Analgesics Market is valued around USD 25.44 Billion in 2019 and expected to reach USD 29.58 Billion by 2030 with the CAGR of 1.30% over the forecast period.
Analgesics serve as the pain killers which are used for the treatment of different types of pain. Pain management is one of the fastest developing areas which are further creating demand for analgesics. These are drugs based on opioids, non-opioids & combination drugs used for the treatment of more than two symptoms.
Global Analgesics Market report is segmented on the basis of type, drug class, route of administration, pain type, application and by regional. Based upon type, the analgesics market is fragmented into prescription analgesics and OTC analgesics. On the basis of drug class, the market is categorized into opioids, NSAID, and others. Based on route of administration, the market is fragmented into oral, parenteral, topical, transdermal, and rectal. On the basis of pain type, the market is divided into musculoskeletal pain, surgical and trauma pain, cancer pain, neuropathic pain, migraine, obstetrical pain, fibromyalgia, pain due to burns, dental/facial pain, pediatric pain, and others. On the basis of application, the market is fragmented into internal analgesics and external analgesics. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The analgesics market is mainly driven by the constant rising demand of minimally invasive procedures over the period of time owing to the various advantages over conventional surgical procedures. On the other hand, high prevalence rate of cardiovascular disorders and growth in laparoscopic procedures along with other disorders has also amplified the demand for minimally invasive procedures. Moreover, technological advancement with developing medical practices and evolution of new techniques for the treatment has also driven the market growth over the forecast period. However, high set-up cost with high prices of equipment’s & other materials along with regulatory issues are expected to impede the market growth.
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The developed regions such as North America and Europe are expected to hold the major market share owing to the presence of well-established healthcare facilities & infrastructure with advanced technology. Moreover, surge in research & development activities along with growth in investments are also supports the market growth. Asia Pacific is expected to dominate the analgesics market in terms of growth rate owing to the growing prevalence of chronic disorders such as cancer, arthritics & other. In addition, growth in surgical procedure along with trauma cases followed by constant growth of OTC drugs in the region is likely to enhance the market growth over the forecast period.
The major market players profiled in the analgesics market includes Novartis AG, GlaxoSmithKline PLC, Bayer AG, Johnson & Johnson, Pfizer Inc., Endo Pharmaceuticals, Reckitt Benckiser (RB), Eli Lilly and Company, Bristol-Myers Squibb, and Sanofi S.A. among others.
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