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DUBLIN--(BUSINESS WIRE)--Oct 27, 2022--
The "Analgesics Market By Type, By Route of Administration: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global analgesics market was valued at $26,654.4 million in 2020, and is projected to reach $50,682.6 million by 2030, registering a CAGR of 6.6% during the forecast period 2021-2030. Analgesics, also known as painkillers, are used to treat and reduce pain in the body.
Typically, they are used when the pain is severe and becomes unbearable for the patient. Non-opioids, opioids, and compound analgesics (a combination of both, opioids and non-opioids) are the major analgesic products used globally. The emergence of painkillers is mainly attributed to the increase in acute and chronic diseases, as well as the rise in incidences of cancer globally.
Opioid drugs are the strongest types of painkillers, which are derived from opium. They are chiefly used for the treatment of moderate to severe pain and are mostly available through prescription. On the other hand, non-opioid drugs are not derived from opium but include acetaminophen.
They also include non-steroidal anti-inflammatory drugs (NSAIDs) and are majorly used for the treatment of mild to moderate pain. In addition, non-opioid drugs are sometimes used alongside stronger painkillers. They are mostly available over-the-counter (OTC); however, some NSAIDs, such as Celebrex, Cataflam, and Motrin, are available through prescription only.
The global analgesics market is expected to achieve moderate growth in the near future, majorly because of factors, such as increase in cardiovascular disease, cancer, and arthritis and surge in geriatric population. Recurring pain and aches experienced by the ageing population is another factor drives the market growth.
In addition, increase in investments in R&D by public and private sectors, with key emphasis on the classes of compounds for formulating new therapeutics, is further expected to drive the analgesics market growth. However, factors such as uncontrolled prescription of opioids, drug abuse, and unregulated government policies are expected to restrain the growth of the global analgesics market.
Key Benefits For Stakeholders
Key Market Segments
By Type
By Route of Administration
By Region
Key Market Players
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KEYWORD:
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
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PUB: 10/27/2022 04:14 AM/DISC: 10/27/2022 04:14 AM
http://www.businesswire.com/news/home/20221027005476/en