Bharat Book Bureau Provides the Trending Industry Research Report on “Analgesics Market by Type (Non-Opiods and Opiods), by Route of Administration (Oral Route, Intravenous Route, Rectal route, Transdermal route, Tropical route), - Global Opportunity Analysis and Industry Forecast, 2020 – 2030” under Pharmaceutical Market Analysis Category. The report offers a collection of superior Industry research, Industry analysis, competitive intelligence and Industry reports.
The Global Analgesics Market was valued at USD 25.44 billion in 2019 and is projected to reach USD 29.58 billion by 2030, expanding at a CAGR of 1.30% during the forecast period, from 2020 to 2030.
Analgesics, also known as pain killers, are used to treat various types of pain caused by wounds, surgeries, ailment, and illnesses, among others. Various opioids, non-opioids and combination drugs are used for pain management. Opioid drugs are a type of painkillers derived from opium and are used to treat moderate to severe pain.
Market Dynamics and Trends
Increasing incidences of various acute and chronic disorders, growth of the geriatric population, and rising prevalence of cardiovascular disorders, arthritis, and other ailments are driving the analgesics market growth. Also, increasing sales of over the counter drugs, rise in the demand for pain management due to the changing lifestyle, poor eating habits and posture, growing prevalence of obesity are contributing to the growth of the market.
However, stringent regulatory policies regarding drug abuse are expected to hinder the market growth. Conversely, rise in the R&D activities has led to the development of innovative drugs and increased the demand for personalized medicines, thus creating new opportunities in the analgesics market.
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Market Segmentations and Scope of the Study:
The global analgesics market has been segmeneted on the basis of type, route of administration, and geography. Based on type, the market is bifurcated into non-opioids and opioids. In terms of route of administration, the market is segregated into oral, intravenous, rectal, transdermal, and tropical. On the basis of geography, the market is fragmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Geographical Analysis
North America hols the major share of the market and this trend is projected to continue during the forecast period due to the increasing prevalence of chronic disorders, rise in the demand for pain management, and growth in R&D activities.
The market in Asia Pacific is expected to grow in the coming years owing to the presence of developing economies, increase in the prevalence of chronic disorders, rise in geriatric population, and growth in the need for OTC drugs.
Competitive Landscape
Key players in the global analgesics market include Novartis AG, GlaxoSmithKline PLC, Bayer AG, Johnson & Johnson, Pfizer Inc., Endo Pharmaceuticals, Reckitt Benckiser (RB), Eli Lilly and Company, Bristol-Myers Squibb, and Sanofi S.A.
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