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Top Trends Supporting the Global Analgesics Market Growth<br>Over the past few years, self-medication has become a popular trend among individuals, which is influencing the market growth positively. On account of the rising penetration of the internet and smartphones, people can easily access health-related information and educate themselves about the benefits, side-effects and required dosage to self-administer different painkillers. Besides, the growing familiarity with the internet has led to the emergence of numerous e-commerce platforms that are collaborating with pharmaceutical manufacturers to maximize their sales.<br>The rising R&D activities are another major factor that is driving the market for analgesics. At present, several studies are underway to develop new and effective analgesic drugs. Most of these pipeline molecules are at their later stages and have exhibited good phase II and III results in terms of efficacy and safety. For instance, AmiKet, a late-stage product, is being developed for treating neuropathic pain related to chemotherapy-induced peripheral neuropathy. Other than this, hydromorphone by Daiichi Sankyo, RTX by Sorrento, and Tetrodotoxin by WEX Pharmaceuticals are some of the other later-stage pipeline molecules, which are expected to be launched during the forecast period as a solution of chronic and breakthrough pain resulting from cancer.
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Top Trends Supporting the Global Analgesics Market Growth Over the past few years, self-medication has become a popular trend among individuals, which is influencing the market growth positively. On account of the rising penetration of the internet and smartphones, people can easily access health-related information and educate themselves about the benefits, side-effects and required dosage to self-administer different painkillers. Besides, the growing familiarity with the internet has led to the emergence of numerous e-commerce platforms that are collaborating with pharmaceutical manufacturers to maximize their sales. The rising R&D activities are another major factor that is driving the market for analgesics. At present, several studies are underway to develop new and effective analgesic drugs. Most of these pipeline molecules are at their later stages and have exhibited good phase II and III results in terms of efficacy and safety. For instance, AmiKet, a late-stage product, is being developed for treating neuropathic pain related to chemotherapy-induced peripheral neuropathy. Other than this, hydromorphone by Daiichi Sankyo, RTX by Sorrento, and Tetrodotoxin by WEX Pharmaceuticals are some of the other later-stage pipeline molecules, which are expected to be launched during the forecast period as a solution of chronic and breakthrough pain resulting from cancer. In recent years, there has been a significant rise in the prevalence of chronic injuries and lifestyle diseases, including rheumatoid arthritis, gout, sprains, osteoarthritis, bursitis and strains. The market is further being driven by the growing geriatric population, enhancement in healthcare facilities, and the provision of improved and sophisticated medical treatment options. Market Segmentation The market has been segmented on the basis of the drug type into prescription and OTC analgesics, led by prescription analgesics. Based on the drug class, opioids are the largest segment, followed by NSAIDs and others. On the basis of the route of administration, the report covers oral, parenteral, topical, transdermal and rectal modes. Amongst these, oral is the most common route of administration. Moreover, musculoskeletal pain currently dominates the market, followed by surgical and trauma pain, cancer pain, neuropathic pain, migraine, obstetrical pain, fibromyalgia, pain due to burns, dental/facial pain, pediatric pain, and others. Also, the report has analyzed the market based on the application, which includes internal and external analgesics. At present, internal analgesics is the largest application area. On a regional basis, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Presently, North America is the biggest market, accounting for the majority of the total market share. This growth is the result of rising generics penetration, coupled with growing healthcare expenditure levels. The competitive structure of the market is fragmented in nature with numerous small and large players. It is currently attracting new entrants due to low product differentiation and increasing use. Some of the major players operating in the market include Bayer AG, Novartis AG, GlaxoSmithKline PLC, Pfizer Inc., Johnson & Johnson, Reckitt Benckiser (RB), Endo Pharmaceuticals, Bristol-Myers Squibb Company, Eli Lilly and Company, and Sanofi SA. Top Trends Supporting the Global Analgesics Market Growth Over the past few years, self-medication has become a popular trend among individuals, which is influencing the market growth positively. On account of the rising penetration of the internet and smartphones, people can easily access health-related information and educate themselves about the benefits, side-effects and required dosage to self-administer different painkillers. Besides, the growing familiarity with the internet has led to the emergence of numerous e-commerce platforms that are collaborating with pharmaceutical manufacturers to maximize their sales.
The rising R&D activities are another major factor that is driving the market for analgesics. At present, several studies are underway to develop new and effective analgesic drugs. Most of these pipeline molecules are at their later stages and have exhibited good phase II and III results in terms of efficacy and safety. For instance, AmiKet, a late-stage product, is being developed for treating neuropathic pain related to chemotherapy-induced peripheral neuropathy. Other than this, hydromorphone by Daiichi Sankyo, RTX by Sorrento, and Tetrodotoxin by WEX Pharmaceuticals are some of the other later-stage pipeline molecules, which are expected to be launched during the forecast period as a solution of chronic and breakthrough pain resulting from cancer. In recent years, there has been a significant rise in the prevalence of chronic injuries and lifestyle diseases, including rheumatoid arthritis, gout, sprains, osteoarthritis, bursitis and strains. The market is further being driven by the growing geriatric population, enhancement in healthcare facilities, and the provision of improved and sophisticated medical treatment options. Market Segmentation The market has been segmented on the basis of the drug type into prescription and OTC analgesics, led by prescription analgesics. Based dilaudid canada on the drug class, opioids are the largest segment, followed by NSAIDs and others. On the basis of the route of administration, the report covers oral, parenteral, topical, transdermal and rectal modes. Amongst these, oral is the most common route of administration. Moreover, musculoskeletal pain currently dominates the market, followed by surgical and trauma pain, cancer pain, neuropathic pain, migraine, obstetrical pain, fibromyalgia, pain due to burns, dental/facial pain, pediatric pain, and others. Also, the report has analyzed the market based on the application, which includes internal and external analgesics. At present, internal analgesics is the largest application area. On a regional basis, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Presently, North America is the biggest market, accounting for the majority of the total market share. This growth is the result of rising generics penetration, coupled with growing healthcare expenditure levels. The competitive structure of the market is fragmented in nature with numerous small and large players. It is currently attracting new entrants due to low product differentiation and increasing use. Some of the major players operating in the market include Bayer AG, Novartis AG, GlaxoSmithKline PLC, Pfizer Inc., Johnson & Johnson, Reckitt Benckiser (RB), Endo Pharmaceuticals, Bristol-Myers Squibb Company, Eli Lilly and Company, and Sanofi SA.
