The global analgesics market size was valued at USD 24.53 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.3% from 2021 to 2028. The market growth can be credited to the rising demand for nutritional supplements among consumers in the U.S. and China. The increasing availability of gels and ointments will enhance the sales of analgesics. Moreover, the rising popularity of anti-platelet tablets in Asia Pacific is anticipated to boost the market growth over the forecast period. Product innovations by the key players will contribute to the market growth. Moreover, the growing customer preference for over-the-counter analgesics is a prominent trend expected to boost the market growth. Technological advancement in the pharmaceutical industry will spur the market growth. However, the time-consuming drug approval process is expected to restrict the market growth. At present, key players are focusing to provide pain relievers, particularly with long-lasting action. Hence, the market is expected to witness significant growth during the forecast period.
The growing investment by the Germany-based Bayer AG to procure aspirin tablets at a lower cost is refueling the market growth. Rapidly growing demand for low-dose aspirin in the U.K. to reduce ischemic stroke is anticipated to boost the market growth. The growing demand for anti-inflammatory products among European consumers is driving the industry.
The pandemic has strongly affected the global economy. The coronavirus pandemic reflected the weakness of the value chain system. The supply chain of the market for analgesics strongly reflected positive growth during the pandemic era. Local drug stores, hospital pharmacies, and retail pharmacies are improving the sales statistics during the pandemic era owing to the rising demand for paracetamol to recover from the fever symptoms after the vaccination activity.
The growing demand for over-the-counter gels and ointments among consumers in the Middle East and Africa had propelled the market growth. Several pharmaceutical companies had projected positive quarterly earnings due to the rapid sales of analgesics. The key players of the market are approaching the e-commerce portals to improve the supply chain of the market. The growing sales of analgesics via online pharmacies will reflect the positive growth during the forecast period.
The over-the-counter analgesics segment held the largest share of over 45.0% in 2020. The growing adoption of paracetamol in India to provide antipyretic actions to relieve the fever and pain is projected to boost the market growth. The rising demand for liquid-filled aspirin capsules among consumers in the U.S. and the U.K. to recover from rheumatologic diseases will further enhance the segment growth during the forecast period.
The in the form of pills, capsules, gels, and ointments segment will register the highest growth rate over the forecast period. This can be credited to the growing demand for pain-relieving ointments, such as T Bact and Neosporin, among consumers in Asia Pacific. Pills and capsules are majorly used to recover from chronic pain. The increasing demand for natural and synthetic agents is expected to fuel the growth during the forecast period. The rising popularity of hemorrhoid cream to soothe the pain, itching, and inflammation across the globe is anticipated to refuel the market growth.
The offline segment captured the largest share of more than 70.0% in 2020. This can be attributed to the growing demand for analgesic pills and tablets from emerging countries, such as China and India. The offline segment consists of local drug stores, hospital pharmacies, and retail pharmacies. The ease of hard cash transaction services and trustworthy relationships with domestic consumers are the major factors expected to propel the market growth during the forecast period.
Local pharmacies supply various products including analgesic pills, capsules, gels, and ointments. The immediate pain relief and the nonprescription purchasing ability are the major factors likely to attract local customers through the offline trading platform. Supportive measures taken by the analgesics manufacturers to provide affordable pain-relief products to the local consumers will help to propel the market growth.
The online segment is projected to register the fastest growth rate during the forecast timeline. This growth is attributed to the increased focus of analgesics retailers and suppliers to adopt the online pharmacy. The e-commerce portals are more flexible to provide drugs and medicine in a large quantity. Lower cost with lucrative offers will build the long-term customer relationship through the electronic commerce methodology. Ease of access to reach potential customers and the door-step delivery of non-expiry analgesics will contribute to the market growth.
North America grabbed the largest share of over 35.0% in 2020. This can be attributed to the rapid growth of the geriatric population in developed countries, such as the U.S. and Canada. The geriatric population is majorly facing incurable health issues. The ease of accessibility of OTC products at retail pharmacies will contribute to the market growth. The growing trend in the U.S. to adopt ibuprofen and acetaminophen for pain relief is anticipated to boost the market growth. The market in Canada is driven by the growing demand for as per creme arthritis pain relief gel to relieve arthritis pain. Moreover, the rising demand for odor-free and non-greasy gels and ointments in the U.S. is anticipated to boost the market growth.
Asia Pacific is projected to register the highest CAGR of 6.0% from 2021 to 2028. This can be attributed to the growing demand for paracetamol from emerging economies, such as China and India. The emerging trend in Japan to adopt the non-prescription pain-reliever cream for muscle strain is propelling the market growth. The growing adoption of premium anti-inflammatory drugs in India to reduce redness and swelling is estimated to fuel the market growth over the forecast period.
The main focus of the companies is to provide over-the-counter analgesics at a lower cost. The key players are focusing to procure painkillers, which are effectively used to recover acute pain. Fast-acting activity with a non-drowsy effect is propelling the market growth. Multiple companies are targeting to launch arthritis pain relief gel. The major players are procuring painkillers for headaches, muscle pain, backaches, and toothaches. Some prominent players in the global analgesics market include:
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Report Attribute |
Details |
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Market size value in 2021 |
USD 25.31 billion |
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Revenue forecast in 2028 |
USD 34.05 billion |
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Growth Rate |
CAGR of 4.3% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, distribution channel, region |
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Regional scope |
North America; Europe; Asia Pacific; Central & Central & South America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K; Germany; France; China; India; Japan; Brazil; Argentina; Saudi Arabia; South Africa |
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Key companies profiled |
Bayer AG; Novartis AG; Pfizer Inc.; GlaxoSmithKline PLC; Johnson & Johnson; Reckitt Benckiser (RB); Endo Pharmaceuticals; Bristol-Myers Squibb; Eli Lilly and Company; Sanofi |
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Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global analgesics market report on the basis of type, distribution channel, and region:
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