Analgesics Market Research Report — Global Forecast till 2032

Analgesics Market Research Report: Information By Drug Class (Opioids, NSAIDs, Local Anesthetics, and Acetaminophen), By Indication (Surgical Pain, Cancer Pain, Neuropathic Pain, and Others), By Type (Prescription, and OTC), By Application (Internal Analgesics, and External Analgesics), By Route of Administration (Oral, Parenteral, Transdermal, and Others), By Distribution Channel (Hospital pharmacies, Retail pharmacies, Drug Stores, and Online pharmacies), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market F

ID: MRFR/HC/17649-HCR | 128 Pages | Author: Rahul Gotadki | March 2024         

Global Analgesics Market Overview


Analgesics Market Size was valued at USD 39.2 Billion in 2022. The analgesics market industry is projected to grow from USD 41.7 Billion in 2023 to USD 69.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2023 - 2032). Growing elderly demographic and increased healthcare spending are the key market drivers enhancing the market growth.


Analgesics Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Analgesics Market Trends


Increased healthcare spending is driving the market growth


Market CAGR is expected to continue its upward trajectory, driven by increased healthcare spending ly. The surge in healthcare spending has emerged as a pivotal driver propelling the growth trajectory of the analgesics market. This profound trend underscores a fundamental shift in  healthcare dynamics, as societies allocate substantial resources towards improving medical infrastructure, enhancing patient care, and advancing pharmaceutical innovations. The primary catalysts behind this surge is the escalating demand for high-quality healthcare services, fueled by demographic shifts and evolving disease patterns. As population’s age and chronic conditions become more prevalent, there's a heightened need for effective pain management solutions, positioning analgesics as indispensable components of modern healthcare protocols.


Moreover, increased healthcare spending reflects a broader commitment to expanding access to essential medications, ensuring that patients receive timely and comprehensive treatment for pain-related ailments. This emphasis on accessibility is particularly crucial in underserved regions and marginalized communities, where equitable healthcare provision remains a pressing priority. Furthermore, healthcare expenditure is intricately linked to advancements in medical research and development. The substantial investments channeled into pharmaceutical innovation foster a conducive environment for the discovery and refinement of novel analgesic therapies. From enhanced formulations to targeted drug delivery systems, these breakthroughs not only enhance the efficacy of pain management but also drive market growth by introducing differentiated products with superior clinical outcomes.


Additionally, heightened healthcare spending catalyzes robust regulatory frameworks, ensuring the safety, efficacy, and quality of analgesic medications. Regulatory agencies play a pivotal role in safeguarding public health by rigorously evaluating new drugs, conducting post-market surveillance, and enforcing compliance standards. This regulatory oversight instills confidence among healthcare providers and consumers’ alike, bolstering market dynamics and fostering sustainable growth. The correlation between increased healthcare spending and market expansion underscores a symbiotic relationship wherein investments in healthcare infrastructure, research, and regulation converge to drive innovation, enhance accessibility, and elevate standards of care in pain management. As this trend continues to unfold, the analgesics market is poised for sustained growth, poised to meet the evolving needs of patients worldwide.


For instance, in 2020, Novartis had acquired The Medicines Company, thereby acquiring the promising investigational cholesterol-lowering therapy, inclisiran. This strategic move positions Novartis to pioneer a potentially groundbreaking approach to addressing the world's foremost cause of mortality and disability with an innovative vaccine-like treatment. The integration of The Medicines Company and inclisiran into Novartis's portfolio represents a pivotal advancement in the company's mission to streamline operations, revolutionize healthcare, and positively impact  health outcomes. Such developments in the market is driving the analgesics market revenue.


Analgesics Market Segment Insights


Analgesics Drug Class Insights


The  analgesics market segmentation, based on drug class includes Opioids, NSAIDs, Local Anesthetics, and Acetaminophen. The NSAIDs segment dominated the market, accounting for 40% of market revenue (15.7 Billion). In developing economies, category growth is driven by rising incidence of musculoskeletal disorders and increasing geriatric population.


Analgesics Indication Insights


The  analgesics market segmentation, based on indication, includes surgical pain, cancer pain, neuropathic pain, and others. The surgical pain category generated the most income (45%). With advancements in medical technology and an aging population, there is a growing number of surgical procedures being performed ly. Furthermore, effective pain management is integral to achieving these goals, prompting healthcare providers to prioritize the use of analgesics for surgical pain, leading to increased sales.


Analgesics Type Insights


The  analgesics market segmentation, based on type, includes Prescription, and OTC. The OTC category generated the most income (65%). Growing trend towards self-care and self-medication among consumers, driven by factors such as convenience, accessibility, and empowerment. Additionally, OTC analgesics are widely available in retail outlets such as pharmacies, supermarkets, and convenience stores.


Analgesics Application Insights


The  analgesics market segmentation, based on application, includes internal analgesics, and external analgesics. The internal analgesics category generated the most income (73%). Chronic pain conditions such as arthritis, migraines, and neuropathic pain are increasingly prevalent ly due to factors like aging populations and sedentary lifestyles. Moreover, pharmaceutical companies are continuously innovating to improve the efficacy, safety, and tolerability of internal analgesics.


Analgesics Route of Administration Insights


The  analgesics market segmentation, based on route of administration, includes oral, parenteral, transdermal, and others. The oral category generated the most income (54%). The ease of swallowing a pill or tablet facilitates self-medication and ensures widespread acceptance, leading to increased sales of oral analgesics. Furthermore, other routes such as injections or transdermal patches, oral analgesics are more readily accepted by patients, leading to consistent usage and increased sales.


Analgesics Distribution Channel Insights


The  analgesics market segmentation, based on route of administration, includes hospital pharmacies, retail pharmacies, drug stores, and online pharmacies. The retail pharmacies category generated the most income (46%). The accessibility of retail pharmacies, often located in local neighborhoods or shopping centers, drives increased sales as consumers seek immediate relief for their pain symptoms. Additionally, the personalized guidance enhances consumer confidence in their purchases and can lead to increased sales as consumers feel empowered to make informed decisions about their pain management.


 


Figure 1:  Analgesics Market, by Drug Class, 2022 & 2032 (USD Billion)


Analgesics Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Analgesics Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American analgesics market area will dominate this market, as the region is experiencing a significant increase in the prevalence of chronic pain conditions such as arthritis, lower back pain, and migraines. Factors such as aging populations, sedentary lifestyles, and obesity contribute to this trend. As a result, there is a growing demand for analgesic medications to manage these conditions, leading to increased sales in the region.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2:  ANALGESICS MARKET SHARE BY REGION 2022 (USD Billion)


Analgesics Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe analgesics market accounts for the second-largest market share as a significant proportion of elderly individuals experiencing age-related health issues such as arthritis, chronic pain, and other musculoskeletal disorders. Further, the German analgesics market held the largest market share, and the UK analgesics market was the fastest growing market in the European region


The Asia-Pacific analgesics Market is expected to grow at the fastest CAGR from 2023 to 2032. The convenience and ease of access to OTC analgesics contribute to their rising sales in Asia-Pacific as consumers seek quick and affordable solutions for common pain relief needs. Moreover, China’s analgesics market held the largest market share, and the Indian analgesics market was the fastest growing market in the Asia-Pacific region.


Analgesics Key Market Players & Competitive Insights


Leading market players in the analgesics market leverage extensive research and development to maintain their competitive edge. With a diverse portfolio of products, they cater to various pain types and patient demographics. Strategic acquisitions and mergers bolster their market presence, ensuring a strong foothold ly.


Market developments such as the emergence of novel drug delivery systems, increasing emphasis on personalized medicine, and growing investments in pain management research shape the competitive landscape, driving innovation and differentiation among players vying for market share in the dynamic analgesics market.


The  analgesics industry witnesses continuous evolution driven by factors like changing consumer preferences and technological advancements. Market players strategically navigate regulatory landscapes and  market dynamics to capitalize on emerging opportunities. As the analgesics industry adapts to shifting demands and innovations, it remains a crucial component of  healthcare markets. Major players in the analgesics market, including Abbott, Pfizer Inc., Eli Lilly & Company, and GSK plc, and others, are attempting to increase market demand by investing in research and development operations.


Pfizer Inc., a  pharmaceutical powerhouse, stands at the forefront of the analgesics market. With a rich history of pioneering breakthroughs, Pfizer's portfolio boasts iconic pain management medications trusted by millions worldwide. Leveraging cutting-edge research and innovation, Pfizer continuously develops novel analgesic treatments, addressing diverse pain types and patient needs. As a leader in the analgesics sector, Pfizer prioritizes patient well-being, ensuring access to safe, effective pain relief solutions. With a commitment to advancing healthcare, Pfizer's contributions to the analgesics industry resonate ly, shaping the future of pain management and improving lives.


GSK plc, a renowned pharmaceutical giant, holds a prominent position in the analgesics industry. With a legacy of innovation and excellence, GSK's comprehensive portfolio includes a range of trusted analgesic brands catering to various pain conditions. Through strategic partnerships and relentless research efforts, GSK remains at the forefront of developing cutting-edge pain management solutions. Committed to improving  healthcare outcomes, GSK's dedication to advancing the analgesics industry underscores its mission to alleviate suffering and enhance quality of life for individuals worldwide. GSK's continued contributions to the analgesics market exemplify its unwavering commitment to innovation, efficacy, and patient-centric care.


Key Companies in the Analgesics Market Include



  • Abbott

  • Pfizer Inc.

  • Eli Lilly & Company

  • GSK plc.

  • Hoffmann-La Roche AG

  • Bausch Health Companies Inc.

  • Merck & Co. Inc.

  • AbbVie Inc.

  • Novartis AG

  • Johnson & Johnson Private Limited


Analgesics Industry Developments


June 2022: Pfizer made a significant announcement regarding the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for PAXLOVID. This medication targets patients identified as high-risk for severe illness progression from COVID-19. While currently authorized for emergency use in treating mild-to-moderate COVID-19 cases in adults and pediatric patients aged 12 years and above, weighing at least 40 kg (88 lbs), and testing positive for SARS-CoV-2, PAXLOVID's NDA submission includes longer-term follow-up data.


June 2022: GSK plc released plans to establish its new  headquarters in central London. The relocation, scheduled for 2024 from its current base in Brentford, West London, marks a significant milestone for GSK. The company views this move as a pivotal advancement, underscoring its commitment to London as a hub for  biopharmaceutical endeavors.


Analgesics Market Segmentation


Analgesics Drug Class Outlook



  • Opioids

  • NSAIDs

  • Local Anesthetics

  • Acetaminophen


Analgesics Indication Outlook



  • Surgical Pain

  • Cancer Pain

  • Neuropathic Pain

  • Others


Analgesics Type Outlook



  • Prescription

  • OTC


Analgesics Application Outlook



  • Internal Analgesics

  • External Analgesics


Analgesics Route of Administration Outlook



  • Oral

  • Parenteral

  • Transdermal

  • Others


Analgesics Distribution Channel Outlook



  • Hospital pharmacies

  • Retail pharmacies

  • Drug Stores

  • Online pharmacies


Analgesics Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Analgesics Report Scope
Report Attribute/Metric Details
Market Size 2022 USD 39.2 Billion
Market Size 2023 USD 41.7 Billion
Market Size 2032 USD 69.1 Billion
Compound Annual Growth Rate (CAGR) 6.50% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Drug Class, Indication, Type, Application, Route of Administration, Distribution Channel and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Abbott, Pfizer Inc., Eli Lilly & Company, GSK plc., F. Hoffmann-La Roche AG, Bausch Health Companies Inc., Merck & Co. Inc., AbbVie Inc., Novartis AG, and Johnson & Johnson Private Limited
Key Market Opportunities ·         Rising healthcare expenditure and stringent regulatory approvals
Key Market Dynamics ·         Innovations in drug delivery systems and growing elderly demographics
 



Frequently Asked Questions (FAQ) :

The analgesics market size was valued at USD 39.2 Billion in 2022.

The market is projected to grow at a CAGR of 6.50% during the forecast period, 2023-2032.

North America had the largest share in the market

The key players in the market are Abbott, Pfizer Inc., Eli Lilly & Company, GSK plc., F. Hoffmann-La Roche AG, Bausch Health Companies Inc., Merck & Co. Inc., AbbVie Inc., Novartis AG, and Johnson & Johnson Private Limited

The NSAIDs category dominated the market in 2022.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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