Global Non-Steroidal Anti-inflammatory Drugs Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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How Much Growth is Expected for the Non-Steroidal Anti-inflammatory Drugs Market from 2024 to 2033?
The market size for non-steroidal anti-inflammatory drugs has seen significant growth in previous years. The market, which is projected to expand from $19.56 billion in 2023 to $20.93 billion in 2024, will achieve a compound annual growth rate (CAGR) of 7.0%. The increase in this historical period can be credited to factors such as chronic inflammatory diseases, management of pain after surgery, sports-related injuries, over-the-counter accessibility, an aging demographic, and consumer awareness.
Expectations are high for significant expansion of the non-steroidal anti-inflammatory drugs market in the upcoming years. The market size is anticipated to reach $27.09 billion by 2028, growing at a compound annual growth rate (CAGR) of 6.7%. This expected expansion during the forecast period can be connected to the advent of new pain management therapies, regulatory modifications, the usage of telehealth, worldwide wellness trends, competition from biosimilars, patient preferences, and precision medicine methodologies. Key trends for the forecast period involve a dominant over-the-counter (otc) market, an increased inclination towards cox-2 inhibitors, competition between generics and the market, and the incorporation of digital health technologies.
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What Factors Are Encouraging Growth in the non-steroidal anti-inflammatory drugs Market?
The escalating prevalence of chronic pain is anticipated to drive the expansion of the non-steroidal anti-inflammatory drugs market in the coming times. Chronic pain signifies a discomfort that lasts over half a year. Non-steroidal anti-inflammatory drugs are employed to mend injuries and deal with chronic pain. For instance, the CDC (Centers for Disease Control and Prevention), a government agency based in the US, reported in April 2022 that arthritis was often the cause of chronic pain, affecting a large population in the US. Roughly one in four adults among 15 million sufferers endure severe joint pain related to arthritis. Hence, the escalating rate of chronic pain propels the expansion of the non-steroidal anti-inflammatory drugs market.
Which Key Segments Shape the Non-Steroidal Anti-inflammatory Drugs Market?
The non-steroidal anti-inflammatory drugs market covered in this report is segmented –
1) By Route of Administration: Oral, Topical, Other Route of Administration
2) By Disease Indication: Arthritis, Migraine, Ophthalmic Diseases, Other Disease Indications
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
What Trends Are Driving Change in the Non-Steroidal Anti-inflammatory Drugs Market?
A dominant trend within the non-steroidal anti-inflammatory drugs market is the development of innovative products. Significant players in this industry are focusing on the invention of new technological solutions. For instance, Ono and Seikagaku, a company in Japan that specializes in non-steroidal anti-inflammatory drugs, unveiled JOYCLU, a 30 mg intra-articular injection in May 2021. This preparation uses Seikagaku’s unique technology to chemically conjoin hyaluronic acid with diclofenac, an anti-inflammatory drug. Purposed to discharge diclofenac in the joint through hydrolysis, it is approved for treating osteoarthritis and is anticipated to alleviate symptoms following a four-week intra-articular injection. Administered as an injection directly into the joint cavity, it minimizes systemic exposure to diclofenac, thereby reducing the likelihood of a systemic adverse drug reaction. This is the first drug of its kind in Japan to be indicated for hip joint osteoarthritis among joint function enhancement drugs.
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What Regions Are Contributing Significantly to the Growth of the Non-Steroidal Anti-inflammatory Drugs Market?
North America was the largest region in the non-steroidal anti-inflammatory drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the non-steroidal anti-inflammatory drugs market during the forecast period. The regions covered in the non-steroidal anti-inflammatory drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Non-Steroidal Anti-inflammatory Drugs Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the non-steroidal anti-inflammatory drugs market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Non-Steroidal Anti-inflammatory Drugs Market Include
1. Non-Steroidal Anti-inflammatory Drugs Market Executive Summary
2. Non-Steroidal Anti-inflammatory Drugs Market Segments
3. Non-Steroidal Anti-inflammatory Drugs Market Size And Template Market Growth Rate
4. Key Non-Steroidal Anti-inflammatory Drugs Market Trends
5. Major Non-Steroidal Anti-inflammatory Drugs Market Drivers
……
25. Key Mergers And Acquisitions In The Non-Steroidal Anti-inflammatory Drugs Market
26. Top Non-Steroidal Anti-inflammatory Drugs Companies
27. Non-Steroidal Anti-inflammatory Drugs Market Opportunities And Strategies
28. Non-Steroidal Anti-inflammatory Drugs Market, Conclusions And Recommendations
29. Appendix
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