Certain factors that are driving the market growth include an increasing number of surgeries, new approvals of anesthetic drugs, and reduction in the cost of newly invented drugs.
The number of surgeries being performed are rising every year in Europe. The overall increase in the number of surgeries performed has a substantial impact on the anesthetics market, as they are used in all surgical procedures to reduce the pain during surgery. Along with rising surgeries, factors, such as new anesthetic drugs are also driving the market.
However, general anesthetic drugs cause several side-effects, including nausea, vomiting, dry mouth, sore throat, shivering, muscle aches, disorientation, itching, sleepiness, and mild hoarseness. The other factors, such as lack of skilled anesthetics and regulatory issues are restraining the market growth.
Key Market Trends
Application in Plastic and Cosmetic Surgeries is Expected to Witness High Growth
The advances in plastic surgery have been furthered by the progress in anesthesiology, making it the cornerstone on which the surgical progress has been made. The availability of new anesthetics and adjuvant drugs, advances in trans- and postoperative monitoring, as well as the early prevention of complications have facilitated these advances. The growth of outpatient procedures in cosmetic surgery requires effective anesthetic techniques that allow safe home returns shortly after the surgery is over. It is ideal that no surgical procedure in plastic surgery is performed without the presence of a qualified anesthesiologist.
Moreover, the number of cosmetic procedures has increased in Europe over the years. For instance, as per a 2018 report by International Society of Aesthetic Plastic Surgery, the number of surgical cosmetic procedures in Germany has increased from 308,258 in 2015 to 385,906 in 2018. This has also increased the demand for anesthesia, as it plays a vital role in surgery. Hence, as this trend continues in the future, the market is also expected to grow.
The European anesthesia drugs market is highly competitive and consists of a few major players. In terms of market share, a few of the major players currently dominate the market. Companies like AbbVie Inc., B. Braun Melsungen AG, Baxter, Fresenius SE & Co. KGaA, and Pfizer Inc., among others, hold the substantial market share in the European anesthesia drugs market.
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