According to the latest report by IMARC Group, titled “Analgesics Market: Global Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global analgesics market size reached US$ 48.2 Billion in 2019. Analgesics are a type of drugs designed to relieve or control pain. Most of these drugs act on the body’s peripheral and central nervous systems to reduce or block sensitivity to pain. However, some of the analgesics work by preventing the formation of certain chemicals in the body that mediate pain. These painkillers are prescription-only medicines that are used strictly under doctor’s instruction and recommendation. They are used to treat moderate to severe pain including backache, neck pain, pre-menstrual and menstrual pain, and muscle pain.
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According to the estimates by the World Health Organization (WHO), the population aged 60 years and older will outnumber children younger than five years by 2020. Since many studies have suggested that chronic pain is more common amongst the aged population, the growing proportion of older people will act as a significant factor contributing to the sales of analgesics. Apart from this, healthcare companies are investing in R&D activities to advance the combination of existing compounds to develop novel analgesics with improved efficacy and lesser side effects. Moreover, the United States Food and Drug Administration (USFDA) has launched a national education campaign to provide guidance to patients and create awareness about the safe use of OTC analgesics. This has led to a rise in the demand for these medicines, thereby providing positive thrust to the market in the region. Looking forward, the analgesics market market to exhibit moderate growth during the next five years.
Market Breakup by Type:
Prescription analgesics currently represent the most popular drug type across the globe.
Market Breakup by Route of Administration:
At present, oral drugs dominate the market, holding the largest share.
Market Breakup by Drug Class:
Amongst these, opioids represent the leading segment, accounting for the majority of the total analgesics market share.
Market Breakup by Pain Type:
Other types of pain include surgical and trauma pain, cancer pain, neuropathic pain, migraine, obstetrical pain, fibromyalgia, pain due to burns, dental/facial pain and pediatric pain.
Market Breakup by Application:
They are intended for internal use and are either taken by mouth in the form of pills and liquids or inserted into the rectum in suppository form.
Region-wise, North America exhibits a clear dominance in the market. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America. The competitive landscape of the market has also been analyzed with some of the key players being:
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