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North America Analgesics Market to Reach US$ 27.6 Billion by 2027, Propelled by Growing Incidences of Chronic Diseases

Published on Nov 07, 2022

According to the latest report by IMARC Group, titled “North America Analgesics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the North America analgesics market size reached US$ 22.5 Billion in 2021.  Analgesics, also known as painkillers, refer to any drugs that are used to achieve analgesia or pain relief. The peripheral nervous system and the central nervous system are affected differently by analgesic drugs. Their primary action is either to reduce inflammation (swelling) or to change the way the brain perceives pain. When taken for pain relief, analgesics can alleviate chronic diseases, injuries, or inflammation. Due to this, they are typically used to induce cooperation during medical procedures. Depending on their intensity, they are able to treat moderate to severe pain.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

North America Analgesics Market Trends:

The market in North America is majorly driven by the growing incidences of chronic diseases leading to a growing number of people suffering from severe chronic pain. This can be attributed to the expanding geriatric population that isa susceptible to developing numerous health issues. In addition to this, increasing clinical studies for assessing the safety and efficacy of a wide range of therapeutic drugs contribute to the growth of the analgesics market. The augmenting number of surgeries, along with the increasing penetration of effective pain management medications, is also providing an impetus to the market. Furthermore, the rising funding from private and government organizations is positively impacting the pharmaceutical manufacturing industry. Some of the other factors contributing to the market include expanding medical expenditure, continual technological advancements in manufacturing advanced analgesic drugs, a considerable increase in demand for over the counter (OTC) drugs and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 27.6 Billion by 2027, exhibiting a CAGR of 3.4% during 2022-2027.

Market Summary:

  • Based on the type, the market has been segmented into prescription and OTC analgesics
  • On the basis of the drug class, the market has been divided into opioids, NSAID, and others.
  • Based on the route of administration, the market has been categorized into oral, parenteral, topical, transdermal, and rectal.
  • On the basis of the pain type, the market has been classified into musculoskeletal pain, surgical and trauma pain, cancer pain, neuropathic pain, migraine, obstetrical pain, fibromyalgia, pain due to burns, dental/facial pain, pediatric pain, and others.
  • Based on the application, the market has been segmented into internal and external analgesics.
  • On the geographical front, the market has been segregated into the United States, Canada, and Mexico.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
     

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