CHICAGO, Feb. 4, 2021 /PRNewswire/ -- According to the new market research report "US General Anesthesia Drugs Market by Route of Administration (Intravenous and Inhalational), End User (Hospitals, Ambulatory Surgery Centers) - Forecast to 2025", published by MarketsandMarkets™, the US general anesthesia drugs market size is projected to reach USD 2.4 billion by 2025 from USD 2.0 billion in 2020, at a CAGR of 3.4% during the forecast period.
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The rising prevalence of cancer, rapid growth in geriatric population, and increasing number of emergency surgeries are some of the major factors driving the growth of the US general anesthesia drugs.
Intravenous anesthesia drugs accounted for the largest share in the market in 2019.
Based on the route of administration, US general anesthesia drugs market is categorized into inhalational anesthesia drugs and intravenous anesthesia drugs. The inhalational anesthesia drugs is further categorized into sevoflurane, desflurane, isoflurane and nitrous oxide. Similarly, intravenous anesthesia drugs are further categorized into propofol, benzodiazepines, ketamine, methohexital sodium and others intravenous general anesthesia drugs. The intravenous segment accounted for the largest share of the market. General intravenous anesthesia drugs are less expensive and do not require expensive machines for administration which contributes to the high market share of the segment.
Hospitals accounted for the largest share in the market in 2019
Based on end user, the US general anesthesia drugs market has been segmented into hospitals and ambulatory surgery centers. The hospitals segment accounted for the largest share of the market in 2019. The massive patient footfall in hospitals and the increasing number of surgeries performed in these facilities are the factors responsible for the largest share of the segment.
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The US general anesthesia drugs market is dominated by a few established players such as Baxter International Inc. (US), Hikma Pharmaceuticals plc (UK), Pfizer Inc. (US), Piramal Enterprises Limited (India), AbbVie (US), Fresenius SE & Co. KGaA (Germany), Par Pharmaceutical (US), Teva Pharmaceuticals (Israel), Viatris/Mylan (US), Novartis AG (US), Abbott Laboratories (US), AstraZeneca plc (US), F. Hoffmann-La Roche (Switzerland), GlaxoSmithKline plc (UK), Gilead Sciences, Inc. (US), Bayer AG (Germany), Merck & Co., Inc. (Germany), Sanofi (France), Heritage Pharmaceuticals Inc. (US), Akorn (US), and Apotex (Canada) among others.
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