by Anti-inflammatory drugs are medications that help reduce symptoms of inflammation such as pain, swelling, and redness. Some common anti-inflammatory drugs include NSAIDs such as ibuprofen, naproxen, and aspirin. These are used to relieve minor aches and pains and reduce fevers. For more severe inflammation, corticosteroids or biologics may be prescribed. These drugs prevent the production of hormones and chemical messengers that trigger inflammation. The advantage of anti-inflammatory drugs is that they can help manage conditions like arthritis, tendinitis, bursitis, and injuries. With rising prevalence of inflammatory diseases like rheumatoid arthritis and increasing geriatric population aged 60 years and above being more prone to such diseases, the demand for anti-inflammatory drugs is growing.
The global Anti-inflammatory Drugs Market is estimated to be valued at US$ 118.21 Bn 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 key trends
The anti-inflammatory drugs market is being driven by the entry of cheaper generic versions of branded drugs as their patents expire. This is expected to make treatment more affordable. Additionally, research and development of new biologics and pipeline drugs is supporting market growth. For instance, AbbVie’s Rinvoq is a Janus kinase inhibitor approved for rheumatoid arthritis. Other drugs in development include Xeljanz, mim8, namilumab, and fenebrutinib. Moreover, the COVID-19 pandemic has increased focus on vaccines and treatments for inflammatory conditions as these patients are at higher risk of severe COVID infection. The research around link between inflammation and COVID outcomes can potentially boost anti-inflammatory therapeutics market.
Porter’s Analysis
Threat of new entrants: There is moderate threat of new entrants in the anti-inflammatory drugs market as considerable capital investment is required to enter the market. There are also well-established players and patents protecting major drugs that act as a barrier.
Bargaining power of buyers: The bargaining power of buyers is moderate as the market has several branded and generic drug manufacturers. Buyers can negotiate on price and switch between therapies.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute raw materials and lack of differentiation in materials. Suppliers are also fewer in number.
Threat of new substitutes: The threat of new substitutes is moderate as several drugs from alternate classes are used for similar conditions. However, switching between therapies requires medical consultation.
Competitive rivalry: The competitive rivalry is high among major players to increase their market share through intensive marketing activities and new product launches.
Key Takeaways
The global Anti-Inflammatory Drugs Market Size is expected to witness high growth during the forecast period of 2024 to 2031. The global Anti-inflammatory Drugs Market is estimated to be valued at US$ 118.21 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.
Regional analysis: North America dominated the market in 2024 due to high healthcare expenditure and growing demand for pain management therapies. Asia Pacific is expected to grow at the fastest pace owing to rising prevalence of arthritis and growing healthcare spending in major economies like China and India.
Key players: Key players operating in the anti-inflammatory drugs market are 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. They are focusing on developing novel formulations and expanding geographically to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
