Etomidate Market size was over USD 80.42 billion in 2023 and is anticipated to reach USD 121.12 billion by 2036, witnessing around 3.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of etomidate is estimated at USD 82.48 billion. The growth of the market can be attributed primarily to the increasing demand for effective anesthetic drugs, and growing research and development activities associated with the development of drugs for cardiovascular diseases. Along with these, etomidate is widely used in animal testing and experiments. With the rise in the number of tests being conducted on animals, the demand for the product is expected to witness a surge in the upcoming years. In 2019, the United States alone used more than 790,000 animals for research. Out of these, guinea pigs were used the most, accounting for the largest share of around 25 percent. Furthermore, removal of epileptogenic centers from the brain during speech lateralization also involves deployment of the product, which in turn is projected to offer ample growth opportunities to the market in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
3.2% |
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Base Year Market Size (2023) |
USD 80.42 billion |
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Forecast Year Market Size (2036) |
USD 121.12 billion |
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Regional Scope |
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The market is segmented by end-user into hospitals, clinics, ambulatory surgical centers, and others, out of which, the ambulatory surgical centers segment is anticipated to hold the largest share in the global etomidate market. This can be accounted to the high usage of etomidate during incidences of trauma and cardiovascular emergencies. Additionally, on the basis of product type, the fat emulsion segment is assessed to acquire the largest share during the forecast period, which can be credited to the lesser side effects associated with drug administration via fat emulsion formulation. Apart from this, fat emulsions play an important role in energy metabolism and storage during operations, which is also predicted to boost the growth of the market segment in the years to come.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By End-User |
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APAC Market Statistics
On the basis of geographical analysis, the global etomidate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is set to account for largest revenue share by 2036, attributed to favorable government policies regarding the use of etomidate in medical procedures in the region. In addition, rapidly growing healthcare infrastructure is also expected to drive the market growth in the region in the coming years.
North America Market Analysis
Moreover, the etomidate market in North America is projected to gather the largest share during the forecast period ascribing to the increasing prevalence of cardiovascular diseases, and increasing number of surgical procedures in the region. According to the Agency for Healthcare Research and Quality, there were a total of 9,605,000 inpatient stays for any operation room procedure in the United States in 2018, out of these 8,425,900 stays were for principal or procedures.
December 2020- Caplin Steriles Limited, subsidiary company of Caplin Point Laboratories Limited was granted approval from the U.S. Food and Drug Administration for its etomidate injection USP, 20mg/10mL (2mg/mL) and 40 mg/20ml (2mg/mL) single-dose vial presentations.
September 2018- Avet Pharmaceuticals Inc. announced the immediate availability of Etomidate Injection, USP, in 20mg/10mL and 40mg/20mL strengths to the company’s growing portfolio of generic injectable products.
Author Credits: Radhika Pawar
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