SEATTLE– According to Coherent Market Insights, the global anti-inflammatory drugs market is estimated to be valued at US$ 79,830.2 million in 2020 and is expected to exhibit a CAGR of 8.6% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Anti-inflammatory Drugs Market:
Key trends in the market include rising incidence of chronic diseases, rising number of product approvals and launches, and ongoing research and development for anti-inflammatory drugs.
Market players are actively focusing on research and development for anti-inflammatory drugs, which is expected to drive the market growth. For instance, AbbVie, a biopharmaceutical company, is developing Upadacitinib (ABT-494) for the treatment of moderately to severely active rheumatoid arthritis. The trial is in Phase III evaluating in subjects with moderately to severely active rheumatoid arthritis who are on a stable dose of conventional synthetic disease-modifying anti-rheumatic drugs (csDMARDs) and have an inadequate response to csDMARDs. This interventional trial started in December 2015 and the study is expected to be completed in February 2022.
However, side effects of anti-inflammatory drugs is expected to hinder the market growth. The common side effects of nonsteroidal anti-inflammatory drugs (NSAIDs) include nausea, heartburn, and indigestion. It may also include stomach bleeding or kidney problems and others.
Key Market Takeaways:
The global anti-inflammatory drugs market is expected to exhibit a CAGR of 8.6% during the forecast period, owing to rising incidence of chronic diseases. For instance, according to an article published by the Multiple Sclerosis News Today in September 2020, the prevalence of multiple sclerosis increased globally rising from 2.3 million people affected in 2013 to 2.8 million in 2020.
Key players in the market are focusing on receiving approval for anti-inflammatory drugs from the regulatory authorities, which is expected to propel the market growth during the forecast period. For instance, in April 2019, AbbVie, a research-based global biopharmaceutical company, received the U.S. Food and Drug Administration (FDA) approval for SKYRIZI (risankizumab-rzaa), an interleukin-23 (IL-23) inhibitor for the treatment of moderate to severe plaque psoriasis in adults.
Key players operating in the global 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’s Laboratories among others.
