Harrisburg, NC -- (SBWIRE) -- 10/20/2020 -- The Analgesics Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The global analgesics market was valued at about $30.26 billion in 2018 and is expected to grow to $35.95 billion at a CAGR of 4.4% through 2022.
The analgesics or analgesic drugs market consists of sales of analgesic drugs and related services. Analgesic drugs include opioids, non-steroidal anti-inflammatory drugs (NSAIDs), local anesthetics and Acetaminophen. These drugs can be administrated orally, intravenous, rectal, transdermal or topical. Analgesics drugs are generally distributed by channels including hospital pharmacies, retail pharmacies, drug stores or clinics. Analgesics also known as pain killers are used to treat mild or severe pain, including musculoskeletal pain, surgical, trauma pain, cancer pain or other type of pains. Examples of analgesics includes codeine, hydrocodone, oxycodone and methadone.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Analgesics Market: Bayer Healthcare, Pfizer, Sanofi, Johnson & Johnson and Novartis AG.
Industry News and Updates:
U.S. FDA Accepts Regulatory Submission for Tanezumab, a Potential First-in-Class Treatment for Patients with Chronic Pain Due to Moderate-to-Severe Osteoarthritis
Monday, March 02, 2020: Pfizer Inc. (NYSE:PFE) and Eli Lilly and Company (NYSE:LLY) today announced that the U.S. Food and Drug Administration (FDA) accepted for review a Biologics License Application (BLA) for tanezumab 2.5 mg administered subcutaneously (SC), which is being evaluated for patients with chronic pain due to moderate-to-severe osteoarthritis (OA) who have experienced inadequate pain relief with other analgesics. Tanezumab is a monoclonal antibody that is part of an investigational class of non-opioid chronic pain medications known as nerve growth factor (NGF) inhibitors.
More than 27 million Americans are living with OA, 11 million of whom have moderate-to-severe OA. Currently available treatment options for moderate-to-severe OA do not meet the needs of all patients, and many cycle through multiple therapies to find relief from their pain. The Prescription Drug User Fee Act (PDUFA) goal date for the FDA to make a decision on the tanezumab application is in December 2020. In its acceptance letter, the FDA stated that it is currently planning to hold an Advisory Committee meeting to discuss this application.
"The FDA acceptance of the tanezumab application represents a significant milestone, and the breadth of our regulatory submission reflects the extensive clinical data we have gathered for tanezumab over the course of its development," said Ken Verburg, tanezumab development team leader, Pfizer Global Product Development. "There is an urgent need for innovation in the treatment of osteoarthritis, as there have been no new classes of medicines available for this debilitating condition in more than a decade. If approved, tanezumab would be a first-in-class treatment for patients suffering from chronic pain due to moderate-to-severe osteoarthritis who have experienced inadequate pain relief with other analgesics."
Sanofi India launches quirky new campaign for Combiflam® ICYHOT™
Jan 22, 2019: Sanofi India - makers of the Combiflam® range, launched the new ad campaign for their topical analgesic - Combiflam® ICYHOT™ to provide effective relief to people suffering from strong pains.
The film conceptualized by Ogilvy, is a clutter breaking ad with humorous undertones that is bringing smiles on the face of viewers. The ad film was developed on the insight that pain can weigh one down and can derail one's day to day life. Effective respite from pain can help people get back on track and move forward. The message is delivered in a unique way through personification of 'strong pain' and the 'icy' and 'hot' sensation in the ad film.
The ad opens with the shot of a middle-aged man dancing to the tunes of peppy, 80's music. Oblivious to his knowledge, 'strong pain' suddenly attacks him from behind and hurts his neck. At that very moment, 'icy' and 'hot' come to his rescue and pin down 'strong pain'. The product window then shows the dual benefits of the icy and hot action that provide long-lasting relief from strong pain before ending with the pack shot of Combiflam® ICYHOT™ and the message 'Strong pain ko do strong jawab'. When it comes to pain, consumers look for holistic solutions. Combiflam® ICYHOT™ comes with dual benefits. On application, it produces an icy and a hot sensation. The icy action reduces the pain, while the hot action relaxes stiff muscles to give effective pain relief.
Pfizer and Lilly Announce Top-line Results From Phase 3 Study of Tanezumab in Chronic Low Back Pain
Tuesday, February 19, 2019: Pfizer Inc. (NYSE: PFE) and Eli Lilly and Company (NYSE: LLY) today announced positive top-line results from a Phase 3 study evaluating tanezumab in patients with moderate-to-severe chronic low back pain (CLBP). In the study, treatment with tanezumab 10 mg met the primary endpoint, demonstrating a statistically significant improvement in pain at 16 weeks compared to placebo. The tanezumab 5 mg arm demonstrated a numerical improvement in pain, but did not reach statistical significance compared to placebo at the week 16 analysis. Full results from this study will be submitted for future scientific publication and presentation. Tanezumab is a monoclonal antibody that is part of an investigational class of non-opioid pain medications known as nerve growth factor (NGF) inhibitors.
In this study, CLBP was defined as low back pain that had persisted for more than three consecutive months. Patients enrolled suffered from moderate-to-severe pain and had experienced inadequate pain relief from or intolerance to at least three different classes of analgesics. On average, they had CLBP for 10 years, and they reported a significant impact of their pain on their ability to function in everyday life. An estimated 33 million Americans have CLBP, and approximately eight million of these patients suffer from moderate-to-severe CLBP. The condition is a leading cause of disability, and currently available treatment options for CLBP do not meet the needs of all patients.
Key Market Trends
The analgesics market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for Analgesics and is expected to continue to be the largest market during the forecast period.
Significant rise in prevalence of chronic diseases is driving the analgesics Market. Analgesic drugs, also known as painkillers, are used to treat and reduce chronic or severe pain in the body resulting from various medical conditions. According to a study conducted by Institute of Medicine of The National Academies in 2017, around 100 million people were suffering from chronic pain in the USA. Similarly, as of 2017, one in five people were suffering from chronic pain in Europe. Also, there has been an increase in prevalence of diseases like cancer which increases the number of people suffering from chronic pain.
The growth of analgesics market is restricted by the increasing use of biologics for the treatment of inflammatory and neuropathic pain. Biologics are drugs produced from living organisms and include a number of components derived from human, animals or microorganisms. These drugs may contain protein, modified human hormones, or cells that produce substances that suppress or activate parts of the immune system. Biologics can provide greater efficacy compared to analgesics, which provide effective pain relief to only 50% of the patients, and is thus widely used nowadays. Rising demand for biologics can adversely impact the growth of the Analgesics market. In 2017, Pfizer and Lilly were granted approval by the FDA for developing Tanezumab, a biologics medicine.
Companies in the analgesics market are increasingly focusing on acquisition as a strategy for growth. Leading analgesic drug manufacturers are acquiring smaller companies to gain competitive advantage and strengthen their market position. These acquisitions are helping companies to expand geographically and gain specialized expertise in research and development of new products. For instance, Analgesic Solutions, LLC was acquired by WCG in the 2019. WCG intends to make use of superior R&D capability of Analgesic Solutions, LLC to grow and position itself as a market leader in the Analgesic Market. Similarly, in 2018, Aurobindo Pharma had acquired Sandoz for $900 million.
The US Food and Drug Administration (FDA) and the UK's Medicines and Healthcare products Regulatory Agency are some of the regulatory bodies that regulate the Analgesic Market. For instance, FDA has provided guidelines on manufacturing process of analgesics, and safety measures regarding use of both opioid and non- opioid analgesics. FDA also regulates and monitors misuse and abuse of opioid analgesics. Opioid analgesics are prohibited to be sold without proper medical prescription. Similarly, the Medicines and Healthcare products Regulatory Agency in the UK safeguards the public interest through effective regulation of analgesics drugs.
In September 2018, Aurobindo Pharma acquired the US business unit of Sandoz, a division of Novartis, for $900 million. This acquisition would help Aurobindo Pharma to widen its product portfolio in analgesics market. This acquisition would provide Aurobindo Pharma access to three drug manufacturing facilities of Sandoz, thus boosting its production capacity. Moreover, this acquisition would help Aurobindo Pharma to penetrate the US market. Sandoz was founded in 2003 and is headquartered in Holzkirchen, Germany.
Markets Covered:
1) By Type: Non-opioids, Opioids
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Drug Stores
3) By Route of Administration: Oral, Intravenous, Rectal, Transdermal, Topical
4) By Drug Type: Prescription Analgesics, OTC Analgesics
5) By Application: Internal Analgesics, External Analgesics
Influence Of The Analgesics Market Report:
-Comprehensive assessment of all opportunities and risk in the Analgesics market.
- Analgesics market recent innovations and major events.
-Detailed study of business strategies for growth of the Analgesics market-leading players.
-Conclusive study about the growth plot of Analgesics market for forthcoming years.
-In-depth understanding of Analgesics market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Analgesics market.
The report has 150 tables and figures browse the report description and TOC:
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Global Analgesics Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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