Market Predicted to Reach $7.7 Billion by 2031, Claims Allied Market Research

Allied Market Research
Allied Market Research

Rise in prevalence of chronic disease such as cancer, cardiovascular disease, and osteoarthritis and surge in funding from private & government organizations for development of pharmaceuticals drive the growth of the global general anesthesia drugs market. North America accounted for the highest share in 2021, and is projected to continue its dominant share by 2031. During the Covid-19 pandemic, drug development activities were halted due to lockdown restrictions.

Portland, OR, June 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global general anesthesia drugs market generated $5.4 billion in 2021, and is expected to reach $7.7 billion by 2031, witnessing a CAGR of 3.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Rise in prevalence of chronic disease such as cancer, cardiovascular disease, and osteoarthritis, increase in demand for inhalation anesthesia, and surge in funding from private & government organizations for development of pharmaceuticals drive the growth of the global general anesthesia drugs market. However, side effects such as nausea, vomiting, and allergy associated with general surgeries restrict the market growth. On the other hand, rise in R&D activities for formulation of general anesthesia drug and increase in number of drug approvals present new opportunities in the coming years.

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Impact of COVID-19 on General Anesthesia Drugs Market-

  • According to the British Journal of Surgery in May 2020, nearly 28.4 million elected surgeries were projected to be canceled in 2020 due to Covid-19 pandemic. So, the demand for general anesthesia drugs declined due to cancellation or postponement of elective surgeries and treatments.

  • Drug development activities were halted due to lockdown restrictions and delay in investments in new research activities.

Get detailed COVID-19 impact analysis on the General Anesthesia Drugs Market- https://www.alliedmarketresearch.com/request-for-customization/5627?reqfor=covid

The report offers detailed segmentation of the global general anesthesia drugs market based on type of drug, route of administration, surgery type, end user, and region.

Based on route of administration, the inhalation segment accounted for the highest share in 2021, contributing to more than half of the total market share, and is estimated to continue its lead position during the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 3.7% from 2022 to 2031. The report also analyzes the intravenous segment.

Based on end user, the hospital segment held the largest share in 2021, accounting for around three-fourths of the global general anesthesia drugs market, and is estimated to maintain its leadership status during the forecast period. However, the ambulatory surgical centers segment is expected to register the largest CAGR of 3.9% during the forecast period.

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Based on region, North America accounted for the highest share in 2021, contributing to nearly one-third of the total market share, and is projected to continue its dominant share by 2031. However, Asia-Pacific is projected to portray the fastest CAGR of 4.2% during the forecast period.

Leading players of the global general anesthesia drugs market analyzed in the research include AbbVie, Avet Pharmaceuticals Inc., AstraZeneca, B. Braun Melsungen, Fresenius SE & Co. KGaA, Baxter International Inc., PAION AG, Hikma Pharmaceuticals PLC, Par Pharmaceutical, and Pfizer.

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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