Global Local Anesthesia Drugs Market Insights Forecasts to 2030
- The Global Local Anesthesia Drugs Market Size was valued at USD 2,568.64 Million in 2021.
- The Market is Growing at a CAGR of 5% from 2021 to 2030
- The Worldwide Local Anesthesia Drugs Market Size is expected to reach USD 3,984 Million by 2030
- Asia-Pacific is expected to Grow the fastest during the forecast period
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The global local anesthesia drugs market is expected to reach USD 3,984 million by 2030, at a CAGR of 5% during the forecast period 2021 to 2030. There have been more dental, cosmetic, and plastic surgeries done in hospitals and clinics around the world. This is one of the main things driving the local anaesthetics market forward. As the number of surgeries goes up, there has been a big rise in the number of people looking for pain relief after surgery. This is one of the most important trends that has been seen in the market.
An anaesthetic is a drug that is given to a patient before a test or surgery to make them temporarily lose feeling or not feel anything. There are two types of anaesthetics: general and local. Mixtures of anaesthetics are also used because of the effects they have when used together. Most of the time, anaesthesia works by stopping the brain from sending messages about what it feels and by stopping nerve impulses from travelling through the nervous system. With local anaesthesia, you can make a certain part of your body numb instead of going completely unconscious as you would with general anaesthesia. The population that is getting older is a group that is more likely to get chronic diseases like heart disease, lung disease, cancer, neurological disorders, and other stomach, back, and joint problems. This is because more surgeries are being done. It is expected that as drug delivery technology improves, there will be a greater need for local anaesthetics during surgery. For example, the DepoFoam technology uses a new way to give bupivacaine, and as a result, it is very effective at controlling pain after surgery. The development of highly effective new drugs like articaine, levobupivacaine, and ropivacaine is another thing that is helping the market for drugs used in local anaesthetics to grow. This trend is supported by the fact that healthcare costs have gone up in developing countries like India, China, and Brazil, where the number of procedures has been steadily going up.
Global Local Anesthesia Drugs Market Report Coverage
|Market Size in 2021:||USD 2,568.64 Million|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||5%|
|2030 Value Projection:||USD 3,984 Million|
|Historical Data for:||2017 - 2020|
|No. of Pages:||199|
|Tables, Charts & Figures:||110|
|Segments covered:||By Drug Type, By Mode of Administration, By Region|
|Companies Covered:||Hikma Pharmaceuticals PLC, Fresenius SE & Co. KGaA, Glenmark Pharmaceutical Ltd, Pfizer Inc, Septodont, Teva Pharmaceutical Industries Limited|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the market for global local anesthesia drugs market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global local anesthesia drugs market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global local anesthesia drugs market sub-segments.
- In 2021, the lidocaine segment dominated the market with the largest market share of 25% and market revenue of 642.16 million.
Based on drug type, the local anesthesia drugs market is categorized into Bupivacaine, Lidocaine, Benzocaine, Ropivacaine, Prilocaine, Chloroprocaine, and Other Drug Types. In 2021, the lidocaine segment dominated the market with the largest market share of 25% and market revenue of 642.16 million. Lidocaine was the most popular drug on the market in 2021 because it could be used as both a topical and an injectable anesthetic. During the forecast period, however, newer medicines like articaine and bupivacaine could threaten the market share held by this medicine.
- In 2021, the injectable segment accounted for the largest share of the market, with 60% and market revenue of 1,541 million.
Based on the mode of administration, the local anesthesia drugs market is categorized into Injectable and Surface. In 2021, injectable dominated the market with the largest market share of 60% and market revenue of 1,541 million. The main reason for this is that injectable anaesthetics are used in a lot of different types of surgery. On the other hand, it is expected that the use of surface anaesthetics will grow the fastest during the forecast period. It is expected that improvements in how medications are given will be the main thing that drives this market sector.
Regional Segment Analysis of the Local Anesthesia Drugs Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Among all regions, North America emerged as the largest market for the global Local Anesthesia Drugs Market, with a market share of around 37.1% and 2,568.64 million of market revenue in 2021.
- In 2021, North America emerged as the largest market for the global local anesthesia drugs market, with a market share of around 37.1% and 2,568.64 million of the market revenue. The main things that are causing the market share to grow are the sudden rise in the number of operations, the growing number of people over the age of 65, and the rise in the number of people with more than one chronic health condition.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2022 and 2030. The growth of the local anesthetics market is expected to be driven by things like the growing number of people with chronic diseases, the growing number of surgeries, the burden of an ageing population, and diseases that come with it. These things are likely to make it harder to get local anaesthetics for surgery and to treat pain after surgery.
The report offers the appropriate analysis of the key organizations/companies involved within the global local anesthesia drugs market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Hikma Pharmaceuticals PLC
- Fresenius SE & Co. KGaA
- Glenmark Pharmaceutical Ltd
- Pfizer Inc
- Teva Pharmaceutical Industries Limited
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In January 2022, Laboratoires Théa SAS (Thea), which is the largest independent pharmaceutical company in Europe and focuses on developing and selling eye care products, made a deal with Akorn Operating Company LLC to buy seven branded ophthalmic products.
- In March 2021, The Centre for Drug Evaluation of China's National Medical Products Administration gave Luye Pharma Group permission to test LY09606 in human. LY09606 is the first multivesicular liposome formulation of Ropivacaine that is meant to be used as a painkiller after surgery.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global local anesthesia drugs market based on the below-mentioned segments:
Global Local Anesthesia Drugs Market, By Type
- Other Drug Types
Global Local Anesthesia Drugs Market, By Mode of Administration
- Surface Anesthetic
Global Local Anesthesia Drugs Market, Regional Analysis
- North America
- THE US
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Local Anesthesia Drugs market?As per Spherical Insights, the size of the Local Anesthesia Drugs market was valued at USD2,568.64 million in 2021 to USD 3,984 million by 2030.
What is the market growth rate of the Local Anesthesia Drugs market?The Local Anesthesia Drugs market is growing at a CAGR of 5% from 2021 to 2030.
Which country dominates the Local Anesthesia Drugs market?North America emerged as the largest market for Local Anesthesia Drugs.
Who are the key players in the Local Anesthesia Drugs market?Key players in the Local Anesthesia Drugs market are Hikma Pharmaceuticals PLC, Fresenius SE & Co. KGaA, Glenmark Pharmaceutical Ltd, Pfizer Inc, Septodont, and Teva Pharmaceutical Industries Limited.
Which factor drives the growth of the Local Anesthesia Drugs market?An increase in Surgeries is expected to drive the market's growth over the forecast period.
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