Analgesics Market is poised to grow at a CAGR of over 1.30% during the forecast period of (2020-2030)

Constant expansion of pain management linked with the growing prevalence of the acute & chronic disorders along with the growth in geriatric population are expected to drive the growth of analgesics industry during the forecast period of 2020-2030.

The Analgesics Market is expected to grow at the CAGR of 1.30% from 2020-2030, according to a new research report by Next Move Strategy Consulting.

Analgesics are also called as pain killers used for the treatment of different types of pain from disease, wounds & others. These consist of different types of opioids or non-opioids along with combination drugs for effective pain management. These drugs are used for the pain management caused due to the growing prevalence of various disorders such as cancer, arthritis & others.  

According to the report, there has been constant growth in pain management further contributed by the rapid growth in acute & chronic disorders. In addition, there has been constant expansion of analgesics application contributed by the rapid growth in over the counter drugs. Moreover, fast changing lifestyle along with surge in surgeries and other procedures has raised the demand for effective pain management which in turn drive the growth of analgesics market. ON the other hand, there has been increased inclination towards combination drugs with anti-inflammatory properties to enhance the healing tends to bring change in market trends in the near future.

However, stringent regulatory policy along with the surge in drug abuse is likely to hamper the market growth. Moreover, surge in research & development activities as well as growing investments in the market is anticipated to provide numerous opportunities to the market in the coming few years.

On the basis of types, the analgesics market share is segmented into prescription analgesics and OTC analgesics. OTC analgesics dominates the global analgesics market and will be the dominant during the forecasted period.

On the basis of drug class, the analgesics market is categorised into opioids, nsaid, and others. Opioids segment accounts show the lucrative growth as well as dominates the market growth over the forecast period.

Based on route of administration, the market is classified into oral, parenteral, topical, transdermal, and rectal. Oral segments accounts for the major market share along with the significant CAGR over the forecast period.

Based on pain type, the market is fragmented into musculoskeletal pain, surgical and trauma pain, cancer pain, neuropathic pain, migraine, obstetrical pain, fibromyalgia, pain due to burns, dental/facial pain, paediatric pain, and others. Surgical & trauma pain accounts for the maximum market share and dominate the market growth over the forecast period.

On the basis of application, the market is categorized into internal analgesics and external analgesics. Internal analgesics hold the major market share and dominate the market over the forecast period.

North America is likely to account for the highest market size & share of the analgesics market in the forecast period 2020–2030 owing to the rapid growth in pain management along with the well-developed healthcare facilities as well as infrastructure. Europe accounts for the second leading position in the analgesics market size. Asia Pacific is expected to be the fastest developing region in the analgesics market which is majorly driven by the rising prevalence of chronic disorders along with surge in surgical procedures.

According to the report, some the key players in the analgesics market are Novartis AG, GlaxoSmithKline PLC, Bayer AG, Johnson & Johnson, Pfizer Inc., Endo Pharmaceuticals, Reckitt Benckiser (RB), Eli Lilly and Company, Bristol-Myers Squibb, and Sanofi S.A.

Browse key industry insights from the report at https://www.nextmsc.com/report/analgesics-market in detail along with the table of contents:

Key Insights from the Analgesics Market Report:

  • Asia Pacific is the fastest growing Analgesics market owing to the rising prevalence of chronic disorders as well as growth in OTC drugs further supported by the surge in surgical procedures.
  • The internal analgesics dominate the segment and are expected to grow at significant CAGR to maintain the led in 2030.
  • Some of the major players in the market are Novartis AG, GlaxoSmithKline PLC, Bayer AG, Johnson & Johnson, Pfizer Inc., Endo Pharmaceuticals, Reckitt Benckiser (RB), Eli Lilly and Company, Bristol-Myers Squibb, and Sanofi S.A.

The report Analgesics market – segmented by type, drug class, route of administration, pain type, application and geography

Get a free sample on the Analgesics Market reports

About Next Move Strategy Consulting

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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