Local anesthesia drugs are used to numb a small part of the body during a procedure or surgery (usually a minor one). Local anesthesia is a one-time injection of medicine that numbs a small area of the body. Bupivacaine is a prescription medication used as a local anesthetic that blocks the nerve impulses that send pain signals to the brain. These drugs can be used to treat painful conditions, prevent pain during a procedure or operation, and relieve pain after surgery. Local anesthesia drugs are used in various surgical procedures.
Market Statistics:
The global local anesthesia drugs market is estimated to account for US$ 2,760.2 Mn in terms of value by the end of 2021.
Market Drivers:
High demand for local anesthesia drugs due to increase in number of surgeries around the world is expected to propel growth of the global local anesthesia drugs market during the forecast period. For instance, in December 2021, Hikma announced the launch of the Bupivacaine HCl Injection. It is indicated for the production of local anesthesia for surgery, dental & oral surgery procedures, diagnostic and therapeutic procedures, and for obstetrical procedures. Moreover, Hikma launched Ropivacaine HCl Injection; indicated for the production of local anesthesia for surgery and for acute pain management.
Market Opportunities:
Growing use of local anesthetic for post-operative pain is expected to offer significant growth opportunities for players in the local anesthesia drugs market. For instance, in May 2021, Heron Therapeutics announced the Food and Drug Administration (FDA) has approved ZYNRELE, a first and only FDA-approved extended-release dual-acting local anesthetic, clinically proven to manage pain and to eliminate the need for opioids for up to 72 hours following surgery better than bupivacaine solution, the current standard-of-care.
Market Restraints:
Side effects of anesthetic drugs and stringent rules and regulations are expected to hamper the growth of the global local anesthesia drugs market. Local anesthetics are much safer to use, but they have fewer side effects than general anesthetics. Common side effects include numbness, dizziness, twitching, a metallic taste in the mouth, and ringing in the ears. Moreover, pharma companies need to follow regulatory guidelines to get product approvals.
Global Local Anesthesia Drugs Market - Impact of Coronavirus (Covid-19) Pandemic
The use of anesthesia drugs has decreased slightly as surgeries have been postponed or canceled due to the COVID-19 outbreak. However, as activities resume, all of the elective surgeries that had been postponed or canceled are now being completed, which in turn has increased the use of anesthesia drugs. Moreover, the use of local anesthesia to treat people with COVID-19 is in high demand due to its benefits and minimal risk of viral transmission. This in turn is expected to aid in the growth of the local anesthesia drugs market.
Key Takeaways:
The global local anesthesia drugs market was valued at US$ 2,760.2 Mn in 2021 and is forecast to reach a value of US$ 3,876.8 Mn by 2028 at a CAGR of 5.0% between 2021 and 2028.
To know the latest trends and insights prevalent in the Global Local Anesthesia Drugs Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/local-anesthesia-drugs-market-5062
Market Trends:
- Rising number of surgeries is expected to drive growth of the global local anesthesia drugs market. For instance, according to the American Society of Plastic Surgeons, in 2020, around 6.8 million reconstructive procedures, 13.2 million cosmetic minimally invasive procedures, and 2.3 million cosmetic surgical procedures were performed in the United States.
- Rising approvals of novel drugs is expected to boost growth of the global local anesthesia drugs market. For instance, in March 2021, Luye Pharma Group received approval for clinical trials by the Centre for Drug Evaluation of China’s National Medical Products Administration for its LY09606, the first Ropivacaine multivesicular liposome formulation local anesthetic to be used as a postoperative analgesic.
Competitive Landscape:
Major players operating in the global local anesthesia drugs market include Septodont, Pfizer Pacira BioSciences, Inc., B. Braun Melsulgen AG, Glenmark Pharmaceutical Ltd., Fresenius SE & Co. KgaA, Hikma Pharmaceuticals PLC, and Teva Pharmaceutical Industries Ltd.
Recent Developments:
In March 2021, the Food and Drug Administration (FDA) approved the New Drug Application (NDA) submitted by Pacira BioSciences Inc. for the expanded use of its Exparel (Bupivacaine Liposome Injectable Suspension) in pediatric patients.
In December 2019, Heron Therapeutics, Inc. announced that Heron's New Drug Submission for HTX-011 for the management of postoperative pain was granted Priority Review status and accepted by Health Canada.
