Market Dynamics:
One of the key drivers for the growth of the global anti-inflammatory drugs market includes the rising prevalence of chronic diseases where inflammation plays a major role such as arthritis, lupus, and asthma. According to Arthritis Foundation, around 78 million adults and 300,000 children are suffering from arthritis in the U.S. Chronic inflammatory diseases like arthritis often cause persistent joint pain and stiffness and severely impacts mobility and quality of life. This has accelerated the demand for effective anti-inflammatory therapies in the market. Moreover, technological advancements are enabling the development of targeted anti-inflammatory drugs that selectively inhibit inflammatory pathways with improved safety profiles. This is anticipated to present lucrative opportunities and further fuel revenue growth of the market over the forecast period.
Key Takeaways
The Global Anti-Inflammatory Drugs Market Size is expected to witness high growth over the forecast period supported by rising incidence of disorders requiring inflammation management. The market size is projected to reach US$ 102248.44 Mn by 2023.
North America currently dominates the market owing to developed healthcare infrastructure and presence of major pharmaceutical players. However, Asia Pacific region is anticipated to register fastest growth due to large patient pool, growing medical tourism industry and improving access to diagnosis and treatment in emerging economies.
Key players operating in the anti-inflammatory drugs market include Pfizer, Inc., GlaxoSmithKline plc, Johnson & Johnson Services Inc., Merck & Company, Inc., Novartis AG, Amgen, Inc., AstraZeneca plc, Eli Lily and Company, AbbVie Inc., F. Hoffmann-La Roche AG, Bristol Myers Squibb Company, Biogen Inc., Sun Pharmaceutical Industries Ltd, Mylan, Inc., Aurobindo Pharma Limited, and Dr. Reddy€TMs Laboratories. These companies are focusing on new product launches, strengthening distribution networks globally and partnering with local players to enhance market presence.
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