United States, New York, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Introspective Market Research reports that the Analgesics Market around the world was USD 87.59 billion in 2023 and it was projected to reach USD 131.29 billion by 2032 with a CAGR of 4.6% between 2024 to 2032.
Pain is a symptom of many human illnesses, and various painkillers are routinely used to relieve aches. Traditional pain treatments have depended on tablets that have long been known to have analgesic families, together with nonsteroidal anti-inflammatory capsules (NSAIDs), cyclooxygenase (COX) inhibitors, and analgesics. Opium and painkillers consist of many distinct compounds utilized in painkillers from the arsenal of Medicines used for other therapeutic purposes but in some instances, it's been determined to be effective in controlling aches in a medical setting.
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Prominent Drivers of the Analgesics Market
Rising Chronic Pain Cases
The changing occurrence in lifestyle and related health conditions, including obesity, diabetes, cardiovascular disorders, and others, has driven the growth of chronic pain management. As worldwide surgeries and surgical procedures continuously increase there is demand for post-operative pain management these factors also drive the growth of analgesics.
For instance; In the United States, chronic pain, defined as pain lasting more than 3 months, is a devastating public health issue, affecting approximately 20% of adults and costing approximately $600 billion annually, more than any other medical condition.1,2 Of the more than 50 million adults with chronic pain, 8% to 10% are estimated to have high-impact chronic pain, defined as pain that limits work or life activities.
Increased Healthcare Awareness and Pharmaceutical Advancements
Increased healthcare awareness and pharmaceutical advancements are pivotal drivers propelling the analgesics market's growth. Rising public awareness about pain management and self-medication has led to an increasing demand for over-the-counter (OTC) analgesics. Consumers are now more informed about the various options available to address pain, ranging from mild headaches to chronic conditions. This trend is supported by improved healthcare education initiatives and widespread access to digital health information platforms. Additionally, advancements in pharmaceutical research and development have introduced innovative analgesic formulations, such as extended-release tablets, combination drugs, and non-opioid painkillers. These advancements not only enhance efficacy but also reduce side effects, improving patient compliance. The introduction of topical pain relievers, transdermal patches, and novel drug delivery systems further expands treatment options, catering to diverse patient needs. Together, these factors create a robust demand for analgesics, making them a crucial component of global pain management strategies.
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Key Challenges:
Stringent Regulatory Policies and Safety Concerns
Regulatory regulations pose a vast undertaking in the analgesics market, particularly for opioid-based total products, as stringent rules goal to combat issues associated with abuse and addiction. For instance, the U.S. Food and Drug Administration (FDA) has carried out comprehensive recommendations that dictate the prescribing and doling out of opioids, which includes chance assessment and mitigation strategies (REMS) to ensure their secure use. These regulations require healthcare carriers to undergo specific education, sufferers to be carefully monitored, and precise documentation for prescriptions, which can create limitations for patients who actually want those medications for pain control. These regulatory surroundings can result in decreased availability of powerful ache comfort alternatives, impacting patient care and delight at the same time as fostering a climate of caution that can in addition stigmatize the use of opioids in valid clinical contexts.
Key Manufacturers
Market key players and organizations within a specific industry or market that significantly influence its dynamics. Identifying these key players is essential for understanding competitive positioning, market trends, and strategic opportunities.
- Johnson & Johnson (USA)
- Pfizer Inc. (USA)
- GlaxoSmithKline (UK)
- Sanofi (France)
- Novartis AG (Switzerland)
- Bayer AG (Germany)
- AstraZeneca (UK)
- Boehringer Ingelheim (Germany)
- Merck & Co., Inc. (USA)
- Eli Lilly and Company (USA)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Reckitt Benckiser (UK)
- Endo International plc (Ireland)
- Takeda Pharmaceutical Company (Japan)
- Sun Pharmaceutical Industries Ltd. (India), and Other Active Player
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Recent Development
In July 2024, Vertex Pharmaceuticals Incorporated announced that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) submission for suzetrigine, an investigational, oral, selective NaV1.8 pain signal inhibitor to treat moderate-to-severe acute pain. Suzetrigine has the potential to be the first new class of medicine to treat acute pain in over twenty years.
In January 2023 – Neumentum, a pharmaceutical company dedicated to transforming the way pain is treated – without opioids – announced the initiation of its phase 3 study evaluating the efficacy and safety of its lead product candidate, NTM-001 (pre-mixed bag of ketorolac for continuous infusion), in patients with moderately-severe pain after bunionectomy surgery.
Key Segments of Market Report
By Type:
Prescription analgesics shall continue to lead the market over the forecast period based on the increasing prevalence of chronic and severe pain that cannot be addressed by over-the-counter drugs. Non-methademic analgesics, opioids, and other preparations are customarily required to address postoperative pain, cancer pain, as well as rheumatoid arthritis and other chronic pains for which a paracetamol tablet may not suffice. In addition, growth in prescription pain management therapies, such as extended-release formulations and tailored therapy, accelerates the growth of this segment. Also, as healthcare providers give attention to better and improved pain management while respecting strict laws and particularly, concerning regulation of opioids the prescribed analgesics market will continue to have steady growth across both the developed and developing countries.
By Application:
Surgical pain dominates the analgesics marketplace via indication because of the important want for powerful pain management following surgical processes. Surgeries, whether or not minor or fundamental, often involve tissue harm, mainly to acute pain that requires on-the-spot and regular comfort to ensure patient comfort and recovery. The increasing variety of surgical interventions globally, pushed with the aid of the superiority of chronic illnesses, rising geriatric populations, and advancements in medical technology, has extensively boosted the call for analgesics. Additionally, up-operative ache management is critical for decreasing headaches, improving mobility, and stopping the development of persistent pain, making analgesics a crucial factor of publish-surgical care. The availability of a wide range of ache management options, which includes prescription opioids, non-opioids, and multimodal analgesics, similarly helps this market segment. As healthcare systems attention on improving surgical effects and patient pride, the demand for effective surgical ache control answers keeps growing, solidifying its dominance within the analgesics market.
By Region
North America dominates the analgesics market. This is due to the presence of several leading players undertaking various strategic initiatives, and high investments in analgesics-focused R&D in the region. The growth is also governed by the high prevalence of target diseases such as musculoskeletal disorders and chronic pain, among others, coupled with the cost of analgesics in the region. The increasing number of surgeries and various government initiatives to safeguard the use of analgesics are also expected to fuel regional expansion during the forecast period.
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Comprehensive Offerings:
- Historical Market Size and Competitive Analysis (2017–2023): Detailed assessment of market size and competitive landscape over the past years.
- Historical Pricing Trends and Regional Price Curve (2017–2023): Analysis of historical pricing data and price trends across different regions.
- Market Size, Share, and Forecast by Segment (2024–2032): Projections and detailed insights into market size, share, and future growth by segment.
- Market Dynamics: In-depth analysis of growth drivers, restraints, opportunities, and key trends, with a focus on regional variations.
- Market Trend Analysis: Evaluation of emerging trends that are shaping the market landscape.
- Import and Export Analysis: Examination of trade patterns and their impact on market dynamics.
- Market Segmentation: Comprehensive analysis of market segments and sub-segments, with a regional breakdown.
- Competitive Landscape: Strategic profiles of key players across regions, including competitive benchmarking.
- PESTLE Analysis: Evaluation of the market through Political, Economic, Social, Technological, Legal, and Environmental factors.
- PORTER’s Five Forces Analysis: Assessment of competitive forces influencing the market.
- Industry Value Chain Analysis: Examination of the value chain to identify key stages and contributors.
- Legal and Regulatory Environment by Region: Analysis of the legal landscape and its implications for business operations.
- Strategic Opportunities and SWOT Analysis: Identification of lucrative business opportunities, coupled with a SWOT analysis.
- Conclusion and Strategic Recommendations: Final insights and actionable recommendations for stakeholders.
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