The oral analgesics segment held about half of the market share in 2021, and is anticipated to maintain this trend throughout the forecast period. This is mainly attributed to the higher use of oral analgesics as compared to intravenous and topical analgesics. Economical cost, ease of availability, and high popularity of oral analgesics are the key factors responsible for the dominance of this segment.
According to the report published by Allied Market Research, Analgesics Market by Type (Non-opioids, Opioids) and Route of Administration (Oral, Intravenous, Rectal, Transdermal, Topical) – Global Opportunity Analysis and Industry Forecast, 2022 – 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “The oral analgesics segment held about half of the market share in 2015, and is anticipated to maintain this trend throughout the forecast period. This is mainly attributed to the higher use of oral analgesics as compared to intravenous and topical analgesics. Economical cost, ease of availability, and high popularity of oral analgesics are the key factors responsible for the dominance of this segment.”
North America accounted for a major share of the overall analgesics market revenue in 2015, owing to large number of pharmaceutical companies in this region. The analgesics market in developing economies, such as China and India, has numerous growth opportunities because of the availability of cheap raw materials and economical workforce. The global analgesics manufacturers are relocating their facilities into developing economies by agreements or acquisitions with local players. Moreover, increasing use of analgesics in countries such Nigeria, China, and India supports the growth of analgesics in developing economies.
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The key companies profiled in the report are Bayer AG, Novartis AG, GlaxoSmithKline PLC, Pfizer Inc., Johnson & Johnson, Reckitt Benckiser (RB), Endo Pharmaceuticals, Bristol-Myers Squibb, Eli Lilly and Company, and Sanofi S.A.
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