Dublin, April 18, 2023 (GLOBE NEWSWIRE) -- The "Analgesics - Market Insights, Competitive Landscape, and Market Forecast - 2027" report has been added to ResearchAndMarkets.com's offering.
The global analgesics market was valued at USD 30,599 million in 2021, growing at a CAGR of 6.84% during the forecast period from 2022 to 2027 to reach USD 45,389 million by 2027, owing to the increasing prevalence of orthopedic, cancer, and other chronic diseases and rising demand of analgesics for the treatment of mild to moderate pain.
The analgesics market is slated to witness prosperity owing to the increasing prevalence of orthopedic, cancer, and other chronic diseases, the rising demand for analgesics for the treatment of mild to moderate pain, the growing burden of the geriatric population, and the growing focus on improving the safety, efficacy, and usability of analgesics for people are further expected to result in the appreciable revenue growth in the analgesics market during 2022-2027.
Analgesics Market Dynamics:
According to the World Health Organization (WHO) 2022, globally nearly 2.26 million cases of breast cancer, 2.21 million cases of lung cancer, 1.93 million cases of colon and rectum cancer, 1.41 million cases of prostate cancer, and 1.09 million cases of stomach cancer were reported in 2020.
The rising prevalence of orthopedic diseases such as osteoarthritis, rheumatoid arthritis, and others is another important driver for the analgesics market. According to World Health Organization (WHO) 2022, musculoskeletal conditions are the leading contributor to disability and worldwide around 1.71 billion people are suffering from musculoskeletal diseases such as osteoporosis, osteoarthritis, rheumatoid arthritis, and others. According to WHO 2022, worldwide around 528 million people suffered from osteoarthritis in 2019. As per the same source, worldwide 18 million people had rheumatoid arthritis in 2019.
Osteoarthritis often referred to as degenerative or wear-and-tear arthritis affects the joints and eventually causes the smooth cartilage on the surface of the bones to wear away. Patients face significant pain, edema, and joint inflammation which limits their ability to move freely. Analgesics are thereby taken to treat the pain.
Additionally, the rising demand for analgesics for the treatment of mild to moderate pain such as in the case of toothache, headache, pain due to strenuous physical activity, period pain, and others is another factor accelerating the growth of the analgesics market.
However, growing concern over opioid abuse and stringent regulatory policies may act as a restraint in the market growth for analgesics.
North America is expected to dominate the overall Analgesics Market:
Among all the regions, North America is expected to lead in revenue generation in the global analgesics market. This can be due to factors including the prevalence of chronic and infectious diseases such as orthopedic, cardiovascular, tuberculosis, and cancer among others, the increasing old age population, and the presence of key companies involved in the development of analgesics, and others.
The rising prevalence of arthritis in the US is the major factor responsible for the growth of the analgesics market in the region. As per the Centers for Disease Control and Prevention (CDC) 2021, it has been estimated that there will be around 78.4 million people suffering from doctor-diagnosed arthritis by 2040, and out of that two-thirds will be the women population.
Analgesics Market Key Players:
- Novartis AG
- Pfizer Inc.
- Bayer AG
- AbbVie Inc.
- Bristol-Myers Squibb Company
- Endo Pharmaceuticals
- Teva Pharmaceutical Industries Ltd.
- Sanofi
- Assertio Holdings, Inc.
- Janssen Pharmaceuticals, Inc.
- GSK plc.
- Perrigo Company plc.
- Mallinckrodt
- Purdue Pharma L.P.
- Abbott
- Reckitt Benckiser Group PLC.
- Fresenius Kabi USA
- Lilly
- Hikma Pharmaceuticals PLC
- Heron Therapeutics, Inc
Key Topics Covered:
1. Analgesics Market Report Introduction
2. Analgesics Market Executive Summary
2.1. Scope of the Study
2.2. Market at Glance
2.3. Competitive Assessment
3. Analgesics Market Key Factors Analysis
3.1. Analgesics Market Drivers
3.1.1. The increasing prevalence of orthopedic, cancer, and other chronic diseases
3.1.2. Rising demand for analgesics for the treatment of mild to moderate pain
3.1.3. The growing burden of the geriatric population
3.2. Analgesics Market Restraints and Challenges
3.2.1. Growing concern over opioids abuse and opioid tolerance
3.2.2. Increasing adoption of biologics for pain management
3.3. Analgesics Market Opportunities
3.3.1. Surging strategic activities such as acquisitions, partnerships, r&d, and others
3.3.2. Government initiatives to spur pharmaceutical sector growth
4. Analgesics Market Porter's Five Forces Analysis
4.1. Bargaining Power of Suppliers
4.2. Bargaining Power of Consumers
4.3. Threat of New Entrants
4.4. Threat of Substitutes
4.5. Competitive Rivalry
5. COVID-19 Impact Analysis on Analgesics Market
6. Analgesics Market Layout
6.1. By Product Type
6.1.1. Opioids
6.1.2. Non-Opioids
6.2. By Application
6.2.1. Musculoskeletal
6.2.2. Surgery and Trauma
6.2.3. Cancer
6.2.4. Others
6.3. By Drug Type
6.3.1. Prescription
6.3.2. Over The Counter (OTC)
6.4. By Distribution Channels
6.4.1. Hospital and Retail Pharmacy
6.4.2. E-commerce
6.5. By Geography
6.5.1. North America
6.5.1.1. United States Analgesics Market in USD million (2019-2027)
6.5.1.2. Canada Analgesics Market in USD million (2019-2027)
6.5.1.3. Mexico Analgesics Market in USD million (2019-2027)
6.5.2. Europe
6.5.2.1. France Analgesics Market in USD million (2019-2027)
6.5.2.2. Germany Analgesics Market in USD million (2019-2027)
6.5.2.3. United Kingdom Analgesics Market in USD million (2019-2027)
6.5.2.4. Italy Analgesics Market in USD million (2019-2027)
6.5.2.5. Spain Analgesics Market in USD million (2019-2027)
6.5.2.6. Rest of Europe Analgesics Market in USD million (2019-2027)
6.5.3. Asia-Pacific
6.5.3.1. China Analgesics Market in USD million (2019-2027)
6.5.3.2. Japan Analgesics Market in USD million (2019-2027)
6.5.3.3. India Analgesics Market in USD million (2019-2027)
6.5.3.4. Australia Analgesics Market in USD million (2019-2027)
6.5.3.5. South Korea Analgesics Market in USD million (2019-2027)
6.5.3.6. Rest of the Asia Pacific Analgesics Market in USD million (2019-2027)
6.5.4. Rest of the World (RoW)
6.5.4.1. Middle East Analgesics Market in USD million (2019-2027)
6.5.4.2. Africa Analgesics Market in USD million (2019-2027)
6.5.4.3. South America Analgesics Market in USD million (2019-2027)
7. Analgesics Market Company and Product Profiles
7.1. Company Overview
7.2. Company Snapshot
7.3. Financial Overview
7.4. Product Listing
7.5. Entropy
For more information about this report visit https://www.researchandmarkets.com/r/z5p54b
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
