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

Regional Analysis

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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.