Analgesics Market Size, Trends Rising Advancement in Technology & Data Standardization Drive the Growth 2030

What is the most used analgesic?

Simple non-opioid analgesics are the most common type of analgesic. The most common of these is paracetamol. Paracetamol is available over the counter and is widely used as a painkiller for mild to moderate pain, for example following a minor injury, and for headaches and muscular pains.

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Frequent pain and aches experienced by the ageing population, increasing incidences of cardiovascular disease (CVD), cancer, & arthritis, and rising investments in R&D by the public & private sectors, with key focus on the classes of compounds to formulate new therapeutics, are the major factors boosting the market growth. However, factors such as uncontrolled prescriptions of opioids and drug abuse, leading to approximately 28,000 deaths in the U.S. every year, and insufficient regulatory guidelines, especially against opioid analgesics, are likely to impede the market growth. Furthermore, the increase in popularity of personalized medicine is expected to provide numerous growth opportunities for the analgesics market in the near future.

Alarming rise in prevalence of chronic diseases, such as cancer, cardiovascular diseases, and arthritis, advancements in pharmaceutical industry for manufacturing of analgesics drugs, and rise in geriatric population are expected to notably contribute toward growth of the global analgesics market during the forecast period.

Drivers, restraints, and opportunities-

Surge in incidences of chronic diseases such as tuberculosis (TB), cancer, cardiovascular diseases, and arthritis drives the growth of the global analgesics market. At the same time, rise in number of clinical studies for evaluating the safety and efficiency of a wide range of therapeutic drugs has supplemented the market growth yet more. However, technological development in the pharmaceutical industry to manufacture advanced analgesic drugs is expected to provide lucrative opportunities in the industry.

Covid-19 scenario-

The outbreak of the pandemic gave way to increasing demand for analgesic drugs such as paracetamol, thereby impacting the global analgesics market positively.

This trend is pretty likely to continue till the pandemic is completely over.

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The COVID-19 outbreak is anticipated to have a positive impact on growth of the global analgesics market share. The COVID-19 pandemic has stressed healthcare systems in the world and increased the need for advanced hospitals. Implementation of the spread of COVID-19 infection increased the demand for analgesic drug such as paracetamol, and drive the growth of the market.

Key players in the industry-

Novartis AG
Eli Lily and Company
Glaxosmithkline PLC
Pfizer Inc.
Sanofi
Bayer AG
Johnson & Johnson
Bristol Myer's Squibb
Reckitt Benckiser
Endo Pharmaceuticals

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