Pharmaceutical Drugs Industry Overview

The anti-hypertensive drugs market consists of sales of anti-hypertensive drugs and related services. These drugs are re used to prevent heart failure, kidney failure and acute stroke induced by hypertension. Some of the major anti-hypertensive drugs include Diuretics, Angiotensin-converting enzyme (ACE) inhibitors, and Angiotensin II receptor antagonists. The global anti-hypertensive drugs market is expected to decline from $26.1 billion in 2019 to $23.5 billion in 2020 at a compound annual growth rate (CAGR) of -9.7%. The decline is mainly because of the lockdown measures due to the COVID-19 outbreak. The decrease in the number of cardiac surgeries due to re-scheduling of surgeries, cancellations and no-show by patients, decrease in consultations due to restrictions by government and health authorities to provide only emergency services, and less heart disease admissions contribute to this decline. However, the decline is not significant as research showed that the covid patients developed cardiovascular complications, and therefore health authorities advised covid and non-covid cardiac patients to continue the use of CVD drugs. The market is then expected to recover and grow at a CAGR of 2.8% from 2021 and reach $27.7 billion in 2023. North America was the largest region in the anti-hypertensive drugs market. This region is expected to remain the largest during the next five years. The anti-hypertensive drugs market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023. Sedentary lifestyle is a major driver for the growth of the anti-hypertensive drugs market. Consumption of junk food, lack of proper healthy and balanced diet, lack of proper sleep due to irregular workshifts have contributed to the increase in hypertension. Hypertension is the underlying factor for at least 45% of deaths due to heart disease and 51% of deaths due to stroke. Once the patient is diagnosed of hypertension, patients are required to use the drugs to control hypertension based on the severity of the condition. This creates a sustainable demand for the product and acts as a prominent driver for the growth of the market. Low awareness of the antihypertensive drugs amongst the population is one of the major restraints in the Anti-Hypertensive Drugs market. Firstly, most of the people in developing nations neglect their health-checkups and are not aware about the existing hypertension condition in them until they detect extreme symptoms Secondly, persons diagnosed with hypertension are not adherent to their medication schedule and stop taking medication after 1-2 weeks until symptoms return, thereby posing a huge challenge to the anti-hypertensive drugs market. For example, in the year 2016, BMC Research notes published a research survey (from a developing country) which states that out of the total 112 hypertensive subjects with stroke, only 17% of them were adherent to antihypertensive medications. Lack of awareness and low drug adherence restraint the growth of antihypertensive market. Of late, there has been rise in use of combination therapies compared to monotherapy treatment. Monotherapy is the treatment of a hypertension with a single drug, while the use of combinations of drugs (Combination Therapy) allows for action on several different hypertensive mechanisms. When we combine the two drugs with different mechanisms of action, the effect is two to five times greater than monotherapy. Increasing the dose of monotherapy reduces coronary events by 29% and cerebrovascular events by 40%, while combining two antihypertensive agents with a different mechanism of action reduces coronary events by 40% and cerebrovascular events by 54%. Thus, the use of combination therapy provides greater protection to a target organ than increasing the dose of monotherapy. The trend of using combination therapy is thus more effective and is being widely accepted as well. The US Food and Drug Administration (FDA) issued a guidance on developing fixed-combination drugs to treat hypertension. This primarily focuses on the clinical development of two-drug combinations of previously approved products. US FDA expects to see a reduction in adverse effects for combinations that include doses below each drugs’ maximum dose compared to single drug regimens at their maximum dose. Earlier physicians typically started a patient on a single drug and titrated up to a maximum dose before adding additional drugs to their programme, current guidelines recommend starting patients on two drugs at less than their full doses. Hence, this guidance would keep a check on the fixed-combination drugs.

The acne drugs market consists of sales of prescription acne drugs (Salicylic acid, Retin-A Micro, Onexton, and Solodyn) and related OTC non-prescription products (cleansers, lotions, gels, toners, masks and pads containing acne-fighting ingredients) which are used to treat skin diseases such as acne vulgaris and acne rosacea. Based on the type of acne, this market is segmented into inflammatory acne and Non-Inflammatory acne. Market in this report does not include the sales of drugs used for Dermatitis and Psoriasis. The global acne drugs market is expected to decline from $4.6 billion in 2019 to $3.9 billion in 2020 at a compound annual growth rate (CAGR) of -15%. The decline is mainly because of drop in sales due to the lockdown measures to contain COVID-19 spread. Apart from restricting non-emergency medical services, new rules of the governments across the globe has forced many companies in the dermatology drug market to halt their business operations which has impacted the market growth. The market is then expected to recover and grow at a CAGR of 4.3% from 2021 and reach $5.7 billion in 2023. North America was the largest region in the acne drugs market in 2018. This region is expected to remain the largest during the next five years. Among the countries, the USA acne drugs market was the largest. The acne drugs market in India is forecasted to register the highest CAGR during 2018-2023. An increase in the disposable income of people is one of the major drivers in the acne market. An increase in the disposable income is usually due to an improved economy leading to increased wages and salaries boosting healthcare expenditure. In 2018, Disposable Income in India increased 13.67% when compared to 2017 i.e. from 169 million INR to 192 million INR. Rise in disposable income increased expenditure on facial care products is expected to continue, thereby driving the market in the forecast period. Acne is a major problem worldwide, close to 90% of people suffer from some sort of acne. In America alone, close to 12 million people suffer from a severe acne problem, that can lead to scarring of the skin if left untreated, as a result many people purchase Acne care drugs and products. The presence of alternatives for acne treatment is one of the restraint on the acne drugs market. Due to availability of multiple alternatives, patients tends to choose one amongst many options on the basis of price, side effects, duration and many more. This increases the competition and hence, the competition cuts down a significant portion of business for the acne drugs market. For example, some of the alternatives for the acne treatment apart from acne drugs are Ayurveda, home remedy, laser and photodynamic therapy and extraction of whiteheads and blackheads using special tools like needles and forceps. Combination therapy is the latest trend in the acne market. Combination therapy is the process of combining two drugs with different mechanisms of action, such combinations of medication have a better efficacy and adherence when compared with monotherapy (the use of only a single drug by itself).The combination of a topical retinoid drug, which unclogs the pores, along with an antimicrobial drug, which is used to treat an infection is being used to treat acne. Example of combination therapy includes: Epiduo, Acanya, Ziana and Benzamycin produced by Galderma, Allergan, Medicis and Atrix respectively. The stringent regulations concerning the usage of drugs to treat Acne has an impact on the acne drugs market. The regulations have become stringent due to the various side-effects and adverse events caused during the course of treatment. Recently in India, the Central Drugs Standard Control Organization (CDSCO) has issued a warning regarding the safety guidelines concerning the use of the oral drug, Isotretinoin. The CDSCO has directed the State and Union Territories’ drugs controllers to check the labeling of Isotretinoin drug and make the end users aware of the serious birth defects the drug may cause. Further, the Subject Expert Committee (SEC) for Dermatology and Allergy has recommended that the drug should be sold only on the prescription of a dermatologist, manufacturers should provide a package insert in local languages and the retail chemists should maintain the details of retail sale of the drug. Hence, these strict guidelines and regulations would impact the growth of acne drugs market. In March 2019, Allergan acquired Envy Medical Inc. o at an undisclosed price. This deal will help Allergan reinforce their goal towards providing customers with enhanced skin care solutions. Envy medicals technology used in skin resurfacing procedures like Dermalinfusion, which is a non-surgical, non-invasive skin resurfacing system will immensely help Allergan gain a strong presence in the acne market. Allergan plc is a pharmaceutical company established in 1948 and headquartered in Dublin, Ireland.

The dermatitis drugs market consists of sales of dermatitis drugs such as corticosteroids, calcineurin inhibitors, PDE4 inhibitors which are used to cure inflammation of the outer layer of the body, characterized by itchy rashes on swollen and reddened skin. Some of the major dermatitis drugs include Triamcinolone, Clobetasol, Betamethasone, Hydrocortisone, Fluocinonide and Clobex. The global dermatitis drugs market is expected to decline from $5.4 billion in 2019 to $4.7 billion in 2020 at a compound annual growth rate (CAGR) of -13.9%. The decline is mainly because of drop in sales due to the lockdown measures to contain COVID-19 spread. Apart from restricting non-emergency medical services, new rules of the governments across the globe has forced many companies in the dermatology drug market to halt their business operations which has impacted the market growth. The market is then expected to recover and grow at a CAGR of 5.7% from 2021 and reach $7.1 billion in 2023. North America was the largest region in the dermatitis drugs market. The dermatitis drugs market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023. Growth in Atopic Dermatitis market is primarily driven by the increasing global prevalence of the disease. Prevalence of dermatitis in children is estimated to be around 15-20% while it is 1-3% in adults. The rising cases of food allergies are adding to the prevalence of dermatitis which ultimately leads to the increase in demand for the medicines to cure this disease. For example, a study conducted in Norway highlights that the overall incidence rate of atopic dermatitis has increased from 0.028 per person year in 2009 to 0.034 per person year in 2014. The strict government regulations are one of the restraints for the dermatitis drug market. Atopic Dermatitis (eczema) usually occurs at a very early stage (0-5 years). In order to find the efficacy and efficiency of drug, it has to be tried on the every type of patients. The effects of certain drugs in adults are quite different than in children, as a reason results of the clinical trial cannot be used for the production of drug that will be served to the children. This hinders the research and requires more efforts in clearing regulation set by FDA. For example, as the patient population is largely children, FDA in its CFR Code Title 21, Part 50 Protection of Human Subjects, and subpart D has laid down guidelines for the additional safeguard for children in clinical investigation. The regulation is in compliance with Children’s Health Act of 2000 that requires all the children subjected to clinical trial be given additional protection. The Dermatitis market has witnessed a trend of increasing Mergers and Acquisitions (M&As), done with the purpose of business expansion and increasing visibility. M&As are playing a significant role in today`s world and are assumed to expand this market in the years to come. The vendors in this industry are focusing on collaboration and partnerships to expand their portfolio and improve market presence. Companies are also strategically making M&As with a view to reduce competition and increase the scalability of their business. For example, Stiefel Laboratories has been able to successfully widen its global reach after it was acquired by Glaxo Smith Kline. Also Biofrontera, Inc., a specialist in dermatology market acquired Cutanea Life Sciences, Inc.in 2019 for $7.3 million to increase their capital base and scale the business. The dermatitis drugs market is governed by several regulatory bodies that require the drug manufacturers to get approvals from the concerned authorities before launching their medicines into the market. Two such major regulatory bodies are PMDA (Japan) and CDSCO (India) that carry out quality checks before declaring the drugs suitable for consumption. PMDA reviews the products with an aim to ensure safety, quality and efficacy of pharmaceuticals and then approves the products that are suitable in every parameter. Similarly CDSCO is the central drug authority that is responsible for the approval of new drugs in India. These tedious approval processes makes the drugs more effective and safe, thereby having a positive impact on the dermatitis drugs market.

The psoriasis drugs market consists of sales of psoriasis drugs. Psoriasis is a persistent skin disorder which causes distress and pain through patches of abnormal skin. Psoriasis can be caused due to injuries to skin, medications, genetics, infection, diet, weather, etc. The drugs vary depending on the severity of the infection and provide relief from infections. Examples of drugs in the psoriasis market include Clobetasol (Temovate), triamcinolone (Aristocort), fluocinolone (Synalar), and betamethasone (Diprolene). The global psoriasis drugs market is expected to decline from $16.2 billion in 2019 to $14.4 billion in 2020 at a compound annual growth rate (CAGR) of -10.8%. The decline is mainly because of drop in sales due to the lockdown measures to contain COVID-19 spread. Apart from restricting non-emergency medical services, new rules of the governments across the globe has forced many companies in the dermatology drug market to halt their business operations which has impacted the market growth. The market is then expected to recover and grow at a CAGR of 9.5% from 2021 and reach $24.4 billion in 2023. North America was the largest region in the psoriasis drugs market in 2018. This region is expected to remain the largest during the next five years. The psoriasis drugs market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023. The rise in the prevalence of psoriasis patients is driving the Psoriasis market. Psoriasis is caused due to immune system, genetics and environment. The rise in psoriasis patients in the past few years can be mainly attributed to climate change, stress and unhealthy lifestyle. According to the World Health Organization (WHO), psoriasis had affected at least 100 million individuals worldwide in 2016. The high cost of psoriasis therapy is a restraint for the psoriasis market. According to a study conducted by JAMA Dermatology in 2019, the typical psoriasis treatments with biologics are very costly, ranging between $10,000 and $25,000 per year. The high cost is because patent protections are preventing many alternative drugs. Combination therapy is an emerging trend in the psoriasis market. Combination therapy is an f treatment that combines two different psoriasis treatments at the same time. When two drugs with different mechanisms of action are combined (combination therapy), the effect is greater than that obtained by monotherapy (treatment with a single drug). Studies suggest that combination therapy eases psoriasis symptoms more effectively than a single therapy and has lesser side effects. An example of combination therapy for the treatment of active psoriatic arthritis (PsA) is taltz (ixekizumab) with methotrexate developed by Eli Lilly and Company. The process of approval of psoriasis drugs is becoming easier globally. This is evident from the increasing approvals of drugs for psoriasis in the recent years. Some of the examples include the first regulatory approval of SKYRIZI™ (risankizumab) for the treatment of plaque psoriasis in Japan in 2019, and the approval of a new treatment for plaque psoriasis in Europe in 2018. Hence, the increasing ease of drug approvals is expected to drive the psoriasis drugs market in the coming years.

The antacids market consists of sales of antacids which are used to neutralize stomach acid, and treat acid reflux, heartburn and indigestion. It includes drug class such as proton pump inhibitors, H2 antagonist, surgical simulators and acid neutralizers in the form of either tablet, liquid or powder. Examples of antacids include Alka Seltzer, Maalox, Mylanta, Rolaids, Tums and Pepto-Bismol. The global antacids market is expected to decline from $3.6 billion in 2019 to $3.1 billion in 2020 at a compound annual growth rate (CAGR) of -13.9%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. COVID-19 pandemic is affecting industries across the globe including the pharmaceutical sector. The disruptions due to extended factory closures in various countries, shortage of APIs and other chemicals, rise in prices of key ingredients, and slowed production are the key factors for this decline. The market is then expected to recover and grow at a CAGR of 3.9% from 2021 and reach $3.8 billion in 2023. North America was the largest region in the antacids market in 2018. Asia Pacific and Latin America respectively. Poor lifestyle choices resulting in higher prevalence of acidity is an important driver for the growth of the antacids market. Poor lifestyle choices involve deskbound jobs, poor quality of sleep and irregular dietary habits, which result in an increase in acidity level of the stomach and lead to gastroesophageal reflux disease. According to the American College of Gastroenterology, around 60 million Americans suffers from gastroesophageal reflux disease. This drives the demand for antacids. The side effects related to antacids is a major restraint for the antacids market. Some of the common side effects of antacids include dose-dependent rebound hyperacidity and milk-alkali syndrome. Antacids containing aluminum hydroxide may also cause side effects such as constipation, aluminum-intoxication, osteomalacia, and hypophosphatemia. In addition, antacids when consumed with other acidic drugs might lead to absorption of both the drugs resulting in reduced efficiency of both the drugs. Mouth-melting antacid is an emerging trend in the antacid market. Antacids were available in tablet, liquid and powder form until now, however, researchers have now come up with mouth-melting antacids which are made up of micro mouth melting granules that easily melt in the mouth. These granules present in the antacids act in the form of effervescent. An example of a mouth melting instant relief antacid is Sunpharma`s Pepmelt, which integrates the effects of herbal constituents present in it with the contemporary mouth melting technology. The manufacturers of antacids in the USA need to comply with CFR - Code of Federal Regulations Title 21 laid down by the FDA. According to these regulations, an over-the-counter (OTC) antacid product in a form suitable for oral administration is recognized safe and effective only if it meets the conditions related to active ingredients established by the regulatory body. In March 2018, GlaxoSmithKline (GSK) acquired Novartis for $13 billion. This acquisition would help GSK`s shareholder to seize the full worth of Novartis consumer healthcare business. Also, it would help GSK expand its pharmaceutical portfolio. Novartis is a pharmaceutical firm manufacturing innovative drugs. It was founded in 1996 and is headquartered in Basel, Switzerland.

The antiglaucoma drug market consists of sales of antiglaucoma drugs which are used in the treatment of glaucoma. Glaucoma is a disease in which the optic nerve is damaged resulting into irreversible loss of vision and it is often associated with increased pressure of the fluid in eye. The market comprises of segments such as alpha agonists, beta blockers, prostaglandins, combined medication and other. The market does not include the sale of biologics used for the treatment of glaucoma. The global antiglaucoma drugs market is expected to decline from $6.6 billion in 2019 to $5.2 billion in 2020 at a compound annual growth rate (CAGR) of -21.3%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. COVID-19 pandemic is affecting industries across the globe including the pharmaceutical sector. The restrictions on non-essential medical services including ophthalmology services coupled with slowed production of drugs due to extended factory closures in various countries, shortage of APIs and other chemicals, and rise in prices of key ingredients are the key factors for this decline. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $8 billion in 2023. The antiglaucoma drugs market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The North American Market is the largest market for antiglaucoma drugs and is expected to continue to do so during the forecast period. Incidence of glaucoma increases with age and due to increase in the geriatric population worldwide, governments are launching initiatives to promote awareness on glaucoma and other eye disorders. For instance, the Vision Health initiative by Centers for Disease Control and Prevention (CDC) in the USA aimed to prevent eye disorders including glaucoma and improve the overall eye health. In Australia, the government funded an eye screening program as part of its Vision 2020 initiative to promote awareness and prevent vision loss among the population suffering from glaucoma and other eye disorders. These government initiatives will stimulate the awareness among the people on glaucoma driving the market for anti-glaucoma drugs. Anti-glaucoma drugs are facing the risk of patent expiration in the USA and Europe. For instance, travaprost and bimatoprost, which are used in the treatment of glaucoma, will lose its patent in 2021. This will result in the launch of generic form of the drugs that are priced lower than branded drugs thereby reducing the overall market growth. Companies in the antiglaucoma drugs market are developing combination therapies in the treatment of glaucoma disease due to their ability to lower intraocular pressure in glaucoma patients. Most of the combinations therapies are fixed dose drugs as it offers patient the ease of consumption when compared to non-fixed combinations. In 2017, Alcon launched a combination drug, Simbrinza which is fixed combination of Brinzolamide and Brimonidine, to help patients in reducing the intake of multiple drugs for glaucoma. To get an antiglaucoma drug approved by the United States Food and Drug Administration (USFDA), drug should have comparable intraocular pressure (IOP) lowering efficacy and benefit-to-hazard ration with respect to the benchmark drug. In 2018, Rhopressa (netarsudil) Ophthalmic Solution by Aerie Pharmaceuticals Inc., was approved by the US FDA considering its ability to lower IOP when compared to benchmarked drugs for glaucoma in the market. In 2018, Astellas Pharma Inc. acquired Quethera Ltd., a gene therapy company based in the UK. With this acquisition, Astellas has gained authority over Quethera`s ophthalmic gene therapy program which focuses on developing novel treatment for ocular diseases such as glaucoma.

The hypolipidemic drugs market consists of sales of hypolipidemic drugs and related services. This industry includes establishments that produce hypolipidemic drugs or agents that lower lipid and lipoproteins levels in the blood. These drugs can be used to prevent cardiovascular diseases and atherosclerosis in Hyperlipidemia patients. Some of the major hypolipidemic drugs include fibric acid derivatives, bile acid binding resins, nicotinamides, and cholesterol absorption inhibitors. The global hypolipidemics market is expected to decline from $17.6 billion in 2019 to $15.8 billion in 2020 at a compound annual growth rate (CAGR) of -10.3%. The decline is mainly because of the lockdown measures due to the COVID-19 outbreak. The decrease in the number of cardiac surgeries due to re-scheduling of surgeries, cancellations and no-show by patients, decrease in consultations due to restrictions by government and health authorities to provide only emergency services, and less heart disease admissions contribute to this decline. However, the decline is not significant as research showed that the covid patients developed cardiovascular complications, and therefore health authorities advised covid and non-covid cardiac patients to continue the use of CVD drugs. The market is then expected to recover and grow at a CAGR of 3.2% from 2021 and reach $18.3 billion in 2023. Shifts in diet and change in lifestyles of people is driving the growth of hypolipidemic drugs market. Increase in the consumption of unhealthy food, rising prevalence of smoking and drinking have led to an increase in the level of cholesterol intake by the people. In 2016, according to Centers for Disease and Control and Prevention, 12% adults aged 20 and more in America had high cholesterol levels which accounts to nearly 29 million adults having cholesterol levels above 240 mg/dL. In 2016, 7% of the children and adolescents aged between 6 to 19 years have high cholesterol in the USA. The rising levels of cholesterol due to change in lifestyles of the people is rising demand for hypolipidemic drugs as they aid in lowering the cholesterol levels. The growth in the usage of biologics acts as a prime restraint that hinders the hypolipidemic drug market growth. Biologics are derived from living organisms like human beings, animals and microorganisms, different from chemical drugs or chemically synthesized drugs. The increasing preference towards hypolipidemic biologic medicines due to side effects concerns of using chemical synthesized drugs leads to decrease in the sales of traditional hypolipidemic chemical drugs and hence, hindering the hypolipidemic drug (chemical) market growth. According to Harvard Medical School, 10%-29% people who consume hypolipidemic drugs such as cholesterol-lowering statin drugs are suffering from muscle pains and aches. For instance, PCSK9 Inhibitors have been in use since 2015, to reduce LDL cholesterol. In the year 2017, Amgens’ Repatha, a hypolipidemic biologic medicine, got the FDA approval for the treatment of hypolipidemia. Companies in this market are increasingly investing in using data generated from wearables in clinical trials to improve the speed, and efficiency of trials, and therefore reduce overall costs. By continuously capturing data from patients via wearable technologies, clinical trial sponsors may be able to reduce the burden of frequent site visits, which could improve patient dropout rates and overall clinical trial efficiencies. The use of wearables helps to tackle the challenge of patient recruitment, helps in monitoring patients, gives accurate and real time data and gives earlier decision-making opportunities, while the patient is undergoing a clinical trial. Pharmaceutical companies such as Sanofi and Pfizer have already invested in wearable technology to treat hypolipidemia. The EU agencies take 6 to 12 months to approve the hypolipidemic drugs. Moreover it requires all parts of the registration dossier to be submitted together unlike the US-FDA which accepts phased submissions. The US-FDA assess each technical section in 6 months which may increase to another 6 months if questions/concerns are raised. However, the technical sections’ assessment is done simultaneously and therefore the manufacturers should identify the time taking steps and plan the work accordingly and chalk out an estimated date of approval. Also, the license validity and renewal of the application in EU region takes a toll on the manufacturer and adds to the existing regulatory burden. Therefore, the manufacturers hypolipedimic drugs should plan well, communicate effectively in order to minimize the costs and reduce timelines.

The analgesics or analgesic drugs market consists of sales of analgesic drugs and related services. Analgesic drugs include opioids, non-steroidal anti-inflammatory drugs (NSAIDs), local anesthetics and Acetaminophen. These drugs can be administrated orally, intravenous, rectal, transdermal or topical. Analgesics drugs are generally distributed by channels including hospital pharmacies, retail pharmacies, drug stores or clinics. Analgesics also known as pain killers are used to treat mild or severe pain, including musculoskeletal pain, surgical, trauma pain, cancer pain or other type of pains. Examples of analgesics includes codeine, hydrocodone, oxycodone and methadone. The global analgesics market is expected to grow from $68.2 billion in 2019 to $78.1 billion in 2020 at a compound annual growth rate (CAGR) of 14.7%. This growth is mainly due to the COVID-19 outbreak and the neuroinvasive nature of the virus. The CNS is more prone to the viral infection. The virus affects the senses of smell and taste and therefore it is important to curb the interaction between the viral protein and the human receptor, and this factor is driving the demand for CNS drugs. The market is then expected to grow at a CAGR of 5.5% from 2021 and reach $91 billion in 2023. The analgesics market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for Analgesics and is expected to continue to be the largest market during the forecast period. Significant rise in prevalence of chronic diseases is driving the analgesics Market. Analgesic drugs, also known as painkillers, are used to treat and reduce chronic or severe pain in the body resulting from various medical conditions. According to a study conducted by Institute of Medicine of The National Academies in 2017, around 100 million people were suffering from chronic pain in the USA. Similarly, as of 2017, one in five people were suffering from chronic pain in Europe. Also, there has been an increase in prevalence of diseases like cancer which increases the number of people suffering from chronic pain. The growth of analgesics market is restricted by the increasing use of biologics for the treatment of inflammatory and neuropathic pain. Biologics are drugs produced from living organisms and include a number of components derived from human, animals or microorganisms. These drugs may contain protein, modified human hormones, or cells that produce substances that suppress or activate parts of the immune system. Biologics can provide greater efficacy compared to analgesics, which provide effective pain relief to only 50% of the patients, and is thus widely used nowadays. Rising demand for biologics can adversely impact the growth of the Analgesics market. In 2017, Pfizer and Lilly were granted approval by the FDA for developing Tanezumab, a biologics medicine. Companies in the analgesics market are increasingly focusing on acquisition as a strategy for growth. Leading analgesic drug manufacturers are acquiring smaller companies to gain competitive advantage and strengthen their market position. These acquisitions are helping companies to expand geographically and gain specialized expertise in research and development of new products. For instance, Analgesic Solutions, LLC was acquired by WCG in the 2019. WCG intends to make use of superior R&D capability of Analgesic Solutions, LLC to grow and position itself as a market leader in the Analgesic Market. Similarly, in 2018, Aurobindo Pharma had acquired Sandoz for $900 million. The US Food and Drug Administration (FDA) and the UK`s Medicines and Healthcare products Regulatory Agency are some of the regulatory bodies that regulate the Analgesic Market. For instance, FDA has provided guidelines on manufacturing process of analgesics, and safety measures regarding use of both opioid and non- opioid analgesics. FDA also regulates and monitors misuse and abuse of opioid analgesics. Opioid analgesics are prohibited to be sold without proper medical prescription. Similarly, the Medicines and Healthcare products Regulatory Agency in the UK safeguards the public interest through effective regulation of analgesics drugs. In September 2018, Aurobindo Pharma acquired the US business unit of Sandoz, a division of Novartis, for $900 million. This acquisition would help Aurobindo Pharma to widen its product portfolio in analgesics market. This acquisition would provide Aurobindo Pharma access to three drug manufacturing facilities of Sandoz, thus boosting its production capacity. Moreover, this acquisition would help Aurobindo Pharma to penetrate the US market. Sandoz was founded in 2003 and is headquartered in Holzkirchen, Germany.