The North American anesthesia drugs market is expected to register a CAGR of nearly 3.5% during the forecast period.
According to the United States Census Bureau’s Statistics, as of 2017, the total number of people aged 65 years and older had exceeded 50 million, and between 2020 and 2030, the number of elderly people is projected to increase by almost 18 million. Although much smaller in total size, the number of people aged 85 years and older is expected to be more than triple from an estimated 6 million in the present scenario, to nearly 20 million by 2060. Elderly patients are likely to be having higher perioperative morbidity and mortality. The older population tends to have more critical diseases, which puts them at an increased risk for perioperative morbidity. The geriatric population is also at a higher risk of organ function failures, as there are changes in the pharmacokinetics and pharmacodynamics related to age and organ function. As the proportion of older patients increases, there will be an increased patient risk with cardiac and pulmonary diseases, alterations in kidney and liver function, and respiratory and urinary tract complications. The overall increase in the number of surgeries performed will have a strong impact on the anesthetics market, thus boosting the growth of the market in this region.
Key Market Trends Propofol sub-segment by General Anesthesia Drugs, is Expected to Show the Healthy Growth
Propofol is a drug that has been used for a long time for various surgical procedures requiring anesthesia. With the increase in the number of surgeries and the increasing geriatric population in the region, the segment growth also increases. Some of the companies which manufacture propofol injections are Neon Laboratories Limited, Bharat Serums and Vaccines Limited, and Fresenius Kabi, having a good global presence and well-established distribution channel for the drugs in this segment. The drug is always in demand in the market for utilization in different types of surgeries, and is expected to witness rapid growth in the coming years.
Competitive Landscape The North American anesthesia drugs market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with rising drug approvals, mid-size to smaller companies are increasing their market presence by introducing new ingredients with fewer prices. Companies, like Baxter International, Fresenius SE & Co. KGaA, Eisai Co. Ltd, Roche Holding AG, and B. Braun Melsungen AG, hold substantial market shares in the anesthesia drugs market.
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