The global painkiller market is on an upward trajectory, projected to achieve a valuation of approximately US$ 100.9 billion by 2033, with a compound annual growth rate (CAGR) of 3.7%. According to a recent analysis by Future Industry Insights, opioids currently dominate the industry, commanding a share of roughly 53.4% in the global market in 2022.
While opioids have long been the cornerstone of pain management, concerns over their addictive properties and potential for abuse have prompted a shift towards non-opioid alternatives. Producers are focusing on developing innovative non-opioid medications with extended-release delivery systems, offering prolonged relief for postoperative pain while mitigating the risk of addiction and dependence.
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Ultimately, the creation of extended-release painkillers that aren’t opioids is a critical step in combating the opioid crisis and giving patients a safer alternative. As a result, throughout the projected period of 2023 to 2033, this development will propel the market for painkillers as a whole.
Key Takeaways:
- The global painkiller market is estimated at US$70.0 billion in 2023 and is projected to reach US$100.9 billion by 2033, reflecting a steady CAGR of 3.7%.
- Opioids currently dominate the market, holding a share of approximately 53.4% in 2022. However, the market is expected to see a rise in demand for alternative pain management solutions.
Competitive Landscape:
Key market players in the painkillers market launch their products. This promotional strategy is expected to be highly impactful to enter into the market.
A few of the recent instances include
- In March 2023, Perrigo Company plc received final approval for its Abbreviated New Drug Application from the “FDA” for ibuprofen Tablets and acetaminophen, 250 mg/125 mg.
- In January 2023, Procter & Gamble (P&G) India added new Vicks ZzzQuil NATURA to its existing portfolio of Vicks in India.
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the Painkillers market, which are available in the full report.
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Key Companies Profiled:
- AbbVie Inc. (Allergan plc)
- Bristol Myers Squibb Co.
- Sanofi S.A.
- Boehringer Ingelheim International GmbH
- Pfizer Inc.
- Zydus Lifesciences Ltd. (Cadila Pharmaceuticals)
- GSK plc.
- Abbott Laboratories, Inc.
- Novartis AG
- Johnson & Johnson (Janssen Pharmaceuticals, Inc.)
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceuticals Ltd.
- Mallinckrodt Pharmaceuticals
- Endo Pharmaceuticals Inc.
- Bayer AG
- F. Hoffmann-La Roche Ltd.
- Procter & Gamble
- AstraZeneca
- Cardinal Health
- Perrigo Company Plc.
- Bausch Health Companies Inc.
- Viatris
- Amneal Pharmaceuticals
- Purdue Pharmaceuticals L.P.
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
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- Middle East and Africa
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