LONDON, Oct. 18, 2019 /PRNewswire/ — 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 2019. WCG intends to make use of the superior R&D capability of Analgesic Solutions, LLC to grow and position itself as a market leader in the analgesic market. Similarly, in September 2018, Aurobindo Pharma acquired the US business unit of Sandoz, a division of Novartis, for $900 million. This acquisition helped Aurobindo Pharma to widen its product portfolio in the analgesics market. This acquisition also provided Aurobindo Pharma access to three drug manufacturing facilities of Sandoz, thus boosting its production capacity. Moreover, after this acquisition, Aurobindo Pharma was able to penetrate the US market. Sandoz was founded in 2003 and is headquartered in Holzkirchen, Germany.
Other major players in the global analgesics market include Bayer Healthcare, Pfizer, Sanofi, Johnson & Johnson and Novartis AG.
The Increasing Prevalence Of Chronic Diseases Is Driving The Analgesics Market
The global analgesics market was valued at about $30.26 billion in 2018 and is expected to grow to $35.95 billion at an annual growth rate of 4.4% through 2022. Driving the market is the significant increase in the prevalence of chronic diseases. 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 the 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 such as cancer, which increases the number of people suffering from chronic pain.
Growing Demand For Biologics Will Hinder The Analgesics Market Growth
The growth of the analgesics market (https://www.thebusinessresearchcompany.com/report/analgesics-global-market-report) 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 humans, 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 when compared to analgesics (which provide effective pain relief to only 50% of the patients) and are thus widely used nowadays. Increasing demand for biologics can adversely impact the growth of the analgesics market. In 2017, Pfizer and Lilly were granted approval by the Food and Drug Administration for developing Tanezumab, a biologics medicine.
Analgesic drugs include opioids, non-steroidal anti-inflammatory drugs (NSAIDs), local anesthetics and Acetaminophen. These drugs can be administrated through oral, intravenous, rectal, transdermal or topical methods. Analgesics drugs are generally distributed by channels such as 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 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.
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