New York, April 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Local Anesthesia Drugs Global Market Report 2023" - https://www.reportlinker.com/p06451013/?utm_source=GNW
Major players in the local anesthesia drugs market are Hikma Pharmaceuticals PLC, Fresenius SE & Co.KGaA, Glenmark Pharmaceutical Limited, B.
Braun Melsulgen AG, Pacira BioSciences Inc., Pfizer Inc., Septodont, Teva Pharmaceutical Industries Limited, Aspen Pharmacare Holdings Limited, Novartis Inc., Sagent Pharmaceutical, Mylan N.V, Advanced Pharma Inc., Akorn Operating Company LLC, and Endo International plc.
The global local anesthesia drugs market is expected to grow from $4.05 billion in 2022 to $4.30 billion in 2023 at a compound annual growth rate (CAGR) of 6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The local anesthesia drugs market is expected to grow to $5.23 billion in 2027 at a compound annual growth rate (CAGR) of 5%.
The local anesthesia drugs market consists of sales of propofol, etomidate, ketamine, and other types.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Local anaesthesia drugs are a type of pain control used during minor procedures to numb a small area where the pain is likely to occur. These drugs used as local anaesthetics suppress pain receptors known as nociceptors, blocking them from sending pain impulses to the brain.
North America was the largest region in the local anesthesia drugs market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the local anesthesia drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of local anesthesia drugs are bupivacaine, lidocaine, benzocaine, ropivacaine, prilocaine, chloroprocaine, and other types.Bupivacaine is a local anesthetic C18H28N2O that is like lidocaine in its action but is longer acting.
The modes of administration are injectable and surface anesthetic and are distributed through hospital pharmacies, pharmacy stores, and other channels.
The increasing number of surgeries is expected to propel the local anaesthesia drugs market forward.A medical speciality known as surgery deals with the physical and mechanical treatment of wounds, illnesses, and other ailments.
Surgeries are increasing in the world due to accidents and chronic ailments such as cardiovascular diseases, cancers, and orthopaedic disorders, as a result, the increasing number of surgeries increases the demand for local anaesthesia drugs because those drugs are commonly used in surgeries. For instance, according to the National Library of Medicine, a US-based organization for biotechnology information, the number of cardiovascular surgeries is predicted to increase consistently to reach a demand of 15,501 cases in 2040 with an increase of 46.5 %. This growth rate is substantially higher than 2019 (4.3 %). Therefore, the increasing number of surgeries drives the local anaesthesia drugs market.
Product innovation is a key trend in the local anaesthesia drugs market.Major companies operating in the local anaesthesia drugs market focus on developing new product solutions to strengthen their position.
For instance, in December 2021, Hikma Pharmaceuticals PLC, a UK-based company operating in local anaesthesia drugs, introduced the Bupivacaine HCl Injection in 10mL and 30mL doses with improvements like 0.25%, 0.5%, and 0.75%. Bupivacaine HCl Injection is recommended for adults to produce local or regional anaesthesia or analgesia for surgical, dental, and oral surgery operations, as well as diagnostic and treatments and obstetrical procedures.
In July 2021, Septodont, India-based pharmaceutical dentistry, acquired Utlracain for an undisclosed amount.Through this acquisition, Septodont’s existing dental portfolio will allow them to strengthen the value proposition they bring to the customers through a broader range of products and solutions.
Ultracain is a France-based company operating in local anaesthesia drugs.
The countries covered in the local anesthesia drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The local anesthesia drugs market research report is one of a series of new reports that provides local anesthesia drugs market statistics, including local anesthesia drugs industry global market size, regional shares, competitors with a local anesthesia drugs market share, detailed local anesthesia drugs market segments, market trends and opportunities, and any further data you may need to thrive in the local anesthesia drugs industry. This local anesthesia drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06451013/?utm_source=GNW
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