The Analgesics Market is expected to witness significant growth in the coming years, driven by a multitude of factors. The rising prevalence of chronic pain conditions such as arthritis, osteoarthritis, and neuropathic diseases is a major contributor to market expansion. Additionally, the increasing number of surgeries performed worldwide is creating a positive demand for analgesics for post-surgical pain management.
The analgesics market was valued at USD 40.80 Billion in 2023 and is anticipated to reach USD 63.57 Billion by 2031, registering a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031. The growing geriatric population, susceptible to chronic pain conditions, coupled with the increasing number of surgeries, is expected to fuel market demand throughout the forecast period.
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List of Analgesics Companies Profiled in Report:
- Abbott
- AbbVie Inc.
- Assertio Holdings, Inc.
- Bausch Health Companies Inc.
- Bayer AG
- Eli Lilly and Company
- Endo International plc
- endo pharmaceuticals
- Hoffmann-La Roche AG
- GlaxoSmithKline plc
- Janssen Global Services, LLC
- Johnson and johnson
- Merck & Co. Inc.
- Novartis AG
- Pfizer Inc.
- Purdue Pharma L.P.
- Reckitt Benckiser Group
- Sanofi
- Teva Pharmaceutical Industries Ltd.
- Viatris Inc.
Chronic Pain and Surgical Surge Drive Analgesics Market Growth
Arthritis, a leading cause of pain and disability, affects millions worldwide. Statistics from the CDC reveal that nearly a quarter (23.7%) of U.S. adults have been diagnosed with arthritis, necessitating effective pain management solutions and fueling the analgesics market.
The global rise in surgeries, with an estimated 310 million major procedures performed annually according to NCBI, creates a significant demand for pain relief medications. This translates to substantial growth opportunities for the analgesics market.
The market is also witnessing a growing focus on the development of novel and safer pain management solutions, particularly non-opioid analgesics, due to the rising concerns associated with opioid dependence and abuse. Regulatory bodies are actively promoting the development of non-addictive alternatives for pain management, further propelling market growth.
Recent Developments
In March 2023, Pfizer received FDA approval for ZAVZPRET, a novel nasal spray using a CGRP receptor antagonist for treating acute migraines in adults. This approval signifies a positive outlook for the analgesics market, as new and effective pain management options are likely to fuel market growth.
In August 202, Dr. Reddy’s Laboratories relaunched their over-the-counter (OTC) naproxen sodium tablets in the U.S. market, capitalizing on the strong consumer demand for the product. This highlights the potential of established pain management solutions in the market.
Key Market Segmentation
By Drug type
- Opioids
- Non-opioids
- Compound medication
By Route of Administration
- Oral
- Transdermal
- Parenteral
- Others
By Application
- Musculoskeletal
- Migraine
- Neuropathic
- Obstetrical
- Surgical and Trauma
- Cancer
- Fibromyalgia
- Pain due to Burns
- Dental/Facial
- Pediatric
- Others
By Distribution Channel
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
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Non-Opioids, Oral Route, and Surgical Applications Lead the Market
Dominance of Non-Opioids (55% Share): Concerns surrounding opioid addiction and the growing availability of generic non-opioid alternatives have propelled this segment to the forefront. Government and private initiatives further encourage the use of non-opioids for pain management, solidifying their market lead.
Oral Route Takes the Top Spot (50% Share): Ease of administration and the non-invasive nature of oral analgesics, like tablets and capsules, make them the most preferred option. Pharmaceutical companies are actively developing new oral medications with fewer side effects and lower overdose risks, ensuring continued dominance in this segment.
Surgical & Trauma Applications Lead the Market (22% Share): The high prevalence of traumatic injuries, coupled with the increasing number of surgeries, fuels the demand for analgesics in this segment. Initiatives like the Global Emergency and Trauma Care Initiative further emphasize the importance of effective pain management in these situations, ensuring continued growth for surgical & trauma applications.
Impact of Russia-Ukraine War on the Analgesics Market
In the conflict zone, injuries cause a surge in musculoskeletal, surgical, and trauma pain, often compounded by limited access to healthcare. Cancer patients face a double burden due to disrupted supply chains hindering access to pain medication and damaged healthcare infrastructure. Additionally, the immense stress experienced by pregnant women in the region can worsen existing pain and complicate childbirth.
The war’s reach extends beyond the battlefield. Increased global anxiety can exacerbate chronic pain conditions like fibromyalgia and neuropathic pain. Disruptions in the global supply chain of medications and equipment might indirectly impact access to pain relief for burns, dental issues, and pediatric pain.
The war’s mental health impact is another concern. Mental health struggles like depression, anxiety, and PTSD can contribute to chronic pain or hinder managing existing pain. Limited access to pain medication due to the war could also lead to increased opioid dependence. However, potential benefits exist. The war’s focus on pain management could spur investment in
The Analgesics Market Is Currently Led By North America, Holding A Commanding 31.76% Share In 2023
The region boasts a robust presence of major pharmaceutical companies who heavily invest in analgesics research and development. This constant innovation fuels market growth. North America faces a high prevalence of chronic pain conditions, necessitating effective pain management solutions. Additionally, frequent surgeries and the relatively high cost of analgesics in the region further contribute to its significant market size.
Government efforts to control opioid use play a role in shaping the market. This creates a demand for novel and safer pain management solutions, spurring further growth.
Key Takeaways for the Analgesics Market Study
- Rising prevalence of chronic pain conditions and increasing surgical procedures are expected to propel market growth.
- The non-opioid segment dominates the market due to growing concerns regarding opioid dependence.
- The oral route of administration is preferred for its convenience and non-invasive nature.
- The surgical & trauma segment is expected to witness significant growth due to the high demand for pain medication after surgeries and during trauma management.
- The Asia Pacific region is anticipated to witness the fastest growth due to the growing geriatric population and increasing investments in the region.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Analgesics Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Analgesics Market Segmentation, By Drug type
Chapter 9 Analgesics Market Segmentation, By Route of Administration
Chapter 10 Analgesics Market Segmentation, By Application
Chapter 11 Analgesics Market Segmentation, By Distribution Channel
Chapter 12 Regional Analysis
Chapter 13 Company profile
Chapter 14 Competitive Landscape
Chapter 15 Use Case and Best Practices
Chapter 16 Conclusion
Continued…
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