Global Analgesics Market Overview:
According to the latest report by IMARC Group, titled “Analgesics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global analgesics market reached a value of US$ 49.02 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 64.59 Billion by 2027, exhibiting at a CAGR of 4.5% during 2022-2027.
Analgesics refers to a class of drugs that help relieve pain without blocking nerve impulse conduction, affecting consciousness or altering sensory perception. They function by limiting the transmission of pain signals to the brain and interfering with its ability to interpret those signals. Derived from salicylic acid and phenacetin, some common analgesics include acetaminophen, aspirin, paracetamol, COX inhibitors, nonsteroidal anti-inflammatory drugs (NSAIDs), and opioid drugs. They are widely used to treat post-operative pain, inflammation, menstrual cramps, neuropathic conditions, headache, cancer treatment, and injuries, such as fractured bones.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Analgesics Market Trends:
The growing demand for pain management therapeutics, such as analgesics, across the globe can be attributed to the increasing prevalence of various chronic and lifestyle disorders, including cardiovascular disease, cancer, toothache, headache, sore muscles and arthritis, particularly among the rising geriatric population. They are widely used to treat moderate to acute pain associated with these medical conditions, which, in turn, is driving the market growth. Apart from this, various product innovations, such as the development of safer opioids with immediate and effective pain relief and enhanced efficacy and fewer side effects, are providing a considerable boost to the market growth.
Additionally, various pharmaceutical companies are collaborating with e-commerce platforms to enable the delivery of analgesics and other drugs to the doorstep of consumers, especially during the global outbreak of the coronavirus disease (COVID-19) pandemic and the consequent imposition of mandatory lockdowns, which, in turn, is contributing to the market growth. Other factors, including extensive research and development (R&D) activities to engineer novel combinations of the drug and the implementation of various government initiatives to increase awareness regarding effective pain management, are anticipated to drive the market toward growth.
Global Analgesics Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the market has also been analyzed with some of the key players being:
- Bayer AG
- Novartis AG
- GlaxoSmithKline PLC
- Pfizer Inc.
- Johnson & Johnson
- Reckitt Benckiser (RB)
- Endo Pharmaceuticals
- Bristol-Myers Squibb
- Eli Lilly and Company
Our report has categorized the market based on type, drug class, route of administration, pain type and application.
Breakup by Type:
- Over the counter (OTC)
Market Breakup by Drug Class:
Breakup by Route of Administration:
Market Breakup by Pain Type:
- Surgical and Trauma
- Pain due to Burns
Breakup by Application:
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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