Global Analgesics Market Report 2022 – Market Forecast, Trends And Strategies
20 May, 2022
The global analgesics market size is expected to grow from $104.72 billion in 2021 to $110.08 billion in 2022 at a compound annual growth rate (CAGR) of 5.1%. The change in the analgesics market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $127.15 billion in 2026 at a CAGR of 3.7%.
What is the Global Analgesics Market?
The analgesics market consists of sales of analgesic drugs and related services. 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
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What drives the Global Analgesics Market?
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 U.S. Centers for Disease Control and Prevention National Center for Health Statistics briefing published in 2019, around 20% of the USA population suffer from chronic pain in the USA. Also, there has been an increase in prevalence of diseases like cancer which increases the number of people suffering from chronic pain.
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Global Analgesics Market Segments
The global analgesics market is segmented:
By Type: Non-Opioids, Opioids
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Drug Stores
By Route of Administration: Oral, Intravenous, Rectal, Transdermal, Topical
By Drug Type: Prescription Analgesics, OTC Analgesics
By Application: Internal Analgesics, External Analgesics
By Geography: The regions covered in the analgesics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Analgesics Global Market Report 2022provides market size and growth forecasts for the global analgesics market, global analgesics market share, analgesics market segments and geographies, analgesics market competitive landscape including leading competitors’ revenues, profiles and market shares. The analgesics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Analgesics Industry Players include Bayer Healthcare, Pfizer, Sanofi, Johnson & Johnson, Novartis AG, GlaxoSmithKline PLC, Reckitt Benckiser (RB), Endo Pharmaceuticals, Bristol-Myers Squibb and Eli Lilly and Company. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.