Local Anesthesia Drugs Market To Witness Rapid Growth Due To Growing Demand For Surgical Procedures By 2025: Grand View Research, Inc.

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According to a report published by Grand View Research, Inc.; the global local anesthesia drugs market is expected to reach a valuation of around USD 6.45 billion by 2025. Growing demand for surgical procedures such as plastic surgeries, cosmetic surgeries, and dental procedures can propel the market during the forecast period.

According to a report published by Grand View Research, Inc.; local anesthesia drugs market is expected to reach a valuation of around USD 6.45 billion by 2025.

Additionally, growing demand for surgical procedures such as plastic surgeries, cosmetic surgeries, and dental procedures can propel the market during the forecast period (2014 to 2025). Increasing number of surgical procedures due to growing geriatric population and high prevalence of chronic diseases like cardiovascular disorders, respiratory disorders, cancer, neurological disorders, gastro, spinal problems, and orthopedic complaints can propel the market during the forecast period.

High demand for post-operative pain relief options is considered as the major driving factor for the market. Approximately 65.0% of the overall surgeries required a post-operative pain management. Novel developments in drug delivery technologies and launch of new drugs such as articaine, ropivacaine, and levobupivacaine are also likely to increase the product demand in the coming years. For instance, DepoFoam technology practices new method for delivering bupivacaine drug and is efficient in post-operative pain management.

Full Research Report On Local Anesthesia Drugs Market Analysis : 

U.S. local anesthesia drugs market, by product, 2014 - 2025 (USD Billion)

For instance, B. Braun Medical Inc. has recently introduced its FDA-approved local anesthetic called Clorotekal (chloroprocaine hydrochloride) for spinal anesthesia. It is indicated for intrathecal injection in adults to produce subarachroid block (spinal anesthesia). Indicated procedures include those suitable for its short duration of action. It will be available in 50mg/5ml glass ampules.

Worldwide local anesthesia market can be segmented on the basis of product, application, and region.

Based on product, the market can be segmented into bupivacaine, ropivacaine, lidocaine, chloroprocaine, prilocaine, benzocaine, and other local anesthetics. In 2016, The lidocaine segment ruled the market due to its widespread use as a topical and injectable anesthetic. However, introduction of new drugs such as articaine and bupivacaine are expected to challenge the market growth during the study period. The bupivacaine segment is likely to grow swiftly through 2025 on account of various clinical trials conducted earlier. Its widespread use in post-operative pain management is expected to boost the segment. Segments such as articaine and ropivacaine are also anticipated to show substantial growth over the forecast period.

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Global local anesthesia drugs market revenue, by region, 2016 (%)

The injectable segment is likely to dominate the market over the forecast period due to high adoption in different surgical procedures. Surface anesthetic segment is expected to display momentous growth over the forecast period due to improvements in drug delivery systems.

Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and MEA.

In 2016, North America captured major market share on account of high number of surgical procedures performed, especially in the U.S. The country reported for over 25.0% of surgical procedures performed across the world. Factors such as increasing geriatric population, high disposable income, increase in prevalence of chronic diseases, and improved access to healthcare are boosting the market growth in this region.

Europe was the second largest market in 2016. This region is likely to exhibit significant growth in the coming years. This growth can be associated with rise in number of dental and cosmetic surgeries, high adoption of local anesthetics in post-operative pain management, improvements in surgical procedures.

Latin America and Asia Pacific are anticipated to lucrative growth during the forecast period. Increasing geriatric population is likely to increase the number of surgical procedures in these regions. Decline in opioid use in the region is also projected to boost the market in the coming years. Additionally, growing budget for healthcare sector in countries is anticipated to increase number of surgeries in countries including China, Brazil, and India. This is expected to support the market growth in the coming years.

Some of the leading companies operating in the market include Novartis, Inc.; Pacira Pharmaceutical; Teva Pharmaceuticals; Sagent Pharmaceutical; and Aspen Pharmacare. The market is extremely competitive due to presence of various local and regional companies. The participants are expected to make high investments to conduct research and development (R&D) activities in order to develop effective drugs and drug delivery techniques.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: https://www.grandviewresearch.com/

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