India Intravenous Anesthetic Market, by Type (Barbiturates, Ketamine, Benzodiazepines, Propofol, and Others) and by End User (Hospitals, Clinics, and Others) 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), as highlighted in a new report published by Coherent Market Insights.
The emergence of various surgeries performed by robotics as well as the increase in geriatric population are expected to provide lucrative growth opportunities for players in the safety needles market. Thus, key market players are focused on adopting growth strategies such as partnerships, acquisition, which will drive the India intravenous anesthetic market. For example, in January 29 2023, according to an article published in the journal Statspearl, estimated the increase in prevalence of laparoscopic surgeries which generally involved the use of anesthesia to performed the surgery.
India Intravenous Anesthetic Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
During the pandemic, RA (Regional Anesthesia) had favored as a modality to decrease COVID-19 spread during AGPs (aerosol-generating procedures). For instance, in November 2021, according to an article published in Canada-based journal of Anesthesia the use of regional anesthesia techniques is a better choice for anesthesia provision when possible. Regional anesthesia (RA) has well-known benefits over general anesthesia and is known to improve many patient-related outcomes. The European and American Societies of Regional Anesthesia recommend performing RA as the sole anesthetic technique for managing COVID-19-positive/suspected patients undergoing surgery to improve healthcare safety for both patients and providers.
India Intravenous Anesthetic Market: Key Developments
In June 2021, an article published in the Journal of Clinical Medicine highlights the advancements in intravenous anesthesia, including the use of new hypnotics and models to improve the efficacy and safety of anesthesia. The article also discusses new applications of intravenous anesthesia, such as the use of target-controlled infusion and strategies for managing obese patients.
In May 2020, a study published in the journal Anesthesiology reported the development of a new intravenous anesthetic called cyclopropyl-methoxycarbonyl metomidate (CPMM). This anesthetic was found to have a faster onset and offset of action compared to other intravenous anesthetics, as well as a lower risk of side effects.
Browse 25 Market Data Tables and 20 Figures spread through 70 Pages and in-depth TOC on “India Intravenous Anesthetic Market”- Forecast to 2030, India Intravenous Anesthetic Market, by Type (Barbiturates, Ketamine, Benzodiazepines, Propofol, and Others) and by End User (Hospitals, Clinics, and Others).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/india-intravenous-anesthetic-market-3558
Key Takeaways of the India Intravenous Anesthetic Market:
- The India intravenous anesthetic market is expected to exhibit a CAGR of 3.2% during the forecast period. For instance, during 2019-2020, India Government spent around 1.2% of the total GDP (gross domestic product) and it increased to around 3.2% in the period 2021-2022. The increasing government spending on public health is to support each individual to gain needful treatment. Additionally, the share of Government Health expenditure (GHE) in Total Health Expenditure (THE) has also increased over time, standing at 40.6 per cent in 2019, and increased upto 55.1% in 2022.
- Among type, the propofol segment is expected to grow in the India intravenous anesthetic market over the forecast period. For instance, in May 2022, According to an article published in the International Journal of Health Sciences, propofol has been associated with pain relief in animal studies and human healthy volunteer studies. Propofol-based TIVA (total intravenous anesthesia) provides smooth and rapid induction and acceptable hemodynamic status during the maintenance period of postoperative pain for patients.
- Major players operating in the India anesthetics market include AstraZeneca, Plc, Fresenius Kabi, AbbVie Inc., Baxter International Inc., Braun Melsungen AG, Maruishi Pharmaceutical. Co., Ltd., Piramal Pharma Ltd., Hikma Pharmaceuticals, Inc., and Viatris Inc.
