Anti-inflammatory drugs play a vital role in easing pain and reducing inflammation, swelling, redness and tenderness associated with many medical conditions. These drugs are commonly prescribed to treat arthritis, rheumatoid arthritis, gout, musculoskeletal injuries and other chronic inflammatory health issues. With rising life expectancy and growing elderly population worldwide, the risk of developing age-related health problems that cause inflammation have increased significantly. According to estimates by the United Nations, the global population aged 60 years and above is expected to reach 2.1 billion by 2050 from 1 billion currently, fueling the demand for anti-inflammatory treatments.
The global Anti-Inflammatory Drugs Market is estimated to be valued at US$36.57 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023.
Market key trends:
One of the major trends in the anti-inflammatory drugs market is the shift from traditional small molecule anti-inflammatory drugs to targeted biologics. As the understanding of disease pathology improves, researchers are developing more selective drugs that target specific molecules to reduce side effects. For instance, anti-TNF biologics have revolutionized the treatment of rheumatoid arthritis and are safer alternatives to NSAIDs for long term use. Companies are investing heavily in research of novel proteomic and genomic targets to discover and develop next generation biologic drugs with improved efficacy and safety profiles. This focus on precision medicine to manage inflammation is expected to significantly boost the biologics segment of the anti-inflammatory market in the coming years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the presence of major well-established players and high R&D and regulatory compliance costs required to introduce new anti-inflammatory drugs.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of generic alternatives and presence of negotiating power of large buyers like hospitals and retail pharmacies.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw material suppliers often lack differentiation and switching costs are low for pharmaceutical manufacturers.
Threat of new substitutes: The threat of new substitutes is high with the growing research on newer classes of biologics and herbal alternatives for pain and inflammation treatment.
Competitive rivalry: The competitive rivalry is high among key players like Pfizer, GSK, and Merck.
Key Takeaways
The Global Anti-Inflammatory Drugs Market Size is expected to witness high growth.
Regional analysis: North America dominates the anti-inflammatory drugs market currently owing to strong presence of global leaders and high healthcare spending. However, Asia Pacific is projected to register highest growth during the forecast period owing to large patient population, increase in disposable incomes, and growing medical tourism.
Key players operating in the anti-inflammatory drugs market are Pfizer, GSK, Merck, Johnson & Johnson, and Abbott Healthcare. Pfizer holds the leading position globally with their popular NSAID brands like Celebrex and Lyrica used for inflammation and pain management.
For More details on the topic:
https://www.marketwebjournal.com/anti-inflammatory-drugs-market-trends-size-and-share-analysis/
