The global pain management therapeutics market size reached USD 73 billion in 2022 and is projected to attain USD 108.57 billion by 2032, growing at a CAGR of 4.10% from 2023 and 2032.
The pain management therapeutics market refers to the part of the healthcare sector across the globe that provides several solutions for any form of pain a patient is going through; these may include migraine, headaches, back pain after surgeries, muscle sprain, and any chronic pain manifesting frequently. Due to the fast-forwarding speed of lifestyle and hectic schedule, people suffer from several physical and mental health issues. Therapies have been introduced in many forms, like opioids and non-narcotic analgesics, devices like neurostimulation devices, analgesics infusion pumps, etc., to reduce such a problem caused by the increasing ascendancy of chronic pain. Major key players in pain management markets are Abbott, Baxter, Boston Scientific, etc.
Painkillers have been entirely normalized to take as instant pain suppressers. They are usually available over the counter at many healthcare stores, making it an easily accessible pain relief technique for people, and this has led to the pain management market driving remarkably in the past few years. These drugs are the most common form of pain management treatments, including post-surgical care, which has led to a higher demand for pain management drugs and devices.
Regular analgesic drugs may have several side effects on the body. People are becoming more conscious of making smarter choices like device-based pain management therapies over the bunch of painkillers that may cause resistance in the body if they get used for a more extended period. Individuals are switching to nonopioid medications consciously as opioids medication affect the brain mainly in a manipulative manner to suppress the feeling of pain, and it adversely affects health as it is highly addictive. The current market is gradually moving towards nonopioid medicinal options as nonopioid drugs are in their initial stage of development.
Chronic pain is found at a higher rate among the geriatric population than in younger people or adults. Therefore, major key players in the pain management market launch products and services targeted towards the ageing populations to relieve them from the pain they are dealing with. Such a new launch causes pain management market drives at a higher rate with maximum shareholdings by the leading key players in the healthcare market globally.
North America dominates the pain management market with the most considerable share. The United States in this region has a frequent turnover in the pain management sector of healthcare. This is mainly due to the rampancy in increasing surgical interventions that cause people to favour therapeutic pain management methods, further driving the market and its increased demand for long-term to reduce frequent episodes of physical pain. Also, factors such as the increasing geriatric population that often suffers from chronic pain led to availing most therapies to manage their pain and reduce it as early as possible. All these needs led to the establishment of a pain management market, and it's expected to grow further shortly.
Moreover, chronic pain issues in America have been rising for the last few years. Nowadays, one out of five healthy people suffer due to chronic pain. To address this health issue, people are more inclined towards pain management devices instead of pain management opioids. According to the ASRA, the American Society of Regional Anaesthesia and Pain Medicine, frequent use of opioids for chronic pain management therapy may lead to immune resistance because of continuous doses of steroids in interventional pain-reducing procedures, which cause critical conditions to not able to fight against viral infections. Such factors led the pain management market to grow fastest, with maximum shares held in the North American region.
Europe has several opportunities for pain management therapeutics market growth. Calcium deficiency has been noticed amongst people from Europe in numerous ways due to the atmospheric conditions. Oceanic climatic changes cause less exposure to sunlight and eventually less formation of vitamin D, which plays a vital role in bone formation and strength. According to the data published by the International Osteoporosis Foundation, 20 million people suffer from low bone density, causing osteoporosis, especially in the population aged above 50. This will further drive a pain management therapeutics market on a broader scale in Europe.
Aisa Pacific is expected to lead the pain management market over a short duration due to the prevalence of physiological and psychological issues like migraine, depression, bipolar disorder, schizophrenia, etc. All such treatment requires moderate doses and frequent therapies to solve these conditions, and they often play as long-term treatments. According to the World Health Organization, India solely has recorded 15% of neurological disorders, including substance abuse. Antidepressants have frequent needs, therefore, to treat such disorders. Major depressive disorders are treatable and let a person live a more productive life as well. Such increasing awareness in the people fuels the therapeutic market growth in the Asia Pacific region.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 75.63 Billion |
| Projected Forecast Revenue by 2032 | USD 108.57 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 4.10% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Drivers
Rising prevalence of chronic pain on a global scale
The increasing cases of chronic pain are a significant factor that has contributed to the sustenance of the pain management market up to date, and it will further accelerate the growth of the market as chronic pain needs to be treated with long-term therapies and observations. Chronic pain can be experienced by anyone, irrespective of age factor. However, the geriatric population are more prone to chronic diseases and thus to suffering.
It's estimated that 10% of the global population means 1.5 billion people suffer from chronic pain. World Health Organisation (WHO) predicts that, by 2030, chronic pain will be the leading healthcare concern that affects people globally significantly. Such cases further increase the demand for pain management therapies and devices, which extends the pain management market.
Increasing awareness about technical advancement
The world population is suffering from many health concerns and pain, like acute pain, which lasts for some hours after surgeries, and chronic pain, which cannot be easily treatable by prescription tablets and needs to be addressed for a longer time. Also, many people suffer severely from primary neurodegenerative disorders, which affect even their identity and make them unable to perform even mundane work. Due to the rising health concern worldwide, people are more aware of pain management therapies and technologically advanced devices that relieve their pain and reduce its effects. Along with that, most countries' healthcare sectors also invest in research for fatal conditions like cancer, diabetes, and heart-related concerns to develop a robust ecosystem against such life-threatening disorders.
Recently, hormone therapy has been used to reduce cancer-causing cells. Likewise, radiation therapy is also used by many health professionals to kill a cancer cell with a high-frequency beam. For instance, the morph device is a small electrical nerve stimulator that is used to place behind the patient's ear, which helps reduce the after-effects of opioids. Neurostimulators are also used to disrupt the pain signal pathways and make the patient feel relief. Such factors are driving the pain management market at a higher pace, and it will further flourish with more health-friendly options.
Restraint
High cost of pain management devices
A significant factor that can hamper the growth of the pain management market is the higher rate of pain management devices. Omron Healthcare released a device called TENS, which is applicable for acute and muscle pain. That stimulates nerves by electrical impulse to, in turn, produce endorphins in the brain, which act as a natural pain relief. These devices are available in the market, but the underprivileged regions cannot access them because of their higher cost and poor availability due to supply chain disruptions in rural areas. Such factors can adversely affect pain management market expansion.
Opportunity
Collaboration of technology and pain management devices
Technically advanced pain management devices, such as those incorporating AI and machine learning for personalized pain management, are new and the most anticipated things in recent days as technological advancement leads to higher functionality with impactful changes in the appearance of pain management devices. Every innovation in pain management devices makes it more efficient and result-oriented to reduce pain. Due to this, many organizations are developing more efficient pain management devices and investing whopping amounts to increase their sales in the market. This can further open a door for new entrance and their establishment. All such developments create opportunities in the pain management market and increase its turnover more prominently.
Market Segmentation
By Drug Class
By Indication
By Distribution Channel
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