USD 38.60 billion
Analgesics Market Size, Share, Growth Analysis, By Route of Administration(Oral, Topical, and Parenteral Administration), By Distribution Channel(Pharmacies, Hospital Pharmacies, and Online Pharmacies), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2164 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
63
|Figures:
75
Analgesics Market Insights
Global Analgesics Market size was valued at USD 38.60 billion in 2022 and is poised to grow from USD 40.92 billion in 2023 to USD 65.32 billion by 2031, growing at a CAGR of 6.02 % during the forecast period (2024-2031).
The global analgesics market is witnessing steady growth driven by several market insights. Factors such as the rising prevalence of chronic pain conditions, increasing geriatric population, and growing awareness about pain management contribute to market expansion.
The demand for analgesic drugs, both prescription and over-the-counter, is increasing as they provide relief from pain and discomfort. Technological advancements in drug delivery systems, the introduction of novel analgesic formulations, and the availability of generic options further fuel market growth.
Additionally, strategic collaborations, mergers, and acquisitions among key market players aim to strengthen their product portfolios and expand their global footprint in the analgesics market.
US Analgesics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Oral
Fastest Growth
Oral
Growth Rate
6.02% CAGR
Global Analgesics Market ($ Bn)
Country Share for North America Region (%)
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Analgesics Market Segmental Analysis
The global analgesics market is segmented by route of administration segment, distribution channel and region. Based on route of administration segment, the market can be segmented into oral, topical, and parenteral administration. Based on distribution channel, the market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analgesics Market Analysis by Route of Administration
The route of administration segment in the global analgesics market refers to the different ways in which analgesic drugs are administered to patients. The main sub-segments within this segment include oral, topical, and parenteral administration.
The dominant sub-segment within the route of administration segment is oral administration. It is widely used due to its convenience, ease of administration, and availability of a variety of oral analgesic formulations. Oral analgesics are suitable for a wide range of pain management needs, including both acute and chronic pain.
The fastest growing sub-segment within the route of administration segment is topical administration. The demand for topical analgesics is increasing due to their localized pain relief benefits and the growing preference for non-invasive and non-systemic treatment options. Advancements in formulation technology, such as the development of transdermal patches and improved delivery systems, contribute to the rapid growth of the topical administration sub-segment. Additionally, the rising awareness about the potential risks and side effects associated with systemic analgesics has fuelled the demand for topical alternatives, driving market growth in this sub-segment.
Analgesics Market Analysis by Distribution Channel
The distribution channel segment in the global analgesics market refers to the various channels through which analgesic drugs are made available to consumers. The main sub-segments within this segment include retail pharmacies, hospital pharmacies, and online pharmacies.
The dominant sub-segment within the distribution channel segment is retail pharmacies. They are widely accessible, and consumers often rely on their local pharmacies for their pain relief needs. The face-to-face interaction with pharmacists and the ability to seek advice or recommendations contribute to the dominance of retail pharmacies.
The fastest growing sub-segment within the distribution channel segment is online pharmacies. The rapid expansion of e-commerce and the increasing adoption of online purchasing habits have fueled the growth of online pharmacies. The convenience, wider product selection, competitive pricing, and doorstep delivery offered by online platforms have attracted a growing number of consumers. The COVID-19 pandemic has further accelerated the shift towards online purchasing, driving the growth of this sub-segment in the analgesics market.
Global Analgesics Market By Route of Administration
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Analgesics Market Regional Insights
North America is a dominant region in the global analgesics market. Factors contributing to its dominance include the high prevalence of chronic pain conditions, well-established healthcare infrastructure, advanced research and development activities, and strong market presence of key pharmaceutical companies. The region has a high demand for analgesic drugs, both prescription and over-the-counter, to manage pain-related conditions. Additionally, favorable reimbursement policies and high healthcare spending contribute to the dominance of North America in the analgesics market.
Asia-Pacific is the fastest growing region in the global analgesics market. The region's rapid growth can be attributed to factors such as a large population base, increasing awareness about pain management, rising disposable income, and improving healthcare infrastructure. The growing geriatric population in countries like Japan and China, coupled with the rising prevalence of chronic pain conditions, drives the demand for analgesics in the region. Moreover, the expanding pharmaceutical industry, increasing healthcare expenditure, and the adoption of advanced pain management therapies contribute to the fast growth of the Asia-Pacific analgesics market.
Global Analgesics Market By Region
- Largest
- Fastest
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Analgesics Market Dynamics
Analgesics Market Drivers
Increasing Prevalence of Chronic Pain
- One of the major drivers of the global analgesics market is the increasing prevalence of chronic pain conditions. Chronic pain affects a significant portion of the global population, leading to a growing demand for effective pain management solutions. Conditions such as arthritis, cancer, neuropathic pain, and musculoskeletal disorders contribute to the rising burden of chronic pain. As a result, there is a need for analgesic drugs that provide relief and improve the quality of life for patients. The growing awareness about pain management, coupled with advancements in pharmaceutical research, drives the development of new and improved analgesic medications, further fuelling the market growth.
Analgesics Market Restraints
Potential Side Effects and Abuse
- One of the key restraints of the global analgesics market is the potential for side effects and abuse associated with certain analgesic drugs. Opioid-based analgesics, in particular, carry a risk of dependence, addiction, and overdose. The misuse of these drugs has become a significant public health concern, leading to regulatory scrutiny and the implementation of stricter prescription guidelines. Healthcare providers and regulatory authorities are increasingly cautious about prescribing and monitoring opioid analgesics. This has led to a shift towards non-opioid analgesics and alternative pain management strategies. The need for balancing effective pain relief with minimizing the risk of abuse poses a challenge to the growth of the global analgesics market.
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Analgesics Market Competitive Landscape
The global Analgesics market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Analgesics. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Analgesics Market Top Player’s Company Profiles
- Johnson & Johnson (United States)
- Pfizer Inc. (United States)
- GlaxoSmithKline plc (United Kingdom)
- Bayer AG (Germany)
- Novartis AG (Switzerland)
- Sanofi S.A. (France)
- Eli Lilly and Company (United States)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Merck & Co., Inc. (United States)
- Endo International plc (Ireland)
- AstraZeneca PLC (United Kingdom)
- Boehringer Ingelheim GmbH (Germany)
- Mallinckrodt Pharmaceuticals (United States)
- Abbott Laboratories (United States)
- Mylan N.V. (United Kingdom)
- Sun Pharmaceutical Industries Ltd. (India)
- Purdue Pharma L.P. (United States)
- Daiichi Sankyo Company, Limited (Japan)
- Takeda Pharmaceutical Company Limited (Japan)
- AbbVie Inc. (United States)
Analgesics Market Recent Developments
- In February 2023, Kedrion Biopharma, a biopharmaceutical company specializing in plasma-derived products, announced the completion of a Phase 3 clinical trial for its novel subcutaneous immunoglobulin (SCIG) therapy, KEDRABIO. The trial demonstrated the safety and efficacy of KEDRABIO in patients with primary immunodeficiencies, offering a potential alternative treatment option.
Analgesics Key Market Trends
- One key market trend in the global analgesics market is the increasing demand for non-opioid analgesics. Opioid analgesics have traditionally been widely used for pain management, but due to concerns regarding opioid addiction, abuse, and overdose, there has been a growing emphasis on alternative pain relief options. Non-opioid analgesics, such as nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen, are gaining popularity as effective alternatives for managing mild to moderate pain.
Analgesics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global analgesics market is a significant sector within the pharmaceutical industry, aimed at providing relief from pain and improving the quality of life for patients. The market is driven by factors such as the increasing prevalence of chronic pain conditions, aging population, and growing awareness of pain management. Opioid-based analgesics have traditionally been widely used but are now facing scrutiny due to concerns of addiction and abuse. As a result, there is a shift towards non-opioid alternatives and innovative pain management therapies. Major players in the market are investing in research and development activities to introduce advanced analgesic drugs and expand their market presence. The market is highly competitive and evolving, with a focus on patient-centric approaches and personalized pain management solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 38.60 billion |
| Market size value in 2031 | USD 65.32 billion |
| Growth Rate | 6.02% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Analgesics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Analgesics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Analgesics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Analgesics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Analgesics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Analgesics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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