Meperidine Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global meperidine drugs market size is expected to grow at a CAGR of 4.1% over the forecast period. Increasing prevalence of diseases that cause chronic pain, such as cancer, periodontal disorders, postsurgical pain, lower back pain, fibromyalgia, and arthritis, is driving the market. As per the study of “Postoperative Pain Control”, around 75 percent of patients who undergo surgery experience acute postoperative pain, which is often medium-high in severity which further bolster the overall growth.

A key trend observed in the market is a significant rise in geriatric population, on the heels of increasing demand for pain relief solutions. This trend is likely to continue positively influencing the demand for meperidine drugs. Growing demand of meperidine drugs is driven by the cost efficiency of OTC analgesics drugs, technological advancement in the field of drug delivery systems, and increasing awareness amongst patients.

The wide range of application posses high probability to provide lucrative growth opportunities to meperidine drugs market. Some of the applications includes headache, muscle strain, bruising, or arthritis for recovering the modest pain. However, meperidine abuse, dependency and side effects of drugs may restrict the market.

Key Market Trends

The Anesthesia Segment is Expected to Show the Highest CAGR And is Expected to Continue the Same during the Forecast Period

• Anesthesia are expected to grow at a lucrative CAGR during the forecast period. There has been an increase in number of surgical procedures performed across the globe, including dental procedures, cosmetic surgeries, and plastic surgeries. This is a major factor driving the market for anesthetic segment. This growth is supplemented by increasing healthcare expenditure in developing countries such as India, China, and Brazil, where the number of surgeries performed has been on a steady rise.
• The high growth potential attained is a consequence of aging population with chronic diseases. The positive patient outcomes can be attributed to significant improvements in post-operative pain relief.
• In addition, the pain relief segment is anticipated to grow rapidly in the market mainly due to high usage of the drug in pain management therapies. However, product usage for pain is expected to decline over the forecast period owing to implementation of new regulatory framework. A new guideline has been designed by the CDC for Prescribing meperidine for Chronic Pain.

The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period

North America held the largest share in the market owing to the significant number of surgical procedures performed in the U.S. Increasing incidence of pain and pain-related disorders coupled with the escalating prevalence of chronic disorders are among factors driving the market in this region. This has been adding to healthcare expenditures of the nations in the region. Incremental rise in the number of patients and increasing product cognizance & adoption has also been accelerating market growth in the region.

The Asia-Pacific is expected to witness the fastest growth over the forecast period. The growth is attributed to increasing volume of dental and cosmetic surgeries, advancements in surgical procedures, and growing use of meperidine in post-operative pain management. Moreover, expanding geriatric population, is anticipated to drive the number of surgical procedures performed in the region, thereby promising the growth over the forecast period.

Competitive Landscape

The meperidine drugs market is moderately competitive and consists of selective number of major players. Investment for the development of effective & long-acting products with lesser adverse effects and improving geographic penetration through partnerships and collaboration are the key strategies adopted by the companies to increase their market share.

The major players include companies such Sanofi Aventis, Mallinckrodt Pharmaceuticals, Pfizer Inc., Epic Pharma, Novartis (Sandoz Canada Inc.), Sun Pharmaceutical, VINTAGE PHARMS and Teva Pharmaceutical.

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• The market estimate (ME) sheet in Excel format
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