Analgesics Market Report

Many people believe that a certain dose of opioids is ineffective in situations of extreme pain. These people require higher dosages of medicines to relieve pain, which eventually leads to opioid tolerance and, in some cases, addiction. As a result, commercialising opioid-tolerant medications is projected to be one of the primary prospects for opioid pharmaceutical market participants. This will also assist in reducing the adverse effects associated with or induced by increasing opioid medication intake. Opioids are widely used for pain management in North America and Western Europe, but due to increased use of opioids for non-medical purposes, the respective countries' governing bodies are encouraging doctors to fill prescriptions for non-opioid analgesics, providing an opportunity for companies to introduce novel non-opioid drugs. For example, in February 2022, the United States Food and Drug Administration started efforts to find non-addictive opioid alternatives to manage pain and decrease exposure to opioids in order to tackle new addiction. Similarly, in April 2022, ACSQHC developed a new standard of care for the prudent administration of opioid analgesics in emergency rooms after surgical operations. Non-opioid analgesics are being introduced in regions such as Africa and Asia, where opioids and non-opioid medications with innovative drug delivery methods are not readily available for pain management, providing opportunities for the analgesics industry to flourish.

The increasing popularity of biologics for treating neuropathic and inflammatory pain is restraining the expansion of the analgesics market. Biologics are more efficient than analgesics, which only give effective pain relief in half of the patients, and are thus utilised more frequently nowadays. The high cost of medication research and delivery will stymie analgesic industry expansion. Furthermore, a lack of healthcare facilities and competent experts will be obstacles. Furthermore, government limitations and a lack of awareness will stymie market expansion. For instance, in March 2023, the US Food and Drug Administration (FDA) has authorised ZAVZPRETTM, the first and only calcitonin gene-related peptide, or CG receptor antagonist nasal spray for the immediate treatment of migraine with or without aura in adults. ZAVZPRET was significantly better to placebo on the co-primary objectives of pain freedom and freedom from most annoying symptom at two hours post-dose in its pivotal Phase 3 trial.

In 2022, the non-opioid segment dominated the analgesics market. This is attributed to increased demand for non-opioid analgesics due to lowered risk of side effects, widespread availability of generic preparations, and novel initiatives undertaken by business organisations and governments to promote the use of non-opioid preparations in pain treatment. The favourable results of non-opioid medications in clinical trials have contributed to expansion. For instance, Vertex Pharmaceuticals published a positive phase II trial results for their non-opioid candidate VX-548 in March 2022. Additionally, in May 2022, Biohaven Pharmaceutical Holding Company Ltd. was acquired by Pfizer Inc. The acquisition was made in order to manufacture NURTEC ODT for acute therapy and episodic prevention of migraine in adults.

North America accounted for the highest revenue share of the analgesics market. An increase in the prevalence of chronic diseases among the Canadian population, as well as comorbidities associated with the diseases, are expected to boost the growth of the analgesics market over the forecast period. According to Statistics Canada, 23% of Canadian people aged 20 to 79 have been diagnosed with hypertension by a health-care professional, are using anti-hypertensive medication, or have high measured blood pressure corresponding to stage 2 hypertension. According to the Arthritis Society of Canada, roughly 6 million people have arthritis, with a projected increase to 9 million by 2040. Furthermore, the rising number of surgeries and numerous government attempts to protect the use of analgesics are likely to boost regional growth throughout the forecast period. For instance, in 2022, the CDC issued new opioid prescribing guidelines to encourage the prudent use of opioids, reflecting the increasing need for innovative analgesics in pain treatment. As a result of rising chronic diseases and analgesic medication usage, the North American market is projected to grow in the future.