An analysis by Research and Markets said the global anesthesia drugs market is poised for significant growth in the next four years.
Here’s what you should know:
1. Market analysts believe the market was worth $11.17 billion in 2015. They believe the market’s value will blossom to $13.20 billion by 2020. Analysts anticipate the market will grow at a compound annual growth rate of 3.4 percent.
2. An increasing number of surgeries supported by the development of new anesthetics and the decreasing cost of those drugs are driving market growth. However, a lack of trained anesthesiologists and possible drug side effects could hamper the market.
3. Analysts believe the market is segmented by type of anesthesia and route of administration.
4. Companies involved in the market include Baxter, Hospira, Abbott, Roche, Novartis, Pfizer, Piramal, AstraZeneca and Boehringer Ingelheim.