Propofol Market Size

Propofol Market size was over USD 989.4 million in 2023 and is poised to cross USD 1.91 billion by 2036, growing at more than 5.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of propofol is evaluated at USD 1.03 billion. As the number of medical procedures performed such as general surgical, orthodontic and dental surgical procedures, and cataract removal surgeries is increasing, the demand for propofol drug across the world is also projected to rise in the upcoming years. On an average, approximately 235 million surgeries are performed worldwide. According to the World Health organization (WHO), 58.9% of these surgeries occur in high-income countries. Along with this, growing requirement for minimally invasive surgery procedures globally is also expected to drive market growth in the coming years. Furthermore, research and development activities initiated by the top market players for commercialization as well as new product development is anticipated to offer ample growth opportunities to the market in the near future.