2025-2034 Analgesics Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Analgesics Market Through 2025?
The size of the analgesics market has seen a consistent expansion in the past few years. It is projected to expand from $110.47 billion in 2024 to $113.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 2.4%. This growth during the historical period has been influenced by factors such as the effect of alternative therapies, studies on safety and efficacy, the prevalence of pain, marketing and promotion strategies, and economic conditions.

What's the Projected Size of the Global Analgesics Market by 2029?
In the upcoming years, a stable expansion is anticipated for the analgesics market, with its size predicted to reach $127.81 billion in 2029, growing at a compound annual growth rate (CAGR) of 3.1%. This growth during the forecast time frame is likely due to factors such as alternative pain management options, market rivalry, increased public health awareness, demographic changes, and the increasing prevalence of chronic diseases. Significant trends projected during this period include personalised medicine, non-opioid substitutes, the use of CB*D and cannabinoids, targeted pain relief strategies, and increased accessibility and affordability.

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Top Growth Drivers in the Analgesics Industry: What's Accelerating the Market?
The increase in chronic diseases is fueling the growth of the analgesics market. Painkillers, also known as analgesics, are commonly used to alleviate severe or chronic pain caused by various health conditions. As per a report by the Switzerland-based World Health Organization (WHO) in September 2022, chronic diseases, often known as noncommunicable diseases (NCDs), develop over a long period due to a mix of genetic, physiological, environmental, and behavioral factors. With 74% of all worldwide deaths making up to 41 million fatalities annually, these diseases play a significant role. Moreover, annually, 17 million people lose their lives before reaching 70 due to NCDs, constituting 86% of the mortality in low- and middle-income countries. Additionally, 77% of deaths due to NCDs occur in these countries. Therefore, the escalating prevalence of chronic diseases propels the growth of the analgesics market.

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What Are the Key Trends Driving Analgesics Market Growth?
Growth strategy in the analgesics market is increasingly being driven by investments from companies. Top manufacturers of analgesic drugs are investing in clinical-stage firms to secure a competitive edge and reinforce their hold in the market. Such investments aid these companies in expanding their operations across diverse regions and acquiring specialized knowledge for the research and development of new products. For example, in January 2022, the US-based clinical-stage biopharmaceutical corporation, Concentric Analgesics, Inc., reported the finalization of a $20 million convertible note financing from both new and ongoing investors. This funding will go towards initiating registration-permitting Phase 3 trials for Vocacapsaicin, the company's Phase 3-prepared primary product candidate. Furthermore, this funding will support the Phase 3 development efforts for Vocacapsaicin, Concentric Analgesics' primary treatment candidate for post-surgery pain. The finalization of this funding is a significant milestone for Concentric Analgesics as it allows for the continued progression of Vocacapsaicin into Phase 3 development and marks a crucial initial step towards fully financing the program through NDA submission.

What Are the Main Segments in the Analgesics Market?
The analgesics market covered in this report is segmented -

1) By Type: Non-opioids, Opioids
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Drug Stores
3) By Application: Internal Analgesics, External Analgesics

Subsegments:
1) By Non-Opioids: Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Acetaminophen (Paracetamol), Salicylates
2) By Opioids: Natural Opioids, Semi-Synthetic Opioids, Synthetic Opioids

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Which Top Companies are Driving Growth in the Analgesics Market?
Major companies operating in the analgesics market include Pfizer Inc., Johnson & Johnson Services Inc., Medley Pharmaceuticals Limited, AbbVie Inc., Bayer HealthCare Pharmaceuticals LLC, Novartis International AG, Sanofi SA, Bristol-Myers Squibb Co., AstraZeneca Plc., Abbott Laboratories, GlaxoSmithKline plc, Takeda Pharmaceutical company Limited, Eli Lilly and Company, Reckitt Benckiser Group plc, Viatris Inc., Teva Pharmaceuticals Industries Ltd., Sun Pharmaceutical Industries Limited, Purdue Pharma L.P, Cipla Limited, Allergan Inc., Endo International plc, Amneal Pharmaceuticals LLC, Mallinckrodt Pharmaceuticals Ltd., Chattem Inc., Hisamitsu Pharmaceutical Co.Inc., GW Pharmaceuticals, Verve Health Care Ltd., Alder BioPharmaceuticals Inc., Achelios Therapeutics Inc., WEX Pharmaceuticals Inc., Zynerba Pharmaceuticals, McNeil Consumer & Specialty Medical Products, Innovative Med Concepts LLC

Which Regions Will Dominate the Analgesics Market Through 2029?
North America was the largest region in the analgesics market in 2024. Middle East is expected to be the fastest-growing region in the global analgesics market during the forecast period. The regions covered in the analgesics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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