The analgesics market is on track to achieve a revenue of USD 91.62 billion in 2024. The market share of analgesics is increasing continuously in the drugs and medication sector, which has the ability to translate into a CAGR of 4.6% during the forecast period. This promising growth of the industry is slated to culminate at a valuation of about USD 143.65 billion by 2034.
| Report Attribute | Details |
|---|---|
| Market Size (2024) | USD 91.62 billion |
| Market Anticipated Forecast Value (2034) | USD 143.65 billion |
| Market Projected Growth Rate (2024 to 2034) | 4.6% CAGR |
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Rising cases of opioid dependency and the abuse of painkillers have led to the establishment of different abuse-deterrent systems and laws, which are put forward as a deterrent to the market. On the other hand, the forecast period is characterized by remunerative opportunities through technological development in the pharmaceutical industry to manufacture advanced versions of these drugs.
The market was valued at USD 66.36 billion in 2018. The global market expanded at 5.6% CAGR over the past 5 years between 2018 and 2023. The overall market value was about USD 87.14 billion by 2023.
Short Term (2024 to 2026): There is an expectation that the pandemic has stretched the market dynamics of pain management drugs. The pandemic has stressed healthcare systems around the world and heightened the need for advanced hospitals. Strengthening healthcare infrastructure is favoring the market to grow.
Medium Term (2027 to 2030): The presence of effective treatment options, large-scale investment in medical research and development, and the rising adoption of analgesics among different age groups is marked to drive the market.
Long Term (2031 to 2034): New pain reliever drugs are forecasted to create significant growth opportunities for market players due to the increasing demand for personalized medicine.
| Attributes | Details |
|---|---|
| Market Value (2018) | USD 66.36 billion |
| Market Revenue (2023) | USD 87.14 billion |
| Market Historical Growth Rate (CAGR 2018 to 2023) | 5.6% CAGR |
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Rising Prevalence of Chronic Diseases
Long-term diseases, and cardiovascular disorders, in particular, contribute to industry growth. A rise in the prevalence of diseases such as cancer has also increased the number of people suffering from chronic pain.
Increasing Investment in Healthcare Infrastructure
Improving healthcare infrastructure is a significant factor influencing the growth rate of the overall market. Further, various government organizations are striving to improve healthcare infrastructure by increasing funding, which will further affect market dynamics.
Development of Drug Delivery Systems
The introduction of novel drug delivery systems has created more opportunities for market suppliers in the last few years. Further development of novel drug delivery systems and its spread in African and Asian countries has the potential to create and improve the future outlook for opioid analgesics.
The Severity of Abusive Opioids & their Misuse
Due to the severity of abusive opioids and their misuse, physicians have reduced their prescriptions for pain management, which has decreased sales globally. According to the International Association for the Study of Pain (IASP), around 20-30% of opioids prescribed for chronic pain are being misused. Besides this, as per the association, up to 10% of the total opioid consumers are addicted to them.
The Use of Biologics is on the Rise
Biotechnology is limiting the growth of the market due to the growth of biologics for treating inflammatory and neuropathic pain. Biologics are considered more effective than analgesics, which only provide effective pain relief for 50% of patients, and are therefore seeing greater use.
The table below lists the countries with a sizable market share and high growth opportunities.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 3.2% |
| Germany | 3.4% |
| United Kingdom | 3.1% |
| Thailand | 5.4% |
| India | 6.8% |
Government initiatives to favor the utilization of pain relief drugs exhibit high demand, expected at 3.2% CAGR through the course of the forecast period. The pain relief medication industry is gaining prominence in the United States due to the growing percentage of people susceptible to chronic and lifestyle-related diseases.
As per the documentation in 2016 by the National Health Institute, over 20% of adults in the USA suffer from chronic pain and 8% have high-impact chronic pain. Additionally, the US Food and Drug Administration's (USFDA) approval of a strong pipeline of effective drugs is expected to support market growth.
The rising number of over-the-counter (OTC) pharmacies in the country is anticipated to result in the growth of the regional market at 3.4% CAGR through 2034. The trend of self-medication in Germany is highly prevalent. Sales of non-prescription analgesics via OTC pharmacies in Germany have been characterized as one of the main drivers of the market in the country.
There has been a swift trend favoring analgesic utilization in the United Kingdom that has the potential to translate into a CAGR of 3.1% through 2034. The country is registering higher demand mostly concentrated in the older or geriatric population aiming to achieve a better quality of life.
Commercializing opioid-tolerant drugs is found to be one of the main opportunities for the United Kingdom market players in the opioid drugs sector.
The market in India is projected to expand at a CAGR of 6.8% over the projected years. According to research on analgesic utilization in public hospitals in India, the utilization of NSAIDs and opioids showed a higher trend than other types of analgesics.
For pain management, the governing body of India is encouraging doctors to prescribe non-opioid analgesics, which provides an opportunity for companies to introduce novel non-opioid drugs.
Additionally, key manufacturers are present in the market to manufacture and distribute analgesic drugs, and consumer expenditure on healthcare is increasing, factors positively impacting the market in the country.
Thailand is experiencing a remarkable rise in painkiller consumption resulting in a forecasted CAGR of 5.4% for the market. The introduction of non-opioid analgesics in the country is expected to promote the sales of non-steroidal anti-inflammatory drugs over the forecast period.
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| Attributes | Details |
|---|---|
| Top Pain Indication Segment | Surgical Pain |
| Total Market Share in 2024 to 2034 | 45.6% |
Surgical pain is slotted in to hold a revenue share of 45.6% in 2024. The higher adoption of surgical procedures worldwide is the key reason driving the surgical pain segment. Also, the impact of the NSAIDs market on improving healthcare outcomes has leveraged the use of analgesic painkillers during surgery.
The growing prevalence of diseases requiring surgical treatment, like heart disease, cancer, stroke, and arthritis is poised to further increase the demand for painkillers in this segment.
| Attributes | Details |
|---|---|
| Top Drug Class Segment | Opioids |
| Total Market Share in 2024 | 47.8% |
Based on drug class, opioid is expected to be used for the production of 47.8% of the analgesics in 2024. High demand for opioid drug classes is because of the rising burden of chronic pain and inflammation incidences globally.
The controlled sales of opioid analgesics contribute to a higher market share for hospital pharmacies. Further, private and government funding for pharmaceutical manufacturing segments and Research and Development activities for developing opioid products have boosted the growth of this segment.
Key players are focusing on novel and innovative approaches for the development of non-opioid or non-addictive formulations for pain management. Leading companies are strengthening their product portfolio and global footprint through acquisitions.
The strategy of expansion, new product launches, and approvals by key manufacturers is further strengthening their market presence. Besides these, mergers and acquisitions have emerged as key growth strategies adopted by market players.
Various acquisition strategies and product launches have been employed by new market players to increase their market presence. For example, Advil Dual Action was launched by GlaxoSmithKline PLC on September 10, 2020, and consists of two or more pain-relieving ingredients such as ibuprofen and acetaminophen.
Recent Developments in the Global Analgesics Market
The market is estimated to be around USD 91.62 billion in 2024.
The market is set to develop at 4.6% CAGR during the forecast period.
The market is predicted to be valued at USD 143.65 billion by 2034.
Opioids are anticipated to account for nearly 47.8% revenue share of the global market in 2024.
India is predicted to witness a CAGR of 6.8% in sales of analgesics through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Drug Class 5.1. Opioids 5.2. NSAIDs 5.3. Local Anaesthetics 5.4. Acetaminophen 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Indication 6.1. Surgical Pain 6.2. Cancer Pain 6.3. Neuropathic Pain 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Route of Administration 7.1. Oral 7.2. Parenteral 7.3. Transdermal 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel 8.1. Hospital Pharmacies 8.2. Retail Pharmacies 8.3. Drug Store 8.4. Clinics 8.5. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Pfizer Inc. 19.2. Sun Pharmaceutical Industries, Inc. 19.3. Mallinckrodt Pharmaceuticals 19.4. AbbVie Inc. (Allergan plc) 19.5. Teva Pharmaceuticals 19.6. Boehringer Ingelheim International GmbH 19.7. Janssen Pharmaceuticals, Inc. [Johnson & Johnson] 19.8. Endo Pharmaceuticals Inc. 19.9. Purdue Pharmaceuticals L.P. 19.10. Assertio Therapeutics, Inc. 19.11. Bayer AG 20. Assumptions & Acronyms Used 21. Research Methodology
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Analgesics Market
