DUBLIN--(BUSINESS WIRE)--The "Analgesics Market By Type, By Route of Administration: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global analgesics market was valued at $26,654.4 million in 2020, and is projected to reach $50,682.6 million by 2030, registering a CAGR of 6.6% during the forecast period 2021-2030. Analgesics, also known as painkillers, are used to treat and reduce pain in the body.
Typically, they are used when the pain is severe and becomes unbearable for the patient. Non-opioids, opioids, and compound analgesics (a combination of both, opioids and non-opioids) are the major analgesic products used globally. The emergence of painkillers is mainly attributed to the increase in acute and chronic diseases, as well as the rise in incidences of cancer globally.
Opioid drugs are the strongest types of painkillers, which are derived from opium. They are chiefly used for the treatment of moderate to severe pain and are mostly available through prescription. On the other hand, non-opioid drugs are not derived from opium but include acetaminophen.
They also include non-steroidal anti-inflammatory drugs (NSAIDs) and are majorly used for the treatment of mild to moderate pain. In addition, non-opioid drugs are sometimes used alongside stronger painkillers. They are mostly available over-the-counter (OTC); however, some NSAIDs, such as Celebrex, Cataflam, and Motrin, are available through prescription only.
The global analgesics market is expected to achieve moderate growth in the near future, majorly because of factors, such as increase in cardiovascular disease, cancer, and arthritis and surge in geriatric population. Recurring pain and aches experienced by the ageing population is another factor drives the market growth.
In addition, increase in investments in R&D by public and private sectors, with key emphasis on the classes of compounds for formulating new therapeutics, is further expected to drive the analgesics market growth. However, factors such as uncontrolled prescription of opioids, drug abuse, and unregulated government policies are expected to restrain the growth of the global analgesics market.
Key Benefits For Stakeholders
- This report provides a detailed - Quantitative analysis of the current market trends and future estimations from 2021 to 2030, which assists to identify the prevailing market opportunities.
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the analgesics market is provided.
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
Key Market Segments
By Type
- Non opioids
- Opioids
By Route of Administration
- Rectal
- Transdermal
- Topical
- Oral
- Intravenous
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- Spain
- Sweden
- France
- Russia
- Denmark
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Saudi Arabia
- UAE
- Morocco
- Kenya
- Nigeria
- Brazil
- Venezuela
- Chile
- Rest of LAMEA
Key Market Players
- Abbott Laboratories
- AbbVie Inc.
- Bayer AG
- Eli Lilly and Company
- endo pharmaceuticals
- Glaxosmithkline plc
- johnson and johnson md&d
- Pfizer, Inc.
- Reckitt Benckiser Group
- Sanofi
For more information about this report visit https://www.researchandmarkets.com/r/6h4fg4
