Anti-inflammatory drugs are commonly used medications for the treatment of pain, fever, swelling and other symptoms associated with inflammation. They reduce inflammation in various parts of the body such as joints, muscles, tendons and glands. With increasing geriatric population and rising prevalence of arthritis across the globe, the demand for anti-inflammatory drugs has surged in order to manage arthritis pain and associated symptoms.
The global Anti-Inflammatory Drugs Market is estimated to be valued at US$ 118.21 Bn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The rising geriatric population and increasing cases of arthritis have been a major driver boosting the anti-inflammatory drugs market. As per the Arthritis Foundation, around 54 million adults in the U.S. were diagnosed with arthritis in 2018 which is further expected to rise to 78 million by 2040. Moreover, according to the U.N., the number of people aged 60 or over is expected to double from 12% to 22% between 2015 and 2050 globally. With increasing age, the risks of arthritis and inflammation-related conditions rise significantly which is compelling this demographic to use anti-inflammatory drugs regularly for managing arthritis symptoms and related health issues. Thus, the market is expected witness steady growth during the forecast period supported by this key demographic and disease prevalence trend.
SWOT Analysis
Strength: Anti-inflammatory drugs are highly effective in reducing inflammation, pain, and swelling. They have demonstrated safety profiles for short-term use.
Weakness: Long-term usage can cause side effects like liver damage, gastrointestinal issues, risk of heart attacks and strokes. Dependence and addiction are other concerns.
Opportunity: Growing geriatric population suffering from arthritis and other inflammatory diseases increases the market potential. Developing novel anti-inflammatory drugs with better safety profiles offers business opportunities.
Threats: Entry of generic drugs poses pricing pressure on innovator brands. Alternative treatment options like yoga, physiotherapy threaten the market.
Key Takeaways
The global Anti-Inflammatory Drugs Market Size is expected to witness high growth. Rapidly aging population suffering from arthritis across the world drives the demand. As per estimates, over 350 million people suffer from arthritis globally. The global Anti-Inflammatory Drugs Market is estimated to be valued at US$ 118.21 Bn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024-2031.
North America dominated the market in 2020 owing to high disease prevalence and healthcare spending in the region. However, Asia Pacific is anticipated to grow at the fastest pace during the forecast period due to rising healthcare awareness, medical tourism and strong economic growth in developing countries like India and China.
Key players operating in the anti-inflammatory drugs market are 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 are focusing on expanding their product portfolios through new product launches and acquisitions to strengthen their market position. For instance, in January 2021, 48 London acquired an Australia-based luxury travel company to extend its services across the Asia Pacific region.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it