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Analgesics Market Research Report: Information By Drug Class (Opioids, NSAIDs, Local Anesthetics, and Acetaminophen), By Indication (Surgical Pain, Cancer Pain, Neuropathic Pain, and Others), By Type (Prescription, and OTC), By Application (Internal Analgesics, and External Analgesics), By Route of Administration (Oral, Parenteral, Transdermal, and Others), By Distribution Channel (Hospital pharmacies, Retail pharmacies, Drug Stores, and Online pharmacies), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast to 2032
According to MRFR analysis, the global Analgesics Market is expected to register a CAGR of 6.50% from 2023 to 2032 and hold a value of over USD 69.1 billion by 2032.
The global analgesics market has witnessed significant growth and transformation in recent years, driven by the increasing prevalence of pain-related conditions and a growing aging population. Analgesics, commonly known as pain relievers, play a crucial role in managing various types of pain, ranging from mild to severe. This market encompasses a wide array of products, including over-the-counter (OTC) pain relievers and prescription medications, catering to diverse consumer needs.
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The increasing prevalence of chronic pain conditions, coupled with an aging population globally, fuels the demand for effective pain management solutions. Additionally, advancements in drug delivery systems and formulations enhance the efficacy and safety of analgesic medications, further driving market growth.
Segmentation
The global analgesics market has been segmented based on drug class, indication, type, application, route of administration, and distribution channel.
On the basis of drug class, the market is segmented into opioids, NSAIDs, local anesthetics, and acetaminophen. The NSAIDs segment was attributed to holding the largest market share in 2022. The growing senior population and increased frequency of musculoskeletal illnesses are the main drivers of category growth in developing nations.
Based on indication, the global analgesics market has been segmented into surgical pain, cancer pain, neuropathic pain, and others. The surgical pain segment was expected to hold the largest market share in 2022. An ageing population combined with advances in medical technology has led to an increase in the number of surgical operations done worldwide. Moreover, attaining these objectives depends on efficient pain management, which encourages medical professionals to give analgesics first priority when treating surgical pain, which boosts sales.
Based on type, the global analgesics market has been segmented into prescription, and OTC. The OTC was expected to hold the largest market share in 2022. Growing consumer trend towards self-medication and self-care, motivated by elements like empowerment, accessibility, and ease of use. Furthermore, over-the-counter pain relievers are extensively offered in places including pharmacies, supermarkets, and convenience stores.
Based on application, the global analgesics market has been segmented into internal analgesics, and external analgesics. The internal analgesics was expected to hold the largest market share in 2022. Ageing populations and sedentary lifestyles are contributing to the global rise in the prevalence of chronic pain diseases such neuropathic pain, arthritis, and migraines. Furthermore, pharmaceutical firms are always coming up with new ideas to enhance the tolerance, safety, and effectiveness of internal analgesics.
Based on route of administration, the global analgesics market has been segmented into oral, parenteral, transdermal, and others. The oral was expected to hold the largest market share in 2022. Because eating a pill or tablet is simple, self-medication is encouraged and accepted by the public, which boosts oral analgesic sales. Additionally, patients are more likely to accept alternative delivery methods such injections, transdermal patches, and oral analgesics, which promotes regular use and higher sales.
Based on distribution channel, the global analgesics market has been segmented into hospital pharmacies, retail pharmacies, drug stores, and online pharmacies. The retail pharmacies was expected to hold the largest market share in 2022.
Key Players
Major key players in the global Analgesics Market— Abbott, Pfizer Inc., Eli Lilly & Company, GSK plc., F. Hoffmann-La Roche AG, Bausch Health Companies Inc., Merck & Co. Inc., AbbVie Inc., Novartis AG, and Johnson & Johnson Private Limited.
Regional Analysis
The global analgesics market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe analgesics market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The analgesics market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World analgesics market comprises of Middle East, Africa, and Latin America.
The largest market share for analgesics was maintained by the North American regional sector due to increasing prevalence of sports injuries and musculoskeletal disorders among the active population propels the demand for analgesics. Moreover, the region’s robust healthcare infrastructure and high healthcare spending encourage widespread access to pain relief medications. Additionally, the rising opioid epidemic fosters a shift towards non-opioid alternatives like NSAIDs and acetaminophen, further boosting analgesic sales. Furthermore, growing consumer awareness and emphasis on holistic pain management approaches drive the adoption of complementary therapies alongside traditional analgesics.
Moreover, the Europe market has been persistently growing over the forecast period. Europe’s aging population and rising incidence of chronic conditions like arthritis and back pain drive the demand for analgesics. Additionally, stringent regulatory frameworks ensure the safety and quality of analgesic medications, fostering consumer trust and confidence. Moreover, the increasing preference for self-care and over-the-counter (OTC) medications in Europe contributes to higher analgesic sales. Furthermore, the region’s emphasis on personalized medicine and patient-centric healthcare approaches fuels the development of innovative analgesic treatments tailored to individual needs.
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Additionally, in the Asia Pacific, rapid urbanization and lifestyle changes contribute to an increase in stress-related conditions and chronic pain disorders, driving the demand for analgesics. Additionally, the growing middle-class population in emerging economies leads to greater healthcare awareness and affordability, resulting in higher analgesic sales. Furthermore, cultural acceptance of traditional medicine alongside modern analgesics offers a diversified approach to pain management, expanding the market further. Moreover, the region’s large population and increasing access to healthcare services through technological advancements contribute to rising analgesic consumption.
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