According to the latest report by IMARC Group, titled "Analgesics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the analgesics market outlook. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. the global analgesics market size reached US$ 54.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 77.2 Billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032.
Analgesics, commonly known as painkillers, are a class of drugs designed to relieve pain without causing loss of consciousness. They play a crucial role in managing both acute and chronic pain, enhancing the quality of life for individuals suffering from various conditions. These medications work through different mechanisms to reduce or block pain signals before they reach the brain. There are mainly two types of analgesics, including non-opioid analgesics, including acetaminophen and nonsteroidal anti-inflammatory drugs (NSAIDs), including ibuprofen and aspirin, which are often used for mild to moderate pain; and opioid analgesics, such as morphine and codeine, which are prescribed for moderate to severe pain. While non-opioid analgesics can also reduce inflammation and fever, opioid analgesics act directly on the central nervous system to alleviate pain. It's important to use analgesics responsibly, following a healthcare provider's guidance, as misuse can lead to side effects, dependency, or other health issues.
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Leading Key Players in the Analgesics Industry:
- Bayer AG
- Novartis AG
- GlaxoSmithKline PLC
- Pfizer Inc.
- Johnson & Johnson
- Reckitt Benckiser (RB)
- Endo Pharmaceuticals
- Bristol-Myers Squibb
- Eli Lilly and Company
- Sanofi
Analgesics Market Trends:
The increasing prevalence of chronic diseases such as arthritis, cardiovascular disorders, and cancer significantly is driving the global market. These conditions often result in persistent pain, necessitating long-term pain management solutions, thereby boosting the consumption of analgesics. Moreover, the global rise in geriatric population, more prone to musculoskeletal issues and other ailments associated with aging, further augments the market demand. This demographic shift is leading to an increase in the use of both prescription and over the counter (OTC) pain relief products. Technological advancements in drug development, coupled with a stronger focus on research and development (R&D) activities within the pharmaceutical sector, have led to the introduction of innovative products with fewer side effects and enhanced effectiveness. This progress is instrumental in driving the analgesics market forward. Additionally, the growing awareness and acceptance of pain management therapies among both healthcare professionals and patients play a pivotal role. The convenience of OTC analgesics also supports market growth, offering easy access to pain relief for minor ailments.
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Analgesics Market Report Segmentation:
By Type:
- Prescription
- Over the counter (OTC)
Prescription analgesics represented the largest segment due to the higher level of efficacy and potency offered by it compared to its over-the-counter (OTC) counterparts.
By Drug Class:
- Opioids
- NSAID
- Others
Opioids represented the largest segment due to the rising usage to manage pain
.
By Route of Administration:
- Oral
- Parenteral
- Topical
- Transdermal
- Rectal
Oral represented the largest segment due to its convenience and ease of use.
By Pain Type:
- Musculoskeletal
- Surgical and Trauma
- Cancer
- Neuropathic
- Migraine
- Obstetrical
- Fibromyalgia
- Pain due to Burns
- Dental/Facial
- Pediatric
- Others
Musculoskeletal pain represented the largest segment due to the growing geriatric population.
By Application:
- Internal
- External
On the basis of application, the market has been divided into internal and external. Internal application of analgesics is suitable for various pain types, including headaches, post-surgical pain, and systemic conditions. On the other hand, the external application of analgesics is effective for musculoskeletal pain, joint pain, and surface injuries.
Regional Insights:
- 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)
North America’s dominance in the market is due to growing healthcare infrastructure and rising healthcare expenditure.
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter's Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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