Herbal Analgesics Market: Increase in Incidence of Acute as well as Chronic Diseases to Drive the Market
Herbal Analgesics Market: Introduction
- Painkillers or analgesics are used to treat pain and aches. External and internal analgesics are used to relieve pain resulting from cancer treatment, phantom aches, inflammation, neuropathic conditions, surgeries, wounds, etc.
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- Natural products play a key role in the discovery of analgesic drugs, as these help to define tedious mechanisms involved in messenger transmission and pain relief. Recently, a number of substances with antionociceptive actions have been redefined from natural sources, which possess unique structural classes and show more understanding of pharmacological mechanism of actions.
- Currently, demand for herbal products is high, as these have no/less side effects and no addictive potential. For example, presently, 40% to 45% of all medicines in the drug industry are derived indirectly or directly from natural sources. The WHO research findings suggest that nearly 25% are derived from plants, 15% from microorganisms, and 3% to 5% from animals. Capsaicin, morphine, quinine, captopril, and digitalis are some of the examples of drugs manufactured from natural sources.
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Herbal Analgesics Market: Drivers and Restraints
- Increase in incidence of acute as well as chronic diseases and rising threat of cancer are the key factors boosting the growth of the global herbal analgesics market. Therapeutic benefits offered by herbal analgesics and quick relief from pain are the other factors fueling the growth of the global herbal analgesics market.
- Rise in awareness about innovative treatment options for diseases, increase in recurring pain & aches due to rise in prevalence of accidental & chronic diseases, technological advancements, increase in geriatric population, and rise in cancer cases and other chronic diseases are expected to drive the global the herbal analgesics market in the next few years. However, rise in cost of development of drugs and slow acceptance rate are the factors projected to hamper the growth of the global herbal analgesics market.
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North America to Account for Major Share of Global Herbal Analgesics Market
- North America, dominated by the U.S., accounted for the major share of the global market in 2018, owing to increase in geriatric population, alarming rate of obesity, return of prominent brands, and better reimbursement policies. Rise in outsourcing of clinical trials by large biopharmaceutical & pharmaceutical organizations and better reimbursement & regulatory guidelines boost the growth of the market in the region.
- Nearly all countries in Southeast Asia have a heritage of traditional systems and infrastructure in medicines among practitioners as well as patients. This has made Asia Pacific a lucrative market for herbal analgesics.
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Key Players Operating in Global Herbal Analgesics Market
The global herbal analgesics market is highly fragmented, with key manufacturers implementing various strategies to gain maximum market share.
Leading players in the global herbal analgesics market are:
- Ayursun Pharma
- Uniroyal Biotech
- Sharangdhar Pharmaceuticals Pvt. Ltd.
- Gemini Pharmaceuticals
- Atlantic Essential Products, Inc.
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