Anti-Inflammatory Drugs Market Estimated To Witness High Growth...

Anti-Inflammatory Drugs Market Estimated To Witness High Growth Owing To Rising Cases Of Chronic Diseases

Posted 2024-02-01 12:53:52

Anti-inflammatory drugs are pharmaceutical drugs used to relieve pain, fever, and inflammation from various chronic diseases. Some common anti-inflammatory drugs are ibuprofen, naproxen, diclofenac, and celecoxib. The global anti-inflammatory drugs market has witnessed rising demand for non-steroidal anti-inflammatory drugs (NSAIDs) that provide relief from various types of joint pain caused by arthritis without adverse effects.

The global anti-inflammatory drugs market is estimated to be valued at US$118.21 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Rising cases of chronic diseases like arthritis, gout, and other inflammatory disorders have increased the demand for anti-inflammatory drugs globally. According to a report by Arthritis Foundation, around 54 million American adults have been diagnosed with some form of arthritis. Furthermore, osteoarthritis is the most common chronic joint disease affecting over 32.5 million individuals in the US alone. This has augmented the need for anti-inflammatory drugs that provide relief from joint pain and stiffness without severe side effects. Moreover, government support through various initiatives has promoted public awareness regarding treatment and management of chronic diseases benefitting the anti-inflammatory drugs market. For instance, the Arthritis Foundation launched exercise programs across the country to prevent and manage arthritis. However, adverse effects of NSAIDs and reluctance towards their long-term use limits the market growth.

SWOT Analysis

Strength: Anti-Inflammatory drugs have wide applications across various therapeutic areas such as arthritis, respiratory diseases and others. These drugs help relieve pain and inflammation effectively. Additionally, presence of large patient pool suffering from diseases such as arthritis increase the demand for these drugs. Furthermore, continuous innovations by major pharmaceutical companies help strengthen their product portfolio.

Weakness: Long term usage of anti-inflammatory drugs may cause certain side effects such as stomach ulcers, kidney and liver problems. Additionally, regulatory hurdles for approval of new drug molecules increases complexity and development costs. Certain drugs also require constant monitoring due to safety concerns.

Opportunity: Emergence of biosimilars provide opportunities to reduce treatment costs and increase accessibility in developing regions. Furthermore, rising geriatric population susceptible to joint disorders boost the market potential. Growing awareness regarding benefits of early diagnosis and treatment among patients also opens new avenues.

Threats: Presence of alternative treatment options such as stem cell therapy, physiotherapy pose competitive threats. Additionally, patent expiries of blockbuster drugs significantly impact revenues of companies. Stringent regulations for approval of new drug moleculesis a major challenge.

Key Takeaways

The global Anti-Inflammatory Drugs Market Size is expected to witness high growth. With rising geriatric population suffering from joint disorders, the demand for pain management drugs is surging at an exponential rate. The global anti-inflammatory drugs market is estimated to be valued at US$118.21 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Regionally, North America dominates the market owing to developed healthcare infrastructure andincreasing healthcare spending. However, Asia Pacific is emerging as the fastest growing region on back of large patient population, rising medical tourism and generic drug manufacturing.

Key players operating in the anti-inflammatory drugs market are Johnson & Johnson, Pfizer, GlaxoSmithKline, Novartis, Merck & Co, Sanofi, Eli Lilly and AbbVie. These companies collectively account for over 50% of the global market share. Meanwhile, biosimilar manufacturers such as Amgen, Samsung Biologics and Celltrion are poised to disrupt the market with their cost effective products.

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