by Anti-inflammatory drugs are used to treat chronic diseases like arthritis and joint pain, heart diseases, and other conditions where inflammation persists for a long time. These drugs help in reducing inflammation, swelling, pain, and disability. Increasing prevalence of chronic diseases and aging population have accelerated the demand for anti-inflammatory drugs globally.
The global Anti-Inflammatory Drugs Market is estimated to be valued at US$ 135 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Chronic diseases like arthritis and heart diseases cause persistent inflammation in joints and tissues of the body. Long term usage of anti-inflammatory drugs provides relief from pain and swelling associated with chronic inflammations. As per recent estimates, around 1.3 billion people globally suffer from various chronic diseases. The rising geriatric population who are more prone to chronic diseases also contributes to the increased demand for anti-inflammatory drugs. Furthermore, development of novel drug delivery systems to improve effectiveness and reduce side-effects of existing anti-inflammatory drugs is another trend boosting the anti-inflammatory drugs market.
Segment Analysis
The global anti-inflammatory drugs market is dominated by the OTC pain relief segment which accounts for around 60% of the total market share. Pain relievers like ibuprofen, diclofenac and naproxen are majorly used by consumers for minor body aches, swelling and fever on a self-medication basis without a doctor’s prescription. These are available as tablets, capsules, gels or creams over-the-counter at pharmacy stores and supermarkets. Their wide accessibility, affordability and quick relief-providing ability make them the most preferable choice for common ailments.
Key Takeaways
The global anti-inflammatory drugs market is expected to witness high growth over the forecast period due to rising geriatric population afflicted with arthritis and other chronic pain conditions.
Regional analysis: North America accounts for the largest share in the global anti-inflammatory drugs market currently. This is attributed to high healthcare expenditure and growing demand for pain relief in the region. Asia Pacific is projected to witness the fastest growth during the forecast period driven by expanding patient pool, increasing healthcare awareness and improved access in developing nations.
Key players: Major companies operating in the anti-inflammatory drugs market include Pfizer, GSK, Novartis, Johnson & Johnson and Merck. Pfizer holds the leading position with top-selling brands like Celebrex and Advil contributing significantly to its revenues. GSK is another prominent pharmaceutical company with robust anti-inflammatory drugs portfolio including Voltaren and Panadol.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
