The global pain and fever relief drugs market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The COVID-19 pandemic has initially created a high demand for these drugs, such as paracetamol. The majority of paracetamol API is exported from India and China. Due to the lockdown situation, most of the markets globally faced a shortage of paracetamol, leading to increased prices for paracetamol tablets online and in independent community pharmacies. Amid the COVID-19 situation, the governments of various authorities supported the local manufacturing of paracetamol. This will strengthen the local market players and competitiveness around the world.
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The major factors that are responsible for the growth of the market include the rising prevalence of conditions such as headaches, and flu, among others and the increasing demand for pain management drugs. Paracetamol is widely used in the treatment of mild to moderate pain, including headache, menstrual period, toothache, backache, osteoarthritis, or cold/flu aches, and pain. Furthermore, it is an effective antipyretic used to reduce fever. The growing burden of the indicative conditions and rising demand for OTC products are driving the growth of the market during the forecast period. Moreover, as the older population is more prone to osteoarthritis, toothache and other indicative diseases, the market is expected to witness growth during the forecast period.
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Recent Developments
- In March 2020, Johnson & Johnson announced that it will be ramping up production of its flagship product Tylenol which is an over-the-counter pain killer.
- In February 2020, GlaxoSmithKline got approval from the FDA for Advil Dual Action, with Acetaminophen as an over-the-counter (OTC) product for pain relief.
Market Coverage
- Segment Covered-
- By Drugs
- By Distribution Channel
- Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape: AstraZeneca plc, AbbVie Inc., and B. Braun Melsungen AG, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Pain and Fever Relief Drugs Market Report by Segment
By Drugs
- Aspirin
- Diclofenic Acid
- Ibuprofen
- Aspirin
- Paracetamol
- Naproxen
- Metamizole Sodium
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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