Analgesics Market is accounted approximate USD 31.3 billion in 2020 and it is expected to reach approximate USD 45.0 billion by 2030 with a CAGR of 3.4% during forecast period. Analgesics encompass a group of drugs that are designed to relieve pain without causing the loss of consciousness.  Moreover, analgesics are differing from anesthetics, which temporarily affect and some instances completely eliminate sensation. Additionally, analgesics drugs used to reduce fever and relieve mild to moderate pain from conditions such as muscle aches, toothaches, common cold and headaches.

Market Segmentation:

On the basis of type it is segmented into opioids, non-opioids and compound analgesics. Based on the route of administration it is classified into oral, intravenous, rectal, transdermal and topical. According to research study, oral route of administration held a dominant position in 2017 and it is anticipated maintain same trend during forecast period. On the basis of end user it is segmented into hospitals, pharmacy and family. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Market Dynamics and Factors:

Rise in recurring aches and pains owing to an increase in the prevalence of cancer, cardiovascular disease, arthritis and other chronic and acute disease driving the demand for analgesics in the market. Additionally, the therapeutic benefits offered by analgesics in addition to effective and fast relief from pain, have significantly driven the market for analgesics. In addition, increasing investment in R & D by the public and private sector for formulating new therapeutics are driving the market. Moreover, the development of innovative drugs and rising awareness about these treatments among the consumers can be opportunity for the market. Furthermore, the increase in popularity of personalized medicine is anticipated to provide growth opportunities for the analgesics market. However, factors such as uncontrolled prescription of opioids, drug abuse are likely to restrain the analgesics market.

Geographic Analysis:

North America is dominating the market and is anticipated to maintain same trend during the forecast period. According to research study, guidelines of U.S. food and drug administration (FDA), medicines and healthcare products regulatory agencies in the region are driving the market. Moreover, North America accounted for approximate one-third of the global analgesics market in 2017. Europe is the second largest shareholder for analgesics market. Rapid commercialization of new drugs and an increasing geriatric population in the region are driving the market. Asia pacific region is anticipated to be the fastest growing analgesics market and is expected to grow with approximate CAGR of 2.8% during forecast period.

Competitive Scenario:

Some of the key players in market are Teva Pharmaceuticals industries Ltd., Bayer AG., GlaxoSmithKline PLC., Novartis AG., Reckitt Benckiser Plc, Johnson & Johnson, Endo Pharmaceuticals, Pfizer Inc., Hoffmann-La Roche ltd., and Sanofi SA.

Analgesics Market Report Scope