Global Propofol Drug Market Size, Share and Trends Analysis Report, By Application (Local Anesthesia and General Anesthesia), Forecast Period (2022-2028)

The global propofol drug market is anticipated to grow at a CAGR of 3.5% during the forecast period (2022-2028). The global propofol drug market is expected to be fueled by a large increase in demand for minimally invasive surgery techniques. During the projected period, the global propofol medication market is expected to expand due to an increase in the number of general surgical procedures, cataract removal surgeries, and orthodontic and dental surgical procedures. During the forecast period, demand for propofol is expected to be driven by research & development initiatives launched by key players around the world for new product development and commercialization. For instance, in August 2021, a study was undertaken by researchers from the University of Michigan and the Washington University School of Medicine in St. Louis to see which common anesthetic drugs would produce the best clinical outcomes and recovery for patients.

Anesthetics such as inhaled anesthetics and intravenous propofol were used in the surgeries. During the projection period, the segment is predicted to develop due to an increase in the number of surgical procedures performed around the globe and convenient availability. The administration of sedatives or dissociating drugs to create reversible consciousness in patients while maintaining cardiac respiratory function is known as procedural sedation. Propofol is an injectable anesthetic medication prescribed to reduce brain and central nervous system activity. It’s given intravenously and is commonly used in general anesthesia for less invasive procedures. Propofol is also used in mechanically ventilated adults’ sedation operations, procedural sedation, and for status epilepticus when other medicines haven’t worked.

Over the forecast period, the global general anesthesia medications market is expected to rise due to the rising prevalence of the cardiovascular disease. According to the American Heart Association’s 2018 Heart Disease and Stroke Statistics, over 92.1 million adults in the United States have cardiovascular disease or stroke-related complications.

Some major players in the market include AstraZeneca Plc, B. Braun Melsungen AG, Fresenius Kabi AG, Pfizer Inc., Teva Pharmaceutical Industries Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships,  collaborations, and new product launches, to stay competitive in the market. For instance, in September 2020, the US Food and Drug Administration has authorized Pfizer Inc.’s propofol injectable emulsion for general anesthetic use.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Indication
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- AstraZeneca Plc, B. Braun Melsungen AG, Fresenius Kabi AG, Pfizer Inc., Teva Pharmaceutical Industries Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Propofol Drug Market Report by Segment

By Indication

• Local Anesthesia
• General Anesthesia

Global Propofol Drug Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa