Analgesics are the medicines that alter perception, sensation, and sometimes also affects consciousness of individuals by blocking nerve impulses selectively to provide relief from pain. Analgesic drugs are generally available in three categories namely non-steroidal anti-inflammatory drugs (NSAID), opioids, and local anesthetics. The NSAID reduces pain by selectively reducing the local inflammatory reactions, opioids have their action on the brain and are utilized both in short-term and long-term relief from severe pain, while local anesthetics block the generation and the conduction of nerve impulses. Thus, analgesics form one of the largest markets in the overall pharmaceutical drugs market.
Analgesics Market: Drivers and Restraints
High prevalence of pain worldwide, driven by an increase in the many disorders related with pain, is highly endorsing the growth of analgesics market. In addition, aging population, increasing acceptance of analgesics drugs, addition of new drugs, rising consumer awareness levels and increasing effective treatment opportunities are responsible for driving analgesics market. Growing geriatric population will be the most important growth driver for this market as such population suffer from pain due to various diseases that occurs in the old age. Due to the increasing therapeutic benefits offered by such drugs along with the faster and effective pain relief, analgesics find increased acceptance by geriatric population. The new innovative drug treatments in the category and increasing awareness about such treatments would drive the growth of this market further in future. However, chronic side effects, susceptible to abuse, high prices of drugs, limited commercialization of new products, and stringent government policies would hinder the growth of analgesics market.
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Analgesics Market: Segmentation
The global analgesics market has been classified on the basis of therapeutics class, pain type, and application.
By therapeutics class, the global analgesics market is segmented into the following:
- Local anesthetics
- Antimigrain agents
- Triptans, ergot alkaloids
Based on application, the global analgesics market is segmented into the following:
- External Analgesics
- Internal Analgesics
Based on pain type, the global analgesics market is segmented into the following:
- Neuropathic pain
- Inflammatory pain
- Surgical pain
- Cancer pain
- Wound care pain
- Physiologic pain
- Pain arising from other diseases
Analgesics Market: Overview
By therapeutic class, NSAID holds prominent share owing to high unmet medical requirements in pain management segment. By application, internal analgesics is leading the analgesic market. Acetaminophen, a drug under internal analgesics segment is representing the largest product segment. External analgesics market is also growing evidently due to introduction of new competitors in the market, and increased advertising.
Analgesics Market: Region-wise Outlook
Geographically, North America is the largest analgesics market followed by the Europe. The aging population in the U.S. is the major factor for the region to contribute maximum towards this market. The new opioids and non-opioids will also help meet the unmet needs of the large geriatric population of the region. Europe is also bound to grow due to their high geriatric population and commercialization of new drugs. Asia-Pacific market will experience the highest rate of growth due to the increasing consumer awareness and increasing healthcare expenditure in the region.
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Analgesics Market: Key Players
Key companies operational in analgesics market are Actavis, Inc., AstraZeneca plc, Bayer AG, Boehringer Ingelheim GmbH, F. Hoffmann-La Roche Ltd., Novartis AG, Johnson & Johnson, Pfizer, Inc., Sanofi, GlaxoSmithKline plc, Reckitt Benckiser plc and Teva Pharmaceutical Industries Ltd.