June 17, 2024
Anti-Inflammatory Drugs Market

The Anti-Inflammatory Drugs Market is Primed for Growth through Biosimilars

The anti-inflammatory drugs market comprises drugs that help reduce pain, swelling, and joint damage by decreasing inflammation. Anti-inflammatory drugs are commonly used to reduce fever and treat rheumatoid arthritis, osteoarthritis, gout, and menstrual cramps. Nonsteroidal anti-inflammatory drugs (NSAIDs) make up a large part of the market and work by blocking prostaglandins, chemicals that sensitize pain receptors. Other popular anti-inflammatory drugs include corticosteroids that powerfully suppress the immune system’s inflammatory response.

The global anti-inflammatory drugs market is estimated to be valued at US$ 118.21 billion in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Anti-Inflammatory Drugs Market Demand include 48 London, Alpine Escape, Arburton Ltd, Aspen Luxury Concierge Service LLC, AZ Luxe, Bon Vivant, Globe Infinite, Ibiza Luxury Concierge Service, Innerplace Co., and John Paul. These companies dominate the market through their extensive drug portfolios and global distribution networks.

The growing geriatric population globally is fueling demand for anti-inflammatory drugs as older adults are more prone to chronic inflammation and pain. Moreover, rising lifestyle disease incidence, especially arthritis, is another major factor augmenting the anti-inflammatory drugs market.

The anti-inflammatory drugs market is expanding rapidly in developing regions due to increasing healthcare expenditures, greater medication access, and growing disease awareness. Market players are actively pursuing emerging markets through acquisitions, partnerships, and manufacturing plant investments.

Market Key Trends

A key trend in the Anti-Inflammatory Drugs Market is the rise of biosimilars. As patent cliffs continue to hit blockbuster biologics, companies are aggressively developing biosimilar versions of popular drugs to capture market share. Biosimilars offer vastly reduced prices compared to originator biologics, increasing treatment access. However, developing approvable biosimilars remains technically challenging due to the complexity of biological molecules. As regulatory clarity improves globally and more biosimilars receive approval, competition is set to intensify in the anti-inflammatory drugs industry in the coming years.

Porter’s Analysis

Threat of new entrants: The anti-inflammatory drugs market has moderate barriers for new entrants due to high investments required for research, clinical trials, and manufacturing facilities. However, new innovative drugs in niche areas can enter the market.

Bargaining power of buyers: Individual consumers have low bargaining power due to reliance on branded drugs. However, large institutional buyers can negotiate on price and contract terms.

Bargaining power of suppliers: Pharmaceutical companies and CROs involved in drug development and manufacturing have moderate bargaining power due to their specialized expertise and facilities required. However, established players have alternatives to avoid over-dependence on any supplier.

Threat of new substitutes: alternative treatment options like physiotherapy, joint replacement surgeries pose threats. However, drugs still remain first line of treatment due to cost and accessibility advantages over other options.

Competitive rivalry: The anti-inflammatory drugs market has high competition due to presence of many international and local players. Players compete based on product differentiation, pricing, and marketing strategies.

Geographical region with highest market share in terms of value is North America due to high healthcare expenditure and penetration of branded drugs. Europe is second largest region driven by supportive regulatory environment and coverage under national formularies.

The Asia Pacific region is identified as the fastest growing region for anti-inflammatory drugs market over the forecast period. Factors such as rising healthcare spending, large patient pool, increasing adoption of branded drugs, and expansion by international players will drive the growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it