Adoption of Analgesic Drugs is Rising with Favorable Government Regulations, the Analgesics Market value to surpass US$ 143 Billion by 2034 end | Future Market Insights, Inc.

An In-depth Market Insights of Analgesics Market including Opioids, NSAIDs, Local Anesthetics, and Acetaminophen Covering 30+ Countries like United States, United Kingdom, Germany, France, Norway, Sweden, Saudi Arabia, United Arab Emirates, Japan, Korea, Australia, New Zealand, and Others.

/EIN News/ -- NEWARK, Del, July 31, 2024 (GLOBE NEWSWIRE) -- The global analgesics market size value in 2018 was USD 66.36 Billion which increased to USD 87.14 Billion in 2023 following a CAGR of 5.6% during this historical period. In terms of value, sales of analgesic drugs in 2024 are to be around USD 91.62 billion. This sales figure is poised to reach almost USD 143.65 billion by 2034 by following a CAGR of 4.6% during the projected period.

The increase in the prevalence of neuropathic and chronic pain, as well as advances in pain treatment strategies, are driving global analgesics sales. In addition to this, as more clinical trials are conducted to assess the safety and efficacy of a wide range of painkillers and other medications, the analgesics industry is going to expand further.

The high cost of medication development and delivery may limit the analgesic industry's growth. Moreover, a lack of healthcare infrastructure and government restrictions to combat drug misuse may slow the market's development pace.

Request a Sample Copy of This Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-1306

Key Takeaways from the Analgesics Market Study Report:

• The overall market is slated to witness an absolute growth opportunity of over USD 50 billion between 2024 and 2034.
• Intake of pain relief medications is substantially higher in the United States which is also increasing with an estimated 3.2% CAGR through 2034.
• Painkiller market suppliers in Germany are witnessing promising growth opportunities and could exhibit an average CAGR of 3.4% till 2034.
• Emerging trends in pain medications suggest the United Kingdom market to follow a y-o-y growth rate of 3.1% over the next ten years.
• Pharmaceutical industries are poised to drive the Indian analgesic market at a lucrative growth rate of 6.8% through 2034.
• Thailand is an emerging market for analgesic drugs and is figured out to increase its sales at 5.4% per year from 2024 to 2034.
• By drug type, opioid analgesics could account for 47.8% of the total demand in 2024.
  

Competitive Landscape for the Analgesics Market Players:

Market players in developed economies like the United States and the European countries, command a sizable share owing to favorable market regulations and higher research and development expenditure. However, government attempts to establish a self-sufficient pharmaceutical industry in many emerging countries have led to an increase in market competition.

“Opioids are largely used in North America and Western Europe but higher increasing usage of opioids for non-medical purposes has limited its adoption in the medical field. However, the formulation of opioid analgesics with abuse-deterrent properties by manufacturers has improved the future outlook for opioid analgesics,” – opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).

Recent Developments by the Analgesics Industry Participants:

• In February 2024, Hikma Pharmaceuticals PLC announced the introduction of COMBOGESIC® IV (acetaminophen and ibuprofen) injection in the United States. It is an intravenous, opioid-free pain reliever that contains 1,000 mg of acetaminophen and 300 mg of ibuprofen, a nonsteroidal anti-inflammatory medication. It was authorized by the US FDA in October 2023 for use in people where an intravenous route of administration is therapeutically necessary.
• In January 2024, Vertex Pharmaceuticals, based in the United States, released the findings of three Phase III studies on its VX-548. The non-opioid pain therapy produced significant pain reductions in both surgical and non-surgical settings. Vertex intends to file a New Drug Application in mid-2024, seeking a wide label in moderate-to-severe acute pain.

Checkout the Report for Market-Driven Insights: https://www.futuremarketinsights.com/checkout/1306

Key Players Profiled in the Analgesics Market Report:

• Pfizer Inc.
• Sun Pharmaceutical Industries, Inc.
• Sanofi SA
• AbbVie Inc. (Allergan plc)
• Teva Pharmaceuticals
• Boehringer Ingelheim International GmbH
• Janssen Pharmaceuticals, Inc. [Johnson & Johnson]
• Endo Pharmaceuticals Inc.
• Purdue Pharmaceuticals L.P.
• Assertio Therapeutics, Inc.
• Mallinckrodt Pharmaceuticals
• Bayer AG
• GlaxoSmithKline plc.
• Bausch Health Companies Inc.
• Novartis AG
  

Key Segments Covered by Analgesics Industry Survey Report:

By Drug Class:

• Opioids
• NSAIDs
• Local Anesthetics
• Acetaminophen

By Indication:

• Surgical Pain
• Cancer Pain
• Neuropathic Pain
  

By Route of Administration:

• Oral
• Parenteral
• Transdermal
  

By Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Drug Store
• Clinics
• Other Sales Channels
  

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia and Pacific
• Middle East and Africa (MEA)

Authored By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:

The topical pain relief market size value is projected to increase from USD 11,061.3 million in 2024 to USD 18,994.4 million by 2034. The market was valued at USD 10,513.1 million in 2023 and is anticipated to surge at a 5.6% CAGR through 2034.

The opioid analgesics market share is slated to expand at a 5.2% CAGR, attaining USD 43.3 billion in 2023, with a market valuation of USD 72.0 billion by 2033, according to FMI.

The dental lasers market demand is estimated to be worth USD 316.2 million in 2024 and is projected to reach a value of USD 483.7 million by 2034, expanding at a CAGR of 4.0% over the assessment period of 2024 to 2034.

The dental fluorescence analyzer market growth is estimated to reach USD 359.7 million in 2024. It is estimated that revenue will increase at a CAGR of 7.9% between 2024 and 2034. The market is anticipated to reach USD 769.5 million by 2034.

The novel drug delivery systems in cancer therapy market trends is projected to reach USD 19.6 billion by 2024, which is likely to be driven with the help of a CAGR of 10.8% through the forecasted era. This progress is likely to elevate the ecosystem to the USD 54.8 billion mark, which is likely to be reached in 2034.

The global microplate luminometer market sales of is estimated to be worth USD 628.8 million in 2024 and anticipated to reach a value of USD 887 million by 2034. Sales are projected to rise at a CAGR of 3.5% over the forecast period between 2024 and 2034. The revenue generated by sector in 2023 was USD 607.5 million.

The projected development of the global lab accessory market forecast is likely to help the ecosystem reach USD 659.3 million by 2024. The estimated CAGR of 5.5% is likely to lift the landscape share to USD 1,126.1 million by 2034.

The global laparotomy sponge market outlook is estimated to be worth USD 1.3 billion in 2024 and anticipated to reach a value of USD 2.3 billion by 2034. Sales are projected to rise at a CAGR of 5.4% over the forecast period between 2024 and 2034.

A revenue of USD 1.1 billion is forecast for the internal radiation therapy market overview by 2024. It is projected that the market will expand at a 6.2% CAGR between 2024 and 2034. The internal radiation therapy market size is expected to reach USD 2 billion by 2034.

The worldwide medical equipment reimbursement market opportunity is expected to reach USD 581.6 million by 2024. Owing to an impressive CAGR of 11.5% through 2034, the industry is set to reach USD 1727.2 million by the end of the forecast period.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube