Pain Management Therapeutics Market Opportunities 2031
MARKET OVERVIEW
Pain is a distressing sensory & emotional sensation similar to existing or potential tissue injury. It is an uncomfortable sensation, like a tingle, sting, prick burn, or soreness. Pain might be subtle or intense and It could be continual or intermittent. The patient may experience discomfort in their entire body or just one place, such as their back, abdomen, chest, and pelvis. Pain can also aid in the diagnosis of a problem. Acute pain and chronic pain are two different types of pain. Acute pain frequently appears out of nowhere because of a condition, an injury, or inflammation. It is frequently treatable and diagnosable. Usually, it fades away, but occasionally, it can develop into persistent pain.
On the other hand, chronic pain lasts for a long time and can cause severe problems. The main causes of chronic pain include nerve damage and injury, bone and joint ageing, and other disorders. A specific class of medications is used to treat or manage pain and its effects in long term. The pain process is intricate, but there are several medications that can help by acting through different physiological mechanisms. The most common type of painkiller prescribed is an opioid. These are narcotic painkillers that contains both natural and synthetic opiates. Opioids are typically used to treat acute pain, such as the immediate postoperative discomfort. Additionally, other opioids used for the tretamnet of pain includes morphine, fentanyl, oxycodone, and codeine. Treatment of pain is based on the nature and source of pain. Pain management also includes therapies and devices that help alleviate the pain. Additionally, there are non-drug therapies like acupuncture, physical therapy, and occasionally surgery.
MARKET SCOPE
The "Global pain management therapeutics market analysis to 2031" is a specialized and in-depth study of the pharmaceutical industry with a special focus on global market trend analysis. The report aims to provide an overview of the pain management therapeutics market with detailed market segmentation by drug class, indication, distribution channel, and geography. The report provides key statistics on the market status of the leading pain management therapeutics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The pain management therapeutics market size is segmented into drug class, indication, distribution channel, and region. Based on drug class, the global pain management therapeutics market is differentiated into NSAIDS, anesthetics, anticonvulsant, anti-migraine drugs, antidepressant drugs, opioids and others. By indication, the pain management therapeutics market is classified into arthritic pain, neuropathic pain, cancer pain, chronic pain, post-operative pain, migraine, fibromyalgia, bone fracture and others. By distribution channel, the pain management therapeutics market is segmented into hospital pharmacies, retail pharmacies and online pharmacies.
MARKET DYNAMICS
Drivers
The market for pain management therapeutics is favorably impacted by the increasing demand for pain relief medications, rising healthcare costs, increerasing disease knowledge among physicians and patients, and numerous R&D projects. According to the National Health Statistics, over 310 million major procedures are carried out annually, of which 40 to 50 million take place in the US and 20 million in Europe. Additionally, the number of surgeries performed globally is increasing, which is the main factor driving the use of painkillers. The pain management therapeutics market is consequently driven by increased cancer therapies linked to pain incidence and a growing elderly population using different therapies. In addition, increased traffic and road accidents cause relative trauma injuries that increase the need for postoperative pain management. Additionally, as per WHO estimates evaey years ~1.3 million people dies in traffic accidents. Around 20 and 50 million people worldwide experience non-fatal injuries, and many of them develop disabilities as a result of their injuries. The great availability, ease of access, increased knowledge, cost-effectiveness, and speed of alleviating pain management medicines affect consumer preference. However, the pain management therapeutics market expansion is constrained by the escalating worries about drug exploitation. Furthermore, the market for pain management therapeutics market is anticipated to benefit greatly from recent developments in pain management based on nanoparticles.
REGIONAL FRAMEWORK
Due to the availability of improved pain care treatment, the rising number of patients with chronic diseases, the availability of advantageous insurance policies, and the expanding base of the ageing population, the North American pain management therapeutics market is anticipated to account for a considerable revenue share. The market is expected to expand more quickly as the elderly population grows since they are more likely to develop chronic illnesses. Additionally, it is anticipated that growing partnerships and agreements between regional and worldwide firms will assist the target market's revenue growth. The presence of several players operating in the nation and a strategy for introducing novel solutions are projected to spur the expansion of the target market.
The Asia-Pacific pain management therapeutics market is anticipated to grow at the significant rate during the forecast period. One of the main factors propelling the growth of the pain management therapeutics market is the rising prevalence of diseases including cancer, diabetic neuropathy, osteoarthritis, and chronic arthritis. Other important drivers include the rising number of surgical procedures and rising healthcare spending. However, the expansion of the market for pain management therapeutics has been significantly constrained by reasons such the rise in generic completeness, the patent expiration of blockbuster drugs, and the accessibility of alternatives like pain relief devices. Additionally, prescribing drug abuse will restrain the market's expansion.
Pain Management Therapeutics Market Report Analysis
CAGR (2023 - 2031)
US$ XX Million
US$ XX Million
Report Coverage
Key Players
Regional Overview
Market Segmentation
By Drug Class
By Indication
By Distribution Channel
The report covers key pain management therapeutics market developments, such as organic and inorganic growth strategies. Various companies such as Abbott, AstraZeneca, BoehringerIngelheim, Eli Lilly & Company, Mylan N.V., Pfizer, Depomed Inc., Endo International Plc., GlaxoSmithKline Plc., Johnson & Johnson, Merck & Co. Inc., Novartis AG, Purdue Pharma L.P., Teva Pharmaceutical Industries and others are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players from the pain management therapeutics market are anticipated to have lucrative growth opportunities with the rising demand for pain management therapeutics in the global market.
Key Developments in Global Pain Management Therapeutics Market
- In October 2022, Parker Laboratories, Inc launched two powerfully effective topical pain management creams Helix Tri-Active and Helix with CBD, which offer new options for patients battling chronic pain.
- In August 2022, Myovant Sciences and Pfizer Received U.S. FDA approval for MYFEMBREE, a once-daily treatment for managing moderate to severe pain associated with endometriosis.
- In October 2021, Esteve Pharmaceuticals received U.S. Food and Drug Administration (FDA) approval for SEGLENTIS, which is used to treat individuals with acute pain that is severe enough to need an opioid analgesic but not sufficiently managed by other methods.
- In 2021, Senza Omnia Spinal Cord Stimulation System was introduced by NeuroPace, Inc. in the US to treat chronic pain. This is anticipated to assist the business in expanding its product line and improving its profit margin.
The report also includes key companies' profiles, their SWOT analysis, and market strategies in the pain management therapeutics market growth. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last three years, and key development in the past five years.
The Insight Partner’s dedicated research and analysis team comprises experienced professionals with advanced statistical expertise and offers various customization options in the current study.
Pain Management Therapeutics Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ XX Million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2023 - 2031) | XX% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Drug Class
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1. NOVARTIS AG
2. ELI LILLY AND COMPANY
3. ABBOTT LABORATORIES
4. ENDO HEALTH SOLUTIONS, INC
5. PURDUE PHARMA L.P.
6. PFIZER, INC.
7. MYLAN NV.
8. MERCK AND CO. INC
9. JOHNSON AND JOHNSON
10. GLAXOSMITHKLINE PLC.
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