Dublin, May 28, 2024 (GLOBE NEWSWIRE) -- The "North America Analgesics Market Report by Type, Drug Class, Route of Administration, Pain Type, Application, and Country 2024-2032" report has been added to ResearchAndMarkets.com's offering.
North America analgesics market has displayed robust growth and is anticipated to further expand to US$ 31.9 Billion by the year 2032. The market's growth trajectory is estimated to follow a CAGR of 3.1% during the forecast period of 2023-2032. The growing geriatric population, coupled with an increased prevalence of various chronic conditions, is driving considerable demand for analgesic drugs within the region.
The upsurge in the market size is attributed to the escalating need for pain management therapies emanating from ongoing health issues among the aging population, particularly joint pain. The increasing incidences of osteoarthritis, cardiovascular diseases, and cancer have also significantly bolstered the demand for analgesics. The trend is further complemented by the growing number of surgical procedures and the penetration of effective pain management medications.
Consumer-Friendly Analgesic Forms
The North America analgesics market is experiencing a rise in demand, also due to the availability of analgesic drugs in various user-friendly forms, such as gels, creams, sprays, and oral tablets. Convenience of administration and variety in form factor are enhancing consumer accessibility and compliance with pain management regimens.
Market Segmentation
The comprehensive market report segments the analgesic industry by type, drug class, route of administration, and pain type, offering deep insights into each category. The report covers the significant regions of the United States, Canada, and Mexico, providing a granular analysis of country-specific market dynamics. Impact of COVID-19
The industry has also been impacted by the COVID-19 pandemic, which has influenced health care practices and consumer behavior. The complete analysis considers the upheavals caused by the pandemic and extends forecasts accordingly to provide a realistic picture of the market landscape.
Key Analytical Areas
The analysis meticulously discusses the value chain, key market drivers, challenges, competitive landscape, and the overall commercial structure. Furthermore, without endorsing any specific players, the report illuminates the degree of competition and profitability within the analgesics industry in North America.
This development in the North America analgesics market signifies the ongoing evolution of pain management therapies and represents a critical area of focus for healthcare providers, policymakers, and pharmaceutical companies aiming to address both acute and chronic pain needs of populations across the region. The growth also underscores the importance of continuous pharmaceutical innovation and access to effective pain relief solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 123 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $24.2 Billion |
| Forecasted Market Value (USD) by 2032 | $31.9 Billion |
| Compound Annual Growth Rate | 3.1% |
| Regions Covered | North America |
For more information about this report visit https://www.researchandmarkets.com/r/cg2trj
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