LOCAL ANESTHESIA DRUGS MARKET ANALYSIS

A local anesthetic (LA) is a medication that causes absence of pain sensation. Local anesthesia is where a small area of the body is numbed and people remain fully conscious during the procedure, whereas general anaesthesia is where people are totally unconscious and unaware of the procedure. Local anesthesia is often used during minor surgery or procedures, such as a biopsy or dental care. These medicines can be used to treat painful conditions, prevent pain during a procedure or operation, or relieve pain after surgery. Its effects are short-lived, so healthcare providers primarily use it for minor outpatient procedures. Anesthetists or doctors only apply local anesthetic to the part of the body that the medical procedure involves.

Market Statistics:

The global local anesthesia drugs market was valued at US$ 2,760.2 Mn in 2021 and is forecast to reach a value of US$ 3,876.8 Mn by 2028 at a CAGR of 5.0% between 2022 and 2028.

North America held dominant position in the local anesthesia drugs market in 2020, accounting for 39.10% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Local Anesthesia Drugs Market Share (%), by Region, 2021

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Recent Developments:

In May 2021, Heron Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) has approved ZYNRELEF (bupivacaine and meloxicam) extended-release solution for use in adults for soft tissue or periarticular instillation to produce postsurgical analgesia for up to 72 hours after bunionectomy, open inguinal herniorrhaphy, and total knee arthroplasty.

In August 2020, B. Braun Melsulgen AG and Royal Philips announced that Onvision needle tip tracking technology for regional anesthesia got the 501(k) clearance from the United States Food and Drug Administration (USFDA).

In January 2020, Pacira BioSciences, Inc. announced a collaboration with Envision Physician Services to train anesthesiology clinicians on ultrasound-guided regional anesthesia techniques using long-acting local anesthetics via a series of interactive workshops. The program supports ongoing efforts to advance the delivery of high-quality, patient-centered care.

Market Drivers:

1. Increasing number of surgeries (dental procedures, cosmetic surgeries, and plastic surgeries, as local anesthesia is widely used in such procedures) across the globe is expected to augment the growth of the global local anesthesia drugs market over the forecast period. For instance, according to the American Society of Plastic Surgeons, around 2,314,720 cosmetic procedures were performed in the United States in 2020, including 211,067 procedures of liposuction.
2. Increase in development of novel local anesthesia drugs and high demand for local anesthesia drugs is expected to boost growth of the global local anesthesia drugs market over the forecast period. For instance, in December 2021, Hikma Pharmaceuticals PLC announced it launched Bupivacaine HCl Injection. Bupivacaine HCl Injection is indicated in adults for the production of local anesthesia or analgesia for surgery, dental and oral surgery procedures, diagnostic and therapeutic procedures, and for obstetrical procedures.

Figure 2. Global Local Anesthesia Drugs Market Share (%), by Drug Type, 2021

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Market Restraints:

1. Side effects of anesthetic drugs is expected to hinder growth of the global local anesthesia drugs market during the forecast period. Local anesthetics are much safer to use, but they have fewer side effects than general anesthetics. Common side effects include numbness, dizziness, twitching, a metallic taste in the mouth, and ringing in the ears.
2. Regulatory framework is expected to hamper the growth of the global local anesthesia drugs market over the forecast period. For instance, the regulatory guidelines may vary from country to country, and pharmaceutical companies must follow them in order to get product approvals.

Market Opportunities:

1. Increase in prevalence of chronic diseases is expected to offer lucrative growth opportunities for players in the global local anesthesia drugs market. For instance, according to the Centers for Disease Control and Prevention (CDC), chronic diseases are the leading cause of death and disability in the United States, accounting for 70% of all deaths.
2. Growing geriatric population worldwide is expected to offer significant growth opportunities for players in the global local anesthesia drugs market. For instance, according to the World Health Organization (WHO), by 2030, one in six people in the world will be aged 60 years or over, and the number of people aged 60 years is expected to reach 2.1 billion by 2050.

Market Trends/Key Takeaways:

1. Frequent approvals and launches of novel drugs is expected to aid in the growth of the global local anesthesia drugs market. For instance, in August 2021, Pacira BioSciences announced that the U.S. Food and Drug Administration (FDA) has approved the use of Exparel for nerve block pain relief following shoulder surgery in adults.
2. Growing use of local anesthesia drugs across the globe is expected to propel the growth of the global local anesthesia drugs market. For instance, in February 2021, PainPass announced the launch of the first Cannabidiol/lidocaine product line targeting those with chronic pain and for numbing muscles externally.

Competitive Landscape:

1. Hikma Pharmaceuticals PLC
2. Fresenius SE & Co. KGaA
3. Glenmark Pharmaceutical Ltd.
4. B. Braun Melsulgen AG
5. Pacira BioSciences, Inc.
6. Pfizer Inc.
7. Septodont
8. Teva Pharmaceutical Industries Ltd.