Analgesics Market Size To Reach $61.39 Billion By 2030

Analgesics Market Growth & Trends

The global analgesics market size is expected to reach USD 61.39 billion by 2030, according to a new report by Grand View Research, Inc. Furthermore, the industry is expected to expand at a CAGR of 6.02% during the forecast period. The growth is aided by the rising prevalence of chronic disorders and the surge in the geriatric population globally. Moreover, ongoing regulatory approvals of innovative analgesics and increasing R&D activities are other key factors contributing to market growth. For instance, in October 2021, the U.S. FDA approved a combination pill containing tramadol and celecoxib for acute pain management in adult patients.

The increasing incidences of chronic and acute pain conditions are expected to offer lucrative growth opportunities in the market for analgesics. For instance, in April 2021, according to the International Association for the Study of Pain, over 50.2 million adults in the U.S. reported pain every day, with the most common types being knee, back, and foot pain. Some of the common analgesics prescribed for these conditions are fentanyl, codeine, and NSAIDs such as acetaminophen, celecoxib, and others.

In addition, the surge in the global geriatric population is expected to increase the prevalence of chronic diseases, which is expected to drive the market growth for analgesics. America’s Health Rankings Senior Report 2021 states that according to the U.S. Census Bureau, more than 54 million adults aged 65 and above reside in the U.S. The geriatric population is more prone to chronic conditions such as cancer, cardiovascular disorders, musculoskeletal diseases, and associated pain with these diseases. Moreover, according to the NIH, the prevalence of chronic neuropathic pain in the geriatric population is 10-52%.

The advancements in the designing and development of novel drugs to boost patient compliance and improve the safety of existing therapeutics are driving the market growth forward. For instance, analgesics such as Naproxen, Voltaren-XR (diclofenac), and tramadol, among others, are available in extended-release tablet forms. Volini Maxx spray by Sun Pharmaceutical Industries Ltd. and Bayer’s AleveX spray are examples of targeted spray technology for better spray control without mess and drip. Increasing adoption of these products is expected to drive market growth in musculoskeletal applications.

The increasing demand for combination analgesics and opioid analgesics due to their high efficacy is motivating market players to develop novel & effective pain management drugs. For instance, in 2022, there were eight new CBD and THC molecules in phase 3 clinical trials in the U.S. for difficult-to-treat pain conditions.

Furthermore, various developments such as partnerships, new product launches, and collaborations undertaken by leading players are other factors contributing to the market growth. For instance, in August 2021, Alkem Laboratories announced the launch of famotidine and ibuprofen tablets for the management of osteoarthritis and rheumatoid arthritis symptoms in the U.S.

In addition, in December 2020, Sandoz, a Novartis division, announced the immediate availability of acetaminophen generic injection in the U.S. This injection is used for the management of mild to moderate pain in adult as well as pediatric patients. Moreover, the growing approval of combination drugs to reduce the side effects of analgesics is further expected to increase the market growth for analgesics in the coming years.

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Analgesics Market Report Highlights

• The non-opioid drug type segment held the largest market share in 2022, owing to lesser side effects than opioid analgesics and a lower chance of developing drug dependency

• Based on the route of administration, the oral segment dominated the market for analgesics due to the lack of requirement of any special apparatus for drug administration and high patient compliance for the oral route

• The surgical & trauma application segment was the leading revenue contributor during the base year, which is attributed to the significantly large number of surgeries performed globally every year

• The online pharmacies segment is anticipated to exhibit the fastest growth rate, owing to the increasing adoption of telemedicine and the emergence of several e-commerce sites to sell medical products

• Asia Pacific is expected to exhibit the fastest growth over the forecast period, due to rising investments in the region by major manufacturers and extensive unmet medical needs

Analgesics Market Segmentation

Grand View Research has segmented the global analgesics market based on drug type, route of administration, application, distribution channel, and region:

Analgesics Drug Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Opioid

• Non-opioid

• Compound Medication

Analgesics Route of Administration Outlook (Revenue, USD Billion, 2018 - 2030)

• Oral

• Parenteral

• Transdermal

• Others

Analgesics Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Musculoskeletal

• Surgical and Trauma

• Cancer

• Neuropathic

• Migraine

• Obstetrical

• Fibromyalgia

• Pain Due to Burns

• Dental/Facial

• Pediatric

• Others

Analgesics Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Hospital Pharmacies

• Retail Pharmacies

• Online Pharmacies

Analgesics Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Analgesics Market

• Bayer AG

• Endo International plc

• Assertio Holdings, Inc.

• Janssen Global Services, LLC

• GSK plc

• AbbVie Inc.

• Novartis AG

• Viatris Inc.

• Teva Pharmaceutical Industries Ltd.