local anesthetics market was valued at USD 9.24 billion in 2021 and is expected to reach USD 13.34 billion by 2029
Data Bridge Market Research analyses that the local anesthetics market was valued at USD 9.24 billion in 2021 and is expected to reach USD 13.34 billion by 2029, registering a CAGR of 4.70% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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In recent years, the local anesthetics market is anticipated to grow rapidly during the forecast period. Over the study period, a rising number of surgeries was a prominent factor driving market expansion. According to the Plastic Surgery Statistics Report, the total number of cosmetic treatments performed in 2020 in the United States was 2,314,720, including 211,067 liposuction procedures. Because local anaesthetic is commonly utilized in these procedures, the demand for anaesthesia medicines will rise as the number of such surgeries increases. Hence this led to the high demand of local anesthetics in the market.
Global Local Anesthetics Market Definition
A local anaesthetic is a type of drug that is used to numb a specific part of the body. These medications can be used to treat painful disorders, prevent pain during procedures or operations, and relieve pain following surgery. Local anaesthetics prevent nerves in a specific area of your body from transmitting impulses to your brain. Dentists, surgeons, anaesthetists, GPs, and other doctors are the most common providers of local anaesthetics. Prescription or over-the-counter medications with moderate local anaesthesia are also available from pharmacies. Local anaesthetics can be delivered as injections, creams, gels, sprays, or ointments, depending on the use.
Local Anesthetics Market Dynamics
Increasing Number of Surgeries
The rising number of surgeries such as dental procedures, cosmetic surgeries, and plastic surgeries is a primary driver of the local anesthetics market’s growth. The increasing incidents of injuries and accidents results in the requirement for surgeries and hence will further influence the market dynamics during the forecast period.
Increasing Investment for Healthcare Infrastructure
Another significant factor influencing the growth rate of the local anesthetics market is the rising healthcare expenditure which helps in improving its infrastructure.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the local anesthetics market. Additionally, high disposable income and increasing use of local anesthetics for post-operative pain will result in the expansion of local anesthetics market. Along with this, rising geriatric population and surging prevalence of cardiovascular and respiratory system-related diseases will enhance the growth rate of the market.
Increase in the number of research and development activities
Moreover, the market’s growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the local anesthetics market growth. Along with this, rising drug approvals and launches will further propel the market’s growth rate.
Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the local anesthetics market growth during the forecast period.
Restraints/Challenges Global Local Anesthetics Market
On the other hand, the high cost associated with the local anesthetics will obstruct the growth rate of market. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the local anesthetics market. Additionally, strict guidelines, as well as regulations and side effects linked with the administration of local anesthetics such as pain, dizziness, muscle twitching, weakness, vomiting and others, will act as market restrain and further impede the growth rate of market during the forecast period of 2022–2029.
This local anesthetics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the local anesthetics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Global Local Anesthetics Market Scope
The local anesthetics market is segmented on the basis of application, drug type, demographic, dosage, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of application, the global hepatic drugs market is segmented into general surgeries, plastic surgery, cosmetic surgeries, dental surgeries and others.
On the basis of drug type, the global hepatic drugs market is segmented into bupivacaine, ropivacaine, lidocaine, chloroprocaine, articaine, benzocaine, and others.
On the basis of demographic, the local anesthetics market is segmented into pediatric, adults, and geriatric.
On the basis of dosage, the local anesthetics market is segmented into liquids, creams, gels, sprays, patches, and injectables.
Route of Administration
The route of administration segment for the local anesthetics market is segmented into inhalation, intravenous, and topical.
On the basis of end-users, the local anesthetics market is segmented into hospitals, specialty clinics, homecare and others.
On the basis of distribution channel, the local anesthetics market has also been segmented into hospital pharmacy, retail pharmacy, online pharmacy and others.
Some of the major players operating in the local anesthetics market are:
B. Braun Melsungen AG (Germany)
AbbVie Inc. (US)
F. Hoffmann-La Roche Ltd. (Switzerland)
Eisai Co., Ltd. (Japan)
Aspen Holdings (South Africa)
Boehringer Ingelheim International GmbH. (Germany)
bela-pharm GmbH & Co. KG (Germany)
Fresenius SE & Co. KGaA (Germany)
Pacira Pharmaceuticals Inc. (US)
Septodont Holding (France)
Mylan N.V. (US)
Teva Pharmaceutical Industries Ltd.(Jerusalem)
Pfizer Inc. (US)
Sagent Pharmaceutical, Inc. (US)
Novartis AG (Switzerland)
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