By: 21 December 2015
Strong demand for propofol is fuelling the general anaesthesia market

Strong demand for propofol is fuelling the general anaesthesia market

The global general anaesthesia drugs market is projected to register a healthy growth rate of 3.8 per cent over the next 10 years according to a report from Future Market Insights (FMI).

The report, entitled ‘General anaesthesia drugs market: Global industry analysis and opportunity assessment, 2015–2025’ breaks the market down on the basis of product and region. The product market is further divided into propofol, sevoflurane, dexmedetomidine, desflurane, remifentanil, midazolam and others.

At the end of 2015, propofol accounts for one-third (29.8 per cent) of the global general anaesthesia drugs market, and is expected to see a robust compound annual growth rate (CAGR) of 5.4 per cent in terms of value between now and 2025. Sevoflurane is expected to show a growth rate of 4.6 per cent during the forecast period.

The growth of the global general anaesthesia drugs market is primarily driven by increasing incidence of surgeries related to cardiovascular diseases, accidents, craniomaxillofacial 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 the healthcare sector in developing countries due to growing investments by major players. Increasing health awareness and growing disposable income also lead to a surge in demand for general anaesthesia drugs in all major and moderate surgeries.

North America currently dominates the general anaesthesia drugs market, with a 31 per cent market share by the end of 2015, while North America and Western Europe are collectively expected to account for over 56.9 per cent of the market, in terms of value, by the end of the year.

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Source: Marketwatch