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.
- 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.
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.
Global Herbal Analgesics Market, by Type of Pain
- Musculoskeletal Pain
- Surgical & Trauma Pain
- Cancer Pain
- Neuropathic Pain
- Obstetrical Pain
Global Herbal Analgesics Market, by Route of Administration
Global Herbal Analgesics Market, by Drug Class
Global Herbal Analgesics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.