Propofol Market Growth to Gain Impetus Owing to the Increasing Number of Surgical Procedures and Rising Influence of the Drug on Anesthesia Practice throughout 2022 – 2030
Research Nester published a report titled “Propofol Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the propofol market in terms of market segmentation by application, distribution channel, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global propofol market is anticipated to record a CAGR of ~5% throughout the forecast period, i.e., 2022-2030. The market growth can be attributed to the practice of using anesthesia that has been highly influenced by propofol drug. This injectable drug has been very helpful for the patients who are undergoing procedures that require general anesthesia as well as sedation by reducing postoperative nausea, vomiting incidences and residual effects. These are considered to be the major factors anticipated to fuel market growth in the upcoming years.
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The market is segmented by application, distribution channel and end user. Based on application, the general anesthesia segment is anticipated to hold significant market share owing to easy availability of the drug as well as rising number of surgical procedures all across the world. Furthermore, by distribution channel, the hospitals segment is expected to grab the largest market share on the back of high number of admissions in hospitals.
On the basis of regional analysis, the propofol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, Middle East & Africa region. The market for propofol in North America is anticipated to hold the leading share during the forecast period ascribing to rising number of minimally invasive surgical procedures, well-established healthcare facilities and others.
Rising Number of Surgical Services to Drive Market Growth
Surgical procedures are considered to be an important part of the public healthcare system. These services are anticipated to play a large role in public health owing to epidemiological transition. As propofol is primarily used to perform surgical services, the market for the drug is estimated to boost in the upcoming years.
However, concerns regarding the side effects associated with the drug is expected to operate as a key restraint to the growth of propofol market in the upcoming years.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of propofol market which includes company profiling of Pfizer Inc., Bachem Holding AG, Porton Fine Chemicals Ltd, SI Group, Inc., AstraZeneca plc, Fresenius Kabi AG, Baxter Healthcare Corporation, Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Mylan N.V., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the propofol market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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