Pain Management Therapeutics Market (By Drug Class: NSAIDs, Opioids, Anesthetics, Antidepressants, Anticonvulsants, and Others; By Indication: Arthritic Pain, Neuropathic Pain, Chronic Back Pain, Post-Operative Pain, Cancer Pain, and Others; By Distribution Channel: Online Pharmacy, Retail Pharmacy, and Hospital Pharmacy) - Global Industry Analysis, Market Size, Share, Growth, Trends, Regional Outlook and Forecasts, 2021 - 2030

The global pain management therapeutics market size was valued at USD 69.54 billion in 2020 and is predicted to hit over USD 107.3 billion by the end of 2030, growing with the CAGR of 4.3% during the forecast period 2021 to 2030.

Pain Management Therapeutics Market Size 2017-2030

Key market Insights:

According to the data published by National Center for Complementary and Integrative Health, more than 20% of adult population in the United States was suffering from chronic pain and around 8% had severe chronic pain in the year 2018. In multiple studies it has been demonstrated that females are more susceptible to pain as compared to males. Almost 27% of women suffer from pain whereas around 24% of men undergo pain in the United States. Doctors generally prescribe Non-steroidal anti-inflammatory drugs (NSAIDs) in the initial phases of pain, followed by more targeted treatment selections. Prescription medicines are simple to use and are also economical when administered at a primary level. Augmented awareness about accessibility of medicines for pain management is driving the consumption and reception of pain management medications over other therapy options. Therefore, high awareness, easy access, quick action, and cost effectiveness have formed pain management medications more preferable over other therapy options. However, newer treatment options are constantly being tested. The key manufacturers are exploring effective ways to implement the network model for research and development. The continuing research and development help businesses to analyze new treatment combinations and its effectiveness for better pain administration. The focus is shifting towards personalized drugs, biologics, and quick dose lifestyle medicines that account for above 70% of the medications in development. The product lines are currently more inclined towards amending disease rather than concentrating on symptoms. Manufacturers are moving from chemical-based medications to biological products based therapeutics. Furthermore, the sympathetic administrative reform is also helping in the development of novel and active pain management medications.

Crucial factors accountable for market growth are:

  • Increasing geriatric population
  • Rising number of accidents worldwide
  • Growing prevalence of chronic disorders
  • Rise in per-capita healthcare expenditure
  • Increasing number of surgeries
  • Constant approvals for new easy-to-use and effective medications
  • Increasing cases of cancer in developing regions
  • Growing research and development expenditure

Significant Market Trends:

NSAIDs Segment Reported Foremost Market Stake in 2020

NSAIDs recorded the major market stake in the worldwide pain management therapeutics market in 2020. Availability as over-the-counter drugs and low-cost are the major reason for high market share of NSAIDs. Other factors such as ease of use and quick relief from pain boost the demand for Non-steroidal anti-inflammatory drugs (NSAIDs).

Opioids are anticipated to advance at the maximum CAGR through the forecast period due to launch of new products and high use in the alleviation of cancer pain.

Neuropathic Pain is Projected to Dominate the Indication Segment of Pain Management Therapeutics Market Revenue

Neuropathic pain is triggered by damage or ailment distressing the somatosensory nervous system. The neuropathic pain is mostly chronic in nature. Phantom limb syndrome is one example of neuropathic pain. This condition arises when a leg or an arm has been detached because of injury or illness, however the brain still receives pain messages through the nerves which formerly carried impulses from the absent limb. The misfiring of nerves causes pain. Due to the chronic nature of neuropathic pain, the pain-relieving medications are administered on a regular basis contributing to high revenue share.

Retail Pharmacy is Projected to Dominate the Distribution Channel Segment of Pain Management Therapeutics Market Revenue

High demand for over-the-counter medications and strong network of retail pharmacies are the major reasons responsible for high market share of oncology.

North America is Estimated to be the Largest Market for Pain Management Therapeutics

The research study covers key prospects and trends of pain management therapeutics products throughout different regions including Europe, North America, Asia-Pacific, Middle East and Africa, and Latin America. Regionally, pain management therapeutics market is dominated by North America due to high incidence of chronic disorders and presence of skilled researchers. On the other hand, Asia-Pacific is anticipated to witness the rapid growth rate, on account of increasing investment by major manufacturers, increasing cases of accidents, and high production of generics in the region.

Global Pain Management Therapeutics Market 2021-2030

Top Players contending in the Market:

The companies focusing on research and development are expected to lead the global pain management therapeutics market. Leading competitors contending in global pain management therapeutics market are as follows:

  • Teva Pharmaceutical
  • Pfizer
  • Abbott
  • Mallinckrodt Pharmaceuticals
  • Endo International
  • GlaxoSmithKline
  • AstraZeneca
  • Depomed
  • Merck
  • Novartis

In order to better recognize the current status of pain management therapeutics, and policies adopted by the foremost countries, Precedence Research predicted the future evolution of the pain management therapeutics market. This research study bids qualitative and quantitative insights on pain management therapeutics market and assessment of market size and growth trend for potential market segments.

Major Market Segments Covered:

By Drug Class

  • NSAIDs
  • Opioids
  • Anesthetics
  • Antidepressants
  • Anticonvulsants
  • Others

By Indication

  • Arthritic Pain
  • Neuropathic Pain
  • Chronic Back Pain
  • Post-Operative Pain
  • Cancer Pain
  • Others

By Distribution Channel

  • Online Pharmacy
  • Retail Pharmacy
  • Hospital Pharmacy

By Geography

  • North America
      • U.S.
      • Canada
  • Europe
      • Germany
      • France
      • United Kingdom
      • Rest of Europe
  • Asia Pacific
      • China
      • Japan
      • India
      • Southeast Asia
      • Rest of Asia Pacific
  • Latin America
      • Brazil
      • Rest of Latin America
  • Middle East & Africa (MEA)
      • GCC
      • North Africa
      • South Africa
      • Rest of Middle East & Africa
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FAQ's

What is pain management therapeutics?
The pain management therapeutics domain includes the contraction and treatment of pain with the use of various groupings of drugs and workouts which deliver relief to the sufferer by directing at the receptors. The demand for pain management has seen an exponential rise mainly due to changing lifestyle patterns and growing number of chronic ailments.
The global pain management therapeutics market size was accounted at USD 69.54 billion in 2020 and expected to surpass USD 107.3 billion by the end of 2030.
The global pain management therapeutics market size was valued at USD 69.54 billion in 2020 and is predicted to hit over USD 107.3 billion by the end of 2030, representing impressive CAGR of 4.3% during the forecast period 2021 to 2030.
Factors such as increasing geriatric population, rising number of accidents worldwide, growing prevalence of chronic disorders, rise in per-capita healthcare expenditure, increasing number of surgeries, constant approvals for new easy-to-use and effective medications, increasing cases of cancer in developing regions, and growing research and development expenditure are propelling the pain management therapeutics market expansion across the globe.
In 2020, North America dominated the global market with a market share of more than 43%.
The neuropathic pain segment accounted for the largest revenue within the indication segment with more than 32% share in 2020. Factors such as large patient pool and technological innovations drive the growth of interventional study. Chronic back pain and cancer pain indications are projected to grow at significant rate in the forecast time-frame.
The major companies operating in the worldwide pain management therapeutics market are Teva Pharmaceutical, Pfizer, Abbott, Mallinckrodt Pharmaceuticals, Endo International, GlaxoSmithKline, AstraZeneca, Depomed, Merck, and Novartis among others.

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