PFIZER, INC and FRESENIUS SE & CO. KGAA are the Key Players in the US General Anesthesia Drugs Market
The global US general anesthesia drugs market size is projected to reach USD 2.4 billion by 2025 from USD 2.0 billion in 2020, at a CAGR of 3.4% during the forecast period. Market growth is driven largely by rapid growth in geriatric population, rising prevalence of cancer and increasing number of emergency surgeries.
The major players operating in this market are Baxter International Inc. (US), Hikma Pharmaceuticals plc (UK), Pfizer Inc. (US), Piramal Enterprises Limited (India), AbbVie (US), Fresenius SE & Co. KGaA (Germany), Par Pharmaceutical (US), Teva Pharmaceuticals (Israel), Viatris/Mylan (US), Novartis AG (US), Abbott Laboratories (US), AstraZeneca plc (US), F. Hoffmann-La Roche (Switzerland), GlaxoSmithKline plc (UK), Gilead Sciences, Inc. (US), Bayer AG (Germany), Merck & Co., Inc. (Germany), Sanofi (France), Heritage Pharmaceuticals Inc. (US), Akorn (US), and Apotex (Canada).
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PFIZER, INC.
Pfizer is one of the leading players in the US general anesthesia drugs market. It has a strong geographic presence in over 46 countries and generates a significant portion of its revenue (46% in 2019) from the US. Its large market share can be attributed to its robust product portfolio. The company focuses on receiving approvals for various therapeutic applications. The company also adopts inorganic growth strategies such as agreements, collaborations, and acquisitions to further strengthen its market position. In 2015, Pfizer completed the acquisition of Hospira (a US-based provider of injectable drugs and infusion technologies).
FRESENIUS SE & CO. KGAA
Fresenius SE & CO. KGAA operates in the anesthesia drugs market through one of its business segments, Fresenius Kabi. The company’s anesthesia brand includes Diprivan (an intravenous propofol injection), which is the most prescribed propofol injection in the US, as quoted on the company’s website. The company focuses on organic growth through geographic product roll-out and new product launches. In 2019, Fresenius Kabi introduced its first medications with smart labels embedded with radio-frequency identification technology. The first +RFID smart-labeled product, Diprivan (Propofol) 200 mg per 20 mL (10 mg per mL) Injectable Emulsion, USP, was introduced in the US.
BAXTER INTERNATIONAL INC.
Baxter entered the anesthesia business in 1998 when it acquired Ohmeda Pharmaceutical Products (US). Although the company’s inhaled anesthetics are more widely used in the developed markets, the demand for these products is on the rise in emerging markets, representing a significant growth opportunity for the company. Baxter is the only company to offer all three of the most commonly used modern inhaled anesthetics for general anesthesia. This includes proprietary inhaled anesthetics, SUPRANE (desflurane, USP), Sevoflurane, USP, and FORANE (isoflurane, USP).
Related Reports:
US General Anesthesia Drugs Market by Route of Administration (Intravenous and Inhalational), End User (Hospitals, Ambulatory Surgery Centers) - Forecast to 2025
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
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