Analgesics Market Competitive Landscape, Demand, Key Players, Business Opportunities and Forecast 2021-2030

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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Competitive Landscape

The analgesics market is consisting of various key players including Bayer AG, Novartis AG, GlaxoSmithKline PLC, Pfizer Inc., Johnson & Johnson, Reckitt Benckiser (RB), Endo Pharmaceuticals, Bristol-Myers Squibb, Eli Lilly and Company, and Sanofi. The market players have adopted various developmental strategies such as acquisition and product launch to strengthen their footprint in the market. For instance, in January 06, 2020 Novartis AG had announced that it has completed the acquisition of The Medical Company. This acquisition provided Novartis AG a new opportunity for the treatment of disability and cause of mortality with a vaccine approach.

In September 10, 2020 GlaxoSmithKline PLC launched new Advil Dual Action, which consist of two or more pain relieve ingredients such as ibuprofen and acetaminophen. It helps to cure pain in two ways. Ibuprofen work through the body to target the source of pain, while acetaminophen block the pain signals to reach the brain.

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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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