USD 72.1 Billion
Global Pain Management Market Size, Share, Growth Analysis, By Application(Neuropathic pain, cancer pain), By Distribution Channel(Online pharmacy, retail pharmacy) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2271 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
65 |
Figures:
75
Global Pain Management Market Insights
Pain Management Market size was valued at USD 72.1 Billion in 2021 and is poised to grow from USD 75.20 Billion in 2022 to USD 105.32 Billion by 2030, at a CAGR of 4.3% during the forecast period (2023-2030).
The global pain management market has witnessed significant growth in recent years as the prevalence of chronic pain conditions continues to rise and the demand for effective pain relief solutions increases. One of the key drivers of growth in the global pain management market is the growing prevalence of chronic pain conditions, such as arthritis, cancer pain, neuropathic pain, and musculoskeletal disorders. Chronic pain affects a substantial portion of the global population and has a significant impact on individuals' daily lives, leading to a surge in the demand for pain management treatments and therapies. Furthermore, advancements in pain management technologies and treatments have contributed to market growth. The development of novel pharmaceuticals, medical devices, and minimally invasive procedures has provided healthcare professionals with a broader range of options to address pain effectively. Additionally, the integration of advanced technologies, such as neuromodulation techniques and targeted drug delivery systems, has improved the precision and effectiveness of pain management interventions. Despite the positive growth trajectory, the global pain management market also faces several challenges. One of the primary challenges is the increasing concern over opioid abuse and addiction, which has led to stricter regulations and a shift toward non-opioid alternatives for pain management. Balancing the need for effective pain relief with the potential risks of opioid medications poses a challenge for healthcare providers and pharmaceutical companies. Moreover, the high cost of pain management treatments and therapies can limit access for certain patient populations. Cost constraints, coupled with varying reimbursement policies, can create disparities in pain management access and affordability, particularly in developing regions. Additionally, the complex nature of pain and individual patient responses presents challenges in developing personalised and optimised pain management approaches. Pain is a subjective experience, and finding the right treatment plan for each patient requires a comprehensive understanding of their unique circumstances and medical history.
US Pain Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Retail
Fastest Growth
Retail
Growth Rate
4.3% CAGR
Global Pain Management Market ($ Bn)
Country Share for North America Region (%)
Global Pain Management Market By Distribution Channel ($ Bn)
Global Pain Management Market By Distribution Channel (%)
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Global Pain Management Market Segmental Analysis
The global pain management market is segmented on the basis of application, distribution channel, and region. By application, the market is segmented into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and other applications. By distribution channel, the market is segmented into online pharmacy, retail pharmacy, and hospital pharmacy. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Pain Management Market Analysis By Application
The global pain management market can be segmented by application into several categories, including neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and other applications. Among these, neuropathic pain stands as the dominant segment in terms of market share and revenue.
Neuropathic pain, characterised by nerve damage or dysfunction, is a prevalent and challenging condition to manage. Conditions such as diabetic neuropathy, postherpetic neuralgia, and trigeminal neuralgia contribute to the significant burden of neuropathic pain. The growing prevalence of diabetes and other chronic diseases, coupled with an aging population, has led to a higher incidence of neuropathic pain. Consequently, there is a substantial demand for effective pain management solutions, driving the dominance of the neuropathic pain segment.
On the other hand, the fastest-growing segment in the global pain management market is cancer pain. The rising prevalence of cancer worldwide and the increasing focus on improving the quality of life for cancer patients have driven the demand for efficient cancer pain management solutions. Cancer pain can be acute or chronic, resulting from the disease itself or the side effects of treatment. The integration of various pain management approaches, including pharmacological, interventional, and palliative care, has contributed to the growth of the cancer pain segment. The continuous advancements in cancer therapies and the growing emphasis on personalised medicine further propel the demand for effective pain management in cancer patients.
Pain Management Market Analysis By Distribution Channel
The global pain management market can be segmented by distribution channel into three categories: online pharmacy, retail pharmacy, and hospital pharmacy. Among these, the dominant segment in terms of market share and accessibility is the retail pharmacy channel. Retail pharmacies, including independent pharmacies and chain stores, play a crucial role in the distribution of pain management products to consumers. They offer convenience, proximity, and accessibility for patients seeking over-the-counter pain medications, topical creams, and other pain relief products. Retail pharmacies are widely available in local communities and serve as the primary point of contact for individuals seeking pain management solutions. The dominance of the retail pharmacy channel can be attributed to its widespread presence, ease of access, and the convenience it offers to patients.
The fastest-growing segment in the global pain management market is the online pharmacy channel. The advent of e-commerce and the increasing preference for online shopping have influenced the pharmaceutical industry, including pain management products. Online pharmacies provide patients with the convenience of ordering pain relief medications and products from the comfort of their homes, eliminating the need for physical visits to a pharmacy. The online pharmacy channel offers a wide range of pain management options, including prescription medications and over-the-counter products, and allows for easy comparison of prices and availability. The growth of the online pharmacy segment is driven by factors such as the expanding e-commerce market, technological advancements, and the convenience it offers to patients, especially in regions with limited access to physical pharmacies.
Global Pain Management Market By Distribution Channel, 2023 (%)
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Global Pain Management Market Regional Insights
North America dominates the global pain management market due to factors such as the high prevalence of chronic pain conditions, well-established healthcare infrastructure, and significant investments in healthcare research and development. The region's advanced healthcare systems, coupled with a strong focus on pain management and patient-centric care, contribute to its market dominance. Additionally, the presence of key market players, technological advancements, and favourable reimbursement policies further solidify North America's position as the dominant market for pain management.
On the other hand, the Asia Pacific region is the fastest-growing market for pain management. The region's population is experiencing an increasing incidence of chronic pain conditions, driven by factors such as the ageing population, changing lifestyles, and rising healthcare awareness. The growing adoption of advanced healthcare technologies, expansion of healthcare infrastructure, and rising healthcare expenditures are propelling the demand for pain management solutions in the region. Furthermore, improving accessibility to healthcare services, increasing healthcare insurance coverage, and government initiatives to improve healthcare systems are fostering the growth of the pain management market in the Asia Pacific region.
Global Pain Management Market By Region, 2024-2031
- Largest
- Fastest
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Global Pain Management Market Dynamics
Pain Management Market Drivers
Increasing Awareness and Focus on Pain Management
- There is a growing awareness and recognition of the impact of pain on individuals' quality of life. Healthcare providers, patients, and policymakers are placing a greater emphasis on pain management, leading to increased efforts in research, education, and improving access to effective pain relief. The focus on patient-centric care and improved pain management outcomes drives the market forward.
Rising Geriatric Population
- The aging population is a significant driver for the pain management market. Older adults are more prone to chronic pain conditions, such as osteoarthritis and neuropathic pain. With the global aging trend, the demand for pain management solutions is increasing, as older individuals seek effective pain relief to maintain their quality of life and functional independence.
Pain Management Market Restraints
High Cost of Pain Management Treatments
- The cost of pain management treatments, especially advanced procedures and devices, can be a restraint on market growth. Expensive medications, surgical interventions, and specialised therapies may limit access for certain patient populations, particularly in low-income regions or countries with limited healthcare resources.
Regulatory and Reimbursement Challenges
- The pain management market is subject to regulatory requirements and reimbursement challenges, which can impact market growth. The regulatory landscape, including restrictions on opioid prescribing and regulations surrounding medical devices, can influence the availability and accessibility of pain management options. Reimbursement policies and limitations may also affect the adoption and utilisation of certain pain management therapies.
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Global Pain Management Market Competitive Landscape
The global pain management market features a highly competitive landscape with numerous players operating in the industry. The market is characterised by the presence of multinational pharmaceutical companies, medical device manufacturers, specialised pain management clinics, and research institutions. These players compete based on factors such as product innovation, efficacy, safety, pricing strategies, and market presence. Intense competition drives companies in the pain management market to invest in research and development activities to develop novel pharmaceuticals, medical devices, and therapeutic approaches for pain relief. Continuous innovation and advancements in pain management technologies are crucial for companies to gain a competitive edge and meet the evolving needs of patients. Market players also focus on strategic partnerships, collaborations, and acquisitions to expand their product portfolios, access new markets, and leverage complementary expertise. Collaborations between pharmaceutical companies and medical device manufacturers, for example, facilitate the development of integrated pain management solutions and combination therapies.
Furthermore, companies in the pain management market prioritise market access and distribution networks to ensure their products reach healthcare professionals and patients effectively. Establishing partnerships with healthcare providers, pharmacies, and distributors is crucial for market penetration and increasing product availability. Moreover, companies invest in marketing and promotional activities to raise awareness about their pain management products and differentiate themselves from competitors. Building strong brand recognition and maintaining a positive reputation are essential for market success.
Pain Management Market Top Player’s Company Profile
- Johnson & Johnson - US
- Pfizer Inc. - US
- Novartis International AG - Switzerland
- Eli Lilly and Company - US
- GlaxoSmithKline PLC - United Kingdom
- AbbVie Inc. - US
- AstraZeneca PLC - United Kingdom
- Bayer AG - Germany
- Merck & Co., Inc. - US
- Teva Pharmaceutical Industries Ltd. - Israel
- Sanofi S.A. - France
- Bristol Myers Squibb Company - US
- Medtronic PLC - Ireland
- Abbott Laboratories - US
- Boston Scientific Corporation - US
- St. Jude Medical, Inc. (Abbott) - US
- Stryker Corporation - US
- Cardinal Health, Inc. - US
- Halyard Health (O&M Halyard) - US
- Mallinckrodt Pharmaceuticals - US
Pain Management Market Recent Developments
- In January 2023, The FDA approved the first non-opioid drug for chronic pain, called Prialt. Prialt is a long-acting injectable drug that works by blocking pain signals in the brain.
- In February 2023, The FDA approved a new type of spinal cord stimulator for chronic pain, called the Senza. The Senza is a wireless spinal cord stimulator that is implanted under the skin.
Global Pain Management Key Market Trends
- Rising Focus on Multimodal and Individualised Approaches: There is a growing trend towards adopting multimodal pain management approaches that combine various therapies and interventions to address pain from multiple angles. This includes a combination of pharmacological treatments, non-pharmacological therapies, physical therapy, psychological interventions, and lifestyle modifications. Additionally, there is an increasing emphasis on individualised pain management plans tailored to each patient's specific needs, considering factors such as the underlying cause of pain, comorbidities, and patient preferences.
- Increasing Adoption of Minimally Invasive Procedures: Minimally invasive procedures for pain management, such as nerve blocks, radiofrequency ablation, and spinal cord stimulation, are gaining popularity. These procedures offer targeted pain relief with reduced invasiveness, shorter recovery times, and potentially fewer side effects compared to traditional surgical interventions. The advancements in medical technology and the growing expertise of healthcare professionals contribute to the wider adoption of minimally invasive procedures in pain management.
Global Pain Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global pain management market analysis, North America dominates the global pain management market due to its well-established healthcare infrastructure and focus on pain management. The Asia Pacific region is the fastest-growing market, driven by factors such as the rising prevalence of chronic pain conditions and improving healthcare systems. The global pain management market is witnessing significant growth and transformation due to various factors. The rising prevalence of chronic pain conditions, coupled with increasing awareness and focus on pain management, has driven the demand for effective pain relief solutions. Technological advancements in pain management, such as minimally invasive procedures and digital health technologies, are reshaping the landscape of pain management approaches.
The market is experiencing a shift towards multimodal and individualised approaches that combine different therapies to address pain comprehensively. The growing emphasis on non-opioid alternatives, integration of artificial intelligence and data analytics, and the focus on evidence-based practice are further shaping the market. Patient-centric care and shared decision-making are gaining prominence, empowering patients to actively participate in their pain management journey. However, challenges such as safety concerns, regulatory complexities, and limited access to pain management in certain regions persist. Overcoming these challenges and leveraging the emerging trends will be crucial for market players to provide innovative, personalised, and effective pain management solutions to improve patient outcomes and enhance quality of life for individuals suffering from pain.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 72.1 Billion |
| Market size value in 2031 | USD 105.32 Billion |
| Growth Rate | 4.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Pain Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Pain Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Pain Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Pain Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Pain Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Pain Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Pain Management Market Report Snapshots
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