Non-steroidal Anti-inflammatory Drug Market
Number of pages: 100 | Report Format: PDF | Published date: March 24, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 19.51 billion |
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Revenue Forecast in 2031 |
US$ 24.13 billion |
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CAGR |
5.27% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Application, Route of Administration, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global Non-steroidal anti-inflammatory drug market was valued at US$ 19.51 billion in 2022 and is expected to register a revenue CAGR of 5.27% to reach US$ 24.13 billion by 2031.
Non-steroidal Anti-inflammatory Drug Market Fundamentals
Non-steroidal anti-inflammatory medicines, or NSAIDs, are a class of drugs that are used to treat fever, inflammation, and pain. Ibuprofen, naproxen, and aspirin are a few typical NSAIDs. The growing elderly population, the rising prevalence of chronic pain and inflammatory diseases, such as arthritis, and the increasing public knowledge of the advantages of NSAIDs, are driving revenue growth in the market. The increasing demand for topical NSAIDs and the expanding availability of over-the-counter (OTC) NSAIDs are also expected to contribute to the market revenue growth.
However, the market for NSAIDs may experience significant obstacles, such as the potential for side effects, such as gastrointestinal bleeding and cardiovascular events, and the accessibility of substitute medicines, including opioids and non-pharmacological therapy. Players in the industry may witness difficulties due to regulatory concerns and patent expirations.
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Non-steroidal Anti-inflammatory Drug Market Dynamics
Non-steroidal drugs constitute a large market and are expected to grow at a rapid pace in the projected period. This revenue growth can be attributed to the growing prevalence of chronic pain, autoimmune, fever, and prevention of blood clots with an exponential rise in the aged population. Additionally, a strong pipeline and growing awareness of non-steroidal anti-inflammatory therapeutics contribute to market revenue growth. Increasing R&D activities, growing strategic collaborations and/or partnerships, and the continuous launch of new products also encourage the revenue growth of the market. Moreover, increasing technological advancements and lower costs of such treatments further fuel the expansion of this market.
However, side effects of non-steroidal NSAIDs, such as kidney failure and allergic reactions, can be a major hurdle in the optimal revenue growth of this market.
Non-steroidal Anti-inflammatory Drug Market Ecosystem
The global non-steroidal anti-inflammatory drug market is analyzed from four perspectives: application, route of administration, distribution channel, and region.
Non-steroidal Anti-inflammatory Drug Market by Application
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Based on the application, the market is segmented into arthritis, ophthalmic diseases, migraine, and others.
The arthritis segment dominates the segment with the largest revenue share attributed to the rising prevalence of rheumatoid arthritis and osteoarthritis due to sedentary lifestyles and unhealthy diets. Furthermore, the upsurge in the prescription of NSAIDs for treating painful arthritis and a large base of approved NSAIDs for this condition further boosts the revenue growth of the arthritis segment.
The migraine segment accounts for the second-largest revenue share of the market. This segment can be attributed to growing incidences of migraine and the rising number of drug approvals in this segment.
Non-steroidal Anti-inflammatory Drug Market by Route of Administration
Based on the routes of administration, the market is segmented into oral and parenteral.
The oral segment dominates the market with the largest revenue share due to the increasing prevalence of inflammatory diseases, such as headache, fever, and migraine, and growing demands for OTC NSAIDs. Furthermore, to treat headaches, migraines, and menstrual pains, NSAIDs are amply available in the form of tablets, pills, liquid gels, and suspension dose forms. Due to their quick and efficient pain and inflammatory relief, injectable NSAIDs have become popular in recent years. Acute pain, including post-operative pain, dental discomfort, and musculoskeletal pain, is frequently treated with injectable NSAIDs. As they minimize the possibility of inducing gastrointestinal side effects, such as bleeding and stomach ulcers, injectable NSAIDs are generally preferred over oral NSAIDs. Although injectable NSAIDs help treat acute pain, due to the possibility of side effects, they should not be used long-term to treat chronic pain. New injectable NSAID formulations, including liposomal bupivacaine and diclofenac, offer prolonged pain relief.
Non-steroidal Anti-inflammatory Drug Market by Distribution Channel
Based on the distribution channel, the global non-steroidal anti-inflammatory drug market is segmented into hospital pharmacies, online pharmacies, and retail pharmacies.
The hospital pharmacies segment dominates the global non-steroidal anti-inflammatory drug market due to a large patient pool and convenient access during emergency cases. The retail pharmacies segment has the second-largest market revenue share due to the rise in the incidences of various inflammatory disorders, such as arthritis and osteoporosis, and the increase in client demand. NSAIDs are the most often prescribed treatment for inflammation and discomfort. Over the past ten years, NSAID sales through retail pharmacies have steadily increased. The wide range of indications for which NSAIDs are used, the growth in the accessibility of over-the-counter NSAIDs, the rise in the prevalence of chronic pain, and other variables all contribute to the segment revenue growth. The development of novel formulations and delivery mechanisms, such as topical treatments, patches, and injections, contributes to the increase in NSAID sales. Retail sales of these drugs are expected to stay robust as the number of NSAID therapies continues to expand.
Non-steroidal Anti-inflammatory Drug Market by Region
Geographically, the global non-steroidal anti-inflammatory drug market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest revenue share in the global non-steroidal anti-inflammatory drug market. It is also expected to maintain its dominance during the forecast period. This market’s expansion can be ascribed to several factors, including the high incidences of inflammatory disorders, the large base of the aged population, and the sophisticated healthcare infrastructure. The North America market is registering significant revenue growth due to rapid growth in R&D activities, technological progress, and high healthcare spending. The market is also expected to rise due to the approval of innovative products and drugs and the presence of key market players in the region. Due to its developed healthcare infrastructure and high healthcare spending, Europe is the second-largest market participant.
A large geriatric population base, rapidly evolving healthcare facilities, and the growing adoption of innovative technologies are driving the revenue growth of the Asia Pacific market. In Asia Pacific, the market for non-steroidal anti-inflammatory medications (NSAIDs) has shown consistent expansion in recent years. Initially, the prevalence of chronic pain was increasing in the region, leading to a rise in the demand for NSAIDs. NSAID demand has also increased due to the availability of novel formulations and administration methods, such as topical treatments, patches, and injections. The wide range of indications for which NSAIDs are prescribed has also helped the market revenue growth. The rising understanding of the potential advantages of NSAIDs also stimulates regional market revenue growth.
Demand for non-steroidal anti-inflammatory medications has increased in the Middle East and Africa in recent years. Moreover, several variables, such as the increasing prevalence of chronic pain and the wide range of indications for which NSAIDs are used, are propelling market revenue growth in the region. Additionally, the availability of new formulations and delivery systems, such as topical preparations, patches, and injections, has also contributed to the revenue growth of the market in the region. Saudi Arabia, Turkey, and South Africa are some of the major markets in the region. The increasing demand for NSAIDs in these countries is likely to drive the expansion of the regional market over the next few years.
The growing prevalence of rheumatism, diabetes, obesity, and other chronic conditions characterizes the non-steroidal anti-inflammatory drug market in Latin America. Growing awareness of the benefits of NSAIDs in the region is also observed. Furthermore, there is rapid adoption of novel healthcare technologies and therapeutics in Latin America due to the growing penetration of health insurance. The Latin America non-steroidal anti-inflammatory therapeutics market is highly competitive, with companies such as Merck and Pfizer dominating the regional landscape. Considering the untapped market opportunities in Latin America, the major multinationals are intensely investing in product innovation, brand building, and marketing. These strategies are assisting in building and strengthening their foothold in the Latin America market. The major market players are also attentive to expanding their product portfolios through different drug formulations and strengths to gain a competitive advantage. Rapid commercialization of novel molecules is also an evident trend in the Latin America non-steroidal anti-inflammatory drug market. Retail pharmacies are the major distribution channel in Latin America, as the uptake of over-the-counter drugs is significantly high. Market players and retail chains are also utilizing online sales platforms to reach a larger consumer base. Flourishing medical tourism also supports the rapid revenue growth of the Latin America non-steroidal anti-inflammatory drug market.
Non-steroidal Anti-inflammatory Drug Market Competitive Landscape
The market for non-steroidal anti-inflammatory drugs is highly competitive. Major companies have a wide range of NSAID products, and they are constantly competing to launch new products and gain a larger market revenue share. Additionally, numerous smaller players in the market are also vying for a market revenue share. Players often rely on competitive pricing and innovative formulations to gain an edge over the larger players. The competitive landscape is expected to remain intense in the coming years, as companies launch new products and seek ways to gain market revenue share.
The prominent players operating in the global non-steroidal anti-inflammatory drug market are:
Non-steroidal Anti-inflammatory Drug Market Strategic Developments
The global non-steroidal anti-inflammatory drug market is expected to be valued at US$ 24.13 billion by 2031.
The high risk of side effects due to inappropriate usage of the drugs is restraining the global market’s revenue growth.
The global non-steroidal anti-inflammatory drug market is expected to register a revenue CAGR of 5.27% during the forecast period from 2023 to 2031.
The rise in the prevalence of arthritis, osteoporosis, and migraine, the increase in the geriatric population, and the growth in R&D activities are driving the revenue growth of the global non-steroidal anti-inflammatory drug market.
*Insights on financial performance is subject to availability of information in public domain