The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn more50 pages, Jun 2017
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Part 2 of this global briefing series takes a deeper dive into the issues surrounding global analgesics sales, including how manufacturers are working around opioids, how a global patchwork of regulations affects sales in different regions, and how companies are positioning products around reformulation. This report concludes with a discussion of the future of pain management, and that while the market appears to be largely static and free from innovation, the reality is very much the opposite.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Countries across the world have widely varying regulatory structures when it comes to the active pharmaceutical ingredients (APIs) available to consumers, whether they be OTC, behind the counter, or only via a prescription (RX). When looking at sales of analgesics across markets, it is crucial then to take into account situations where an API might be available OTC in one market and RX in another, since its regulatory status will have a significant impact on its overall sales value.
Analgesics containing opioid APIs (such as codeine and dihydrocodeine) can take up important retail space in markets where they are available OTC, as opioids are extremely effective in managing pain and are often viewed as being more powerful than other systemic analgesics. Though opioid analgesics are leaving several markets due to safety concerns, they may be entering others as concerns about pain management in the developing world clashes with pharmacovigilance.
Much of the innovation in analgesics is occurring along the lines of positioning, as companies seek to capture more of the consumer base by making existing products faster, longer lasting or smaller, to appeal to specific sectors of the consumer base, or by making existing products seem “new” through positioning them for more on-the-go consumers, athletes, or women, among other consumer groups.
Over the review period of 2011-2016, the global analgesics market posted a CAGR of 2%, and will continue to post a CAGR of 2% through 2021. While it may appear that the market is relatively inelastic, the market is actually much more dynamic and driven by regulatory openings, the influence of opioids, and renewed positioning and reformulation, among other factors.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.