Local Anaesthetic Drugs Market to Witness a CAGR of 3.8% during 2021 to 2027 Globally- AXIOM MRC
Research Reports
Jul 09, 2021
The factors such as rising number of surgical procedures, approval of new anaesthetic drugs, rising healthcare expenditure in developing countries, improvement in drug delivery systems, patient safety expectations and surgical complexities are likely to contribute to healthy growth of the market.
New York, July, 2021: Axiom Market Research & Consulting™ added a report on global local anaesthetic drugs market which includes study on drug molecules, route of administration and distribution channel across various countries of key regions across the globe. The global local anaesthetic drugs market was projected to grow at a CAGR of 3.8% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the local anaesthetic drug market.
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The report analyses the global local anaesthetic drugs industry based on drug molecules, route of administration, distribution channel and geography. Various drug molecules covered in global local anaesthetic drugs are bupivacaine, lidocaine, benzocaine, ropivacaine, prilocaine, chloroprocaine and other local anaesthetic drugs. By route of administration, the market is segmented into intravenous local anaesthesia, topical local anaesthesia and ophthalmic local anaesthesia. Based on distribution channel, the market is segmented into online pharmacies, retail pharmacies and hospital pharmacies. The global local anaesthetic drugs market is studied across various key regions such as, North America, Europe, Asia Pacific and Rest of the World.
The key competitors of this market include Advanced Pharma Inc., Akorn Inc., Aspen Pharmacare, Baxter International Inc., Fresenius Kabi, Glenmark Pharmaceuticals Inc., Mylan, Novartis Ag, Pacira Pharmaceutical, Pfizer Inc., Sagent Pharmaceutical and Teva Pharmaceutical Industries Ltd. among the others.
Local Anaesthetic Drugs Market Regional Trends
North America is expected to witness the fastest growth in upcoming years owing to hold significant share in terms of value. The US and Canada are expected to dominate the market in the upcoming years, The key factors that attributed market growth are well-developed healthcare infrastructure owing to adoption of technologically advanced surgical equipment, rising incidences of surgical procedures, rising collaborations and new product launch.
Local Anaesthetic Drugs Market Segmental Highlights
- The lidocaine segment is expected to dominate the local anaesthetic drugs market during the forecast period 2021 to 2027. The growth of this segment is rapidly owing to extensive applications in injectable anaesthetic. The lidocaine is also called as lignocaine which are sold under different brand names. It is amino type local anaesthetic which is also used in treatment of ventricular tachycardia.
- In 2020, intravenous accounted for the major market share. The rising uses of local anaesthesia in surgical procedures and advancement in drug delivery systems. This make them more demandable in the global market.
- Hospital pharmacies end user segment dominated the market in 2020. Major factors such as rising patient footfall of inpatient and outpatient, rising economic conditions in developing countries causing rise in healthcare expenditure are accredited to the growth of the market.
- North America dominated general anaesthetic drugs market in 2020 and is expected to witness the fastest growth in upcoming years.
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Research Objectives of Local Anaesthetic Drugs Market Report:
- Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period
- Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects
- Country-level analysis, integrating the demand and supply forces that are influencing the growth of the local anaesthetic drugs market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years
- Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players
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