Painkillers Market Regional Analysis:
North America Market Insights
North America industry is likely to account for largest revenue share of 45.9% by 2035, Rapid development in healthcare including pain management has driven significant growth in this region. Due to faster recovery and effectiveness, these supplements have become one of the most selling medical products in this landscape. Many healthcare organizations and specialty doctors have also helped to promote such efficient therapeutics to control or manage symptoms. This has encouraged companies to extend their product portfolio, generating larger revenue. For instance, in March 2023, Pfizer received approval for ZAVZPRET for instant pain relief from migraine in just 15 minutes. The CGRP nasal spray opens a new healthcare category to serve.
The U.S. is one of the fastest-growing countries in the painkillers market due to increasing incidences of chronic pain. According to a CDC report published in April 2023, 20.9% of the adults in this country suffered from mild to moderate chronic pain in 2021. The report further states that the number of severe chronic pain cases accounted to be 17.1 million in the same year. Such frequent prevalence requires a continuous supply of reliable pain management supplements, garnering greater growth potential in this industry.
Canada is projected to foster lucrative opportunities for global leaders during the forecast period. The ongoing opioid crisis is pushing manufacturers to introduce new formulations to attain non-adverse properties in drugs or other therapeutics. This has further influenced companies to invest in R&D, creating a great developmental scope for businesses to outstretch their reach. For instance, in February 2024, Health Canada approved Maxigesic IV by Hyloris for marketing in Canada. This non-opioid pain-relieving drug will pave the way to restore opioid impact on the country’s healthcare and economy.
Europe Market Insights
Europe is growing to present diversity and development in the painkillers market in upcoming years due to the rising awareness about pain management in this region. The rising demand for analgesic drugs is majorly driven by the increasing incidences of chronic diseases. The region is highly influenced by technological advancement, which pushes drug innovation to introduce new alternatives in the industry. The government has taken strict actions to prevent opioid abuse, leveraging the demand for OTC products due to market availability. As a result, drugs such as NSAIDs, paracetamol, and alternatives are gaining traction due to the rising need for medication.
The U.K. is presenting a promising scope of development in the painkillers market due to innovative products introduced by global leaders. The companies are accelerating their R&D in developing novel solutions for effective pain management. They are also focusing on reducing the risk of addiction through these new formulations. For instance, in August 2024, Levicept announced the success of a phase-II trial for Neurotrophin-3 Inhibitor, LEVI-04. The thorough study shows positive results of this drug usage for moderate to severe pain relief in osteoarthritis patients.
Spain is projected to generate remarkable revenue from its painkillers market by the end of 2035. The country is leveraging the scale of production and development in this sector to participate in international competition. For instance, in October 2021, Esteve received approval from the FDA for a co-crystal form of celecoxib and tramadol to be used for acute pain relief. Such R&D products will help domestic companies to consolidate their presence in the U.S. industry. Further, it creates an opportunity to strengthen the country’s international business.
