Anaesthesia is a condition which promotes loss of sensation and awareness in the body, when the certain drugs are administered before surgical procedures. Local anaesthesia is reversible loss of sensations to a specific body part or localized areas. They are administered in order to treat painful situations, elimination of pain at the time of major or minor surgeries along with for minimize post-operative pain. In high concentration some medicines are also used as local anaesthesia. Several commonly used drugs as anaesthetic are opioid analgesics, anticonvulsant and beta adrenoreceptor antagonists. The local anaesthetic drugs are mainly composed of carbonyl moiety via carbon chain linked for replacement of amino groups. On the basis of carbonyl containing linkage local anaesthetic drugs are classified by amide local anaesthetics and ester local anaesthetics.
MARKET DYNAMICS - LOCAL ANAESTHETIC DRUG MARKET
The local anaesthetic drug market is anticipated grow at CAGR of 3.8% during forecast period of 2021-2027. The growing adoption of updated technologies in surgical procedures is gaining the market attention of local anaesthetic drug market. The dynamic factors like introduction of new and effective drugs is propelling the growth of local anaesthetic drug market. The rising healthcare expenditure in developing countries is also refuelling the growth of local anaesthetic drug market. The rising number of surgeries is also elevating growth of local anaesthetic drug market. However, side effects of drugs is hindering the market growth of local anaesthetic drug market.
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COVID-19 IMPACT ON LOCAL ANAESTHETIC DRUG MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the local anaesthetic drug market. In addition, complete analysis of changes on local anaesthetic drug expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. There is slight slow growth of local anaesthetic drug market is experienced during the COVID-19 situation as there is several restraining factors like mismatch between demand and supply due to complete shutdown in many countries which hampered the transportation of general anaesthetic drugs. The several surgical procedures are post ponded during the time of COVID-19 pandemic. However, activities are resuming and all the pending surgeries are being held nowadays. The market acquired its original state and witnessing rapid growth during the forecast period 2021-2027.
LOCAL ANAESTHETIC DRUG MARKET - SEGMENTAL OVERVIEW
The local anaesthetic drug market is bifurcated by drug molecules, route of administration, distribution channel and geography.
LOCAL ANAESTHETIC DRUG MARKET BY DRUG MOLECULES
The local anaesthetic drug market is categorised by drug molecules like bupivacaine, lidocaine, benzocaine, ropivacaine, prilocaine, chloroprocaine and other local anaesthetic drugs. In which lidocaine is expected to dominate the market in 2020. The lidocaine is used as numbing medication which is used for numb an area of body. Which helps in reduction of pain or discomfort causes by invasive medical procedures like surgery, needle puncture or insertion of a catheter or breathing tube. The lidocaine also have extensive applications in topical and injectable anaesthetic. The lidocaine is also called as lignocaine which are sold under different brand names. It is amino type local anaesthetic which is also helpful in treatment of ventricular tachycardia.
LOCAL ANAESTHETIC DRUG MARKET BY ROUTE OF ADMINISTRATION
The local anaesthetic drug market is composed of various drug types like intravenous local anaesthesia, topical local anaesthesia and ophthalmic local anaesthesia. In which intravenous local anaesthesia is estimated to dominate the market in 2020. The rising uses of local anaesthesia in surgical procedures is propelling the growth of local anaesthetic drug market. The advancement in drug delivery systems is also boosting the growth of local anaesthetic drug market.
LOCAL ANAESTHETIC DRUG MARKET BY DISTRIBUTION CHANNEL
The local anaesthetic drug market is comprised of distribution channels like online pharmacies, retail pharmacies and hospital pharmacies. In which hospital pharmacies is estimated to dominate the market in 2020. The hospital pharmacies have high footfall of inpatient and outpatients owing to propel the growth of local anaesthetic drug market. The rising economical conditions in developing countries causing rise in healthcare expenditures is also refuelling the market growth of local anaesthetic drug market.
LOCAL ANAESTHETIC DRUG MARKET BY GEOGRAPHY
The local anaesthetic drug market is studied for geographical regions like North America, Europe, Asia Pacific and rest of the world. In which North America is estimated to dominate the market in 2020. The rising incidences of surgical procedures is propelling the growth of the region. The well-developed healthcare infrastructure owing to adoption of technologically advanced surgical equipment is also refuelling the growth of local anaesthetic drug market. Rising collaborations and new product launch is also elevating the growth of local anaesthetic drug market.
KEY PLAYERS IN LOCAL ANAESTHETIC DRUG MARKET
The key players operating in the local anaesthetic drug market are Advanced Pharma Inc., Akorn Inc., Aspen Pharmacare, Baxter International Inc., Fresenius Kabi, Glenmark Pharmaceuticals Inc., Mylan, Novartis Ag, Pacira Pharmaceutical, Pfizer Inc., Sagent Pharmaceutical and Teva Pharmaceutical Industries Ltd. among the others.
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