Propofol Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026


Transparency Market Research

$ 5795

Propofol is a prescription, injectable anesthetic drug used to decrease the activity of brain and central nervous system. It is administered intravenously and is widely utilized in general anesthesia to perform minimally invasive surgeries. Propofol is also used in sedation procedures for mechanically ventilated adults, in procedural sedation, and for status epilepticus when other drugs have not produced desired results. Currently, Diprivan and Propoven brands are increasingly used for general anesthesia.

The global propofol market is projected to be driven by significant rise in demand for minimally invasive surgery procedures across the world. Increase in the number of general surgical procedures, cataract removal surgeries, and orthodontic and dental surgical procedures is anticipated to fuel the growth of the global propofol market during the forecast period. Research and development activities initiated by the leading players across the globe for new product development and commercialization are likely to drive demand for propofol during the forecast period. However, high cost and side effects such as reduced heart rate and low blood pressure are expected to restrain the global propofol market in the near future.

The global propofol market can be segmented based on application, distribution channel, and region. In terms of application, the global market can be bifurcated into general anesthesia and procedural sedation. General anesthesia is used to achieve medically induced coma which leads to reversible loss of consciousness in patients, enabling surgeons to perform surgery. Propofol is widely used for general surgical procedures. The general anesthesia segment is projected to account for significant market share by the end of 2026. Rise in the number of surgical procedures across the globe and easy availability are expected to boost the growth of the segment during the forecast period. Procedural sedation involves administration of sedatives or dissociating agents to induce reversible consciousness in patients by maintaining the cardio respiratory function. In terms of distribution channel, the global propofol market can be categorized into hospitals, ambulatory surgery centers, ophthalmic clinics, dental clinics, and specialty clinics. The hospitals segment is likely to dominate the global market during the forecast period.

Geographically, the global propofol market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for the largest share of the global market owing to significant increase in the number of minimally invasive surgical procedures, well-established health care facilities and infrastructure, and easy availability of drugs in the region. Europe is anticipated to account for the second leading share of the global propofol market by 2026. Increase in the geriatric population requiring dental and ophthalmic surgical procedures and rise in the number of general surgical procedures are likely to fuel the growth of the propofol market in the region during the forecast period. The market is Asia Pacific is expected to expand at the highest CAGR during the forecast period owing to large population base opting for general, dental, and ophthalmic surgeries in countries such as India and China, rise in awareness, increase in per capita health care expenditure, and rapidly improving health care facilities in the region.

The global propofol market is highly consolidated, with small number of manufacturers holding prominent share. Key players operating in the global propofol market include Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Fresenius Kabi AG, B. Braun Melsungen AG, AstraZeneca plc, SGPharma Pvt. Ltd., and Baxter international, Inc.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.