US Anesthesia Drugs and Devices Market to Reach $8.88 Billion by 2027

DUBLIN, Nov. 18, 2022 /PRNewswire/ -- The "The US Anesthesia Drugs and Devices Market: Analysis By segment, By Type, By Drug product, By Device Product, Size And Trends With Impact of COVID-19 and Forecast up to 2027" report has been added to  ResearchAndMarkets.com's offering.

The US anesthesia drugs and devices market in 2021 was valued at US$5.99 billion. The market value is predicted to reach US$8.88 billion by 2027. Anesthesia is the use of medicines to prevent pain during surgery and other procedures. They may be given by injection, inhalation, topical lotion, spray, eye drops, or skin patch. Anesthesia can cause one to have a loss of feeling or awareness.

The market is expected to grow at a CAGR of 6.80% during the forecast period of 2022-2027. Due to increasing number of surgeries, aging population with increasing chronic conditions, and advancements in anesthesia technologies, the market for anesthesia drugs and devices would grow in the years to come.

Market Segmentation Analysis:

By Segment: The report provides the bifurcation of the market into two categories based on the segment: anesthesia drugs and anesthesia devices. In 2021, anesthesia drugs segment held a major share of more than 55% in the market. On the other hand, the anesthesia devices segment is expected to grow at a significant CAGR in the forthcoming years owing to the rising healthcare expenditure in the region.

By Type: On the basis of type, the US anesthesia drugs market is divided into three types namely general, local and other anesthesia. In 2021, general anesthesia drug segment held a major share of more than 39% in the market. This was being followed by local anesthesia drugs. R&D activities in the pharmaceutical industry to formulate novel anesthesia drug is expected to provide remunerative opportunities for expansion of the US other anesthesia drugs market during forecast period.

By Device Product: The report provides the bifurcation of the market into three segments based on the device product: advanced, basic and integrated. In 2021, advanced segment held a major share of 62% in the market. This was being followed by integrated anesthesia device. The constant development in the field of the anesthesia monitoring devices and high demand for the better monitoring devices are also anticipated to push the growth in the US advanced anesthesia monitoring devices market.

By Drug Product: The report provides the bifurcation of the market into seven segments based on the drug product: Bupivacaine, Ropivacaine, Lidocaine, Chloroprocaine, Prilocaine, Benzocaine and Other Local Anesthetics. In 2021, Lidocaine anesthesia drug segment held a major share of 32% in the market. This was being followed by Bupivacaine, Ropivacaine. The market is anticipated to propel during forecasted years owing to the expanding patient population and the rise in medical and surgical procedures.

Market Dynamics:

Growth Drivers: One of the most important factors impacting the US anesthesia drugs and devices market is rising geriatric population. Steady growth in aging population raised the incidence of the chronic condition over the past decade. This had caused increasing number of surgical procedures of elderly patients. Additionally, benefits such as advances in surgery and anesthesia can improve function and quality of life for older patients also supported market growth. Thus, the positive acceleration in aging population consequently supported the growth of the anesthesia drugs and devices market in the US. Furthermore, the market has been growing over the past few years, due to factors such as growing healthcare expenditure, increase in monitored anesthesia use, increase in number of approval for anesthesia drugs and many other factors.

Challenges: However, the market has been confronted with some challenges specifically, lack of skilled anesthesiologist, etc.
- Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as the escalating establishment of ambulatory surgical centers (ASC), technological enhancement of anesthesia devices, etc. Technology upgradation such as Closed loop TIVA and Ultrasound-Guided Regional Anesthesia (UGRA) are expected to propel the US drug and devices market during forecasted years.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Market Analysis

4. Impact of COVID-19

5. Market Dynamics

6. Competitive Landscape

7. Company Profiles

Companies Mentioned

• KKR & Co. Inc. (Envision Healthcare Corporation)
• Baxter International Inc.
• Blackstone (TeamHealth)
• Becton, Dickinson and Company
• Braun (B. Braun Avitum AG)
• 3M Company
• Abbvie Inc.
• Teleflex Incorporated
• Dragerwerk AG & Co. KGaA
• AstraZeneca Plc
• Abbott Laboratories
• General Electric Company
• ICU Medical, Inc
• SunMed LLC

For more information about this report visit https://www.researchandmarkets.com/r/gwgy1l

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SOURCE Research and Markets