The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s local anesthesia drugs market report forecasts the local anesthesia drugs market size to grow to $5.23 Billion by 2027, with a CAGR (compound annual growth rate) of 5%.

Learn More On The Local Anesthesia Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/local-anesthesia-drugs-global-market-report

Local Anesthesia Drugs Market Size Forecast
The global local anesthesia drugs market is expected to grow from $4.05 billion in 2022 to $4.30 billion in 2023 at a compound annual growth rate (CAGR) of 6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The local anesthesia drugs market size is expected to grow to $5.23 billion in 2027 at a compound annual growth rate (CAGR) of 5.0%.

North America held the largest local anesthesia drugs market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Local Anesthesia Drugs Market Driver ­– Increase In Number Of Surgeries
For instance, according to the National Library of Medicine, a US-based organization for biotechnology information, the number of cardiovascular surgeries is predicted to increase consistently to reach a demand of 15,501 cases in 2040, with an increase of 46.5 %. This growth rate is substantially higher than 2019’s (4.3%). Therefore, the increasing number of surgeries drives the local anaesthesia drugs market.

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Key Local Anesthesia Drugs Market Trend – Product Innovation
Major companies operating in the local anaesthesia drugs market focus on developing new product solutions to strengthen their position. For instance, in December 2021, Hikma Pharmaceuticals PLC, a UK-based company operating in local anaesthesia drugs, introduced the Bupivacaine HCl Injection in 10mL and 30mL doses with improvements like 0.25%, 0.5%, and 0.75%. Bupivacaine HCl Injection is recommended for adults to produce local or regional anaesthesia or analgesia for surgical, dental, and oral surgery operations, as well as diagnostic and treatments and obstetrical procedures.

Local Anesthesia Drugs Market Segment
1) By Type: Bupivacaine, Lidocaine, Benzocaine, Ropivacaine, Prilocaine, Chloroprocaine, and Other Types
2) By Mode of Administration: Injectable, Surface Anesthetic
3) By Distribution Channel: Hospital Pharmacy, Pharmacy Stores, Other Channels

Local Anesthesia Drugs Market Major Players and Strategies
Major players in the local anesthesia drugs market are Hikma Pharmaceuticals PLC, Fresenius SE & Co. KGaA, Glenmark Pharmaceutical Limited, B. Braun Melsulgen AG, Pacira BioSciences Inc., Pfizer Inc., Septodont, Teva Pharmaceutical Industries Limited, Aspen Pharmacare Holdings Limited, Novartis Inc., Sagent Pharmaceutical, Mylan N.V., Advanced Pharma Inc., Akorn Operating Company LLC, and Endo International plc.

In July 2021, Septodont, an India-based pharmaceutical dentistry company, acquired Utlracain for an undisclosed amount. Through this acquisition, Septodont’s existing dental portfolio will allow them to strengthen the value proposition they bring to the customers through a broader range of products and solutions. Ultracain is a France-based company operating in local anaesthesia drugs.

The Local Anesthesia Drugs Global Market Report 2023 covers regional data on local anesthesia drugs market size, local anesthesia drugs market trends and drivers, opportunities, strategies, and local anesthesia drugs market competitor analysis. The countries covered in the local anesthesia drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Local anesthesia drugs are a type of pain control used during minor procedures to numb a small area where the pain is likely to occur. These drugs are used as local anesthetics to suppress pain receptors known as nociceptors, blocking them from sending pain impulses to the brain.

View More Reports Related To The Local Anesthesia Drugs Market –
Anesthetics Global Market Report 2023
Inhalation Anesthesia Global Market Report 2023
Anesthesia Machines Global Market Report 2023

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