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Non-Steroidal Anti-Inflammatory Drugs Market 2033: Size, Share, Growth, and Forecast
Non-Steroidal Anti-inflammatory Drugs Global Market Report 2024
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According to The Business Research Company's, The non-steroidal anti-inflammatory drugs market size has grown strongly in recent years. It will grow from $19.56 billion in 2023 to $20.93 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to chronic inflammatory diseases, postoperative pain management, sports injuries, over-the-counter availability, aging population, consumer awareness.
The non-steroidal anti-inflammatory drugs market size is expected to see strong growth in the next few years. It will grow to $27.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to emerging pain management therapies, regulatory changes, telehealth utilization, global wellness trends, biosimilar competition, patient preferences, precision medicine approaches. Major trends in the forecast period include over-the-counter (otc) market dominance, rising preference for cox-2 inhibitors, generics and market competition, integration of digital health technologies, integration of digital health technologies.
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Market Drivers and Trends:
The increasing prevalence of musculoskeletal disorders are expected to propel the growth of non-steroidal anti-inflammatory drugs market going forward. Musculoskeletal disorders (MSDs) refer to a broad category of conditions that affect the musculoskeletal system, which includes the muscles, bones, tendons, ligaments, joints, and other connective tissues. Non-steroidal anti-inflammatory drugs (NSAIDs) play a crucial role in managing pain and inflammation associated with conditions like arthritis, osteoarthritis, and rheumatoid arthritis. Factors contributing to this growth include the aging population, increased awareness and diagnosis of musculoskeletal disorders, orthopedic procedures, sports injuries, and the chronic nature of these conditions. For instance, in December 2022, according to the musculoskeletal conditions profiled by GOV.UK, a UK-based public sector information website. in 2022, 17.6% of UK individuals aged 16 and older reported having a long-term musculoskeletal (MSK) condition, such as arthritis or a persistent issue with their back or joints. This was a rise from the 17.0% prevalence reported in 2021. Therefore, the increase in the increasing prevalence of musculoskeletal disorders are driving the growth of the non-steroidal anti-inflammatory drugs market.
Product innovation is a key trend in the non-steroidal anti-inflammatory drugs market. Major companies operating in the non-steroidal anti-inflammatory drugs market are concentrating on creating new technology solutions. For instance, in May 2021, Ono and Seikagaku, a Japan-based company operating in non-steroidal anti-inflammatory drugs, launched JOYCLU, a 30 mg intra-articular injection. It is a formulation that uses Seikagaku's proprietary technology to chemically bind hyaluronic acid with diclofenac (an anti-inflammatory medication). It is intended to release diclofenac in the joint via hydrolysis, is licenced for the treatment of osteoarthritis, and is predicted to relieve symptoms after a four-week intra-articular injection. It is administered directly into the joint cavity as an injection, resulting in low systemic exposure to diclofenac and a low risk of a systemic adverse drug reaction. It is the first ethical drug in Japan with the indication of osteoarthritis of the hip joint among joint function improvement agents.
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Major Key Players of the Market:
Pfizer Inc., Bayer AG, Johnson & Johnson, Sun Pharmaceutical Industries Ltd., Assertio Therapeutics Inc., Iroko Pharmaceuticals Inc., Reckitt Benckiser Group plc, Perrigo Company plc, Hikma Pharmaceuticals Public Limited Company, Glenmark Pharmaceuticals Limited, Septodont, Aspen Pharmacare Holdings Limited, Sagent Pharmaceuticals Inc., Advanced Pharma Inc., Akorn Operating Company LLC, Alembic Pharmaceuticals Limited, Torrent Pharmaceuticals Limited, Lupin Limited, Cipla Limited, Zydus Cadila Healthcare Limited, Aurobindo Pharma Limited, Sanofi S.A., GlaxoSmithKline plc, Horizon Therapeutics plc, Zyla Life sciences, Novartis AG, Roche Holding AG, AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company
Non-Steroidal Anti-inflammatory Drugs Market 2024 Key Insights:
• The non-steroidal anti-inflammatory drugs market size is expected to see strong growth in the next few years. It will grow to $27.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Rising Prevalence Of Chronic Pain To Drive Market Growth
• Product Innovations Transforming The Non-Steroidal Anti-Inflammatory Drugs Market
• North America was the largest region in the non-steroidal anti-inflammatory drugs market in 2023
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