Analgesics market to Grow at 56.86% CAGR by 2030
The rising number of various acute and chronic diseases such as cancer, arthritis, and cardiovascular diseases drives the analgesics market growth.
According to a new research report by Next Move Strategy Consulting, the global analgesics market size was valued at USD 35.03 million in 2021 and is expected to reach USD 56.86 million by 2030, at a CAGR of 4.9% during the forecast period 2022–2030.
Analgesics have been witnessing rapid growth in sales due to the growing number of patients suffering from infectious diseases such as gastrointestinal disorders, respiratory problems, and neural disorders. Surge in these diseases boosts the demand for painkillers, which in turn drives the analgesics market growth. Furthermore, rising prevalence of cardiovascular diseases and cancer has also increased the demand for analgesics, especially opioid drugs.
On the contrary, factors such as drug abuse, growing use of biologics for the treatment of inflammatory pain, and stringent regulatory policies are hampering the analgesics industry to some extent. However, the analgesics industry will benefit from increased demand for personalized medicine and development of new pain-relieving drugs in the upcoming years.
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Browse key industry insights from the report in detail along with the table of contents:
“Analgesics Market by Type (Non-opioids and Opioids) and by Route of Administration (Oral, Intravenous, Rectal, Transdermal, and Topical) – Global Opportunity Analysis and Industry Forecast 2022-2030”
According to the report, the leading market players in the analgesics market include Abbott Laboratories, Bayer AG, Glaxosmithkline plc, Johnson and Johnson, Pfizer Inc, Novartis AG, Teva Pharmaceuticals, Sanofi SA, Abbie Inc., and Sun Pharma.
Key Insights from the Analgesics Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the analgesics market is provided in the report.
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
The market share of the players in the global analgesics market along with their competitive analysis is provided in the report.
Avail the full report here: https://www.nextmsc.com/report/analgesics-market
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.
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