Analgesics Market 2024

PORTLAND, OREGON, UNITED STATES, March 4, 2024 /EINPresswire.com/ -- What is analgesic market?

The Analgesics market comprises over-the-counter natural and synthetic non-opioid analgesics (only in approved low doses) like Paracetamol, Ibuprofen, Aspirin, Diclofenac and other pain-relieving preparations.

According to the report, the global analgesics industry was estimated at $26.7 billion in 2020, and is anticipated to hit $50.7 billion by 2030, registering a CAGR of 6.6% from 2021 to 2030. Alarming rise in prevalence of chronic diseases, such as cancer, cardiovascular diseases, and arthritis, advancements in pharmaceutical industry for manufacturing of analgesics drugs, and rise in geriatric population are expected to notably contribute toward growth of the global analgesics market during the forecast period.

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Surge in incidences of chronic diseases such as tuberculosis (TB), cancer, cardiovascular diseases, and arthritis drives the growth of the global analgesics market. At the same time, rise in number of clinical studies for evaluating the safety and efficiency of a wide range of therapeutic drugs has supplemented the market growth yet more. However, technological development in the pharmaceutical industry to manufacture advanced analgesic drugs is expected to provide lucrative opportunities in the industry.

Analgesics Market Report Highlights:

By Type:

Non opioids
Opioids

By Route of Administration:

Rectal
Transdermal
Topical
Oral
Intravenous

By Region:

North America (U.S., Canada, Mexico)
Europe (United Kingdom, Germany, Spain, Sweden, France, Russia, Denmark, Rest of Europe)
Asia-Pacific (Japan, China, India, Australia, Indonesia, Rest of Asia-Pacific)
LAMEA (Saudi Arabia, UAE, Morocco, Kenya, Nigeria, Brazil, Venezuela, Chile, Rest of LAMEA)

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North America garnered the major share in 2020-

By region, the market across North America had the lion's share in 2020, generating nearly one-third of the global analgesics market, owing to increase in demand for non-opioids drugs, presence of key players, and development in R&D activities in the healthcare sector in the province. The Asia-Pacific region, on the other hand, is projected to portray the fastest CAGR of 7.3% by 2030. This is due to rise in awareness about the use of analgesic drugs, growth in healthcare expenditures, and surge in adoption of analgesic products.

Key players in the industry-

Novartis AG
Eli Lily and Company
Glaxosmithkline PLC
Pfizer Inc.
Sanofi
Bayer AG
Johnson & Johnson
Bristol Myer's Squibb
Reckitt Benckiser
Endo Pharmaceuticals

Key Benefits For Stakeholders:

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the analgesics market analysis from 2020 to 2030 to identify the prevailing analgesics market opportunity.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the analgesics market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as global analgesics market trends, key players, market segments, application areas, and market growth strategies.

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