Global Market Outlook on Analgesics Market: Emerging Trends and Opportunities in Pain Management

What is analgesic market?

Drug Class Insights. Based on drug class, the global analgesics market is divided into Opioids, NSAIDs, Local Anesthetics, and Acetaminophen. The opioids sector has the highest revenue share in the analgesics industry in 2022. The opioids segment will reach at a CAGR of 7.4% over the forecast period.

According to a new report published by Allied Market Research, titled, "Analgesics Market," The analgesics market size was valued at $26.7 billion in 2020, and is estimated to reach $50.7 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.

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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.

Key Findings of Study

This report offers a detailed quantitative analysis of the current & future market trends from 2021 to 2030 to identify the prevailing opportunities.

The market estimations provided in this report are based on comprehensive analysis of the key developments in the industry.

The global analgesics market is comprehensively analyzed with respect to types and geography.

In-depth analysis based on geography facilitates to analyze the regional trends to assist in strategic business planning.

The developmental strategies adopted by key manufacturers are enlisted in the report to understand the competitive scenario of the market.

Analgesics are typically used for pain relief and are classified into several segments including:

Non-steroidal anti-inflammatory drugs (NSAIDs)

Acetaminophen (paracetamol)

Opioids

Adjuvants (used in combination with other analgesics)

Each segment has specific indications and mechanisms of action, and it is important to consult with a healthcare professional to determine the best choice of analgesic for a given situation.

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North America garnered the major share in 2020-

By region, the market across North America had the lion's share in 2020, generating nearly one-third of the global analgesics market, owing to increase in demand for non-opioids drugs, presence of key players, and development in R&D activities in the healthcare sector in the province. The Asia-Pacific region, on the other hand, is projected to portray the fastest CAGR of 7.3% by 2030. This is due to rise in awareness about the use of analgesic drugs, growth in healthcare expenditures, and surge in adoption of analgesic products.

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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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