July 24, 2024
Anti-Inflammatory Drugs Market

Anti-Inflammatory Drugs Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Chronic Diseases & Rising Geriatric Population

The Anti-Inflammatory Drugs Market is estimated to be valued at US$ 79,830.2 million in 2020 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The Anti-Inflammatory Drugs Market is driven by the increasing prevalence of chronic diseases such as arthritis, asthma, and inflammatory bowel disease. These conditions require long-term medication for symptom management, thus driving the demand for anti-inflammatory drugs. Furthermore, the rising geriatric population, who are more susceptible to inflammatory diseases, is also contributing to market growth. The market offers a wide range of products, including nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and biologic drugs, which are used for various indications. These drugs help in reducing inflammation, pain, and swelling associated with inflammatory conditions.

Market Dynamics:

The anti-inflammatory drugs market is driven by two major factors. Firstly, the increasing prevalence of chronic diseases, such as arthritis and inflammatory bowel disease, is expected to drive the market growth. These diseases require continuous medication for symptom management, thus creating a high demand for anti-inflammatory drugs. Secondly, the rising geriatric population, who are more prone to inflammatory diseases, is also contributing to market growth. As the aging population continues to increase globally, the demand for anti-inflammatory drugs is expected to rise. Moreover, the market offers a wide range of products, including NSAIDs, corticosteroids, and biologic drugs, which cater to different indications and provide effective relief from inflammatory conditions. These factors collectively contribute to the growth of the anti-inflammatory drugs market.

Segment Analysis:

The Anti-Inflammatory Drugs market can be segmented based on drug class, indication, distribution channel, and geography. In terms of drug class, nonsteroidal anti-inflammatory drugs (NSAIDs) dominate the market due to their wide usage and availability. NSAIDs are the most commonly prescribed medications for pain and inflammation management. Other segments include corticosteroids, biologics, and disease-modifying anti-rheumatic drugs (DMARDs).

Within the indication segment, arthritis holds the largest market share. This is due to the high prevalence of arthritis globally and the increasing aging population. Arthritis is a chronic inflammatory disease that affects millions of individuals, making it a dominant sub-segment within the Anti-Inflammatory Drugs market.

Based on the distribution channel, the hospital pharmacies segment is the largest, accounting for a significant market share. This can be attributed to the fact that hospitals are the primary point of care for patients with inflammatory diseases and injuries.

PEST Analysis:

Political:

The political landscape plays a crucial role in shaping the Anti-Inflammatory Drugs market. Stringent regulatory policies regarding drug approvals and pricing policies implemented by governments can have a significant impact on market growth.

Economic:

Economic factors such as income levels, healthcare expenditure, and insurance coverage influence the demand for anti-inflammatory drugs. Increase in disposable income and healthcare investments in emerging economies contribute to market growth.

Social:

Changing lifestyles, sedentary habits, and the increasing geriatric population are driving the demand for anti-inflammatory drugs. The growing awareness about chronic inflammatory diseases and the availability of advanced treatment options also contribute to market growth.

Technological:

Technological advancements in drug development, such as the introduction of targeted therapies and biologics, have revolutionized the treatment of inflammatory diseases. Continued research and development in this field are expected to further drive market growth.

Key Takeaways:

The global Anti-Inflammatory Drugs market is expected to witness high growth, exhibiting a CAGR of 8.6% over the forecast period, due to increasing prevalence of chronic inflammatory diseases and the rising geriatric population. The market size for 2020 was estimated to be US$ 79,830.2 million.

In terms of regional analysis, North America is the fastest-growing and dominating region in the Anti-Inflammatory Drugs market. This can be attributed to the high prevalence of inflammatory diseases, well-established healthcare infrastructure, and the presence of key market players in the region.

Key players operating in the Anti-Inflammatory Drugs market include 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’s Laboratories.