by Market Overview:
Anti-inflammatory drugs are prescription and over-the-counter medicines used to treat certain kinds of pain, fever, and inflammation. They work by blocking the production of specific enzymes and mediators in the body that cause inflammation. Common examples include aspirin, ibuprofen, and naproxen.
Market key trends:
One of the key trends in the anti-inflammatory drugs market is the increasing research and development of biologics and biosimilars drugs. Biologics are medications made from complex living cells and tissues instead of chemical compounds and they are more effective and safer than small-molecule drugs. Due to increasing efficiency and affordability, the adoption of biologics and biosimilars drugs is increasing in the management of various inflammatory conditions compared to conventional small molecule drugs. This is expected to drive significant growth in the anti-inflammatory drugs market over the forecast period.
The global Anti-Inflammatory Drugs Market Size 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.
SWOT Analysis
Strength: Anti-inflammatory drugs such as steroids, NSAIDs provide effective treatment for inflammation associated with various diseases. The strong presence of major players further boosts the availability of these drugs.
Weakness: Long term usage of anti-inflammatory drugs can cause side effects such as ulcers, bleeding, and kidney problems. NSAIDs also increase the risk of cardiovascular diseases with chronic usage.
Opportunity: Rising geriatric population prone to arthritis and other inflammatory conditions present major opportunities. Increasing healthcare expenditure in emerging nations also support market growth.
Threats: Alternative treatment options such as herbal remedies, physiotherapy pose competition. Potential drug resistance also threatens sustained demand. Stringent regulatory guidelines for approval further delay new product launches.
Key Takeaways
The global anti-inflammatory drugs market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing prevalence of cardiovascular diseases, arthritis, and other inflammatory conditions. North America is expected to dominate the global market owing to rising healthcare spending and early access to innovative drugs. Europe also captures significant market share due to growing elderly population suffering from arthritis.
Regional analysis: Asia Pacific is anticipated to depict the fastest growth over the coming years driven by growing medical tourism, extensive R&D investments by key players and rising healthcare expenditure in India and China. Latin America and Middle East & Africa also present untapped opportunities for anti-inflammatory drug manufacturers.
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’s Laboratories.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
