The size of the global pain management therapeutics market was estimated to be around USD 79.15 billion in 2022. By 2032, the pain management therapeutics market is projected to grow at a CAGR of 4.8% and will likely total about USD 126.49 billion.
“Manufacturers concentrating more on ambulatory pain management techniques, reformed reimbursement policies and increasing geriatric population are expected to uplift the pain therapeutic solutions market growth.”
An unpleasant physical sensation known as pain can be brought on by an injury or tissue damage. The pain management market is mainly divided into medical and physical therapies. The need for effective pain management has increased due to the pain caused by conditions like injuries from trauma and cancer treatments.
Discomforts or pain can cause by diseases such as multiple sclerosis, osteoarthritis, fibromyalgia, stomach ulcers and chronic arthritis which further need therapeutic solutions to relieve pain. Various drugs are used to treat pain that occurs as a result of nociceptive pain, nerve damage, or inflammation in reaction to tissue damage.
| Attributes | Details |
|---|---|
| Pain Therapeutic Solutions Market CAGR | 4.8% |
| Pain Therapeutic Solutions Market Size 2022 | USD 79.15 billion |
| Pain Therapeutic Solutions Market Size 2032 | USD 126.49 billion |
The need for opioids as a pain reliever is rising in low-income countries as a result of numerous government initiatives to provide palliative care for patients with crippling cancer pain. The increasing use of opioids to treat neuropathic pain is predicted to accelerate the pain management therapeutics market expansion. The overall pain management therapeutics market will grow in the future due to the rise in surgical procedures and the rise in healthcare costs.
The restraints like drug exploitation, the availability of substitutes like pain relief devices, and the patent expiration of prescription painkiller drugs could limit the pain management therapeutics market growth during the forecast period.
The global market for pain management therapeutics can be divided into anaesthetics, anticonvulsants, NSAIDs, anti-migraine medications, opioids, antidepressant medications, non-narcotics, and analgesics based on the drug class. The market for pain management therapeutics can be segmented based on indication into cancer pain, arthritic pain, acute appendicitis, neuropathic pain, chronic pain, post-operative pain, fibromyalgia, migraine, bone fracture, muscle sprain/strain, and others.
The pain management therapeutics market can be divided into chronic pain and acute pain based on the type of pain. The market for pain management therapeutics can be divided into hospital pharmacies, retail pharmacies, and online pharmacies based on the distribution channel.
The pain management therapeutics market in North America is currently the largest and is expected to continue to be so throughout the study period. The high growth in this regional pain management therapeutics market can be attributed to the growing elderly population, the growing adoption of pain management therapeutics for treating neuropathic pain, and the supportive regulatory environment.
The pain management therapeutics market in Asia-Pacific is anticipated to grow at the fastest rate over the forecasted years. The high pain management therapeutics market growth of the region is a result of rising healthcare costs, increased awareness of neuropathic pain management, and a sizable patient base.
In the upcoming years, the Asia Pacific pain management therapeutics market is probably going to expand quickly. It is anticipated that developing nations in the region, like Japan, China, and India, will help to increase awareness of pain management therapeutics products, drive up demand for pain management therapeutics, and make them more readily available.
To increase their market share in pain management therapeutics, key players are focusing on product launches, mergers and acquisitions, partnerships, and collaborations. There are many significant players in the fiercely competitive pain management therapeutics market. There is fierce competition in the pain management therapeutics market because the established players use effective competitive strategies.
One of the key drivers driving the market for pain management therapeutics is the increase in the geriatric population since older people are more likely to experience joint pain and other chronic illnesses.
Furthermore, key drivers expanding the market expansion include rising healthcare costs, favourable regulations and reimbursement for pain management treatments, a greater emphasis on palliative care, and an increase in the number of cancer patients who experience severe pain.
The rising prevalence of chronic diseases including diabetic neuropathy, cancer and osteoarthritis as well as the rise in surgical procedures all contribute to the market growth of pain therapeutic solutions.
Additionally, growing consumer preference for pain therapeutic solutions due to high availability and increased acceptability of pain therapeutic solutions drugs over other treatment options are results of increased consumer awareness of the availability of medications for treating pain.
Geographically, the pain therapeutic solutions market is broadly divided into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
Among the major regions, North America is expected to hold the largest market share owing to palliative care, favourable reimbursement policies for post-operative care and high awareness of pain management.
On the other hand, the Asian region is expected to emerge as the rapidly growing region in the global pain therapeutic solutions market. The market growth is attributed to the widespread consumer demand for pain relief and reformed regulatory guidelines for the use of pain therapeutic solutions commercially.
Some of the key manufacturers operating in the pain therapeutic solutions market are Boston Scientific Corporation, Sanofi S.A, Sun Pharmaceutical Industries Ltd., Boehringer Sohn AG & Co. KG, Smiths Medical, St. Jude Medical, Stryker Corporation, Pfizer Inc., Purdue Pharma, Mallinckrodt Pharmaceuticals and Endo Pharmaceuticals Inc.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 2.9% 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Billion and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segment Covered | Drug Class, Indication, Pain Type, Indication, Region |
| Region Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Players | Boston Scientific Corporation; Sanofi S.A; Sun Pharmaceutical Industries Ltd.; Boehringer Sohn AG & Co. KG; Smith’s Medical; St. Jude Medical; Stryker Corporation; Pfizer Inc.; Purdue Pharma; Mallinckrodt Pharmaceuticals; Endo Pharmaceuticals Inc. |
| Customization | Available Upon Request |
The global pain therapeutic solutions market is anticipated to register a CAGR of 2.9% during the forecast period.
The pain therapeutic solutions market is projected to be about US$ 102.9 Bn by the end of year 2032.
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Pain Therapeutic Solutions Market
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