Analgesics Market

Analgesics Market Size:

The global analgesics market size reached US$ 54.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 77.2 Billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032. The market is mainly driven by the rising prevalence of chronic pain conditions, an increasing in global geriatric population and significant technological advancements in drug formulations. There is also a growing demand for non-opioid and over the counter (OTC) pain relievers which creates a positive outlook for the market.

Analgesics Market Analysis:

• Major Market Drivers: The key market drivers include the increase in incidence of chronic pain conditions like arthritis and cancer, rapid growth in global geriatric population and rising awareness about pain management. Additionally, the advancements in the drug formulations along with the introduction of novel analgesics and expansion of over-the-counter (OTC) analgesics are creating a positive outlook for the market growth. The rise in surgical procedures and the demand for post operative pain relief further propels the analgesics market growth.
• Key Market Trends: Key market trends include the gradual shift towards non opioid pain relievers mainly due to the opioid crisis, rising demand for topical analgesics and the rise of natural and herbal pain relief products. There is also a growing focus on personalized medicine along with the targeted therapies. The market is witnessing various technological advancements which includes delivery systems like transdermal patches and sustained release formulations. Furthermore, the rapid expansion of ecommerce platforms for OTC analgesics is further enhancing the market accessibility and consumer reach thereby propelling the analgesics market growth.
• Geographical Trends: Geographical trends in the market reveal significant growth in North America and Europe mainly due to the high healthcare expenditure and advanced healthcare infrastructure. The Asia Pacific region is experiencing a rapid market expansion mainly driven by the rise in population, increase in disposable incomes and rising awareness about pain management across the region. Emerging economies in Latin America and Middle East are also contributing significantly to the analgesics market growth with improvement in healthcare systems and increase in access to analgesics medication.
• Competitive Landscape: Some of the major market players in the analgesics industry include Bayer AG, Novartis International AG, GlaxoSmithKline PLC, Pfizer Inc., Johnson & Johnson Pvt. Ltd., Reckitt Benckiser (RB) Group PLC, Endo Pharmaceuticals PLC, Bristol-Myers Squibb Company, Eli Lilly and Company, Sanofi SA among many others.
• Challenges and Opportunities: Challenges in the analgesics market include regulatory hurdles, the risk of side effects and addiction, particularly with opioid analgesics, and increasing competition from generic drugs. Additionally, there is a growing public and regulatory scrutiny over opioid misuse. However, opportunities abound with the development of non-opioid analgesics, advancements in drug delivery technologies, and increasing demand for over-the-counter (OTC) and natural pain relief options. The expanding markets in emerging economies and a focus on personalized medicine also present significant growth prospects for the industry.
   

Analgesics Market Trends:

Rising Prevalence of Chronic Diseases

The rising prevalence of various chronic diseases like arthritis, cancer and diabetes across the world are driving a higher demand for pain management solutions. According to the data published by the Centers for Disease Control and Prevention, around 129,000,000 people in the United States have at least one major chronic disease such as heart disease, cancer, diabetes, obesity and hypertension. Along with this, around 42% of the total population have more than two or more chronic diseases and 12% of the population is suffering from at least five chronic diseases. As the global population ages the incidence of chronic pain conditions is on the rise which necessitates effective analgesic options. Nowadays older adults are more prone to developing these chronic conditions which often come with persistent pain. The market is expanding with the rising need for diverse and effective pain relief medications in order to improve the quality of life for affected individuals.

Rising Demand for Non-Opioid Analgesics

The opioid crisis, marked by high addiction and abuse rates, has shifted preference towards non-opioid analgesics for safer pain management. Non-opioid options like nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen are increasingly popular due to their lower risk profiles. For instance, in January 2024, a non-opioid painkiller developed by Vertex Pharmaceuticals, VX-548, demonstrated positive results in two major clinical trials, showing significant pain relief after surgery compared to placebo with few side effects. Vertex plans to seek FDA approval for the drug in treating moderate-to-severe acute pain. The results bring hope for an alternative to addictive opioid medications amidst the ongoing opioid crisis. These alternatives are effective for various pain conditions, offering a safer choice for both acute and chronic pain management. This shift is driving innovation and market growth in non-opioid pain relief solutions, addressing the demand for safer therapeutic options.

Rise in Use of OTC Analgesics

Over-the-counter (OTC) analgesics are increasingly used for self-medication due to their easy accessibility and the rise of e-commerce. These non-prescription options, which include NSAIDs (nonsteroidal anti-inflammatory drugs), acetaminophen, and combination products, offer convenient pain relief for various conditions. For instance, Glenmark Pharmaceuticals obtained USFDA approval for its generic Acetaminophen and Ibuprofen tablets. The company's drug, a generic version of Advil 2 Dual Action, will be distributed in the US market by Glenmark Therapeutics Inc, USA. The expansion of online pharmacies has made purchasing OTC analgesics more convenient, contributing to their widespread use. Their availability without a prescription enables consumers to manage pain effectively and promptly, driving the growth of the OTC analgesics market.

Analgesics Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels for 2024-2032. Our report has categorized the market based on type, drug class, route of administration, pain type and application.

Breakup by Type:

• Prescription
• Over the counter (OTC)
   

Prescription accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes prescription and over the counter (OTC). According to the report, prescription represented the largest segment.

Prescription analgesics dominate the market share due to their effectiveness in managing severe and chronic pain conditions such as post-surgical pain, cancer pain, and severe arthritis. These medications, including opioids and other potent pain relievers, are essential for conditions that over-the-counter options cannot adequately address. The stringent regulation and physician supervision associated with prescription analgesics ensure appropriate use, driving their demand. Additionally, advancements in personalized medicine and targeted therapies contribute to the growth of prescription analgesics within the market.

Breakup by Drug Class:

• Opioids
• NSAIDs
• Others
   

Opioids holds the largest share of the industry

A detailed breakup and analysis of the market based on the drug class have also been provided in the report. This includes opioids, NSAIDs and others. According to the report, opioids accounted for the largest market share.

Opioids hold the largest share of the analgesics industry due to their unparalleled efficacy in managing severe and chronic pain. These medications, including morphine, oxycodone, and fentanyl, are crucial for treating acute post-operative pain, cancer-related pain, and severe injury pain. Despite the significant concerns over addiction and abuse, the medical necessity for potent pain relief in specific conditions ensures the continued demand for opioids. Regulatory efforts to control misuse and advancements in formulation to reduce addiction potential are shaping the market. Additionally, ongoing research into safer opioid alternatives and combination therapies further underscores the dominant position of opioids in the analgesics market.

Breakup by Route of Administration:

• Oral
• Parenteral
• Topical
• Transdermal
• Rectal
   

Oral represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the route of administration. This includes oral, parenteral, topical, transdermal and rectal. According to the report, oral represented the largest segment.

Oral analgesics represent the leading segment in the analgesics market due to their convenience, ease of administration, and wide availability. These medications, which include tablets, capsules, and liquid formulations, are favored for managing various types of pain, from mild headaches to moderate postoperative pain. The accessibility of over-the-counter oral analgesics like acetaminophen and ibuprofen contributes significantly to their market dominance. Additionally, advancements in oral drug formulations, such as extended-release tablets, enhance patient compliance and effectiveness, further solidifying the leadership of oral analgesics in the market.

Breakup by Pain Type:

• Musculoskeletal
• Surgical and Trauma
• Cancer
• Neuropathic
• Migraine
• Obstetrical
• Fibromyalgia
• Pain due to Burns
• Dental/Facial
• Pediatric
• Others
   

Musculoskeletal exhibits a clear dominance in the market 

A detailed breakup and analysis of the market based on the pain type have also been provided in the report. This includes musculoskeletal, surgical and trauma, cancer, neuropathic, migraine, obstetrical, fibromyalgia, pain due to burns, dental/facial, pediatric, and others. According to the report, musculoskeletal pain accounted for the largest market share.

Musculoskeletal pain management exhibits clear dominance in the analgesics market due to the high prevalence of conditions such as arthritis, back pain, and sports injuries. These conditions are widespread among the aging population and active individuals, driving significant demand for effective pain relief. Both prescription and over-the-counter analgesics are extensively used to manage musculoskeletal pain, making it a critical segment within the market. The ongoing research and development in targeting specific pain pathways and improving drug formulations further bolster this dominance. Additionally, the rise in sedentary lifestyles and increasing awareness of pain management options contribute to the sustained growth of this segment.

Breakup by Application:

• Internal
• External
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes internal and external.

The internal application of analgesics includes oral and injectable forms used to manage pain from within the body. This category encompasses medications such as tablets, capsules, and liquid formulations taken orally, as well as intravenous and intramuscular injections. Internal analgesics are effective for a wide range of conditions, including chronic pain, post-operative pain, and severe acute pain. Their convenience and efficacy in providing systemic relief make internal applications a significant segment in the analgesics market.

The external application of analgesics involves topical formulations such as creams, gels, sprays, and patches applied directly to the skin. These analgesics are particularly effective for localized pain relief, such as muscle strains, joint pain, and minor injuries. They offer the advantage of targeted therapy with minimal systemic side effects, making them popular among patients seeking non-invasive pain management options. The growing preference for non-systemic treatments and advancements in topical drug delivery systems contribute to the prominence of external applications in the analgesics market.

Breakup by Region:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America
   

North America leads the market, accounting for the largest analgesics market share

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. According to the report, North America accounted for the largest market share.

North America leads the analgesics market, accounting for the largest market share due to high healthcare expenditure, advanced medical infrastructure, and a high prevalence of chronic pain conditions. According to a report published by Centers for Medicare & Medicaid Services, U.S. health care spending grew 4.1% in 2022, reaching $4.5 trillion or $13,493 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 17.3%. The region's strong regulatory framework ensures the availability of both prescription and over-the-counter analgesics. Additionally, the ongoing opioid crisis has spurred the development and adoption of non-opioid pain relief alternatives. The presence of major pharmaceutical companies and continuous research and development activities further bolster North America's dominant position in the analgesics market.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the analgesics industry include Bayer AG, Novartis International AG, GlaxoSmithKline PLC, Pfizer Inc., Johnson & Johnson Pvt. Ltd., Reckitt Benckiser (RB) Group PLC, Endo Pharmaceuticals PLC, Bristol-Myers Squibb Company, Eli Lilly and Company, Sanofi SA, etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The analgesics market is highly competitive, with major pharmaceutical companies like Pfizer, Johnson & Johnson, and GlaxoSmithKline leading the industry. These companies invest heavily in research and development to introduce new and effective pain relief formulations, including non-opioid alternatives and advanced drug delivery systems. In 2022, Johnson & Johnson unveiled a state-of-the-art R&D facility in the San Francisco Bay Area. The new site will focus on medical innovation, including research on infectious diseases and retinal diseases. It also aims to facilitate collaboration with Silicon Valley healthcare entrepreneurs and researchers. The market also sees significant competition from generic drug manufacturers, which offer cost-effective alternatives to branded medications. Additionally, emerging players focusing on natural and herbal analgesics are gaining traction. Strategic collaborations, mergers, and acquisitions are common as companies seek to expand their product portfolios and market reach, intensifying the competitive landscape in the analgesics market.

Analgesics Market Recent Developments:

• In May 2024, Novartis confirmed the acquisition of Mariana Oncology, a biotechnology company specializing in radioligand therapies for cancer treatment. The acquisition includes a portfolio of radioligand therapy programs targeting various solid tumor indications. Novartis aims to strengthen its radioligand therapy pipeline and expand its research infrastructure. The upfront payment for the acquisition is USD 1 billion, with additional payments upon completion of specific milestones. The transaction is pending customary closing conditions.
• In June 2024, GSK acquired Elsie Biotechnologies for up to $50 million to accelerate the development of oligonucleotide therapeutics. The acquisition will enable GSK to expand its oligonucleotide pipeline and enhance its R&D capabilities. Oligonucleotides have the potential to address hard-to-treat diseases, and the integration of Elsie's expertise with GSK's capabilities aims to advance drug development for larger patient populations. The acquisition aligns with GSK's commitment to uniting science and technology to deliver innovative medicines.

Analgesics Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the analgesics market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global analgesics market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the analgesics industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.