Analgesics Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2018-2033

Analgesics Are Gaining Traction as The Number of Medical Surgeries Increases Across the World

Factors such as increased need for accurate and suitable laparoscopic surgical operations, increased need for surgeries for the geriatric population, and an increase in the number of accident wounds have all led to the increased usage of analgesics. The increasing number of surgeries conducted globally is expected to boost analgesic demand in the future years. According to the NCBI, around 310 Mn major surgeries are recorded annually; of these, 40-50 Mn are performed in the United States and approximately 20 Mn in Europe. Analgesia is a crucial part of perioperative care for patients having open abdominal surgery. It has been well established that adequate pain management not only improves patient well-being but also improves post-operative recovery. Traditional methods, such as central neuraxial blocking and opioids, cannot be used on patients having fast-track surgery. As a result, an aggressive perioperative analgesic regimen/protocol is necessary for efficient pain management with minimum side effects that may be effectively controlled at home by the patient or family away from the hospital setting.

Commercialization of Opioid-Tolerant Drugs Is Expected to Propel Market Growth

Many people believe that a certain dose of opioids is ineffective in situations of extreme pain. These people require higher dosages of medicines to relieve pain, which eventually leads to opioid tolerance and, in some cases, addiction. As a result, commercialising opioid-tolerant medications is projected to be one of the primary prospects for opioid pharmaceuticals market participants. This will also assist to reduce the adverse effects associated with or induced by increasing opioid medication intake. Opioids are widely used for pain management in North America and Western Europe, but due to increased use of opioids for non-medical purposes, the respective countries' governing bodies are encouraging doctors to fill prescriptions for non-opioid analgesics, providing an opportunity for companies to introduce novel non-opioid drugs. For example, in February 2022, the United States Food and Drug Administration started efforts to find non-addictive opioid alternatives to manage pain and decrease exposure to opioids in order to tackle new addiction. Similarly, in April 2022, ACSQHC developed a new standard of care for the prudent administration of opioid analgesics in emergency rooms after surgical operations. Non-opioid analgesics are being introduced in regions such as Africa and Asia, where opioids and non-opioid medications with innovative drug delivery methods are not readily available for pain management, providing opportunities for the analgesics industry to flourish.

Non-Opioid Segment Is Accelerating Analgesics Market Growth

In 2022, the non-opioid segment dominated the analgesics market. This is attributed to increased demand for non-opioid analgesics due to lowered risk of side effects, widespread availability of generic preparations, and novel initiatives undertaken by business organisations and governments to promote the use of non-opioid preparations in pain treatment. The favourable results of non-opioid medications in clinical trials have contributed to expansion. For example, Vertex Pharmaceuticals published a positive phase II trial results for their non-opioid candidate VX-548 in March 2022.

Increasing Popularity of Biologics Is Likely to Pose A Challenge

The increasing popularity of biologics for treating neuropathic and inflammatory pain is restraining the expansion of the analgesics market. Biologics are more efficient than analgesics, which only give effective pain relief in half of the patients, and are thus utilised more frequently nowadays. The high cost of medication research and delivery will stymie analgesic industry expansion. Furthermore, a lack of healthcare facilities and competent experts will be obstacles. Furthermore, government limitations and a lack of awareness will stymie market expansion.

Pfizer Inc. announced on March 20, 2023 that the US Food and Drug Administration (FDA) has authorised ZAVZPRETTM (zavegepant), the first and only calcitonin gene-related peptide, or CG receptor antagonist nasal spray for the immediate treatment of migraine with or without aura in adults. ZAVZPRET was significantly better to placebo on the co-primary objectives of pain freedom and freedom from most annoying symptom at two hours post-dose in its pivotal Phase 3 trial.

Biohaven Pharmaceutical Holding Company Ltd. was acquired by Pfizer Inc. in May 2022. The acquisition was made in order to manufacture NURTEC ODT for acute therapy and episodic prevention of migraine in adults.

AbbVie Inc. (Allergan plc), Assertio Therapeutics, Inc., Bausch Health Companies Inc., Bayer AG, Boehringer Ingelheim International GmbH, Endo Pharmaceuticals Inc., GlaxoSmithKline plc., Janssen Pharmaceuticals, Inc. [Johnson & Johnson], Mallinckrodt Pharmaceuticals, Novartis AG, Pfizer Inc., Purdue Pharmaceuticals L.P., Sanofi SA, Sun Pharmaceutical Industries, Inc. and Teva Pharmaceuticals are some of the prominent market players operating in the global analgesics market.

A Higher Prevalence of Chronic Diseases in North America Drives Market Expansion

North America accounted for the highest revenue share of the analgesics market. An increase in the prevalence of chronic diseases among the Canadian population, as well as comorbidities associated with the diseases, are expected to boost the growth of the analgesics market over the forecast period. According to Statistics Canada, 23% of Canadian people aged 20 to 79 have been diagnosed with hypertension by a health-care professional, are using anti-hypertensive medication, or have high measured blood pressure corresponding to stage 2 hypertension. According to the Arthritis Society of Canada, roughly 6 Mn people have arthritis, with a projected increase to 9 Mn by 2040. Furthermore, the rising number of surgeries and numerous government attempts to protect the use of analgesics are likely to boost regional growth throughout the forecast period. For example, in 2022, the CDC issued new opioid prescribing guidelines to encourage the prudent use of opioids, reflecting the increasing need for innovative analgesics in pain treatment. As a result of rising chronic diseases and analgesic medication usage, the North American market is projected to grow in the future. The report provides a detailed overview of the analgesics market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for analgesics market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the analgesics market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the analgesics market. Some key country and region included in the analgesics market report as follows:

North America (U.S., Canada)

Latin America (Mexico, Argentina, Brazil, Peru, Chile)

Europe (Germany, France, Italy, U.K., BENELUX, Nordics, Spain, Poland, Russia, CIS)

Asia Pacific (China, ASEAN, India, Japan, South Korea)

Oceania (Australia, New Zealand)

Middle East and Africa (South Africa, GCC Countries, Turkey, Israel, Iran)

The Analgesics Market Research Report Covers In-depth Analysis on:

·         Analgesics market segments

·         Analgesics market dynamics

·         Analgesics market value and share analysis

·         Recent trends, restraints, opportunities in analgesics market

·         Companies & competition involved analgesics market

·         Latest technologies in analgesics market

·         Supply chain and value chain analgesics market

·         Analgesics market sales and distribution strategies

Analgesics Market Growth Highlights:

·         A comprehensive overview of parent market

·         Market dynamics, demand and trends in the industry

·         Current, historical and anticipated market size in terms of volume

·         In-depth market segmentation

·         Competition landscape

·         Key strategies of leading companies and product portfolio

·         Analgesics industry trends and developments

·         Potential and country, regions and segments exhibiting future growth

·         A detailed viewpoint on analgesics market forecast by countries

·         Essential information to enhance market position