Analgesics Market is valued around USD 25.44 Billion in2019 and expected to reach USD 29.58 Billion by 2030 with the CAGR of 1.30%over the forecast period.
Analgesics serve as thepain killers which are used for the treatment of different types of pain. Painmanagement is one of the fastest developing areas which are further creatingdemand for analgesics. These are drugs based on opioids, non-opioids &combination drugs used for the treatment of more than two symptoms.
Global Analgesics Marketreport is segmented on the basis of type, drug class, route of administration, paintype, application and by regional. Based upon type, the analgesics market is fragmentedinto prescriptionanalgesics and OTC analgesics. On the basis of drugclass, the market is categorized into opioids, NSAID, and others. Based on routeof administration, the market is fragmented into oral,parenteral, topical, transdermal, and rectal. Onthe basis of pain type, the market is divided into musculoskeletal pain,surgical and trauma pain, cancer pain, neuropathic pain, migraine, obstetricalpain, fibromyalgia, pain due to burns, dental/facial pain, pediatric pain, andothers. On the basis of application, the market is fragmented into internalanalgesics and external analgesics. The regional bifurcation of countriesincludes North America, Europe, Asia-Pacific, and RoW which are furthersegmented into major countries such as U.S., UK, France, and others.
The analgesics market ismainly driven by the constant rising demand of minimally invasive proceduresover the period of time owing to the various advantages over conventionalsurgical procedures. On the other hand, high prevalence rate of cardiovasculardisorders and growth in laparoscopic procedures along with other disorders hasalso amplified the demand for minimally invasive procedures. Moreover,technological advancement with developing medical practices and evolution ofnew techniques for the treatment has also driven the market growth over theforecast period. However, high set-up cost with high prices of equipment’s &other materials along with regulatory issues are expected to impede the marketgrowth.
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The developed regions suchas North America and Europe are expected to hold the major market share owingto the presence of well-established healthcare facilities & infrastructurewith advanced technology. Moreover, surge in research & developmentactivities along with growth in investments are also supports the marketgrowth. Asia Pacific is expected to dominate the analgesics market in terms ofgrowth rate owing to the growing prevalence of chronic disorders such ascancer, arthritics & other. In addition, growth in surgical procedure alongwith trauma cases followed by constant growth of OTC drugs in the region islikely to enhance the market growth over the forecast period.
The major market playersprofiled in the analgesics market includes Novartis AG, GlaxoSmithKline PLC,Bayer AG, Johnson & Johnson, Pfizer Inc., Endo Pharmaceuticals, ReckittBenckiser (RB), Eli Lilly and Company, Bristol-Myers Squibb, and Sanofi S.A.among others.
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