Injectable Ketamine Market Forecast and CAGR
According to the latest research by Fact.MR, Injectable Ketamine market is set to witness a 9.8% growth during the year 2021-2031. The market is expected to witness growth owing to increasing number of surgeries, advanced technologies in drug delivery devices and rapid rise in aging population. Also, rising number of local manufacturers and increasing R&D activities in anesthetics are anticipated to boost the market development.
What is Driving Demand for Injectable Ketamine?
Factors like the rising prevalence of chronic diseases, the growing aging population, and rising utilization of anesthetics are projected to drive the market development. In addition, technological advancements support the development of the market.
The geriatric population is at higher risk of getting affected with chronic diseases like diabetes, CVD, and CRD that leads to rising interest in medical procedures. Accordingly, the rising aging population is additionally anticipated to drive the development of the market.
Rising number of minimally invasive surgical and diagnostic procedures that are carried out on an outpatient basis need a huge number of general anesthesia drugs. These general anesthesia drugs can possibly influence the cost of care as well as the efficacy in these outpatient settings. In this manner, the injectable ketamine market is expected to show significant growth.
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Rising Demographic Trends in the Elderly Population likely to boost Injectable Ketamine Sales
People over 65 years will be more susceptible to chronic diseases, because of which they are probably going to need more number of surgeries. As per a Population Reference Bureau report, published in 2016, the number of Americans 65 years or more is expected to be 98 million by 2060, and the share of the geriatric population from the total population is projected to be around 24%.
Additionally, the rising burden of cardiovascular diseases (CVD) which needs medical procedures is driving the development of the injectable ketamine market.
Also, the rising incidence of co-morbidities among the geriatric population leads to increase risk of surgical complications and toxicities associated with general anesthetics. The increase in the number of procedures and rising aging population that need anesthesia are some of the major factors that are leading to development of the market.
US and Canada Injectable Ketamine Market Outlook
The US Injectable ketamine market is expected to observe a robust growth in the market owing it to the rise in number of surgeries and large number of manufacturers present in the market. Development of the market is high in the U.S., boosted by growing risk of cardiac diseases and organ failures among baby boomers together with essential restructuring of the of the healthcare system in U.S.
Increasing adoption of advance business models aimed to developing novel methodologies like receiving faster drug approvals for lower time-to-market and more reliance on external partners, industry associations, and academia will keep on favoring the manufacturers operating in the country.
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Europe Demand Outlook for Injectable Ketamine
Europe is expected to be the second most lucrative region for the market owing to several factors. Certain factors boosting the market growth include a reduction in the cost of newly invented drugs, new approvals of anesthetic drugs, and an increasing number of surgeries.
Also, During the COVID-19 pandemic, anesthesiologists and Intensivist collaborated to treat COVID-19 patients. COVID-19 patients on a ventilator often require high doses of intravenous sedative drugs, such as ketamine. This is leading to market growth.
In Europe, the surgeries performed each year is rising at a rapid rate. The rise in the number of surgeries being performed has a significant impact on the injectable ketamine market, as anesthetics are extensively used in all surgeries to lower pain during surgery.
Who are the Key Manufacturers and Suppliers of Injectable Ketamine?
Some of the leading manufacturers and suppliers of Injectable Ketamine include
- Greenco Biologicals
- BNM Organics
- Troikaa parenterals
- Neon Laboratories
- Samarth Pharma
- Sun Pharmaceuticals
- Supriya Lifesciences
- Taj Pharmaceuticals
- Anhui Wanhe Pharmaceutical.
The Injectable Ketamine market is highly competitive, with the presence of a few of major players available in global markets, and various small-scale players in regional markets. Key players are supporting widely in the research and development to manufacture advanced products.
Moreover, key players are adopting strategies like launching new products, partnerships, and acquisitions and mergers to consolidate their position in the market. Globally, they are involved in long term contracts with healthcare companies, and are involving into partnerships and strategic alliances with other players in various countries to extend their business.
An Adaptive Approach to Modern-day Research Needs
Injectable Ketamine Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- Ketamine Hydrochloride (Ketamine HCl) Injection
- Plastic Surgeries
- Cosmetic Surgeries
- General Surgeries
- Dental Surgeries
- Gynecology Surgeries
By End User
- Ambulatory Surgical Centers
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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