Analgesics - Market Insights, Competitive Landscape, and Market Forecast - 2030

Analgesics Market by Product Type (Opioid and Non-Opioid), Application (Musculoskeletal, Surgical & Trauma, Cancer, and Others), Drug Type (Prescription and Over-The-Counter (OTC)) Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of orthopedic, cancer, and other chronic diseases, rising demand for analgesics for the treatment of mild to moderate pain, and increased product approval across the globe.

The global analgesics market was valued at USD 30,599 million in 2023, growing at a CAGR of 6.84% during the forecast period from 2024 to 2030 to reach USD 45,389 million by 2030. The increasing prevalence of orthopedic conditions, cancer, and other chronic diseases significantly boosts the demand for analgesics as patients seek effective pain management solutions. With conditions like arthritis and osteoporosis becoming more common, particularly among aging populations, the need for reliable pain relief for mild to moderate pain intensifies. Additionally, cancer patients frequently require analgesics to manage pain associated with their condition and treatment side effects. This rising demand is further propelled by the consistent approval and introduction of new analgesic products globally, expanding the range of available options for both healthcare providers and patients. Thus, these factors collectively boost the analgesics market, during the forecast period from 2024 to 2030.

Analgesics Market Dynamics:

According to a recent study published under the Global Burden of Disease (2023), nearly 1

billion people were projected to be living with osteoarthritis, the most common form of

Arthritis, by 2050. Currently, 15% of individuals aged 30 and older experience osteoarthritis. The most common sites for osteoarthritis are the knees and hands. By 2050, cases of osteoarthritis of the knee are expected to increase by 75%, while cases of Osteoarthritis of the hand are anticipated to rise by 50%. Additionally, as per the recent update provided by the Australian Bureau of Statistics (2023), in 2022, under 3.7 million (14.5%) people had arthritis. For individuals aged 45-54 years, the proportion is almost seven times higher than for those aged 0-44 years (16.2% compared to 2.5%). The prevalence almost doubled between the ages of 45-54 years and 55-64 years (16.2% compared to 30.5%). Older adults aged 75 years and over were more likely than any other age group to have arthritis, with almost one in two (48.9%) having the condition in 2022. Osteoarthritis, characterized by the degeneration of joint cartilage and underlying bone, leads to persistent pain, stiffness, and reduced mobility, affecting millions globally, especially among the aging population. As the number of individuals diagnosed with osteoarthritis rises, so does the demand for effective pain analgesics increases. As arthritis commonly results in chronic pain and inflammation, affected individuals often seek immediate and accessible relief. Medications such as tramadol, hydrocodone, and oxycodone are widely used to manage Arthritis symptoms thereby boosting the overall market of analgesics.

Additionally, the rising demand for analgesics for the treatment of mild to moderate pain such as in the case of toothache, headache, pain due to strenuous physical activity, period pain, and others is another factor accelerating the growth of the analgesics market. For instance, in October 2023, Hyloris Pharmaceuticals, a pharmaceutical company headquartered in Belgium, announced the approval of a potent non-opioid painkiller in the United States. Consequently, the continuous introduction of innovative pain management analgesics, coupled with the widespread and varied applications of analgesics, fuels the robust growth of the analgesics market.

However, growing concern over opioid abuse and stringent regulatory policies may act as a restraint in the market growth for analgesics during the forecasted period.

Analgesics Market Segment Analysis:

Analgesics Market by Product Type (Opioid and Non-Opioid), Application (Musculoskeletal, Surgical & Trauma, Cancer, and Others), Drug Type (Prescription and Over-The-Counter (OTC)), Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the analgesics market, the non-opioid category is estimated to have a significant revenue share in the analgesics market in 2023. Non-opioid analgesics are suitable and effective for a wide variety of pain and inflammatory conditions including musculoskeletal pain due to rheumatic disorders. They seem to have fewer side effects associated with them than opioid analgesics. The commonly used non-opioid analgesics are acetaminophen (paracetamol), antidepressants such as duloxetine and amitriptyline, aspirin and other non-steroidal anti-inflammatory agents (NSAIDS), and topical agents such as lidocaine and capsaicin among others. Acetaminophen is indicated for mild to moderate pain such as in case of headache, period pain, backaches, and others. It is regarded as the first line of therapy for pain and fever, particularly in the case of viral infections. Non-steroidal anti-inflammatory drugs (NSAIDs) can reduce pain, have antipyretic properties, prevent blood clots, and can reduce inflammation by blocking enzymes such as prostaglandins that are responsible for causing pain and inflammation in the body.

The increasing number of research studies related to the evaluation of the role of non-opioid analgesics is further going to enhance the demand for non-opioid analgesics. For instance, in November 2021, Northwestern University in collaboration with the National Institutes of Health (NIH) started a clinical study that aims to determine whether the treatment with Carbidopa/Levodopa and Naproxen in females with acute pain after a bunionectomy or toe fusion (24hrs, 48hrs and 5 days) will reduce pain when compared with females receiving Placebo and Naproxen.

Therefore, owing to the above-mentioned factors, the non-opioids category is expected to generate considerable revenue thereby pushing the overall growth of the global analgesics market during the forecast period.

North America is expected to dominate the overall analgesics market:

North America is expected to account for the highest proportion of the Analgesics market in 2023, out of all regions. This can be due to factors including the prevalence of chronic and infectious diseases such as orthopedic, cardiovascular, tuberculosis, and cancer among others, the increasing old age population, and the presence of key companies involved in the development of analgesics, and others.

According to recent data from the GLOBOCAN, in 2022, North America saw an estimated 2.67 million new cases of cancer, with forecasts indicating a rise to 3.83 million by 2045. As per the same source, in Canada, the number of new cancer cases was around 292,000 in 2022, projected to reach 449,000 by 2045. Meanwhile, in Mexico, there were approximately 207,000 new cases of cancer in 2022, expected to increase to 360,000 by 2045. Cancer patients often experience severe pain due to the disease itself, treatment procedures, and associated complications. As the incidence of cancer rises, the demand for effective pain relief solutions intensifies, encompassing both prescription opioids and non-opioid analgesics increases thereby boosting the overall market of analgesics.

As per the recent data provided by the Centre for Disease Control and Prevention (CDC) (2023), from 2019 to 2021, statistics revealed that about 21.2% of adults in the United States, totaling approximately 53.2 million individuals, were diagnosed with arthritis by a healthcare professional. Among these, women experienced a higher prevalence, with 20.9% affected, compared to 16.3% of men. Moreover, veterans exhibited a higher prevalence of arthritis at 24.2%, surpassing the 18.5% prevalence rate among non-veterans. Additionally, the likelihood of being diagnosed with arthritis increases with age. These conditions often lead to severe joint pain, deformities, and loss of function, necessitating analgesics such as Acetaminophen, Ibuprofen, Naproxen, and others thereby boosting the future market in North America.

Along with the presence of a large patient pool in the country, the increasing focus of manufacturers on launching new products in the market is expected to bolster the growth of the analgesics market in the United States during the forecast period. For example, in October 2021, Esteve Pharmaceuticals received the US Food and Drug Administration (FDA) clearance for SEGLENTIS(R) (celecoxib and tramadol hydrochloride) for the management of acute pain in adults that is severe enough to require an opioid analgesic and for which alternative treatments are inadequate.

Therefore, the above-mentioned factors are expected to bolster the growth of the analgesics market in the United States during the forecast period.

Analgesics Market Key Players:

Some of the key market players operating in the Analgesics market include Novartis AG, Pfizer Inc., Bayer AG, AbbVie Inc., Bristol-Myers Squibb Company, Endo Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Sanofi, Assertio Holdings, Inc., Janssen Pharmaceuticals, Inc., GSK plc., Perrigo Company plc., Mallinckrodt, Purdue Pharma L.P., Abbott, Reckitt Benckiser Group PLC., Fresenius Kabi USA, Eliy and Lilly Company, Hikma Pharmaceuticals PLC, Heron Therapeutics, Inc., and others.

Recent Developmental Activities in the Analgesics Market:

• In February 2024, Hikma Pharmaceuticals PLC. announced the launch of COMBOGESIC(R) IV (acetaminophen and ibuprofen) injection in the US. COMBOGESIC(R) IV is an intravenous, opioid-free pain relief medicine that is a combination of 1,000 mg of acetaminophen and 300 mg of ibuprofen, a nonsteroidal anti-inflammatory drug (NSAID).
• In November 2021, Hyloris Announces FDA Acceptance of New Drug Application for Maxigesic(R) IV in Post-Operative Pain.
• In November 2021, Pacira Biosciences announced the acquisition of flexion therapeutics and strengthened its leadership position in non-opioid pain management.

Key Takeaways From the Analgesics Market Report Study:

• Market size analysis for current analgesics size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the analgesics market.
• Various opportunities available for the other competitors in the analgesics market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current analgesics market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for analgesics market growth in the coming future?

Target Audience who can be benefited from this analgesics Market Report Study:

• Analgesics product providers
• Research organizations and consulting companies
• Analgesics -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in analgesics
• Various end-users who want to know more about the analgesics market and the latest technological developments in the analgesics market.

Frequently Asked Questions for the Analgesics Market:

1. What are analgesics?

Analgesics, commonly known as painkillers, are medications designed to relieve pain without causing the loss of consciousness. They are used to alleviate various types of pain, ranging from mild to severe, and can be administered for acute conditions, such as injuries or surgeries, as well as chronic conditions, like arthritis or cancer. Analgesics work by acting on the nervous system to reduce or block the sensation of pain.

2. What is the market for analgesics?

The global analgesics market was valued at USD 30,599 million in 2023, growing at a CAGR of 6.84% during the forecast period from 2024 to 2030 to reach USD 45,389 million by 2030.

3. What are the drivers for the analgesics market?

The increasing prevalence of orthopedic conditions, cancer, and other chronic diseases significantly boosts the demand for analgesics as patients seek effective pain management solutions. With conditions like arthritis and osteoporosis becoming more common, particularly among aging populations, the need for reliable pain relief for mild to moderate pain intensifies. Additionally, cancer patients frequently require analgesics to manage pain associated with their condition and treatment side effects. This rising demand is further propelled by the consistent approval and introduction of new analgesic products globally, expanding the range of available options for both healthcare providers and patients. Thus, these factors collectively boost the analgesics market, during the forecast period from 2024 to 2030.

4. Who are the key players operating in the analgesics market?

Some of the key market players operating in the Analgesics are Novartis AG, Pfizer Inc., Bayer AG, AbbVie Inc., Bristol-Myers Squibb Company, Endo Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Sanofi, Assertio Holdings, Inc., Janssen Pharmaceuticals, Inc., GSK plc., Perrigo Company plc., Mallinckrodt, Purdue Pharma L.P., Abbott, Reckitt Benckiser Group PLC., Fresenius Kabi USA, Eli and Lilly Company, Hikma Pharmaceuticals PLC, Heron Therapeutics, Inc., and others.

5. Which region has the highest share in the analgesics market?

North America is expected to account for the highest proportion of the Analgesics market in 2023, out of all regions. This can be due to factors including the prevalence of chronic and infectious diseases such as orthopedic, cardiovascular, tuberculosis, and cancer among others, the increasing old age population, and the presence of key companies involved in the development of analgesics, and others.