India Intravenous Anesthetic MarketSize and Trends

The India intravenous anesthetic market is estimated to be valued at US$ 72.79 million in 2023 and is expected to exhibit a CAGR of 3.2% during the forecast period (2023-2030).

Figure 1. India Intravenous Anesthetic Market Value (US$ Mn) & Y-o-Y Growth (%), 2018-2030

India Intravenous Anesthetic Market – Driver

Change in lifestyle, rising number of chronic diseases and increase in geriatric population

Changing in the lifestyle which increases the obesity among the healthy volunteers along with the increase number of chronic diseases resulted into increase number of surgeries, which is expected to drive the India intravenous anesthetic market. For instance, in September 2022, AIIMS Delhi discusses the increase in knee replacement surgeries in India over the past five years, which is due to factors such as increased longevity and availability of expertise and infrastructure. More than 2. 5 lakh people undergo total knee replacement surgery in India every year which is almost 2.5 times the number of such procedures conducted annually.

India Intravenous Anesthetic Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the intravenous anesthetics market. The pandemic had stressed up the healthcare systems in the world and cause decline in the general anesthesia due to cancelled or postponed elected surgeries. For instance, on February 12 2023, according to an article published, patients infected with COVID-19 may be at increased risk of perioperative complications, and anesthesiologists must carefully evaluate patients prior to surgery to minimize these risks.

India Intravenous Anesthetic Market Segmentation:

The India intravenous anesthetic market report is segmented into by Type, and by End User

By Type, the market is segmented into Barbiturates, Ketamine, Benzodiazepines, Propofol and Others. Out of which, propofol segment is expected to hold a dominant position in the intravenous anesthetics market during the forecast period. For instance, in August 2022, according to the article published in Computational and Mathematical Methods in Medicine, reveals the effect of propofol intravenous anesthesia combined with press-needle therapy on analgesic effect during painless abortion. Propofol, an intravenous anesthetic is used for general anesthesia induction, monitored anesthesia management, and procedural sedation. It may be given as an infusion, a bolus, or a mix of the two. It can also be administered as part of an anesthesia maintenance technique called total intravenous anesthesia.

By End User, the market is segmented into Hospitals, Clinics and Others. Out of which, the hospital segment is expected to hold a dominant position in the intravenous anesthetics market during the forecast period and this is attributed to the increasing hospitals along with the increase in number of surgeries. For instance, according to article published in September 2020, the article estimated a total of 4642 surgeries were performed per year for a population of 88,273. Cataract (22.8%), Caesareans (3.8%), surgeries for fractures (3.27%) and hernia (2.86%) were the commonest surgeries. 44.2% of surgeries belonged to the essential surgeries.

Among all the segmentations, the type segment has the highest potential due to the increasing prevalence of surgeries with the chronic diseases over the forecast period. For instance, in October 2022, a phase IV clinical trial is carried out at Sir Ganga Ram Hospital in India to assess if total body weight should be used to determine the propofol dosage for obese patients getting total intravenous anesthesia. Propofol is an intravenous anesthetics used for general anesthesia induction, monitored anesthesia management, and procedural sedation.

India Intravenous Anesthetic Market: Key Developments

In January 2022, All India Institutes of Medical Sciences (AIIMS), New Delhi had implemented new digital surgery technology from ImmersiveTouch, a medical technology company building the digital surgery metaverse. Its Mission Rehearsal VR platform gives surgeons the ability to virtually plan and simulate each patient's unique anatomy in 3D, prior to entering the operating room.

On February 8 2023, ICU Medical Inc., a manufacturer and seller of innovative medical devices, announced its Plum 360 smart infusion system is the first to be recognized as the top-performing smart pump in both the EMR-Integrated and Traditional categories by KLAS Research, a global health care research firm. Plum 360 smart infusion system is the only smart infusion system to win the Smart Pump EMR-Integrated category.

In April 2022, Avet Pharmaceuticals Inc., a generic pharmaceutical company, announced the launch of its propofol injectable emulsion, USP 10 mg/mL, in 20, 50 and 100 ml Single Patient-Use Vials, an AB rated generic equivalent of DIPRIVAN (propofol) Injectable Emulsion USP, following its abbreviated new drug application approval from the U.S. Food and Drug Administration (FDA).

In July 2022, Datwyler, a manufacturer of elastomer components for pharmaceutical packaging, is expanding its portfolio with two new products to meet evolving patient demands. The new offerings include a 5/8 inch rigid needle shield (RNS) to address the rising need for prefilled syringes to contain vaccines for intramuscular injection, and isoprene rubber discs for infusion therapies.

India Intravenous Anesthetic Market: Key Trends

Better healthcare infrastructure, effective government policies can drive the growth of market

Due to improved healthcare infrastructure, effective government policies, a sizable base of multinational corporations, and an increase in genetic illnesses, the intravenous anesthetics market is expected to grow over the forecast period.

In September 2021, AIIMS New Delhi and India Medtronic Private Limited, a wholly owned subsidiary of Medtronic plc, announced the opening of a state-of-the-art surgical robotics training center at AIIMS, New Delhi. The center will provide surgeons with best-in-class training in robotic-assisted surgery. It is the first such center at AIIMS utilizing Medtronic’s HugoTM robotic-assisted surgery (RAS) system, which was first introduced in India.