The pain management drugs global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pain Management Drugs Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Pain Management Drugs Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pain Management Drugs Market Overview
Market Drivers –
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.
Market Trends –
Technological advancement is the key trend gaining popularity in the pain management drugs market. Major companies operating in the pain management drugs market are focusing on developing new technologies. For instance, in November 2021, AppliedVR, Inc., a US-based company that offers virtual reality therapeutics, launched EaseVRx, a prescription-only immersive virtual reality (VR) system that helps patients with chronic lower back pain, who are 18 years of age and older, reduce their pain by utilizing cognitive behavioural therapy and other behavioural techniques. The unique feature of EaseVRx is its use of CBT and other behavioural treatment techniques to reduce pain and pain interference. The EaseVRx treatment program consists of 56 VR sessions that range in length from 2 to 16 minutes and are designed to be used daily for eight weeks of treatment. A skills-based treatment program is used in the device’s VR software, which applies well-established behavioural therapy principles to alleviate the physiological symptoms of pain.
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
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Regional Insights –
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
Key Companies –
Major companies operating in the pain management drugs market report are Novartis AG, Eli Lilly And Company, Abbott Laboratories, Endo International plc, Purdue Pharma L.P., Pfizer Inc., Merck & Co. Inc., Johnson & Johnson Services Inc., GlaxoSmithKline plc, AbbVie Inc., Bristol-Myers Squibb Company, Teva Pharmaceutical Industries Ltd., AstraZeneca plc, Mylan N.V., Bausch Health Companies Inc., Becton Dickinson and Company, Boston Scientific Corporation, Baxter International Inc., Sanofi, Medtronic PLC, F. Hoffmann-La Roche Ltd., Boehringer Ingelheim, Mallinckrodt Pharmaceuticals, Allergan, Daiichi Sankyo Company Limited, Grünenthal GmbH, Mundipharma International Limited, Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Zydus Cadila, Lupin Pharmaceuticals Inc., Torrent Pharmaceuticals Ltd. .
Table of Contents
1. Executive Summary
2. Pain Management Drugs Market Report Structure
3. Pain Management Drugs Market Trends And Strategies
4. Pain Management Drugs Market – Macro Economic Scenario
5. Pain Management Drugs Market Size And Growth
…..
27. Pain Management Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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