The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s analgesics market report forecasts the analgesics market size to grow to $127.80 Billion by 2027, with a CAGR (compound annual growth rate) of more than 2%.

Learn More On The Analgesics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/analgesics-global-market-report

Analgesics Market Size Forecast
The global analgesics market is expected to grow from $111.15 billion in 2022 to $115.13 billion in 2023 at a compound annual growth rate (CAGR) of 3.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global analgesics market size is expected to grow to $127.80 billion in 2027 at a CAGR of 2.6%.

North America held the largest analgesics market share, and Middle East was the fastest-growing region in 2022.

Key Analgesics Market Driver ­– Increase In Use Of Biologics For The Treatment Of Inflammatory And Neuropathic Pain

For instance, Pfizer and Lilly were granted approval by the FDA for developing Tanezumab, a biologics medicine.

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Key Analgesics Market Trend – Focusing On Acquisition
Companies in the analgesics market are increasingly focusing on acquisition as a strategy for growth. Leading analgesic drug manufacturers are acquiring smaller companies to gain a competitive advantage and strengthen their market position. These acquisitions are helping companies to expand geographically and gain specialized expertise in the research and development of new products. For instance, Analgesic Solutions, LLC was acquired by WCG. WCG intends to make use of the superior R&D capability of Analgesic Solutions, LLC to grow and position itself as a market leader in the Analgesic Market.

Analgesics Market Segment
1) By Type: Non-opioids, Opioids
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Drug Stores
3) By Route of Administration: Oral, Intravenous, Rectal, Transdermal, Topical
4) By Drug Type: Prescription Analgesics, OTC Analgesics
5) By Application: Internal Analgesics, External Analgesics

Analgesics Market Major Players and Strategies
Major players in the analgesics market are Bayer Healthcare, Pfizer, Sanofi, Johnson & Johnson, Novartis AG, GlaxoSmithKline PLC., Reckitt Benckiser (RB), Endo Pharmaceuticals, Bristol-Myers Squibb, and Eli Lilly and Company.

The Analgesics Global Market Report 2023 covers regional data on analgesics market size, analgesics market trends and drivers, opportunities, strategies, and analgesics market competitor analysis. The countries covered in the analgesics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Analgesics are the pain killers that are used to treat mild or severe pain, including musculoskeletal pain, surgical, trauma pain, cancer pain, or another type of pain. Examples of analgesics include codeine, hydrocodone, oxycodone, and methadone.

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