Portland, OR, June 15, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global general anesthesia drugs market generated $5.4 billion in 2021, and is expected to reach $7.7 billion by 2031, witnessing a CAGR of 3.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in prevalence of chronic disease such as cancer, cardiovascular disease, and osteoarthritis, increase in demand for inhalation anesthesia, and surge in funding from private & government organizations for development of pharmaceuticals drive the growth of the global general anesthesia drugs market. However, side effects such as nausea, vomiting, and allergy associated with general surgeries restrict the market growth. On the other hand, rise in R&D activities for formulation of general anesthesia drug and increase in number of drug approvals present new opportunities in the coming years.
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Impact of COVID-19 on General Anesthesia Drugs Market-
- According to the British Journal of Surgery in May 2020, nearly 28.4 million elected surgeries were projected to be canceled in 2020 due to Covid-19 pandemic. So, the demand for general anesthesia drugs declined due to cancellation or postponement of elective surgeries and treatments.
- Drug development…
