Demand for Analgesics Set for Stupendous Growth in and Post 2020, Buoyed by the Global COVID-19 Pandemic
This Future Market Insights (FMI) report examines the ‘Global Analgesics Market’ for the period 2018–2028. The primary objective of the report is to offer updates and information related to market opportunities in the global analgesics market.
The Analgesics Market is Segmented Based on:
- Drug Class
- Pain Type
- Distribution Channel
This report covers the global analgesics market performance in terms of revenue contribution from various segments. The global analgesics market report begins with an overview and its definitions. The market viewpoints section underlines macro-economic factors influencing the growth of the global analgesics market along with detailing the opportunity analysis of the market. This is then followed by the key market drivers, restraints and trends.
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When considering the analgesics market, it is split by prescription and over-the-counter (OTC) analgesics. Each segment of the global analgesics market is tracked by prescription and OTC revenue generation.
By drug class, the global analgesics market is segmented as opioids, non-steroidal anti-inflammatory drugs (NSAIDs), local anaesthetics and acetaminophen. The drug class segment is analysed by both prescription analgesics and OTC analgesics. Opioids is expected to remain the dominant segment due to their higher efficacy in pain management. The premium price of opioid also helps it to generate more revenue as compared to other types of analgesics. The adoption of opioid analgesics is higher in North America and Western Europe due to reimbursements and easy availability. Whereas, NSAIDs analgesics are highly adopted in Asia-Pacific, Eastern Europe and Latin America.
By pain type, the global analgesics market is segmented as surgical pain, cancer pain, neuropathic pain and other types of pain. The surgical pain is expected to be the dominant segment in the global analgesics market followed by cancer pain and neuropathic pain, respectively. This segment is also split into prescription analgesics and OTC analgesics.
By distribution channel, the global analgesics market is segmented into hospital pharmacies, retail pharmacies, drug stores, clinics and others. This considers revenue generation by prescription analgesics and OTC analgesics separately.
By region, the global analgesics market has been segmented into North America (the U.S. & Canada), Latin America (Brazil, Mexico, and Rest of Latin America), Western Europe (Germany, France, the U.K., Italy, Spain and Rest of Western Europe), Eastern Europe (Russia, Poland and Rest of Eastern Europe), Asia Pacific excluding China and Japan (India, Australia & New Zealand and Rest of Asia Pacific), China, Japan and Middle East and Africa (GCC Countries, South Africa and Rest of MEA). Each country and region in the report provides revenue generation by prescription analgesics and OTC analgesics within the forecast period.
A detailed analysis has been provided for each region in terms of market size, Y-o-Y growth rate, absolute $ opportunity, and market attractive index. The forecast of the analgesics market by country, drug class, pain type and distribution channel is represented in a tabular form for each region. This section will help to understand the present scenario and opportunity of the analgesics market in major countries by each segment.
In the next section of the report, the ‘Competitive Landscape’ is included to provide report audiences with a dashboard view of the key competitor firms in order to access the key differentiators among the competitor firms. This section is primarily designed to provide clients with an objective and detailed comparative assessment of product offerings and strategies of key providers specific to a market segment. The detailed profiles of players operating in the analgesics market are also provided in the report, which highlight company description, product/segment overview, SWOT analysis, financial information, key developments related to the analgesics market and the strategic overview.
The next section of the report highlights the market outlook for 2018–2028 and sets the forecast within the context of the analgesics market by region.
The above sections – by drug class, pain type and distribution channel – evaluate the historic market analysis and growth prospects of the analgesics market for the period 2018–2028. We have considered 2017 as the base year and provided data for the forecast period.
The final section of the report represents the global scenario of the analgesics market along with y-o-y growth and market forecast till 2028. This section also evaluates the global market opportunity over the forecast period as well as the absolute dollar opportunity for each year. This section will help to understand the overall market growth for analgesics and the opportunity analysis for every year over the forecast period.
To arrive at the market size, bottom-up approach is used to validate the total market size obtained for the analgesics market. The forecast presented in the report provides total revenue of the analgesics market over 2018–2028. FMI uses the triangulation methodology, which is primarily based on experimental techniques such as patient-level data to obtain precise market estimations for the analgesics market and insights on specific country/regions. The country-specific data is again analysed to derive data at a regional level and then at a global level. This methodology ensures high quality and accuracy of information.
The factors considered while developing the estimates of the analgesics market are epidemiology, treatment seeking rate, ratio of population prescribed with different analgesics.
On the other hand, FMI has also analysed the market by considering the revenue from the key players operating in the market. The key players are segmented at a Tier-level with respect to their revenues, product portfolio and geographical presence. This process involves analysis of annual reports of various companies, investor presentations, SEC filings, 10k reports, earning call transcripts and press releases. This task is done to fetch substantial information about the key players, their respective revenues and estimate their respective market share.
The revenue growth of the key market players is analysed over the historical period and qualitative assessment of new product launches and innovations has been made in order to validate and align the resultant market numbers. The market structure is closely studied and analysed at a regional level to map and ascertain incremental $ opportunity for companies, for instance, supply from domestic/regional players, small-scale enterprises or unorganized segments is also taken into consideration to arrive at the final market numbers.
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While forecasting the market size for the analgesics market, we have considered the impact of several factors such as per capital healthcare expenditure, disposable income, new analgesics and approvals for new advanced analgesics, penetration of analgesics through various distribution channels, and generic penetration across all regions, among others. However, quantifying the analgesics market across the aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed. In addition, we have taken into consideration the year-on-year growth to understand the predictability of the analgesics market and to identify the right growth opportunities in the global analgesics market
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