Local Anesthesia Market Forecasts to 2030 - Global Analysis By Type, Route of Administration, End User and By Geography

According to Stratistics MRC, the Global Local Anesthesia Market is accounted for $3.0 billion in 2023 and is expected to reach $5.3 billion by 2030 growing at a CAGR of 8.4% during the forecast period. Local anesthesia is a medical treatment used to temporarily numb a specific area of the body to eliminate discomfort. It entails injecting anesthetics, such as lidocaine or novocaine, directly into the affected area to block nerve signals and stop pain perception. When receiving dental work, skin surgery, or joint injections, patients can stay awake and conscious, unlike with general anesthesia, which causes unconsciousness.

According to the American Society of Plastic Surgeons, in 2020, 2.3 million cosmetic surgical procedures, 13.2 million cosmetic minimally invasive procedures, and 6.8 million reconstructive procedures were performed in the United States 2020, representing a 3% increase over 2019.

Market Dynamics:

Driver:

Rising surgical procedures

Local anesthetics are becoming more and more used in a variety of surgical procedures because they can relieve specific discomfort without knocking patients out. Effective pain management is necessary due to the growing need for surgical procedures in a number of medical specialties, such as orthopaedics, dentistry, and dermatology. Additionally, the increasing prevalence of outpatient treatments and surgical improvements is driving up demand for local anesthetics.

Restraint:

Lack of skilled workforce

Local anesthesia plays a vital role in various medical procedures, administering local anesthetics requires specialized knowledge and training. However, there is a shortage of skilled professionals, such as anaesthesiologists or nurse anesthetists, who possess the necessary expertise in administering local anesthesia safely and effectively. This scarcity limits the availability of local anesthesia services, leading to delays in procedures or inadequate pain management for patients which significantly hamper market expansion.

Opportunity:

Technological developments

The development of automated systems for anesthesia delivery and monitoring helps in maintaining precise control over drug administration, improving patient safety, and reducing the workload on healthcare providers. Technological developments like pharmacogenomics, nanotechnology and automated anesthesia techniques are increasingly being employed for various surgical procedures. Furthermore, as the industry adopts innovative solutions, not only enhances the efficacy of local anesthetics but also propels market expansion.

Threat:

Risks associated with side effects and allergic reactions

The local anesthetics may develop allergy, which could result adverse reactions in sensitive individuals. This can include symptoms such as difficulty breathing, swelling of the face or throat, and a drop in blood pressure. In rare cases, local anesthesia may cause temporary or, very rarely, permanent nerve damage causing tingling and numbness. Furthermore, these side effects and allergic reactions can raise the anxiety of patients and healthcare providers, which may impact the demand for and uptake of local anesthetics.

COVID-19 Impact

The COVID-19 pandemic had a detrimental effect on the local anesthesia market as it caused delays in surgeries, disruptions in elective treatments, and a change in healthcare priorities. The need for local anesthetics was impacted by a sharp decline in non-urgent medical interventions brought on by lockdowns and safety concerns. Additional factors contributing to a slowdown included changing patient preferences, limited healthcare resources, and uncertain economic conditions which gradually hamper the market size.

The formulations segment is expected to be the largest during the forecast period

The formulations segment is estimated to hold the largest share, due to the development of prolonged-release or extended-release formulations including topical, injectables, and transdermal patches. The goal of ongoing research and formulation innovation is to prolong anesthesia, lessen side effects, and enhance the overall patient experience. Therefore, the growing number of medical and dental operations performed worldwide is driving the need for a variety of efficient local anesthetic formulations.

The epidural segment is expected to have the highest CAGR during the forecast period

The epidural segment is anticipated to have lucrative growth during the forecast period. This approach is frequently employed to relieve discomfort during labor, surgery, and other medical operations. Continuous developments in catheter design, imaging techniques, and drug formulations contribute to the refinement of epidural anesthesia. The goal of ongoing developments is to make epidural anesthetic techniques safer and more accurate. Thus, these factors significantly drive market expansion.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period owing to cutting-edge advancements in anesthetic delivery systems, formulations, and administration methods in nations like China, India, and Japan. Computer-assisted anesthetic delivery and ultrasound-guided surgeries are some of the examples included, which provide accuracy, safety, and patient comfort. Therefore, an increasing number of medical facilities and highly qualified healthcare workers, coupled with the region's dedication to implementing cutting-edge medical technologies which propels market expansion.

Region with highest CAGR:

North America is expected to witness profitable growth over the projection period, owing to advanced healthcare infrastructure and a well-established medical system. Technological advancements, including sophisticated anesthesia delivery systems and monitoring devices, characterize the region's commitment to cutting-edge healthcare practices. Additionally, the region's regulatory landscape, governed by stringent standards set by entities like the U.S. FDA and Health Canada, ensures high-quality and safe practices which are boosting market expansion.

Key players in the market:

Some of the key players in the Local Anesthesia Market include 3M, Pfizer Inc., Mylan, Molteno, B. Braun Melsungen AG, Septodont, AstraZeneca, Fresenius SE & Co. KGaA , Hikma Pharmaceuticals, Dentsply Sirona, Teva Pharmaceutical Industries and Piramal Enterprises.

Key Developments:

In August 2023, 3M announced it has completed the sale of certain assets from its dental local anesthetic portfolio, based in Seefeld, Germany, to Pierrel S.p.A.

In July 2023, Flagship Pioneering, Inc. and Pfizer Inc. announced the companies have partnered to create a new pipeline of innovative medicines.

In July 2023, 3M Health Information Systems (HIS) announced that U.S. News & World Report will incorporate the 3M™ Ambulatory Potentially Preventable Complications software.

Types Covered:

• Formulations
• Delivery Methods
• Other Types

Route of Administrations Covered:

• Infiltration
• Epidural
• Intravesical (Bladder) Route
• Intranasal Route
• Intra-Articular (IA) Route
• Intra-Osseous Route
• Transdermal Route
• Peripheral
• Other Route of Administrations

End Users Covered:

• Dental Clinics
• Ambulatory Surgical Centers
• Hospitals and Clinics
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances