With a compound yearly growth rate of 3.7%, the painkillers market growth is projected to reach a valuation of US$ 70.0 billion by the end of 2023 and US$ 100.9 billion by the end of 2033. With a share of about 53.4%, opioids will command the highest price on the global market in 2022, according to a recent estimate by Future Market Insights.
The regulatory environment surrounding Painkillers has a big impact on the market’s expansion. These rules are necessary to protect patient safety and stop the overuse and abuse of Painkillers, but too many rules could prohibit people from accessing appropriate pain relief solutions.
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The use of opioid Painkillers have been subject to stronger controls and limitations as a result of heightened scrutiny in recent years. This has given non-narcotic Painkillers like NSAIDs (non-steroidal anti-inflammatory medicines) and other non-narcotic drugs the chance to increase their market share.
The regulatory attempts to enhance pain management and decrease opioid abuse, like prescription drug monitoring programs and physician education initiatives, may present the potential for businesses to provide alternative pain management options.
Clinical advancements in the delivery and formulation of analgesic medications are a constant priority for several top pharmaceutical companies. Additionally, they are creating safer opioids with reduced side effects and efficient pain management.
The creation of analgesic formulations with abuse-deterrent qualities that are more challenging to manipulate for snorting or injection — the methods of administration most frequently associated with addiction due to their rewarding effects — is perhaps the most notable clinical improvement.
Key Players:
- AbbVie Inc. (Allergan plc)
- Bristol Myers Squibb Co.
- Sanofi S.A.
- Boehringer Ingelheim International GmbH
- Pfizer Inc.
- Zydus Lifesciences Ltd. (Cadila Pharmaceuticals)
- GSK plc.
- Others
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Key Market Segments Covered in Painkillers Industry Research
By Drug Class:
- Opioids
- Tramadol
- Oxycodone
- Hydrocodone
- Other Opioids
- NSAIDs
- Local Anesthetics
- Acetaminophen
By Product:
- OTC Products
- Prescription Drugs
By Indication:
- Surgical Pain
- Cancer Pain
- Neuropathic Pain
- Musculoskeletal and Joint Pain
- Others
By Route of Administration:
- Injectable
- Oral
- Rectal
- Topical
- Transdermal
- Others
By Distribution Channel:
- Hospital Pharmacies
- Specialty Clinics
- Long-Term Care Centers
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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