GLOBAL ANALGESICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global analgesics market growth is driven by rising prevalence of chronic and acute pain disorders worldwide. Analgesics drugs play a crucial role in relieving pain and enhancing the quality of life of patients. Changing lifestyles and higher stress levels have significantly increased several pain-related ailments like backache, arthritis, and migraines among others. Technological advancements in drug delivery systems and formulation development have boosted demand for novel analgesic medications with improved efficacy and reduced risk of addiction. Moreover, growing geriatric population prone to osteoarthritis and musculoskeletal disorders can also boost demand for analgesics. However, strict regulations surrounding opioid medications and development of alternative therapies can pose challenges to industry players.
Market Dynamics:
Global analgesics market growth is primarily driven by rising prevalence of various pain-related chronic conditions like arthritis, back pain, migraines, and osteoporosis due to growing geriatric population worldwide. As per estimates, over 20% of the global population will suffer from osteoarthritis by 2030. Changing lifestyles with sedentary jobs and increased stress levels have substantially raised the incidence of musculosketal disorders, thus, boosting demand for analgesic. However, growing concerns over misuse and abuse of prescription opioids can hamper the market growth. This has led regulatory bodies to tighten rules surrounding opioid analgesic approvals and usage. Moreover, alternative therapies like cannabinoid-based drugs, acupuncture, and physiotherapy are gaining popularity, and this can hamper demand for traditional painkillers. Favorable reimbursement policies for chronic pain management provides profitable opportunities for analgesic manufacturers. Ongoing research towards develop non-addictive formulas and advanced drug delivery systems can offer growth opportunities in the future.
Key Features of the Study:
- This report provides in-depth analysis of the global analgesics market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global analgesics market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Pfizer, GSK, Novartis, and Johnson & Johnson.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global analgesics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global analgesics market
Detailed Segmentation-
Table of Contents
*Browse 32 market data tables and 28 figures on “Analgesics Market” -Global forecast to 2031
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Customize Now
Credibility and Certifications
860519526
9001:2015
27001:2022
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients
