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

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.