PORTLAND, Ore., Jan. 24, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Artificial/Medically Induced Coma Market by Drug Type (Propofol and Barbiturate), Application (Status Epilepticus, Stroke, Traumatic Brain Injury, Brain Infections, Drug Overdose, and Others), and Distribution Channel (Hospital Pharmacies, and Drug Stores & Retail Pharmacies): Global Opportunity Analysis and Industry Forecast, 2023––2030″. According to the report, the global artificial coma/medically induced coma industry generated $640.17 million in 2020, and is anticipated to generate $868.63 million by 2030, witnessing a CAGR of 3.1% from 2023 to 2030.
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Prime determinants of growth
Escalating demand for the management of pain from geriatric population, increase in number of emergency surgeries, surge in number of drug launch and approvals and rise in prevalence of cancer drive the growth of the global artificial coma/medically induced coma market. However, side effects associated with anesthetics hinder the market growth. On the other hand, rise in heavy investment in healthcare sector presents new opportunities in the coming years.
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic has had a positive impact on the growth of the global artificial coma/medically induced coma market.
- At the starting of July 2020, a few cases were reported which included brain infection of meningitis with COVID-19. Therefore, anesthetics played an important role during treatment, which in turn, augmented the artificial coma/medically induced coma market during the pandemic.
The propofol segment to maintain its leadership status throughout the forecast period
Based on drug type, the propofol segment held the highest market share in 2020, accounting for around two-third of the global artificial coma/medically induced coma market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 3.2% from 2023 to 2030. This is attributed to rise in usage of induced coma. The report also discusses about barbeturates segment.
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The stroke segment to maintain its lead position during the forecast period
Based on application, the stroke segment accounted for the largest share in 2020, contributing to more than two-fifths of the global artificial coma/medically induced coma market, and is projected to maintain its lead position during the forecast period. However, the status epilepticus segment is expected to portray the largest CAGR of 3.6% from 2023 to 2030, owing to rise in number of status epilepticus cases.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global Artificial Coma/medically induced coma market. This is attributed to the robust infrastructure provided for research activities and presence of key players across North America. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 3.6% during the forecast period, owing to increase in new drug discovery, R & D activities for new product launch and rise in investments in the healthcare sector.
Leading Market Players
- Astrazeneca Plc.
- B. Braun Melsungen
- Baxter Healthcare Corporation
- Dr.Reddy’s Laboratories
- Fresenious SE & CO.
- Hikma Pharmaceuticals
- Pfizer Inc.
- Piramal Healthcare
- Teva Pharmaceuticals Industries Ltd.
- Viatris Inc.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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