INDIA INTRAVENOUS ANESTHETIC MARKET ANALYSIS (2019-2027)
India Intravenous Anesthetic Market– Insights
India is one of the highest populated countries in the world. The increasing geriatric population, changing lifestyle, and rising number of chronic diseases are expected to drive demand for intravenous anesthetics. For instance, according to the OECD (Organization for Economic Co-operation and Development), in India, around 10,000 heart bypass, 8,500 knee replacement, and 5,500 spinal fusion surgeries were performed in 2011. The surgical treatment cost advantage compared to other countries is a major factor that increases the number of surgeries conducted in India, which is expected to drive growth of the market over the forecast period.
In addition, increasing government expenditure on healthcare sector is another factor that is expected to drive growth of the global intravenous anesthetic market. For instance, during 2016-2017, India Government spent around 1.02% of the total GDP (gross domestic product) and it increased to around 1.28% in the period 2017-2018. The increasing government spending on public health is to support each individual to gain needful treatment. It also helps to reduce treatment cost burden and provide treatment access to patient with chronic disease problems.
The India intravenous anesthetic market is estimated to be valued at US$ 65.0 million in 2019 and is expected to exhibit a CAGR of 2.6% over the forecast period (2020-2027).India
Intravenous Anesthetic Market Share (%) Analysis, By Type, 2019
Furthermore, increasing government support for public healthcare is a key driving factor that is expected to drive growth of the India intravenous anesthetic market. For instance, in 2018, the Government of India launched nationwide health care reform ‘Ayushman Bharat’. This scheme of Indian government had taken significant step towards universal health coverage. Under this scheme, poor and vulnerable families receives financial coverage for hospital expenses for secondary and tertiary care.
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India Intravenous Anesthetic Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027
India Intravenous Anesthetic Market- Competitive Landscape
Major players operating in the India intravenous anesthetic market include AstraZeneca Plc, Fresenius Kabi, AbbVie Inc., Baxter International Inc., B. Braun Melsungen AG, Maruishi Pharmaceutical Co., Ltd, Piramal Healthcare, Hikma Pharmaceuticals, and Mylan N.V.
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