Analgesics Market is expected to demonstrate a CAGR of 7.5% by 2030

The Global Analgesics Market size is estimated to be USD 47.62 billion in 2019 and is predicted to reach USD 105.51 billion by 2030 with a CAGR of 7.5% from 2020-2030. Analgesics are also known as pain killer which is used to treat various different types of pain such as wounds, surgeries and others. There are various opioids and non-opioids and combination drugs are there which are used in the pain management. These drugs are generally used for unbearable pain and pain management. Pain management is a major domain for chronic disorders such as cancer, and others.

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There has been increase in the various acute and chronic disorders such as cancer and others which has increased the demand for analgesics. There are various other factors attributed the growth of Analgesics Market include increase in geriatric population coupled with increased prevalence of cardiovascular disorders, arthritis and others.

The other factors driving the market growth includes increase in over the counter drugs, increased demand for pan management and changing lifestyle. However, stringent regulatory policies, and drug abuse are expected to hinder the market growth. On the other hand, increase in research and development activities led to the development of new and innovative drugs and increased demand for personalized medicines are further expected create ample opportunities in the analgesics market over the forecast period.

Market Segmentations and Scope of the Study:

The global analgesics market share is analyzed on the basis of type, drug class, route of administration, pain type, application and geography. On the basis of type, the market is segmented into prescription analgesics and OTC analgesics. On the basis of drug class, the market is divided into opioids, nsaid, and others. On the basis of route of administration, the market is divided 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 divided into internal analgesics and external analgesics. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America represents the developed market and anticipated to hold the major market share over the forecast period. The growth is attributed by various factors such as increased prevalence of chronic disorders, increased demand of pain management and increase in research and development activities over the time.

Asia Pacific is expected to develop significantly and expected t experience the gradual increase in market share over the forecast period owing to the presence of developing economies and increased prevalence of chronic disorders coupled with increase in geriatric population and increase in OTC drugs are expected to catalyze the analgesics growth.

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The analgesics, is highly competitive and fragmented in nature also, consists of a various market players. Some of the major market players include 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.

There have been various developments taking place in the market which further augment the market growth. For instance, in April 2019, Pfizer and Eli Lilly and Company announced top-line results from a Phase III clinical trial of two doses of tanezumab in moderate-to-severe osteoarthritis (OA) of the hip or knee. The results were mixed, with the 5 mg dose meeting two of the three co-primary efficacy endpoints but missing on the patients’ overall assessment of their OA. In the 2.5 mg cohort, patients didn’t describe a statistically significant improvement in pain, physical function or overall assessment.