The global painkiller market is projected to be valued at US$ 70.0 billion. It is projected to grow at a compound annual growth rate (CAGR) of 3.7% to reach a valuation of around US$ 100.9 billion by 2033. Opioids are ruling the industry, with a share of roughly 53.4% in the global market in 2022, according to a recent analysis by Future industry Insights.
Producers are concentrating on creating non-opioid medications that can relieve postoperative pain for a longer amount of time using a revolutionary extended-release delivery system. Although opioid medications are very effective at relieving pain, they can also be quite addictive and cause abuse and dependence. The need for alternatives to opioids for pain relief is rising as a result of the opioid crisis.
Initiate In-Depth Research With Your Sample:
https://www.futuremarketinsights.com/reports/sample/rep-gb-17075
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.
Our Methodology Overview:
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-17075
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
In-Depth Market Overview: Purchase Now to Access:
https://www.futuremarketinsights.com/checkout/17075
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
