Analgesics Market 2021 Comprehensive Strategic Report – Novartis AG, Glaxo Smith Kline PLC, Bayer AG

The Global Analgesics Market was valued at USD 25.44 billion in 2019 and is predicted to reach 29.58 billion by 2030 with a CAGR of 1.30% from 2020-2030.

Analgesics, also known as painkillers, are drugs used to treat and reduce severe pain in the body without causing the loss of consciousness. These drugs include nonsteroidal anti-inflammatory drugs (NSAIDs) such as naproxen, paracetamol, tylenol and opioid drugs such as morphine. By relieving pain, analgesics drugs help people to perform daily works and maintain the level of activity required for good health.

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Top Companies: Bayer AG, Novartis AG, GlaxoSmithKline PLC, Pfizer Inc., Johnson & Johnson, Reckitt Benckiser (RB), Endo Pharmaceuticals, Bristol-Myers Squibb, Eli Lilly and Company, and Sanofi.

Market Dynamics and Trends

The major factor propelling the growth of analgesics market is the rising number of various acute and chronic diseases such as cancer, arthritis and cardiovascular diseases. According to Globocan 2020 report, published by International Agency for Research on Cancer (IARC), cancer cases across the globe has risen to 19.3 million, which in turn drives the growth of analgesics market. Besides, increasing geriatric population has also increased the demand of analgesics drugs as pain and aches are mostly experienced by aging population. Moreover, large scale investment in R&D activities for developing new therapeutics, availability of effective treatment options and rising adoption of analgesics among different age groups also expected to fuel the growth of analgesics market throughout the forecast period.

However, factors such as drug abuse, growing use of biologics for the treatment of inflammatory pain and stringent regulatory policies are hampering the market growth to some extent. Also, various side effects related to consumption of analgesics drugs such as constipation, skin rashes, drowsiness and dry mouth are restraining the market growth. On the contrary, increasing demand of personalized medicine and development of new pain relieve drugs are expected to create significant growth opportunities for the market players.

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Market Segmentations and Scope of the Study:

The global analgesics market is segmented on the basis of type, route of administration and geography. On the basis of type, the market is categorized into opioids and non-opioids. On the basis of route of administration, the market is classified into oral, intravenous, rectal, transdermal, and topical. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the lion share of global analgesics market. This is attributed to factors such as growing burden of pain management and rising adoption of opioids. In addition, factors such as increasing prevalence of cancer, surging number of surgeries and rising R&D activities in pharmaceutical sector are also expected to fuel the market growth in this region.

However, Asia Pacific region is expected to witness the highest growth rate during the forecast period. The growth is most likely to be fueled by the development in healthcare sector, rising prevalence of self-medication instead of visiting a doctor, especially in developing countries and stressful lifestyle in urban areas. Also, factors such as surging number of chronic diseases and rising geriatric population are boosting the market growth in this region.

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