Global Analgesics Market 2016-2020

Global analgesics market forecast

According to the analgesics market statistics, the global analgesics market is envisaged to grow steadily and will post a CAGR of more than 4% over the forecast period. The advent of favorable regulatory norms and healthcare reforms around the world have encouraged the initiation and uptake of pain management programs to reduce the overall healthcare costs. For instance, the US Patient Protection and Affordable Care Act has provision for pain management. Such healthcare reforms have paved the way toward the development of effective analgesic medications. This recent increase in the introduction of favorable regulatory norms will lead to the augmented adoption of analgesics and will increase the analgesics market size in the coming years.

The increasing use of off-label drugs is one of the significant trends spurring the growth prospects of this market over the forecast period. Off-label drugs are unapproved medications that are effective in treating diseases. Several off-label drugs, such as tricyclic antidepressants, selective serotonin reuptake inhibitors, antihistamines, anti-anxiety drugs, anticonvulsants, steroids, and analgesics are being increasingly used to manage the symptoms of pain. These drugs are prescribed with approved drugs as maintenance therapies. Moreover, since these drugs are less expensive than approved drugs, it will contribute to this market’s growth over the next four years.

Segmentation by type and analysis of the analgesics market 

• Prescription analgesics
• OTC analgesics

The prescription analgesics segment dominated the market and accounted for a market share of more than 52% over the forecast period. The growth of this market is attributed to the growing popularity of generics for pain management. Apart from their affordability, the rising number of individuals requiring analgesics and the widening distribution channels will propel the growth prospects for this segment by 2020.

Geographical segmentation and analysis of the analgesics market

• Americas
• APAC
• EMEA

In terms of geography, the Americas led the global analgesics market and is anticipated to reach more than USD 18 billion by 2020. The rising prevalence of osteoarthritis is one of the most important drivers propelling this market’s growth in the Americas. Moreover, better access to healthcare services and various initiatives by the government to improve the healthcare infrastructure in the country will aid in the growth of this market in this region.

Competitive landscape and key vendors

The global analgesics market is highly fragmented owing to the presence of several small and large vendors. Due to the influx of new vendors, the level of competition is likely to intensify over the forecast period. Players in the market are constantly looking for ways to enhance their market presence by focusing on the implementation of various new business models and M&A activities.

Key vendors in this market are 

• Pfizer
• Bayer HealthCare
• Sanofi
• Endo
• Johnson & Johnson
• Purdue Pharma

Other prominent vendors in the market are Achelios Therapeutics, Alder BioPharmaceuticals, Allergan, Amgen, AstraZeneca plc, Baxter, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, CoLucid Pharmaceuticals, Daiichi Sankyo Company, Dr. Reddy's Laboratories, DURECT Corporation, El Lilly & Company, F. Hoffmann-La Roche AG, GlaxoSmithKline plc, GW Pharmaceuticals, Hospira, Immune Pharmaceuticals, Innovative Med Concepts LLC, Merck, NeurAxon, Novartis AG, OptiNose, Pain Therapeutics, RedHill, Sorrento Therapeutics, Suda, Taro Pharmaceuticals Industries, Teva Pharmaceuticals Industries, Tonix Pharmaceuticals Holding, Trigemina, UCB SA, Valeant Pharmaceuticals International, WEX Pharmaceuticals, and Zynerba Pharmaceuticals.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global analgesics market?
• What are the key market trends impacting the growth of the global analgesics market?
• What are the challenges to market growth?
• Who are the key vendors in the global analgesics market?
• What are the market opportunities and threats faced by the vendors in the global analgesics market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global analgesics market?

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Related reports:

• Global Rheumatoid Arthritis Drugs Market 2016-2020
• Global Osteoarthritis Pain Drugs Market 2016-2020
• Global Pain Management Drugs Market 2016-2020