Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Anaesthesia is one of the significant element required for surgery. It is used for inducing the transitory unconsciousness and loss of protective reflexes. As per the survey of Centres for Disease Control and Prevention (CDC), more than 51 million inpatient and 53 million outpatient surgeries were performed in the United States in 2017. The surgical procedures of cardiology and obstetrical are most commonly performed surgeries. The number of surgeries like cataract, tonsillectomy, caesarean sections and hip replacement are performed majorly with use of anaesthetic agents along with cochlear implantation, laparoscopic colectomy, laparoscopic hysterectomy, secondary hip replacement and knee replacement are more frequently performed in the recent years. The rising cases of surgical procedures has significant impact on North America local anaesthetic drug market. As the local anaesthetic drug are used mostly for reduction of pain at the time of surgery.
The North America local anaesthetic drug market is witnessing lucrative growth during the forecast period of 2021-2027. Local anaesthetics prevents transmission of nerve impulses from targeted area to the spinal cord. The dynamic factors like introduction of new and effective drugs is propelling the growth of North America local anaesthetic drug market. The increase in number of surgeries is refuelling the growth of North America local anaesthetic drug market. Increase in healthcare expenditure in developing countries is also elevating growth of North America local anaesthetic drug market. However, high cost of operative procedures is hindering the growth of North America local anaesthetic drug market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 3600 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 North America 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.
The North America local anaesthetic drug market is segmented by drug molecules, route of administration, distribution channel and country.
Drug molecules like bupivacaine, lidocaine, benzocaine, ropivacaine, prilocaine, Chloroprocaine and other local anaesthetic drugs are comprised in North America local anaesthetic drug market. In which prilocaine is also contributing in the growth of North America local anaesthetic drug market. Prilocaine is an amino acid amide which comprised of N-propyl-DL-alanine and 2-methylaniline to form amide bond. It has roles in local anaesthetic and anticonvulsant medicines. It is used for numb the areas of skin before surgical procedures or injections. The prilocaine works same as lidocaine by blocking the nerve signals in the body.
Route of administration like intravenous local anaesthesia, topical local anaesthesia and ophthalmic local anaesthesia are comprised in North America local anaesthesia drug market. In which topical local anaesthesia is also contributing in the growth of North America local anaesthesia drug market. They works by blocking the nerve signalling in the body. The topical anaesthesia provides better patient comfort, elimination of needle use and needle related pain, elimination of risk related to local infiltration local anaesthesia such as distortion of wound margin, systemic absorption and toxicity.
Distribution channels like online pharmacies, retail pharmacies and hospital pharmacies are comprised in North America local anaesthetic drug market. In which retail pharmacies are also contributing in growth of North America local anaesthetic drug market. The retail pharmacies provides medicines directly to patient and aware the customers about the use, side effects, adverse effects of the medications. They also help in maintaining the data of patients like previous medical conditions, allergies and current medicinal therapies of the patients.
Country wise North America local anaesthetic drug market is studied for countries like US, Mexico and Canada. In which United States is anticipated to dominate the market in 2020. The rising healthcare expenditure is propelling the growth of North America local anaesthetic drug market. The increasing events of surgical procedures is also refuelling growth of North America local anaesthetic drug market. The minimization of pain and patient safety expectations are also elevating growth of North America 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.
November 2018: Septodont declared lauching of Dentapen electronic syringe for application in dental anaesthesia.
April 2018: B. Braun Medical Inc. announced their first FDA- granted local anaesthetic for use in spinal anaesthesia named Clorotekal® which composed of Chloroprocaine hydrochloride.
• Astrazeneca announced various anaesthetic products in their portfolio such as Carbocaine (mepivacaine). Citanest (prilocaine), Dipitan (propofol), EMLA (lidocaine + prilocaine), Marcaine (bupivacaine), Naproin (ropivacaine) and Xylocaine (lidocaine/ lignocaine).
• Glenmark Pharmaceutical offered lidocaine ointment name Fougera for topical anaesthetic purpose comprised of lidocaine ointment USP, 5%.
The study comprised of local anaesthetic drug market. In which different segment of market are analysed. The market segments like drug molecules, route of administrations and distribution channels are analysed in the study. The study also imparts the dominating segments of the market. The drug molecules segment is dominated by lidocaine. Likewise, route of administration segment is dominated by intravenous route and distribution channel is dominated by hospital pharmacies. The study also imparts the geographical section of the market and it analysed that United States is dominating the market in 2020. The study also imparts impact of COVID-19 on local anaesthetic drug market and it concludes that 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. The study also analysed various key players operating in the market.
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