by Anti-inflammatory drugs are commonly used medications that help reduce pain, swelling, and other symptoms of inflammation in conditions such as arthritis, back pain, gout, and other inflammatory diseases. Some of the commonly used anti-inflammatory drugs include ibuprofen, naproxen, diclofenac, and celecoxib. As global life expectancy increases, the risk of developing age-related health conditions rises. Inflammatory diseases like arthritis are more common in older adults and the risk increases with age.
The global anti-inflammatory drugs market is estimated to be valued at US$ 58 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023.
Market Dynamics:
It is estimated that over 300 million people suffer from rheumatoid arthritis or osteoarthritis worldwide. With geriatric population growing at an accelerated rate, the risk of inflammatory diseases has risen tremendously. According to data by the United Nations, people aged 65 years or above are the fastest growing segment of the world’s population and is projected to reach nearly 1.5 billion by 2050, thereby driving demand for anti-inflammatory drugs. Additionally, continual approval of novel drugs for treatment of inflammatory conditions by regulatory bodies is expected to positively influence market growth over the forecast period. However, side effects associated with usage of anti-inflammatory drugs can negatively impact the market.
SWOT Analysis
Strength: Anti-inflammatory drugs provide effective pain relief for various conditions such as arthritis. Non-steroidal anti-inflammatory drugs (NSAIDs) like ibuprofen are easily available over-the-counter and provide fast acting relief. Research is ongoing to develop new targeted agents with improved safety profiles.
Weakness: Long term use of NSAIDs can cause gastrointestinal issues like ulcers and bleeding in some patients. Cyclooxygenase-2 (COX-2) inhibitors while more gastrointestinal friendly, are associated with increased cardiovascular risks. Steroidal anti-inflammatory drugs (SAIDs) can have systemic side effects.
Opportunity: Developing regions with growing elderly populations experiencing more joint and musculoskeletal issues provide new markets. Personalized medicines approach tailoring treatment to individual patient characteristics may improve outcomes and compliance.
Threats: Increased regulations and pricing pressures may harm revenues. Alternatives like physiotherapy and nutraceuticals gaining acceptance reduces dependency on drugs alone. Patent expiration of blockbusters brings heightened competition from lower cost generics.
Key Takeaways
The global anti-inflammatory drugs market is expected to witness high growth on account of rising musculoskeletal disorders, rapid aging and increasing healthcare expenditure in developing nations.
Regional analysis: Asia Pacific region is projected to witness the highest CAGR during the forecast period backed by rising disposable incomes, increasing healthcare investments and growing medical tourism. China and India have large populations and growing burden of arthritis providing a vast market. Developed markets of Japan and South Korea also contribute significantly.
Key players: Key players operating in the anti-inflammatory drugs market are Pfizer, GSK, Novartis, Johnson & Johnson, Sanofi, Merck, Eli Lilly, Abbvie, and Boehringer Ingelheim. Patent expiry of blockbuster drugs bring cheaper generics from companies like Teva, Mylan, and Amneal posing pricing pressures. Biosimilars expected to disrupt the market in coming years.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
