GLOBAL ANALGESICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Analgesics Market Size and Trends

Global analgesics market is estimated to be valued at USD 51.10 Bn in 2024 and is expected to reach USD 79.51 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

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Growing preference for minimally invasive pain management techniques is can drive the analgesics market growth. Younger demographics and an increasing aging population susceptible to chronic pain disorders are attributing to this preference for pain therapies that rely more on medications than surgical interventions. The launch of innovative drug delivery systems for analgesics along with advancement in formulation technologies aiding higher bioavailability is supported by increasing R&D spending of leading pharmaceutical players. Due to growing global awareness and focus on pain management, the analgesics market can witness growth in the near future.

Rising Burden of Chronic Pain

 Rising prevalence of chronic pain significantly impact people’s quality of life and national healthcare budgets. Chronic pain is a debilitating condition associated with a variety of diseases and medical ailments such as arthritis, back pain, surgery recovery, diabetes, cancer, and others. As life expectancy increases worldwide and non-communicable diseases become more common, more people are suffering from chronic pain which persists for weeks or months. According to the latest estimates, nearly 20% of the global population suffers from chronic pain on a regular basis. Rising aging population in several developed nations can lead to increase in chronic pain cases, thus, putting immense strain on individuals as well as healthcare systems. This growing burden of chronic pain boosts demand for effective pain management medications like opioids, NSAIDs, and other analgesic drugs to relieve pain and improve functionality. Pharmaceutical companies are ramping up research and development of novel formulations and drug delivery systems to address this long-term pain cases more effectively.

Market Concentration and Competitive Landscape

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Rising Healthcare Expenditure on Pain Management

Persistent pain takes a huge economic toll globally in terms of lost work productivity and increased healthcare spending on medications, treatments, and physician visits. Providing effective pain relief is important from a humanitarian perspective to enhance patients' quality of life. It also makes economic sense for nations aiming to optimize healthcare resources and productivity levels within the population. Majority of chronic pain sufferers regularly visit multiple physicians and undergo multiple types of treatments from lifestyle therapies to invasive procedures. However, medication continues to be the mainstay of chronic pain management for most patients worldwide. Growing healthcare expenditure on pain management reflects this increasing dependence on analgesic drugs. Rising incomes have raised affordability and willingness to pay for therapeutic options to treat and manage pain conditions. With mounting economic burden of unresolved chronic pain, governments and private insurers are allocating bigger budgets towards pain relief programs and analgesic prescriptions. This boosts demand for pain-related drugs including both generic and patented brands.

Key Takeaways from Analyst:

Global analgesics market growth is driven by rising geriatric population and increasing prevalence of chronic pain disorders. As people age, these are more prone to musculoskeletal conditions like arthritis that require long-term pain management through analgesics. However, stringent regulations around opioid drugs can hamper the market growth. There is increasing scrutiny on the use of opioid analgesics due to high addiction and abuse potential.

Non-opioid analgesics are expected to witness rising uptake due to the shift towards safer alternatives. Topical analgesics are gaining traction as these allow localized pain relief without systemic side effects. Thus, pipeline for novel mechanisms and advanced drug delivery systems remains robust. Successful development and commercialization of such innovative products can offer market growth opportunities. North America currently dominates the market due to early availability of new products and high per-capita analgesic consumption. However, Asia Pacific is emerging as the fastest growing regional market due to its massive population base and rising disposable incomes that enable better access to pain treatment. Increased patient awareness about managing chronic can also drive the regional market growth.

Market Challenges: Risk of Addiction with Opioid Analgesics

The risk of addiction with opioid analgesics can hamper the global analgesics market growth. Opioid analgesics are highly effective at reducing severe pain but these carry the risk of developing dependence and addiction with long term use. According to the report published by National Institutes of Health in 2022, every day more than 130 people die in the U.S. after overdosing on opioids. The easy availability of cheap synthetic opioids like fentanyl has worsened the crisis. Many people who got introduced to opioids through prescription drugs started misusing them for their euphoric effects which led to a crisis in terms of overdose deaths and addiction issues across countries. This opioid crisis has damaged public perceptions about the safety of prescription painkillers. Now doctors are more cautious in prescribing opioid analgesics even for short term severe pain management out of fear of addiction risk. These increasingly favor non-opioid options like NSAIDs or other adjunct medications. As per the World Drug Report 2021 published by United Nations Office on Drugs and Crime, following years of rises, the quantities of opiates seized globally seem to have stabilized or declined in recent years. International cooperation helped restrict diversion of pharmaceutical opioids from legal to illegal markets but uncertainties still persist.

Market Opportunities: Development of Long-acting Analgesics

The development of long-acting analgesics has the potential to drive the global analgesics market growth. Currently, many available pain relief medications only provide temporary relief and need to be taken multiple times per day. This can put a burden on patients who struggle with around-the-clock pain management. Long-acting analgesics that only require dosing a few times per week or even once per month would provide a more convenient option for these patients. It could improve compliance to treatment regimens and quality of life by reducing medication intake frequency. Pharmaceutical corporations stand to gain from these longer-lasting medications by having to provide doses less frequently. As the world's population ages, there is an increasing need for more environmentally friendly solutions.  As per the Department of Economic and Social Affairs of the United Nations, the number of people aged 65 years or over is projected to double to more than 1.5 billion in 2050. Older individuals are more prone to chronic pain conditions that require long-term management. As per WHO, 19% of global population suffers from chronic pain. Long-acting analgesics could help address this growing need for reliable pain relief over extended periods. Their convenience might also help reduce burden on healthcare systems through fewer required doctor visits or hospitalizations related to inadequate pain control. The development of long-acting analgesics has the potential to transform the analgesics market. This presents a significant opportunity for drug developers to develop novel solutions aimed at extending duration of pain relief.

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By Drug Type - Rising incidence of chronic pain conditions boost opioid demand

In terms of drug type, opioid segment is estimated to contribute the highest market share of 58.1% in 2024, owing to increasing prevalence of chronic pain indications like musculoskeletal disorders and cancer. Opioids remain the mainstay treatment for managing moderate to severe pain and conditions like surgery recovery that require strong analgesia. Rising geriatric population prone to osteoarthritis and lower back pain has augmented the patient pool for opioids. Moreover, advancements in cancer treatment have improved survival rates, resulting in a growing cancer patient base that often experiences pain from the disease or its treatment regimens like chemotherapy While the ongoing opioid crisis and strict laws have had an impact on the prescribing patterns of opioids, the use of opioids for severe pain management remains supported due to the lack of effective alternatives.

By Route of Administration - Oral route maintains edge over others due to convenience

In terms of route of administration, oral segment is estimated to contribute the highest market share of 52% in 2024, owing to the convenience it offers as compared to other modes. Being a non-invasive route, oral analgesics are preferred by both patients and physicians when oral formulations can effectively manage the pain condition. Oral drugs are easy to administer, avoid risks of needle-stick injuries and infections associated with injections, and allow self-administration at home settings. Moreover, several chronic pain indications like backache, arthritis and menstrual cramps predominantly affect non-hospitalized patients worldwide who rely on oral medications. These advantages have ensured oral formulations, especially tablets and capsules, retain their prominent position in the analgesics market.

By Application - Growing musculoskeletal disorders fuel demand for anti-inflammatory drugs

In terms of application, musculoskeletal segment is estimated to contribute the highest market share of 41% in 2024, due to rising incidence of conditions like osteoarthritis and backache globally. Musculoskeletal disorders are among the most common and costly health issues worldwide. According to the National Institute of Health, over 126 million U.S. adults suffer from musculoskeletal conditions, while osteoarthritis is a leading cause of disability. Furthermore, developing risk factors like increasing obesity, sedentary lifestyles and aging populations have augmented the prevalence of diseases impacting the muscles and bones. This expanding patient pool relies heavily on analgesics, especially anti-inflammatory drugs, to manage pain, swelling and stiffness associated with musculoskeletal disorders.

Regional Insights

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North America dominates the global analgesics market with an estimated market share of 41.2% in 2024, owing to presence of several large pharmaceutical companies and strong consumption rates in the region. The U.S. market alone contributes over 40% of revenues due to rising healthcare expenditure and easy accessibility of pain medications. Moreover, regional patients show high affinity towards prescription drugs compared to other alternatives. However, regulations around opioid supply have tightened in recent times, which can impact sales volumes.

Asia Pacific has emerged as the fastest growing regional market due to expanding middle class population, growing medical tourism and improved access to treatments in developing nations. Countries like China, India and Japan are leading consumers while other Southeast Asian countries exhibit double digit annual growth. Rapid urbanization, shift towards western lifestyles and rising disposable incomes have boosted self-medication tendencies among urban residents. Local and multinational companies have strengthened distribution networks as well as manufacturing bases to tap into this lucrative opportunity.

Europe holds the second spot in terms of revenues owing to universal healthcare coverage and preference for generics. Top countries dominating Europe include Germany, France, U.K. and Italy on the back of large population base and number of medical prescriptions written. Exports from the region have surged in recent years as quality concerns diminish for European generics in international markets. However, pricing pressures from regulations and faster approvals for biosimilars can dent profit margins.

Market Report Scope

Key Developments

• On July 24, 2024, The recently concluded Phase 2 clinical trial of vocacapsaicin (CA-008), a first-in-class, non-opioid therapeutic with FDA Breakthrough Therapy Designation, revealed additional encouraging results, according to Concentric Analgesics, Inc., a clinical-stage biopharmaceutical company focused on developing and commercializing novel, non-opioid pain therapeutics.
• In February 2024, Hikma Pharmaceuticals PLC launched COMBOGESIC IV in the U.S., an opioid-free pain relief medication combining 1,000 mg of acetaminophen and 300 mg of ibuprofen in an intravenous form. Approved by the FDA in October 2023, it is indicated for adults needing intravenous administration for mild to moderate pain relief and as adjunct therapy for moderate to severe pain alongside opioid analgesics.
• In April 2023, the U.S. FDA announced a new requirement for manufacturers of opioid analgesics used in outpatient settings to provide prepaid mail-back envelopes to pharmacies and other dispensers. This initiative aims to offer patients additional safe disposal options for unused opioids, part of a broader strategy to combat the overdose crisis by reducing nonmedical use and accidental exposure to opioids.
• In August 2023, At the PAINWeek Conference 2023 in Las Vegas, Nevada, Kenvue Inc. debuted their new topical Tylenol Precise Pain-Relieving Cream in August 2023. This represents Kenvue's first product launch in the United States following its IPO and highlights the company's leadership position in consumer health goods worldwide.

*Definition: Global analgesics market refers to the industry comprising companies involved in the research, development, manufacturing, and sale of medication used to relieve pain. Major categories of analgesics in this market include opioid painkillers, nonsteroidal anti-inflammatory drugs (NSAIDs), and anesthetics. The global analgesics market has been growing in recent years due to the rising prevalence of chronic diseases and acute health conditions requiring pain relief worldwide.

Market Segmentation

•  Drug Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Opioid
  • Non-opioid
  • Compound medication
•  Route of Administration Insights (Revenue, USD Bn, 2019 - 2031)
  • Oral
  • Parenteral
  • Transdermal
  • Others
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
  • Musculoskeletal
  • Surgical and Trauma
  • Cancer
  • Neuropathic
  • Migraine
  • Obstetrical
  • Fibromyalgia
  • Pain due to Burns
  • Dental/Facial
  • Pediatric
  • Others
•  Pain Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Acute
  • Chronic
•  Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
  • Hospital pharmacies
  • Retail pharmacies
  • Online pharmacies
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • F. Hoffmann-La Roche Ltd.
  • Mylan N.V.
  • Teva Pharmaceutical Industries Ltd.
  • Sanofi
  • Pfizer Inc.
  • GlaxoSmithKline plc
  • Novartis AG
  • Merck & Co., Inc.
  • AstraZeneca
  • Johnson & Johnson Private Limited
  • Hikma Pharmaceuticals PLC
  • Dr. Reddy’s Laboratories Ltd.
  • Fresenius Kabi AG
  • Aurobindo Pharma
  • Bausch Health Companies Inc.
  • Amneal Pharmaceuticals LLC.
  • Apotex Inc.
  • Eli Lilly and Company
  • Cipla Inc.
  • Lupin