Analgesics Market Size to Grow at a CAGR of 4.5% in the Forecast Period of 2023-2031
The ‘Global Analgesics Market Size, Share, Price, Report and Forecast 2028-2031’ by Expert Market Research gives an extensive outlook of the global analgesics market, assessing the market on the basis of its segments like types, drug classes, ROA, pain types, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Analgesics Market Size, Share, Price Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2016-2031)
- Forecast CAGR (2028-2031): 4.5%
The growth of the market for analgesics is being driven by the increasing prevalence of inflammation, musculoskeletal pain, migraine, and trauma pain, owing to the hectic and physically demanding lifestyles led by working people worldwide. The increasing cases of general surgeries and the surgical pain associated with it are further escalating the demand for analgesics in healthcare units, thereby, propelling the global analgesics market growth.
The increasing accessibility of painkiller tablets and capsules is accelerating the sale of the product. In addition, rising disposable income, growing health awareness, and increasing knowledge of analgesics through the internet are leading to an improved market dynamic.
Over the forecast period, the increase in geriatric population is expected to escalate the cases of chronic pain owing to the weakness of bones which will in turn provide impetus to the market for analgesics. On the other hand, the increasing susceptibility for injuries and muscular pain among the youth, infused by the rising inclination towards fitness, bodybuilding and sporting activities, is further bolstering the global analgesics market growth.
Analgesics Industry Definition and Major Segments
Analgesics, also referred to as painkillers, are medications which aim to reduce various types of pain and increase comfort of the patient. Analgesics can be taken in the form of powder, film, pill, or liquid.
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Based on type, the market can be segmented into:
- Prescription Analgesics
- OTC Analgesics
On the basis of drug class, the market has been classified into:
- Opioids
- NSAID
- Others
Based on ROA, the market can be broadly categorised into:
- Oral
- Parenteral
- Topical
- Transdermal
- Rectal
By pain type, the market has been divided into:
- Musculoskeletal Pain
- Surgical and Trauma Pain
- Cancer Pain
- Neuropathic Pain
- Migraine
- Obstetrical Pain
- Fibromyalgia
- Pain due to Burns
- Dental/Facial Pain
- Paediatric Pain
- Others
Based on application, the market is bifurcated into:
- Internal Analgesics
- External Analgesics
On the basis of region, the market can be categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Analgesics Market Trends
The key trends in the global analgesics market include the technological advancements in the healthcare sector augmenting the treatment infrastructure and gaining the trust of public for analgesics. Growing research and development activities by pharmaceutical companies aimed towards increasing the production of analgesics that are non-addictive are likely to be the other crucial trends in the market.
The thriving e-commerce industry is another key trend in the analgesics market bolstering the sale of analgesics via mobile applications or website portals. Trusted analgesics available over the counter are witnessing an increase in sales numbers.
In regional terms, Asia Pacific is likely to witness stable growth in the forecast period owing to the increasing geriatric population across countries such as China and Japan. Moreover, the strong foothold of pharmaceutical firms across developing countries like India is anticipated to boost the market growth in the coming years.
Key Market Players
The major players in the analgesics market report are Bayer AG, GlaxoSmithKline plc., Pfizer Inc., and Sanofi, 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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