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Incessantly growing cancer incidences, increasing geriatric population and renal diseases, and post-surgical requirements are majorly fueling the global analgesics market as per the findings of a recent IndustryARC business intelligence report. Additionally, unprecedented obesity, dental ailments, and cardiovascular diseases worldwide necessitate pain management medications, which largely require opium integrated and non-opioid analgesic drugs, thereby facilitating the overall market income. According to the market research report, the global analgesic drug market size stood at $26.4 billion for the FY 2018. Used for reducing pain caused by sprains, operative, accidental injuries and physiological disorders, there is an array of painkillers which paracetamols, non-steroidal anti-inflammatory drugs (NSAIDs), and over-the-counter (OTC) accomplishing moderate to complete pain relief.Consumed orally, by topical medication, and through intravenous, rectal, and transdermal injection analgesic drugs have etched a benchmark position as a crucial medicine in the healthcare industries and local uses. Hence, the global analgesics market demand is evaluated to grow at a CAGR of 2.34% with a lucrative revenue income during the forecast period 2019-2025. This report covers Analgesics Market Size by Product and applications, Analgesics market share by top 5 companies and also the market share by start-ups during the forecast period. It also proffers a comprehensive analysis of the vendor’s assessment through intelligence reviewing of market dynamics, growth drivers, opportunity scopes, and competitive market players.
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Global Analgesics Market: Leading Segments:
Asia Pacific is dominating the analgesics market attributing to several factors such as growing acute and chronic diseases, wound care management and treatment, physiologic pain, wound care pain, and self-medication. According to the Asian Development Bank, 60% of the global population resides in Asian continent consequently propelling the analgesics drug use in the APAC region. Furthermore, key development owing to colossal governmental R&D investments and innovative development of manufacturing companies contribute to increasing analgesics market size. As per the above mentioned report, APAC held a regional share of 38.80% as of 2018 and the growing demand exerted by hospitals, clinics, and home necessities for oral analgesic drugs is estimated to propel at a CAGR of 2.41% through to 2025.
Global Analgesics Market: Disruptive Trends and Growth Drivers:
New Analgesic Drug Reducing Opioid Crisis:
While the use of analgesic drugs is reaching its peak, concerns about the side-effects of opioid drugs on several body parts and other health implications act as a barrier for the key manufacturing companies. However, recent collaborate research conducted by the Zuse Institute Berlin and Universitätsmedizin Berlin have successfully developed a new opioid drug which will focus its medication specifically on the injured part or inflammatory area. The research shows the drug will significantly reduce the brain and stomach related adverse effects thereby, acting as an alternative drug to the conventional analgesics drugs.
Application as Topical Gels:
Commonly taken as oral pills and injections, analgesics furthers its reach as topical creams, gels, and sprays for arthritis joint pain and muscle sprains, these ointments are widely used across the world.
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Global Analgesics Market: Competitive Landscape:
The key market companies of the global analgesics market are Reckitt Benckiser (RB), Bayer AG, Johnson & Johnson, Novartis AG, Pfizer Inc., Sanofi, Endo Pharmaceuticals, Bristol-Myers Squibb, Eli Lilly and Company, GlaxoSmithKline PLC, and many others.
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