Pain Management Drugs Market Share Expand To US$ 89.2 Billion By Top Manufacturers, Latest Technologies, Segments Overview, Future Trends, Growth Opportunity And Forthcoming Developments
SEATTLE, March 31, 2021, (PHARMIWEB) — Global Pain Management Drugs Market – Insights
Pain management, pain medications or pain control is a branch of medicine where interdisciplinary approach is employed for easing the suffering and enhance the quality of life for those who are living with chronic pain. The pain management medications are special class of drug, which have pharmacological actions on pain receptors and work against the pain symptoms. These medications include opioids, non-steroidal anti-inflammatory drugs (NSAIDs), anticonvulsants, antidepressants, muscle relaxants, and others. These medications can be used for pain management of conditions, as indicated on label though some medications have off-label uses. For instance, anticonvulsants and antidepressants were originally used for the management of epilepsy and depression respectively. However, these medications have shown activity against pain indications and are prescribed for pain management as off-label indication. Moreover, opioids are majorly prescribed for the management of acute as well as chronic pain. This has also resulted in self-medication by patients, resulting in misuse or overdose of opioid containing drug products. Moreover, majority of the drugs have lost patent protection over the years and generic versions of the same are widely available in the market. Commercially available pain management drugs include Fentanyl, Hydromorphone, Oxycodone, Aspirin, Diazepam, and others.
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Market Dynamics- Drivers
Lack of alternative treatment therapies are projected to drive growth of pain management drugs market over the forecast period
The global pain management market is expected to witness is significant growth during the forecast period, owing to lack of alternative treatment therapies. Major companies in the market are involved in various growth strategies such as mergers and acquisitions, in order to gain competitive edge in the market, which will the drive the market growth in the future. For instance, in 2015, Depomed, Inc. acquired the U.S. rights to NUCYNTA (tapentadol), NUCYNTA ER (tapentadol) extended release tablets, and NUCYNTA (tapentadol) oral solution from Janssen Pharmaceuticals, Inc. Tapentadol is available in tablet, solution, and extended release forms. Furthermore, the tablet and solution forms of NUCYNTA has three patents, out of which one expired in June 2017 and other two will expire in June 2025 and August 2029, respectively. Moreover, patent expiry of pain management drugs such as Oxycontin, Opana, Celebrex (2013 – 2014), and others are providing opportunity to market players for introducing new products in the pain management drugs market.
Moreover, increasing launch of novel drug delivery systems such as prefilled syringes and injectable dosage offered by manufacturers such as Pfizer, Inc., are expected to boost the market growth over the forecast period. Manufacturers offer wide range of products, which include generic as well as branded products in capsules and tablet forms. Moreover, some of the drugs are cost-effective alternative as compared to the pain therapies such as invasive approach and physiotherapy. These factors are further expected to boost the market growth over the forecast period.
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The global pain management drugs market was valued at US$ 63,212.3 Mn in 2017 and is expected to witness a robust CAGR of 3.9% over the forecast period (2018 – 2026).
Figure 1. Global Pain Management Drugs Market Value (US$ Mn), by Region, 2018 and 2026
High prevalence of chronic pain diseases is expected to foster the growth of pain management drugs market over the forecast period
Growing prevalence of chronic pain disease is expected to drive the market growth in the near future. According to the American Academy of Pain Medicine, in 2011, around 1.8 billion people suffered from chronic pain. Moreover, the National Institutes of Health (NIH) estimates that one in 10 people in the U.S. suffer from chronic pain. According to a study published in the British Medical Journal in 2016, nearly one-third to half of the population in the U.K. suffers from chronic pain. Moreover, according to the NIH estimates published in 2015 by the American Pain Society, around 50 million people in the U.S. suffered from chronic pain. Moreover, rising prevalence of pain and increasing prevalence of diseases such as cancer and others are driving growth of the pain management drugs market. For instance, according to the National Cancer Institute, in 2018, around 1,735,350 new cases of cancer are expected to be diagnosed in the U.S. and 609,640 people are expected to die from the disease.
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Market Dynamics- Restraints
However, side effects regarding the pain management drugs and addiction issues with the opioid medications are expected to restrain growth of the global pain management drugs market over the forecast period.
Competitive Landscape
Key companies operating in the global pain management drugs market include Pfizer, Inc., Sanofi S.A., Mylan N.V., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Abbott Laboratories, Purdue Pharma L.P., GlaxoSmithKline Plc, Johnson & Johnson, and F. Hoffmann La Roche Ltd.
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Drug Class
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- PEST Analysis
- PORTER’s Analysis
- Regulatory Scenario
- Market Dynamics
- Global Pain Management Drugs Market, By Drug Class, 2016–2026 (US$ Mn)
- Introduction
- Market Share Analysis, 2017 and 2026 (%)
- Y-o-Y Growth Analysis, 2017–2026
- Segment Trends
- Opioids
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Mn)
- NSAIDs
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Mn)
- Anticonvulsants
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Mn)
- Antidepressants
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Mn)
- Muscle Relaxants
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Mn)
- Introduction
- Global Pain Management Drugs Market, By Distribution Channel, 2016–2026 (US$ Mn)
- Introduction
- Market Share Analysis, 2017 and 2026 (%)
- Y-o-Y Growth Analysis, 2016–2026
- Segment Trends
- Hospital Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Mn)
- Retail Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Mn)
- Online Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Mn)
- Introduction
- Global Pain Management Drugs Market, By Regions, 2016–2026 (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2017 and 2026 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2026
- North America
- Market Size and Forecast, By Drug Class, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2026 (US$ Mn)
- U.S.
- Canada
- Europe
- Market Size and Forecast, By Drug Class, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2026 (US$ Mn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Drug Class, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2026 (US$ Mn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of APAC
- Latin America
- Market Size and Forecast, By Drug Class, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2026 (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Africa
- Market Size and Forecast, By Drug Class, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2026 (US$ Mn)
- Central Africa
- South Africa
- North Africa
- Middle East
- Market Size and Forecast, By Drug Class, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016–2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2026 (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Introduction
- Competitive Landscape
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
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