Global Pain Management Therapeutics Market

Pain Management Therapeutics Market Size, Share, Growth Analysis, By Drug class(Opioids, NSAIDs, anticonvulsants, anesthetics), By Indication(Arthritic pain, chronic back pain, cancer pain, neuropathic pain), By Distribution channel(Online pharmacy, hospital pharmacy, and retail pharmacy), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35F2004 | Region: Global | Published Date: February, 2024
Pages: 276 |Tables: 94 |Figures: 76

Pain Management Therapeutics Market Insights

Pain Management Therapeutics Market size was valued at USD 75976 million in 2019 and is poised to grow from USD 78711.14 million in 2023 to USD 104451.39 million by 2031, growing at a CAGR of 3.6% in the forecast period (2024-2031).

Most physicians and other medical professionals provide some pain control in the course of their procedure, including more complex cases of pain, they seek additional assistance from pain medicine, a medical specialty devoted to pain. Pain management frequently employs a multidisciplinary approach to alleviate suffering and improve quality of life for anyone suffering from pain, whether acute or chronic. Analgesia (pain relief) in general is frequently an acute affair, whereas managing chronic pain necessitates additional dimensions. Furthermore, pain management therapeutics are becoming more popular as a result of their use in the treatment of a diverse range of medical conditions, such as fibromyalgia, neuropathic pain, chronic back pain, arthritic pain, post-operative pain, cancer pain, and migraine. However, the loss of power, influence, and funding by pain advocacy organisations is also predicted to slow market growth. Advocacy groups for pain management are losing their initial power and influence as a result of funding cuts from the government and sponsors, which would include pharmaceutical companies.

US Pain Management Therapeutics Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 75976 million

Largest Segment

online pharmacy

Fastest Growth

online pharmacy

Growth Rate

3.6% CAGR

Global Pain Management Therapeutics Market($Mn)
Country Share for North America Region (%)

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Pain Management Therapeutics Market Segmental Analysis

Global Pain Management Therapeutics Market is segmented based on the drug class, indication, distribution channel, and region. Based on drug class, pain management therapeutics market is segmented into opioids, NSAIDs, anticonvulsants, anesthetics, and others. Based on indication, the pain management therapeutics market is segmented into arthritic pain, chronic back pain, cancer pain, neuropathic pain, and others. Based on distribution channel, the Pain Management Therapeutics Market is segmented into online pharmacy, hospital pharmacy, and retail pharmacy. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Pain Management Therapeutics Market Analysis by Drug Class

Based on drug class, pain management therapeutics market is segmented into opioids, NSAIDs, anticonvulsants, anesthetics, and others. The opioids segment held the largest market share in 2021 and is expected to continue to lead the market during the analysis period due to the introduction of new products and high efficacy of opoids in relieving pain in major chronic conditions.

The NSAIDs segment is anticipated to expand at a significant rate throughout the forecast period due to an increase in the use of NSAIDs to manage mild to moderate pain with proven effectiveness and fewer side effects since the last few years.

Pain Management Therapeutics Market Analysis by Indication

Based on indication, the pain management therapeutics market is segmented into arthritic pain, chronic back pain, cancer pain, neuropathic pain, and others. Cancer pain represented the largest portion of the global pain management therapeutics market in 2021, and it is expected to grow further over the forecasting years due to rising cancer rates worldwide. The global rise in cancer prevalence is driving up demand for pain therapeutics for cancer pain management.

Because of the higher occurrence of chronic low back pain, the chronic back pain segment is expected to gain market share over the projected period.

Global Pain Management Therapeutics Market size by Distribution channel, 2023 (%)

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Pain Management Therapeutics Market Regional Insights

North America held the largest global pain management therapeutics market share in terms of revenue in 2021, followed by Europe and Asia Pacific, and is predicted to continue the lead during the forecast period. North American companies are heavily involved in research and development efforts for developing new pain management drugs, resulting in driving the global pain management therapeutics market.

Because of the large number of elderly people and better regulatory conditions. The increase in the number of drug abuse cases, coupled with the addictive nature of opioids, has resulted in a drop in opioid consumption for pain management in the region. Asia Pacific is expected to have the highest growth rate during the forecast period, owing to the region's relatively large population and increased healthcare expenditure.

Global Pain Management Therapeutics Market Size By Geography, 2024-2031
  • Largest
  • Fastest

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Pain Management Therapeutics Market Dynamics

Pain Management Therapeutics Market Driver

  • The growing cases of various diseases, in addition to the associated pain and aches, are contributing to the expansion of the pain management therapeutics market. Pain can be caused by a variety of conditions, including ulcers, osteoarthritis, chronic arthritis, multiple sclerosis, cancer, and diabetic neuropathy. Pain management therapeutics are effective in treating everything from short-term acute pain to long-term chronic pain. Global market growth is being stimulated by growing preference for pain management.

Pain Management Therapeutics Market Restraint 

  • Prescription drug abuse is predicted to restrict market growth. Taking prescription drugs in ways that are not prescribed by a doctor can be more dangerous than people realise. This drug abuse can have serious consequences for one's health and even lead to death.

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Pain Management Therapeutics Market Competitive Landscape

Global pain management therapeutics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Pain Management Therapeutics Market Top Player's Company Profiles  

  • Teva Pharmaceutical
  • AstraZeneca
  • Pfizer Inc.
  • Johnson & Johnson
  • Novartis AG
  • Abbott Laboratories
  • Eli Lilly and Company
  • GlaxoSmithKline plc
  • Merck & Co., Inc.
  • Endo Pharmaceuticals Inc.
  • Purdue Pharma L.P.
  • Bristol-Myers Squibb Company
  • Boehringer Ingelheim International GmbH
  • Sanofi S.A.
  • Mallinckrodt Pharmaceuticals
  • Mylan N.V.
  • AbbVie Inc.
  • Daiichi Sankyo Company, Limited
  • Mallinckrodt Pharmaceuticals
  • Zoetis Inc.

Pain Management Therapeutics Market Recent Developments

  • In November 2022, Abeona Therapeutics Inc. reports positive topline results with both co-primary endpoints met in the pivotal Phase 3 VIITALTM study of EB-101.
  • In July 2021, Venus Remedies Limited established a separate consumer healthcare subsidiary to provide advanced pain diagnostics and solutions.

Pain Management Therapeutics Key Market Trends

  • The emphasis is increasingly shifting toward personalised drugs, biologics, and quick-acting lifestyle medicines, which account for more than 70% of all medications in development.
  • The market's prominent competitors are concentrating on the approval and introduction of new products in order to expand their product offerings.

Pain Management Therapeutics Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global pain management therapeutics market analysis, during the analysis period, the global market will be influenced by rising initiatives by both government and private organisations around the world to raise consciousness about various types of cancer and options for treatment in the Asia Pacific region. The growing incidence of arthritis is predicted to boost the market's growth during the forecast period. However, excessive consumption of prescribed drugs like opioid abuse, and others as they take it lightly, don’t even care of the ultimate consequences, this is resulting in restricting the pain management therapeutics market globally.

Report Metric Details
Market size value in 2023 USD 75976 million
Market size value in 2031 USD 104451.39 million
Growth Rate 3.6%
Forecast period 2024-2031
Forecast Unit (Value) USD Million
Segments covered
  • Drug class
    • Opioids, NSAIDs, anticonvulsants, anesthetics, and others
  • Indication
    • Arthritic pain, chronic back pain, cancer pain, neuropathic pain, and others
  • Distribution channel
    • Online pharmacy, hospital pharmacy, and retail pharmacy
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
  • Teva Pharmaceutical
  • AstraZeneca
  • Pfizer Inc.
  • Johnson & Johnson
  • Novartis AG
  • Abbott Laboratories
  • Eli Lilly and Company
  • GlaxoSmithKline plc
  • Merck & Co., Inc.
  • Endo Pharmaceuticals Inc.
  • Purdue Pharma L.P.
  • Bristol-Myers Squibb Company
  • Boehringer Ingelheim International GmbH
  • Sanofi S.A.
  • Mallinckrodt Pharmaceuticals
  • Mylan N.V.
  • AbbVie Inc.
  • Daiichi Sankyo Company, Limited
  • Mallinckrodt Pharmaceuticals
  • Zoetis Inc.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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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 Pain Management Therapeutics 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
  • 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 Pain Management Therapeutics 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
  • 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
  • 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(%)

Methodology

For the Pain Management Therapeutics 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 Pain Management Therapeutics 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 Pain Management Therapeutics Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Pain Management Therapeutics 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.

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FAQs

Pain Management Therapeutics Market size was valued at USD 75976 million in 2019 and is poised to grow from USD 78711.14 million in 2023 to USD 104451.39 million by 2031, growing at a CAGR of 3.6% in the forecast period (2024-2031).

pain management therapeutics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Teva Pharmaceutical', 'AstraZeneca', 'Pfizer Inc.', 'Johnson & Johnson', 'Novartis AG', 'Abbott Laboratories', 'Eli Lilly and Company', 'GlaxoSmithKline plc', 'Merck & Co., Inc.', 'Endo Pharmaceuticals Inc.', 'Purdue Pharma L.P.', 'Bristol-Myers Squibb Company', 'Boehringer Ingelheim International GmbH', 'Sanofi S.A.', 'Mallinckrodt Pharmaceuticals', 'Mylan N.V.', 'AbbVie Inc.', 'Daiichi Sankyo Company, Limited', 'Mallinckrodt Pharmaceuticals', 'Zoetis Inc.'

The growing cases of various diseases, in addition to the associated pain and aches, are contributing to the expansion of the pain management therapeutics market. Pain can be caused by a variety of conditions, including ulcers, osteoarthritis, chronic arthritis, multiple sclerosis, cancer, and diabetic neuropathy. Pain management therapeutics are effective in treating everything from short-term acute pain to long-term chronic pain. market growth is being stimulated by growing preference for pain management.

The emphasis is increasingly shifting toward personalised drugs, biologics, and quick-acting lifestyle medicines, which account for more than 70% of all medications in development.

North America held the largest pain management therapeutics market share in terms of revenue in 2021, followed by Europe and Asia Pacific, and is predicted to continue the lead during the forecast period. North American companies are heavily involved in research and development efforts for developing new pain management drugs, resulting in driving the pain management therapeutics market.

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