Global Analgesics Market is expected to garner $26.4 billion by 2022, registering a CAGR of 7.1% during the forecast period 2015-2022.
Analgesics, also known as painkillers, are used to treat and reduce pain in the body. Typically, they are used when the pain is severe and becomes unbearable for the patient. Non-opioids, opioids, and compound analgesics (a combination of both opioids and non-opioids) are the major topical analgesic products used globally. The emergence of pain relief, pain management and painkillers are mainly attributed to the increase in acute and chronic diseases, as well as the rising incidence of cancer worldwide.
Opioid drugs are the strongest types of painkillers, which are derived from opium. They are chiefly used for the treatment of moderate to severe pain and are mostly available through prescription. On the other hand, non-opioid drugs are not derived from opium but include acetaminophen. They also include non-steroidal anti-inflammatory drugs (NSAIDs) and are majorly used for the treatment of mild to moderate pain. In addition, non-opioid drugs are sometimes used alongside stronger painkillers. They are mostly available over-the-counter (OTC); however, some NSAIDs, such as Celebrex, Cataflam, and Motrin, are available through prescription only. Different type of pain such as phantom, neuropathic pain and cancer pain would encourage drug discovery. Pain including inflammatory pain, surgical pain, physiologic pain and wound care pain would contribute to the growing demand for analgesics drugs.
The global analgesics market is expected to achieve moderate growth in the near future, majorly because of factors such as increas e in cardiovascular disease, cancer, and arthritis and growing geriatric population. Recurring pain and aches experienced by the ageing population is another factor the helps the market growth. In addition, increasing investments in R&D by the public and private sector, with key emphasis on the classes of compounds for formulating new therapeutics, are further expected to drive the analgesics industry. However, factors such as uncontrolled prescription of opioids, drug abuse, and unregulated government policies are likely to restrain the growth of the global analgesics market.
The report segments the analgesics market on the basis of type, route of administration, and geography. On the basis of type, the market is segmented into non-opioids and opioids. According to the route of administration, it is segmented into oral, intravenous, rectal, transdermal, and topical. Based on the geography, it is categorized into North America, Europe, Asia-Pacific, and LAMEA.
Companies adopt acquisition as their key development strategy in the analgesics industry to increase their market share. A comprehensive competitive analysis and profiles of major market players, such as Bayer AG, Novartis AG, GlaxoSmithKline PLC, Pfizer Inc., Johnson & Johnson, Reckitt Benckiser (RB), Endo Pharmaceuticals, Bristol-Myers Squibb, Eli Lilly and Company, and Sanofi, are provided in this report.
ANALGESICS MARKETKEY BENEFITS:
- This report includes a detailed quantitative analysis of the current trends, size and forecasts from 2015 to 2022, which assists in identifying the prevailing market opportunities.
- Geographically, the analgesics market is analyzed based on key regions such as North America, Europe, Asia-Pacific, and LAMEA.
- This study evaluates the competitive landscape of the analgesics industry to aid the reader in understanding the competitive environment across the geographic locations.
- Furthermore, key market players have been profiled in this report and their strategies are analyzed thoroughly. This helps in understanding the competitive outlook on the supply side of the market.
- Competitive intelligence highlights the business practices followed by leading industry players across various geographic regions.
- Porters Five Forces analysis extensively covers the perspective of buyers and suppliers, along with the competitive rivalry among companies.
- SWOT analysis enables to study the internal environment of the leading companies for strategy formulation.
ANALGESICS MARKET KEY SEGMENTS:
By Route of Administration
- North America
- Rest of EU
- Rest of APAC
- Saudi Arabia
- Rest ofLAMEA