Covina, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Report Overview of Non-Steroidal Anti-Inflammatory Drugs Market:
Non-Steroidal Anti-Inflammatory Drugs, commonly known as NSAIDs, are a class of medications that provide pain relief, reduce inflammation, and lower fever. They are widely used to alleviate symptoms associated with various conditions, including arthritis, musculoskeletal disorders, headache, fever, and other forms of pain and inflammation.
Pros of Non-Steroidal Anti-Inflammatory Drugs: High-resolution medical imaging displays enable healthcare professionals to visualize and interpret medical images with exceptional clarity, leading to more accurate diagnoses.
Cons of Non-Steroidal Anti-Inflammatory Drugs: Maintaining the accuracy of medical imaging displays requires regular calibration and quality control, which can be time-consuming and add to the overall cost of ownership.
| Attributes | Details |
| Forecast period | 2020 – 2030 |
| Accounted in 2020 | US$ 16.4 billion |
| Estimated to be in 2030 | US$ 28.7 billion |
| CAGR | 6.0% |
Recent Key Highlights –
- In August 2021, Dr. Reddy’s re-launched NSAID over-the-counter (OTC) Naproxen Sodium Tablets USP, 220 mg, the store-brand equivalent of Bayer HealthCare’s Aleve, in the U.S. market. According to the business, which cited IRI figures, Naproxen Sodium Tablets USP, 220 mg, a nonsteroidal anti-inflammatory medication used as a fever reducer and pain reliever, had U.S. retail sales of almost $316 million.
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Market Dynamics:
The Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) Market is driven by rising demand due to the prevalence of chronic diseases and inflammatory conditions. The aging population and technological advancements in drug formulations also contribute to market growth. However, challenges arise from concerns about adverse effects, regulatory changes, and economic factors. Pharmaceutical companies' strategic initiatives, including research and collaborations, play a crucial role in shaping the market's dynamics, making it a complex yet evolving landscape.
Covid-19 Impact:
The COVID-19 pandemic had a notable impact on the Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) Market. NSAIDs gained attention for COVID-19 symptom management, but safety concerns emerged, altering prescribing patterns. Disruptions in the supply chain and healthcare services affected production and distribution. Lockdowns and economic challenges led to demand fluctuations. The pandemic accelerated digital health solutions, reshaping how NSAIDs were prescribed and accessed. Overall, COVID-19 significantly influenced both medical practices and patient behaviors in the NSAIDs Market.
Top Leading Players in the Non-Steroidal Anti-Inflammatory Drugs Market:
- GlaxoSmithKline plc
- Johnson a d Johnson services
- Pfizer Inc.
- Boehringer Ingelheim International GmbH,
- AstraZeneca
- Bayer AG
- Horizon Therapeutics plc
- Zyla Life Sciences
Segmentation-
- By Type- paracetamol, Ibuprofen, aspirin, Naproxen and others
- By disease indication– Arthritis, Migraine, Ophthalmic and others
- By route of administration- Oral and Parenteral
- By Application– hospital pharmacy, retail pharmacy and online pharmacy
By Geography-
- North America (U.S., Canada)
- Europe (UK, France, Germany, Russia, Italy, Rest of Europe)
- Asia Pacific (India, Japan, South Korea, China, Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (GCC, Israel, South Africa, Rest of Middle East)
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New Trends and Innovations in Non-Steroidal Anti-Inflammatory Drugs Market:
The Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) Market is experiencing exciting new trends and innovations. Companies are developing safer formulations, reducing gastrointestinal and cardiovascular risks. Personalized medicine is gaining traction, tailoring NSAID prescriptions based on individual patient profiles. Moreover, digital health technologies and telemedicine are revolutionizing patient access and monitoring. These advancements are reshaping the NSAIDs Market, offering enhanced efficacy, safety, and patient outcomes.
Top Report Findings:
- Market Value: The Non-Steroidal Anti-Inflammatory Drugs Market was valued at US$ 16.4 billion in 2020 and is projected to reach US$ 28.7 billion by 2030, growing at a CAGR of 6.0%.
- Driving Factors: Rising demand due to prevalent chronic diseases and technological advancements contribute to market growth.
- Challenges: Concerns about adverse effects, regulatory changes, and economic factors pose challenges to the market.
- COVID-19 Impact: The pandemic altered prescribing patterns, caused supply chain disruptions, and accelerated the adoption of digital health solutions.
- Segmentation: Non-Steroidal Anti-Inflammatory Drugs Market types include paracetamol, ibuprofen, aspirin, naproxen, and others. Disease indications cover arthritis, migraine, ophthalmic, and more. Routes of administration include oral and parenteral. Applications span hospital pharmacy, retail pharmacy, and online pharmacy.
- Key Players: Major companies in the Non-Steroidal Anti-Inflammatory Drugs Market include GlaxoSmithKline, Johnson & Johnson, Pfizer, and others.
- Trends: Industry trends include the development of safer formulations, personalized medicine based on patient profiles, and the integration of digital health technologies and telemedicine for enhanced patient outcomes.
Conclusion:
The Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) Market is poised for robust growth, driven by increasing demand and technological advancements. Despite challenges, including regulatory changes and adverse effects, the market is adapting and expanding. The COVID-19 pandemic accelerated the adoption of digital health solutions, further shaping the industry landscape. With ongoing innovations in formulations and personalized medicine, the NSAIDs Market is set to offer improved efficacy and patient outcomes, making it a promising sector in the healthcare industry.
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