Anesthesia Drugs Market Size, Share, Growth, Trends, and Industry Analysis: By Type (General Anesthesia, Regional Anesthesia, Local Anesthesia, and Others), By Drugs (General Anesthetics, Local Anesthetics, and Others), By Route of Administration (Inhalation, Intravenous, and Others), By End Users (Hospitals and Ambulatory Surgical Centres), and Region Forecast 2019-2030

Anesthesia Drugs Market size was valued at USD 8,725.6 million in 2023 and is expected to grow at a CAGR of 3.8% from 2024 - 2030.  The anesthesia drug market is expanding due to some significant factors an increase in the prevalence of chronic diseases such as cancer, cardiovascular disease, and osteoarthritis; a rise in demand for inhalation anesthesia; an increase in funding from private & government organizations for the development of pharmaceutical manufacturing segments; and rise in R&D activities for the formulation of a general anesthesia drug. The rise in funding from public and private organizations for the development of pharmaceutical manufacturing segments; and the rise in research and development efforts for the formulation of general anesthesia drugs are the main factors driving the growth of the global market share for general anesthesia drugs.

Furthermore, the World Health Organization revealed in 2022 that the leading cause of mortality worldwide is cardiovascular disease. Individuals who suffer from atrial fibrillation, heart failure, or coronary heart disease are more likely to require open heart surgery. Under general anesthesia, open heart surgery is performed. This element fuels the market's expansion. The United States had severe shortages of essential anesthetic medications following the emergence of COVID-19, including dexmedetomidine, midazolam, propofol, and neuromuscular blocking medicines. As a result, a lot of businesses are producing more anesthetic medications.

For example, Hikma Pharmaceutical debuted "Propofol Injectable Emulsion," a new medicine, in the US market in May 2020. Emerging markets expansion, innovation in drug development, integration of advanced technologies, personalized medicine, expansion of ambulatory and outpatient surgery centers, strategic partnerships and collaborations, opioid-sparing strategies, regenerative medicine, and new techniques. Additionally, advances in technology in the delivery of Drugs, the development of specifically targeted medicines, the development of devices to monitor patient's physiological parameters during and after Anesthesia, and reduced side effects of anesthetics are the opportunities that will boost the market growth. 

Anesthesia Drugs Market Key Developments:

• In January 2022, Laboratories Théa SAS (Théa) entered an agreement to purchase seven branded ophthalmic products from Akorn Operating Company LLC. The strategic move will enable Théa to add Akorn-branded products to its portfolio, including Akten (lidocaine HCl ophthalmic gel), a local anesthetic indicated for ocular surface anesthesia during ophthalmologic procedures.
• In March 2021: Pacira BioSciences Inc.'s supplemental new drug application (sNDA) for the augmented use of Exparel (Bupivacaine Liposome Injectable Suspension) in pediatric patients was approved by the U.S. Food and Drug.