Overview and Scope
A pain management drug refers to medication that reduces pain. They produce analgesia by actions at several levels of the nervous system such as, inhibition of neurotransmitter release from the primary afferent terminals in the spinal cord and activation of descending inhibitory controls in the midbrain.
Sizing and Forecast
The pain management drugs market size has grown strongly in recent years. It will grow from $76.76 billion in 2023 to $81.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to rising chronic pain cases, rise in cancer cases, increased surgical procedures, improved pain assessment, government initiatives..
The pain management drugs market size is expected to see strong growth in the next few years. It will grow to $100.94 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to non-opioid alternatives, targeted therapies, precision medicine approaches, psychological interventions, focus on minimizing side effects.. Major trends in the forecast period include value-based care models, expanded access programs, combination therapies, innovative formulations, biosimilar pain drugs..
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Segmentation & Regional Insights
The pain management drugs market covered in this report is segmented –
1) By Drug Class: Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Anesthetics, Anticonvulsants, Anti-migraine Agents, Antidepressants, Opioids, Nonnarcotic Analgesics
2) By Indication: Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Back Pain, Postoperative Pain, Migraine, Fibromyalgia, Muscle sprain/strain, Bone fracture, Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
North America was the largest region in the pain management drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the pain management drug market report during the forecast period. The regions covered in the pain management drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increasing rate of surgeries is expected to propel the growth of the pain management drugs market going forward. A surgical procedure refers to a medical intervention that involves the cutting or penetration of the body’s tissues to treat diseases, conditions, or injuries, or to alter bodily functions or improve appearance. Pain management drugs play a crucial role in surgeries by helping to control and alleviate post-operative pain, which can significantly improve patient comfort and recovery. For instance, according to the Aesthetic Society, in 2021, surgical procedures experienced a significant increase of 54% compared to 2020, while non-surgical procedures saw a rise of 44%. Therefore, an increasing rate of surgeries is driving the pain management drugs market.
Key Industry Players
Major companies operating in the pain management drugs market are developing drugs and receiving FDA approval to meet the needs of patients experiencing acute or chronic pain. FDA approval is the regulatory endorsement granted by the U.S. Food and Drug Administration, signifying that a medical product meets the necessary safety and efficacy standards for commercial distribution in the United States. For instance, in October 2023, Hyloris Pharmaceuticals, a Belgium-based pharmaceutical company received U.S. FDA approval for Maxigesic IV. Maxigesic IV is the first non-opioid painkiller to be approved by the FDA in more than 20 years. Maxigesic IV is a non-opioid intravenous painkiller that combines paracetamol and ibuprofen, which provides a dual-action mechanism for pain relief. The approval of Maxigesic IV represents a significant advancement in the pain management drugs market, offering a new non-opioid treatment option for post-operative pain relief.
The pain management drugs market report table of contents includes:
1. Executive Summary
2. Pain Management Drugs Market Characteristics
3. Pain Management Drugs Market Trends And Strategies
4. Pain Management Drugs Market – Macro Economic Scenario
5. Global Pain Management Drugs Market Size and Growth
…..
32. Global Pain Management Drugs Market Competitive Benchmarking
33. Global Pain Management Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pain Management Drugs Market
35. Pain Management Drugs Market Future Outlook and Potential Analysis
36. Appendix
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