Global Sedation In ICU Setting Market Size To Grow At A CAGR Of 5.60% In The Forecast Period Of 2023-2028
The ‘Global Sedation in ICU Setting Market Size, Share, Analysis, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global sedation in ICU setting market, assessing the market based on its segments like drug class and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Sedation in ICU Setting Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Around USD 2.99 Billion
• Forecast CAGR (2023-2028): 5.60%
• Forecast Market Size (2028): Nearly USD 4.14 Billion
Sedatives are medications recommended to patients that are in the ICU setting mainly for the therapy for agitation and anxiety, which can be triggered by various situations such as delirium, mechanical ventilation, dyspnea, untreated pain, and lack of sleep,. The proper usage of sedatives may enable patient care and help in the well-being of patients, and they also perform an important part in the treatment of critically ill patients.
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Owing to the rising elderly population and their vulnerability to various chronic illnesses, the global sedation in ICU setting market is witnessing rapid growth. Moreover, there is a rise in the number of patients being admitted to ICUs and critical care units due to the increasing prevalence of comorbid diseases among the elderly population, which is encouraging the progress of the market.
The rising disposable incomes and the increasing accessibility to robust healthcare are expected to favour the sedation in ICU setting market in the near future.
Sedation is commonly utilised in the intensive care unit (ICU) to lower anxiety levels and provide relaxation to patients who need mechanical ventilation. Moreover, analgesia and sedation are given to critically ill patients to ease their pain and stress levels, enable invasive procedures, and enhance harmonisation with mechanical breathing, hence aiding the market.
Sedation in ICU Setting Industry Definition and Major Segments
Sedation is a medication that helps ease the irritability and agitation of patients. Sedative drugs are normally given to patients to help them with medical or diagnostic procedures. Some common sedative drugs are diethyl ether, isoflurane, propofol, ketamine, etomidate, pentobarbital, lorazepam, and midazolam.
Sedation is significantly used in the ICU for patients who are ventilated to provide comfort while inserting an endotracheal tube in their trachea. Sedation is generally utilised in minor surgeries like endoscopy, vasectomy, or dentistry, rehabilitative surgeries, cosmetic surgeries, and patients with high anxiety levels, among others.
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Based on drug class, the global sedation in ICU setting market can be segmented into:
Based on regions, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Sedation in ICU Setting Market Trends
The sedation in ICU setting market is expected to be aided by the growth of the propofol drug segment in the upcoming years. This is due to increase in the usage of propofol as a painkiller and suppressant for agitation in mechanical breathing. Propofol is commonly used as a continuous intravenous concoction to sedate patients in the ICU as it penetrates quickly to the blood-brain barrier that causes sedation.
Rising investments in the advancement of healthcare facilities and the implementation of innovations such as appropriate ventilation, bigger room for visiting family members, and improved drainage systems, among others, are providing lucrative growth opportunities to the sedation in ICU setting market.
Based on region, North America is anticipated to significantly contribute to the sedation in ICU setting market due to the increasing geriatric population suffering from comorbidities and the rising number of beds for critical care in countries such as Canada and the United States. The market in the region is also being propelled by the growth in contagious disorder cases, which includes sepsis and respiratory problems that need ICU hospitalisation.
Meanwhile, increase in ICUs in hospitals, developing healthcare infrastructure, and the rise in ICU admissions are some of the trends bolstering the market for sedation in ICU setting in emerging countries across the Asia Pacific and Latin America regions.
Key Market Players
The major players in the global sedation in ICU setting market are Medtronic plc, AstraZeneca plc, GlaxoSmithKline plc, Mylan N.V., Teva Pharmaceutical Industries Ltd., and B. Braun Medical, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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