Local Anesthesia (LA) Market Overview:
- Drug that causes reversible local anesthesia and a loss of nociception is known as local anesthetic and when it is used on specific nerve pathways (nerve block), effects such as analgesia (loss of pain sensation) and paralysis (loss of muscle power) can be achieved.
- Local Anesthesia (LA) is classified based on the type of drugs as; bupivacaine, lidocaine, benzocaine, ropivacaine, prilocaine, chloroprocaine, and other local anaesthetics.
- The market is further bifurcated into injectable and surface anesthetic, based on application.
- As per the research report of AGR, it is estimated that global local anesthetic drugs market size is valued at ~USD 5.5-6 billion in 2019 and is expected to grow at a CAGR of ~4-5% over the forecast period (2019-2025).
- Requirement of post-operative pain management in ~65.0% of the total surgical procedures, likely to boost the demand for local anesthesia drugs.
- Owing to extensive use as topical and injectable anesthetic, Bupivacaine and Lidocaine dominated the market by product as of 2019.
- Increasing healthcare expenditure in developing countries is expected to result in an increase in the number of surgeries performed in countries such as India, China, and Brazil are likely to contribute to market growth in the region.
Local Anesthesia (LA) Market Outlook:
- Global local anesthesia drugs market size likely to reach ~USD 7-8 billion by 2025
- Key factors driving the market for local anesthetics are; Increase in number of surgical procedures performed across the globe, including dental procedures, cosmetic surgeries, and plastic surgeries.
- North America region is anticipated to hold the major share in the global market due to the rise in the number of surgeries performed in the USandcases of chronic illnesses.
- Besides, owing to upgradation in surgical procedures and rising usage of local anesthetics after operative pain management, Europe also is estimated to emerge as another important region contributing in market growth of the local anesthesia drugs in the coming years.
- The anesthetics market in Asia-Pacific is forecasted to register the highest CAGR during 2019-2025.
Local Anesthesia Market Growth Drivers and Trends:
Major factors driving the global anesthetics market are;
- Increase in the number of surgeries, including cosmetic surgeries, dental procedures, and plastic surgeries.
- Improvement in drug delivery like computer based local anesthetic delivery and vibrotactile devices.
- Launch of new and effective drugs such as articaine, levobupivacaine, and ropivacaine.
- Increasing aging population with increasing chronic conditions.
- Advancements in anesthesia technologies.
As per the research report of AGR, it is estimated that there has been a~ 27% increase in the number of admissions for surgical procedures between 2015-2019.
- Hernia repairs, Hip replacement, Knee replacement, Gall bladder removal, and Tonsillectomies are the most common surgical procedures. Due to its efficacy in numbing certain organBupivacaine is widely used as local anesthesia, in these surgeries.
- Increasing number of surgeries leads to high demand for local anesthesia drugs and shall propel the growth of the market.
To know more about the report, please connect with AGR at https://www.avalonglobalresearch.com/contact-us
Challenges disrupting the market:
Though the global local anesthesia market has numerous growth drivers, there are certain major constraints hindering the market growth.
- Several factors that are delaying the market growth are; stringent regulations by the government, an increase in the side-effects of anesthesia drugs, lack of skilled anesthetists to administer the drugs & rise in competition among key players
- Another major challenge in the market is the higher R&D cost involved in introduced new drugs
However, some of the factors are expected to boost the growth of the market despite challenges;
- Increasing number of surgeries (including dental procedures, cosmetic surgeries, and plastic surgeries)
- Development of new sedative & anesthetic drugs,
- Reduction in the cost of newly invented drugs and
- Decrease in the recovery time after surgery.
Local Anesthesia Market Players Perspective:
Some of the key players operating in the local anesthetics market profiled in this Avalon Global Research report are Advanced Pharma Inc, Akorn Inc. Aspen Pharmacare, Baxter International Inc ,Fresenius kabi, Glenmark Pharmaceuticals, Pfizer Inc., Mylan N.V. , Novartis AG., LLC, Pacira Pharmaceuticals Inc., Sagent Pharmaceutical , Septodont , Teva Pharmaceutical Industries Ltd., etc .
Local Anesthesia Drugs market is highly competitive and many of the global players are in the market. Companies are concentrating on major collaborations, mergers, and acquisitions in order to increase their market share. Large players are also focusing on R&D to improve product quality and minimize manufacturing costs, developing novel products to improve patient compliance and safety.
To do so, they are joining with each other in various ways, like acquisition, mergers, and tie-ups.
- In 2017Sandoz Inc. produced Akovaz (Ephedrine Sulfate) injection for the treatment of clinically important hypotension and got approval of FDA.
- In 2018, Hansamed Inc developed Septocaine a local, infiltrative or conductive anesthesia, which is used in dental procedures and got FDA approval.
Local Anesthesia Market Research Scope:
- The base year of the study is 2019, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, considering the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the local anesthesia market.
- The assessment includes the forecast, an overview of the competitive structure, market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been evaluated to gauge their impact over the forecast period.
- The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include opportunity areas for local anesthesiamarket.