Austin, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Analgesics Market Size Analysis
“According to SNS Insider, The global Analgesics Market size was valued at USD 47.32 billion in 2023 and is projected to reach USD 75.73 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.39% over the forecast period 2024-2032.”
This market growth is attributed to factors such as the increasing prevalence of chronic pain conditions, the rising demand for over-the-counter pain relief products, and the growing trend of self-medication, especially in developed economies.
Market Overview
The analgesics market is witnessing steady growth driven by the growing demand for effective pain management solutions across various patient demographics. Pain management solutions such as non-opioid analgesics, including NSAIDs and acetaminophen, continue to dominate the market due to their accessibility and relatively low cost. Chronic pain, often associated with conditions like arthritis, back pain, and neuropathic pain, remains a leading factor driving the demand for pain relief medications.
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In recent years, there has been a noticeable shift toward non-opioid analgesics, fueled by growing awareness of the potential risks and side effects associated with opioid medications. The increasing focus on the safe management of pain, coupled with the rise in the geriatric population, is expected to bolster the market further. Additionally, the increasing adoption of online pharmacies and e-commerce platforms is further enhancing access to pain management solutions, thus expanding the market reach globally.
Demand for combination analgesics and the growing preference for transdermal administration, especially for chronic pain conditions, are key trends supporting market expansion. As a result, both pharmaceutical companies and research institutions are investing in novel analgesic formulations and delivery methods to meet the rising demand.
Major Players Analysis Listed in this Report are:
- Bayer AG
- Endo International plc
- Assertio Holdings Inc.
- Janssen Global Services LLC
- GSK plc
- AbbVie Inc.
- Novartis AG
- Viatris Inc.
- Teva Pharmaceutical Industries Ltd.
- F. Hoffmann-La Roche Ltd.
- Sanofi
- Pfizer Inc.
- Merck & Co. Inc.
- AstraZeneca
- Johnson & Johnson Services Inc.
- Hikma Pharmaceuticals PLC
- Dr. Reddy’s Laboratories Ltd.
- Lupin
- Fresenius Kabi AG
- Aurobindo Pharma
- Cipla
- Bausch Health Companies Inc.
- Amneal Pharmaceuticals LLC
- Apotex Inc.
- Lilly
Analgesics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 47.32 billion |
| Market Size by 2032 | US$ 75.73 billion |
| CAGR | CAGR of 5.39% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
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Segment Analysis
By Type
In 2023, non-opioid analgesics dominated the market, accounting for approximately 65.0% of the market share. This dominance is primarily driven by the widespread use of non-opioid analgesics like NSAIDs (ibuprofen, aspirin) and acetaminophen, which are frequently used to treat mild to moderate pain conditions, such as headaches, arthritis, and muscle pain. The preference for these drugs stems from their accessibility, affordability, and relatively low risk compared to opioids. With increasing awareness about the adverse effects of opioids, non-opioid analgesics continue to be the most favored choice for pain relief.
By Route of Administration
The oral route of administration dominated the market in 2023, holding an estimated 75.0% market share. Oral analgesics, in the form of tablets and capsules, are the most commonly used pain relief methods. Their popularity is attributed to their ease of use, convenience, and the widespread availability of over-the-counter (OTC) analgesics in pharmacies. With consumers increasingly preferring self-medication for minor pain relief, oral analgesics continue to be the go-to choice.
By Distribution Channel
In 2023, retail pharmacies accounted for 45.0% of the market share, maintaining their dominance in the distribution of analgesics. This dominance is due to the high availability of OTC products and the convenience of in-person purchases. Consumers regularly visit retail pharmacies for quick and easy access to pain relief solutions.
Analgesics Market Key Segmentation:
By Drug Type
- Opioids
- Non-opioids
- Compound medication
By Route of Administration
- Oral
- Transdermal
- Parenteral
- Others
By Distribution Channel
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
By Application
- Musculoskeletal
- Migraine
- Neuropathic
- Obstetrical
- Surgical and Trauma
- Cancer
- Fibromyalgia
- Pain due to Burns
- Dental/Facial
- Pediatric
- Others
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Recent Developments
- Dec 2024: Researchers from UFGD, UFMS, Unicamp, and Unesp discovered that compounds found in custard apple (Annona squamosa) leaves, including palmatine, possess analgesic, anti-inflammatory, anti-hyperalgesic, and anti-arthritic properties. This breakthrough could lead to the development of new therapeutic options for pain management, particularly for those seeking natural and plant-based alternatives.
- July 2024: Concentric Analgesics announced the peer-reviewed publication of positive Phase 2 clinical data for Vocacapsaicin, a new investigational therapy for postsurgical pain relief. Vocacapsaicin is the first therapy to demonstrate over seven days of effective pain relief, reducing the need for opioids. The company is now preparing for Phase 3 trials to advance this promising treatment.
Regional Analysis
North America accounted for the largest share of the global analgesics market in 2023. The United States is a major contributor to this market share due to the high incidence of chronic pain conditions and the availability of a wide range of pain management products, including prescription and over-the-counter analgesics. The region's significant market share is further supported by the growing healthcare infrastructure, high consumer awareness, and the increasing preference for non-opioid analgesics.
Europe is expected to be stable, with a growth rate that is being fueled by the geriatric population and the increasing healthcare expenditure. The market in this region is shifting towards more non-opioid pain management solutions, especially as regulatory bodies impose stricter controls on opioid usage.
Asia-Pacific is rapidly growing driven by high growth of urbanization, expanding the middle class, and improving healthcare access. Countries, including China and India, show a significant demand both in over-the-counter as well as prescription analgesics. The region also profits from healthcare technology advancements with an emphasis on enhancing services for treating pain. Further, development in the area of online pharmacies is influencing growth.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Analgesics Market Segmentation, by Drug Type
8. Analgesics Market Segmentation, by Route of Administration
9. Analgesics Market Segmentation, by Distribution Channel
10. Analgesics Market Segmentation, by Application
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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