The report" Anesthesia Drugs" Market by Type (General Anesthesia Drugs, and Local Anesthesia Drugs), By Application (General Surgeries, Plastic Surgery, Cosmetic Surgeries, Dental Surgeries, and Other Surgeries), By Route of Administration (Inhalation, Intravenous, and Others), - Global Forecast to 2030. "The Global Anesthesia Drugs Market share was USD 6.8 billion in 2020. It is predicted to reach USD 8.93 billion by 2030, representing a CAGR of 3.47% throughout the forecasted period of 2020-2028. Some of the key drivers of the market worldwide are the continuous rise of the old age population, rapid advances in technology in the delivery of drugs, the development of specifically targeted medicines, an increase in the number of surgeries, etc.
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By Type, the 'General Anesthesia' segment held the highest amount of share in 2020
Based on Type, the Anesthesia Drugs industry worldwide has been broadly bifurcated into General Anesthesia Drugs and Local Anesthesia Drugs. The "General Anesthesia" segment comprehensively showed its domination in 2020 owing to the rising prevalence of major surgeries across the world as it helped the physicians to create some of the most efficient, individualized anesthetic plans that adequately balance the patient's history with the anticipated surgical plan that ensures maximum safety of the patients.
Local Anesthesia Drugs showed the fastest CAGR rate as it's considered safer compared to general Anesthesia because there are no systemic side effects.
By Application, the 'General Surgeries' segment held the largest share of the market in 2020
Based on Application, the Global Anesthesia Drugs industry has been fragmented into General Surgeries, Plastic Surgery, Cosmetic Surgeries, Dental Surgeries, and Other Surgeries. The "General Surgeries" segment comprehensively dominated the market in 2020 because of the rise in the geriatric population along with an increasing number of chronic diseases, the growing number of surgeries, & several technological advancements in Anesthesia. As per the American Society of Plastic Surgeons, in 2019, about 1.8 Mn cosmetic surgeries were conducted in 2019, and around 16.3 Mn cosmetic MI procedures were performed. According to the Department of Economic and Social Affairs of the United Nations, by 2050, 1 out of 4 people living in the European Union & Northern America could be aged 65 years or older.
By Route of Administration, the Intravenous segment held the highest share percentage in the market in 2020
Based on Route of Administration, the Global Anesthesia Drugs industry has been broadly segregated into Inhalation, Intravenous, and Others. The 'Intravenous' segment held the maximum share as it offers a lot of advantages such as more accurate dosage delivery, lower rates of postoperative nausea, vomiting, urinary retention, and malignant hyperthermia, and a better level of patient safety.
North America significantly held the largest share of the market in 2020 due to the continuous rise in diseases such as cancer, cardiovascular diseases, etc.
The APAC (Asia-Pacific) region significantly held the fastest growth rate due to the presence of major players and its rapidly expanding healthcare infrastructure.
Some of the key vendors prevailing in the Global Anesthesia Drugs Market include AbbVie Inc., Aspen Pharmacare Holdings Limited, Abbott Laboratories, B. Braun Melsungen AG, Baxter International Inc., AstraZeneca PLC, Braun Melsungen AG, Boehringer Ingelheim International GmbH, etc.
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