Anti-inflammatory drugs offer relief from various inflammatory conditions like arthritis, fever, body ache, pain etc. by inhibiting the production of prostaglandins and leukotrienes which are mediators of inflammation and pain. With rising incidence of chronic conditions and pain globally, the demand for different anti-inflammatory drugs like steroids, NSAIDs etc. has steadily increased over the years.
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 rising demand for pain relief is one of the key trends boosting the growth of the anti-inflammatory drugs market. Chronic inflammation and pain conditions like arthritis, joint pain etc. have significantly increased worldwide. Also, with growing elderly population who are more prone to such conditions, the demand for anti-inflammatory drugs has accelerated exponentially. Various companies are investing heavily in research and development of new and more effective drugs to capitalize on the high demand. This is expected to drive the demand during the forecast period.
Segment Analysis
The global anti-inflammatory drugs market is dominated by corticosteroids segment. Corticosteroids are highly effective in reducing inflammation and works rapidly. They are used in the treatment of many inflammatory conditions such as rheumatoid arthritis, asthma, ulcerative colitis etc. Corticosteroids work by reducing the production of substances that cause inflammation, which in turn reduces pain, swelling and irritation. Owing to its high efficacy profile, corticosteroids account for over 35% share of the overall anti-inflammatory drugs market.
Key Takeaways
The global Anti-Inflammatory Drugs Market Size is expected to witness high growth over the forecast period of 2024 to 2031. Favorable government policies regarding the usage of generic drugs coupled with increasing prevalence of inflammatory disorders are fueling the market growth. 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 region dominates the global anti-inflammatory drugs market accounting for over 40% share, attributed to the rising healthcare expenditure and increasing adoption of new drug formulations. The market is expected to grow at a significant rate in Asia Pacific region owing to growing aging population, increasing healthcare awareness and rising income levels in emerging countries such as India and China.
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. These companies are focusing on new product launches and acquisitions to strengthen their market position. For instance, Innerplace Co expanded its services in new geographies like Europe and South East Asia in 2022.
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