April 21, 2024
Anti-Inflammatory Drugs Market

Anti-Inflammatory Drugs Market To Register Robust Growth Owing To Rising Incidences Of Arthritis

The anti-inflammatory drugs market holds great promise as these medicines help alleviate pain and inflammation associated with various conditions. Nonsteroidal anti-inflammatory drugs (NSAIDs) are commonly used to treat pain, fever, and inflammation from conditions like arthritis. NSAIDs work by blocking cyclooxygenase (COX) enzymes. Major products in this market include ibuprofen, diclofenac, naproxen, celecoxib, and meloxicam. The analgesic and antipyretic properties of anti-inflammatory drugs make them a preferred medical option for reducing musculoskeletal pain and discomfort.

The global anti-inflammatory drugs market is estimated to be valued at US$ 118.21 Bn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Anti-Inflammatory Drugs Market Growth include 48 London, Alpine Escape, Arburton Ltd, Aspen Luxury Concierge Service LLC, AZ Luxe, Bon Vivant, Globe Infinite, Ibiza Luxury Concierge Service, Innerplace Co., and John Paul. These companies are engaged in new product launches and marketing initiatives to strengthen their market position.

The rising geriatric population is one of the key opportunities in the anti-inflammatory drugs market as age-related conditions like arthritis are more common among the elderly. Moreover, fast track approvals for novel anti-inflammatory therapies will also boost market revenues.

Globally, the anti-inflammatory drugs market is expected to witness highest growth in Asia Pacific owing to increasing healthcare expenditure and large patient pool in China and India. North America will continue to dominate the market over the forecast period due to robust R&D activities and new product approvals.

Market Drivers

The increasing prevalence of arthritis is a major factor driving sales of Anti-Inflammatory Drugs Market globally. Arthritis afflicts over 350 million people worldwide and is a leading cause of disability. Since NSAIDs provide relief from joint pain and swelling, demand for these medicines continue to rise with growing arthritis cases. Additionally, market growth can be attributed to rising healthcare spending that enhances access and affordability of anti-inflammatory medications for patients.

PEST Analysis

Political: The pharmaceutical industry deals with stringent approval regulations imposed by various government bodies across countries. Any changes in regulations related to drug testing, marketing, and post-launch monitoring can affect the market. Economic: Factors such as rising healthcare expenditure, growing per capita income, aging population, and rise in chronic diseases such as arthritis are driving the demand for anti-inflammatory drugs globally. Social: Increasing awareness about diseases, management of pain and inflammation, and availability of generic drugs are the key social drivers for this market. Technological: Advancements in drug delivery, development of targeted drug delivery systems, and focus on innovative research are helping in introducing newer and more effective drugs in the market.

North America is currently the largest market for anti-inflammatory drugs globally in terms of value. This can be attributed to the high healthcare expenditure, presence of major pharmaceutical companies, favorable regulatory environment and widespread availability of generic drugs in the region. Asia Pacific is projected to be the fastest growing market during the forecast period owing to rising geriatric population, growing instances of lifestyle diseases, improving access to healthcare facilities and increasing investments in healthcare sector by regional governments.

China and India have emerged as major manufacturing hubs for generic drugs over the past decade. Pharmaceutical companies are setting up manufacturing facilities in these countries to cater to the growing local demands as well as for exports across different markets. This is positively impacting the overall sales volumes in Asia Pacific region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it