by The global Anti-Inflammatory Drugs Market is estimated to be valued at US$ 102248.44 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Anti-inflammatory drugs are used to treat inflammation and pain associated with various conditions and diseases. Some common anti-inflammatory drugs include ibuprofen, naproxen, diclofenac etc. These drugs help relieve symptoms of pain, swelling and stiffness caused due to inflammation. The increasing prevalence of lifestyle diseases such as arthritis and rising geriatric population suffering from chronic conditions drive the demand for anti-inflammatory drugs globally. The global anti-inflammatory drugs Market provides an effective treatment option for chronic pains associated with arthritis and other orthopedic disorders effectively.
Market key trends:
The increasing prevalence of chronic diseases is one of the major trends driving the growth of the anti-inflammatory drugs market. Chronic diseases and conditions like arthritis, cervical spondylosis, etc. typically cause persistent inflammation in the body. With rising geriatric population worldwide suffering from age-related health issues, the demand for anti-inflammatory drugs to manage chronic pains is growing significantly. It is estimated that by 2030, around 1.5 billion people worldwide will be suffering from some form of arthritis. Moreover, changing lifestyle habits and rising obesity levels are contributing to the growing incidences of chronic diseases, thereby propelling the need for anti-inflammatory drugs for long-term treatment and management of pains.
SWOT Analysis
Strength: The anti-inflammatory drugs market has a strong presence of major players who invest heavily in R&D to develop novel drugs. Demand for anti-inflammatory drugs is high due to the growing geriatric population suffering from arthritis and other joint disorders.
Weakness: Side effects associated with long term usage of anti-inflammatory drugs can hamper the growth. The patent expiration of major drugs results in more competitors adding price pressure.
Opportunity: Emerging economies with large populations provide major opportunities for anti-inflammatory drugs companies. Developing countries are focusing on healthcare reforms which may support market growth.
Threats: Stringent regulations related to approval of new drugs can delay launches impacting revenues. The threat from alternative treatment options and generics introduction after patent expiration of major drugs.
Key Takeaways
The Global Anti-Inflammatory Drugs Market Size is expected to witness high growth. The global Anti-Inflammatory Drugs Market is estimated to be valued at US$ 102248.44 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030.
The North America region currently dominates the anti-inflammatory drugs market owing to rising arthritis cases and supportive healthcare reforms. Asia Pacific is expected to grow at the fastest pace due to improving healthcare infrastructure, increasing income, and expansion of key players in developing countries.
Key players
Key players operating in the anti-inflammatory drugs market are Pfizer, Inc., GlaxoSmithKline plc, Johnson & Johnson Services Inc., Merck & Company, Inc., Novartis AG, Amgen, Inc., AstraZeneca plc, Eli Lily and Company, AbbVie Inc., F. Hoffmann-La Roche AG, Bristol Myers Squibb Company, Biogen Inc., Sun Pharmaceutical Industries Ltd, Mylan, Inc., Aurobindo Pharma Limited, and Dr. Reddy€TMs Laboratories. Major players focus on new product development and acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
