South Korea General Anesthesia Market Outlook
According to a new report by Expert Market Research titled, “South Korea General Anesthesia Market Size, Share, Analysis, Report and Forecast 2023-2028″,is projected to grow at a CAGR of 4.5% between 2023 and 2028. Aided by the increase in surgeries and diagnostic procedures and escalating demand for safe and effective anesthetics, the market is expected to grow significantly by 2028.
General anesthesia is a medically induced coma, often achieved by a balanced combination of intravenous drugs and inhaled gasses. It is used during surgeries to control pain, maintain unconsciousness, regulate breathing, and stabilise the heart rate and blood pressure. The primary goal is to ensure patients do not feel any physical distress during surgical operations.
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The South Korea general anesthesia market growth is being driven by an increasing consumer preference for safe and effective anesthesia during surgical procedures. With the rising awareness about the advantages of general anesthesia, including complete unconsciousness, pain control, and muscle relaxation, there has been a significant shift towards general anesthesia, resulting in a surge in demand.
Moreover, the escalating number of surgical procedures owing to the ageing population, increasing prevalence of chronic diseases, and advances in surgical techniques have further driven the South Korea general anesthesia market demand. General anesthesia is used in various surgeries ranging from routine procedures such as gallbladder removal and hernia repair to more complex operations like heart surgery and organ transplants.
The pharmaceutical industry plays a crucial role in driving the general anesthesia market. The development of new and improved anesthetic drugs with fewer side effects, faster onset of action, and quicker recovery times has revolutionised anesthesia delivery and enhanced patient outcomes. This constant innovation and drug development in the pharmaceutical industry contribute significantly to the South Korea general anesthesia market development.
Further, the advent and adoption of sophisticated anesthesia delivery systems, such as anesthesia machines with integrated monitors and alarms, and advanced ventilatory modes, have streamlined anesthesia administration and improved patient safety. This technological advancement is another critical factor propelling the market growth.
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Lastly, the rising trend of outpatient surgeries and the growing popularity of minimally invasive procedures have boosted the demand for short-acting anesthetic agents, thus spurring the South Korea general anesthesia market expansion. Furthermore, the increasing emphasis on pain management in post-operative care is expected to provide additional impetus to the market growth.
South Korea General Anesthesia Market Segmentation
The market can be divided based on drug type, route of administration, surgery type, and end use.
Market Breakup by Drug Type
Market Breakup by Route of Administration
Market Breakup by Surgery Type
- Heart Surgery
- Cancer Surgery
- Knee and Hip Replacements
- General Surgery
Market Breakup by End Use
- Ambulatory Surgical Centres
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the South Korea general anesthesia companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Fresenius Kabi Korea Ltd
- Hana Pharm Co., Ltd.
- Daewon Pharmaceutical Co., Ltd
- Pfizer Ltd.
- Baxter International Inc.
- AbbVie Inc.
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