by Market Overview:
Anti-inflammatory drugs are commonly used to treat inflammation, pain, and fever. They work by blocking the production of prostaglandins – hormone-like substances in the body that promote inflammation, pain, and fever. Some key anti-inflammatory drugs include corticosteroids, NSAIDs (non-steroidal anti-inflammatory drugs) such as ibuprofen, COX-2 inhibitors such as celecoxib, and disease-modifying anti-rheumatic drugs (DMARDs). These are commonly used to treat inflammatory conditions like arthritis, fever, muscle and joint pain.
Market Dynamics:
Increasing prevalence of chronic inflammatory diseases such as arthritis is expected to drive the market growth over the forecast period. According to Arthritis Foundation, around 58.5 million US adults suffer from doctor-diagnosed arthritis. Chronic conditions like osteoarthritis and rheumatoid arthritis lead to severe joint pain and inflammation requiring lifelong medication. Additionally, rising geriatric population is also expected to boost the demand for anti-inflammatory drugs as age increases the risk of arthritis and other inflammatory conditions. As per Population Reference Bureau, the number of Americans aged 65 and older is projected to double from 52 million in 2018 to 95 million by 2060. This rising pool of elderly population base is expected to augment the sales of anti-inflammatory drugs over the coming years.
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.
Segment Analysis
The global anti-inflammatory drugs market is dominated by the corticosteroids segment owing to its wide applications in the treatment of inflammatory and autoimmune disorders. Corticosteroids are highly potent anti-inflammatory drugs which are very effective in reducing inflammation and the body’s immune response. They are used for treating various inflammatory conditions such as rheumatoid arthritis, asthma, ulcerative colitis, lupus, psoriasis, etc.
PEST Analysis
Political: The regulations imposed by governing bodies like the FDA regarding drug approval and marketing influence the growth of the industry. Economic: Increasing healthcare expenditure and rising prevalence of inflammatory diseases are fueling market growth. Social: Rising awareness about inflammatory conditions and availability of various treatment options are supporting the market growth. Technological: Advancements in drug delivery technologies and development of novel molecules are expected to drive the market.
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 chronic inflammatory diseases.
Regional analysis
North America is expected to dominate the anti-inflammatory drugs market owing to the rising geriatric population, high healthcare spending, and growing prevalence of inflammatory disorders in the region.
Key players
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€TMs Laboratories.
*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.
