Analgesics Market Value is Expected to Reach $91 Billion by 2023 | Covid 19 Implications and Growth | TBRC Reports

The Business Research Company offers "Analgesics Global Market Report 2020-30: Covid 19 Implications And Growth" in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market’s historic and forecast growth, and highlights important trends and strategies that players in the market can adopt.

The global analgesics market is expected to grow from $68.2 billion in 2019 to $78.1 billion in 2020 at a compound annual growth rate (CAGR) of 14.7%. This growth is mainly due to the COVID-19 outbreak and the neuroinvasive nature of the virus. The CNS is more prone to the viral infection. The virus affects the senses of smell and taste and therefore it is important to curb the interaction between the viral protein and the human receptor, and this factor is driving the demand for CNS drugs. The market is then expected to grow at a CAGR of 5.5% from 2021 and reach $91 billion in 2023.

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The analgesics or analgesic drugs market consists of sales of analgesic drugs and related services. Analgesic drugs include opioids, non-steroidal anti-inflammatory drugs (NSAIDs), local anesthetics and Acetaminophen. These drugs can be administrated orally, intravenous, rectal, transdermal or topical. Analgesics drugs are generally distributed by channels including hospital pharmacies, retail pharmacies, drug stores or clinics. Analgesics also known as pain killers are used to treat mild or severe pain, including musculoskeletal pain, surgical, trauma pain, cancer pain or other type of pains. Examples of analgesics includes codeine, hydrocodone, oxycodone and methadone.

The growth of analgesics market is restricted by the increasing use of biologics for the treatment of inflammatory and neuropathic pain. Biologics are drugs produced from living organisms and include a number of components derived from human, animals or microorganisms. These drugs may contain protein, modified human hormones, or cells that produce substances that suppress or activate parts of the immune system. Biologics can provide greater efficacy compared to analgesics, which provide effective pain relief to only 50% of the patients, and is thus widely used nowadays. Rising demand for biologics can adversely impact the growth of the Analgesics market. In 2017, Pfizer and Lilly were granted approval by the FDA for developing Tanezumab, a biologics medicine.

Analgesics Market Segmentation: -
By Type
Non-opioids
Opioids

By Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Drug Stores

By Route of Administration
Oral
Intravenous
Rectal
Transdermal
Topical
By Drug Type
Prescription Analgesics
OTC Analgesics

By Drug Type
Internal Analgesics
External Analgesics

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Few Points From Table Of Content
1. Executive Summary
2. Analgesics Market Characteristics
3. Analgesics Market Size And Growth
4. Analgesics Market Segmentation
5. Analgesics Market Regional And Country Analysis
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25. Analgesics Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Analgesics Market
27. Analgesics Market Trends And Strategies
28. Product Pipeline Analysis
29. Analgesics Market Future Outlook and Potential Analysis
30. Appendix

The report covers the trends and market dynamics of the Analgesics Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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Some of the key players involved in the Analgesics Market are Bayer Healthcare, Pfizer, Sanofi Financial, Johnson & Johnson, Novartis AG.

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

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