As per the report titled ‘Global Analgesics Market Size study, by Type (Non-opioids, Opioids), by Administration (Oral, Intravenous, Rectal, Transdermal, Topical) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global analgesics market to exhibit a healthy growth rate throughout 2021-2027.
 

Surging usage of pain relief and pain management medications along with the burgeoning geriatric population is stimulating global analgesics market growth. Moreover, credible sources cite that the number of people aged over the age of 60 is anticipated to increase from 950-1000 million in 2017 to 2100 million by the year 2050, implying 21% of the total global population.
 

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For the uninitiated, analgesics, often called as painkillers or pain relievers, are drugs that aid in alleviating pain without affecting the consciousness, blocking nerve impulse conduction, or altering sensory perception.
 

Experts cite that rising cases of cancer are anticipated to augment the industry growth in the forthcoming years. On the contrary, stringent government regulations are likely to hamper the industry's progress.
 

Coming to the geographical viewpoint, North America (U.S., Canada), Asia Pacific (India, China, Japan, South Korea, Australia), Europe (France, Spain, Germany, Italy, U.K.), and Latin America (Mexico, Brazil) are the major areas defining the global analgesics market size and scope.
 

North America presently captures the majority of the industry share and will likely garner strong returns over the analysis period, creditable to increasing penetration of generic drugs and rising healthcare expenditure in the region.
 

Meanwhile, the industry in Asia Pacific is anticipated to undergo rapid expansion in the coming years on account of factors such as expanding the elderly population base, developing healthcare infrastructure, and increasing per capita income.
 

With respect to the competitive landscape, Eli Lilly and Company, Bristol-Myers Squibb Company, Endo Pharmaceuticals plc, Reckitt Benckiser Pfizer Inc. Group plc, Johnson & Johnson, Pfizer Inc., GlaxoSmithKline plc, Novartis International AG, Bayer AG, and Sanofi S.A. are the major players influencing the industry trends.