According to the report by Allied Market Research, titled, "Analgesics Market by Type (Non-opioids, Opioids) and Route of Administration (Oral, Intravenous, Rectal, Transdermal, Topical) - Global Opportunity Analysis and Industry Forecast, 2022 - 2028″. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Frequent pain and aches experienced by the ageing population, increasing incidences of cardiovascular disease (CVD), cancer, & arthritis, and rising investments in R&D by the public & private sectors, with key focus on the classes of compounds to formulate new therapeutics, are the major factors boosting the market growth. However, factors such as uncontrolled prescriptions of opioids and drug abuse, leading to approximately 28,000 deaths in the U.S. every year, and insufficient regulatory guidelines, especially against opioid analgesics, are likely to impede the market growth. Furthermore, the increase in popularity of personalized medicine is expected to provide numerous growth opportunities for the analgesics market in the near future.
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The oral analgesics segment held about half of the market share in 2015, and is anticipated to maintain this trend throughout the forecast period. This is mainly attributed to the higher use of oral analgesics as compared to intravenous and topical analgesics. Economical cost, ease of availability, and high popularity of oral analgesics are the key factors responsible for the dominance of this segment.
Comprehensive competitive analysis and profiles of major market players, such as
- Bayer AG, Novartis AG
- GlaxoSmithKline PLC
- Pfizer Inc.
- Johnson & Johnson
- Reckitt Benckiser (RB)
- Endo Pharmaceuticals
- Bristol-Myers Squibb
- Eli Lilly and Company
- Sanofi S.A.
North America accounted for a major share of the overall analgesics market revenue in 2015, owing to large number of pharmaceutical companies in this region. The analgesics market in developing economies, such as China and India, has numerous growth opportunities because of the availability of cheap raw materials and economical workforce. The global analgesics manufacturers are relocating their facilities into developing economies by agreements or acquisitions with local players. Moreover, increasing use of analgesics in countries such Nigeria, China, and India supports the growth of analgesics in developing economies.
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