The global pain reliever market is anticipated to grow at a significant CAGR of 3.6% during the forecast period (2022-2028). Pain relievers are medicines that reduce or relieve headaches, sore muscles, arthritis, or other aches and pains. The global pain reliever market is growing due to the rising prevalence of chronic pain among the individuals. According to an article published by the US National Library of Medicine, the prevalence of chronic pain was found to be 19.3% in the US in 2018. This was highly prevalence in females that accounts 25.2%. Pain prevalence increased steeply beyond the age of 65 years. Thus, the increasing geriatric population globally is also boosting the growth of the global pain reliever market in the forecast period.
The market player is also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and launches, to stay competitive in the market.
- In October 2021, the USFDAapproved a combination pill containing celecoxib and tramadol for the treatment of adults with acute pain severe enough to require an opioid analgesic and for which alternative treatments fail to provide adequate pain relief.
- In August 2020, the USFDAapproved Olinvyk, an opioid agonist for the management of moderate to severe acute pain in adults, where the pain is severe enough to require an intravenous opioid and for whom alternative treatments are inadequate.
- In July 2020, the USFDAapproved the combination orphenadrine citrate, aspirin, and caffeine for the treatment of patients suffering from mild to moderate pain caused by acute musculoskeletal disorders, combined with rest, physical therapy, and other measures.
- In March 2020, the USFDAapproved the first over-the-counter pain reliever with the composition of ibuprofen and acetaminophen in the same formulation which will be manufactured by GlaxoSmithKline Plc.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Formulation
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- GlaxoSmithKline Plc, Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd., Sanofi, and Reckitt Benckiser Group PLC,among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Pain reliever Market Report by Segment
By Type
- Prescription Pain Relief
- Over-the-Counter Pain Relief
By Formulation
- Cream
- Gel
- Spray
- Patch
- Others
A full report is available at: https://orionmarketreports.com/global-pain-reliever-market/103907/
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
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