Several reports are forecasting continued growth for global anesthesia markets.
Mordor Intelligence predicts growth in the global anesthesia drug market.
“The global anesthesia drugs market has been estimated at $11.54 billion in 2016 and is projected to reach $14.11 billion by 2021, at a CAGR of 3.4 percent during the forecast period from 2016 to 2021,” according to Mordor Intelligence.
Mordor Intelligence includes a bump in the number of surgeries as one reason for its positive market outlook.
“Increasing number of surgeries, development of new sedative and anesthetic drugs, reduction in the cost of newly invented drugs and decrease in the recovery time after surgery are some of the reasons driving the growth of the market,” according to Mordor Intelligence.
However, it is not all good news for the anesthesia market.
“Risk of side effects of anesthesia drugs, lack of skilled anesthetists to administer the drugs and risk of adverse reactions of anesthesia drugs are some of the major constraints hindering the market growth,” Mordor Intelligence adds.
Mordor Intelligence also forecasts that the global anesthesia devices market will reach $13.50 billion by 2021, at a CAGR of 11.64 percent during the forecast period from 2016 to 2021.
“This market has witnessed an excellent growth in the recent times. This growth is expected to increase accordingly in the near future as well,” Mordor Intelligence reports.
“Continuous growth in this market can be attributed to the rapid adoption of anesthesia information management systems (AIMS), which have been implemented in an effort to move the industry away from the paper-based record keeping systems to more efficient electronic solutions,” the report adds. “The establishment of several government-supported national statistical databases is driving this market as well. The demand is also rapidly increasing with the growing safety awareness and technology enhancements in anesthesia machines.”
A PRNewswire report expects even more growth, especially in the United States market.
“United States anesthesia market is expected to be more than $4 billion by 2022. This growth is driven by increasing incidence of cardiovascular cases, growing old age population and rising number of urgent surgeries in United States,” according to the report. “Private as well as public health insurers also help to boost this market as they consider anesthetic products in their reimbursement policy.”
General anesthesia is expected to add to the overall anesthesia drug market.
“The U.S. general anesthesia drugs market is poised to reach $2.0 billion by 2020 from $ 1.6 billion in 2015, at a CAGR of 3.8 percent from 2015 to 2020,” MarketsandMarkets reports. “Factors such as rapid rise in aging population, rising prevalence of cardiovascular and respiratory system-related diseases, and rising number of emergency surgeries are driving the growth of the U.S. general anesthesia drugs market. However, side effects associated with ketamine usage (such as elevation in blood pressure and heart rate, amnesia, respiratory depression, and hallucinations), regulatory issues, and lower compliance rates in comparison with other anesthetic drugs are likely to restrain the growth of this market.”