Rising Prevalence of Cancer-Related Pain Fuels Demand for Non-Addictive Medications: Cancer Pain Management Market Analysis 2023-2030 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Cancer Pain Management Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Cancer Pain Management Market is expected to reach over US$ 7.80 Billion by 2030, driven by the rising prevalence of cancer-related pain and the growing number of long-term cancer survivors worldwide.

Cancer pain is a common and distressing symptom experienced by individuals undergoing cancer treatment and survivors, and it can result from the disease itself or its treatments. The market is expected to expand at a CAGR of 5.25% during the forecast period 2022 to 2030.

The increasing incidence of cancer-related pain, coupled with the impact of the opioid epidemic on chronic pain management, has spurred efforts to develop new non-addictive pain medications and non-drug therapies. This growing demand for pain management medications has resulted in their widespread acceptance and consumption over other therapeutic options.

To meet the demand for more effective pain management, the industry is actively exploring the use of the network model for research and development, with a focus on personalized drugs, biologics, and quick-dose lifestyle medicines. Over 70% of medications currently in development fall under these categories. Manufacturers are also shifting away from chemical-based drugs toward biologic-based therapeutics, and administrative reforms are facilitating the development of novel pain management medications. In 2022, the Cancer Pain Management Market was valued at US$ 5.18 Billion.

The fastest-growing segment in the Cancer Pain Management Industry is Targeted Therapies. These medications are designed to target specific molecular pathways involved in the growth and spread of cancer cells. They can reduce tumor size and slow down tumor growth while sparing normal cells from damage. Targeted therapies may be used alone or in combination with other treatments to manage pain associated with cancer.

Opioids remain the foremost market stake in 2023, being a category of medications widely used for managing pain in cancer patients. Opioids work by binding to receptors in the brain and spinal cord to alleviate pain. Although effective, opioids carry potential risks and side effects, requiring careful personalized management in each patient's unique situation.

The Disease Indication segment reveals that Lung Cancer is projected to dominate the Pain Management Market Revenue throughout the forecast period. The prevalence of lung cancer and the availability of effective cancer pain analgesics contribute to its leading position. However, the breast cancer segment is expected to experience significant growth due to the increasing prevalence of breast cancer and the greater adoption of pain analgesics in breast cancer treatment.

The United States is estimated to have the largest market share for the Cancer Pain Management Market among the 10 major markets, including the United Kingdom, Japan, France, Germany, Italy, Spain, Saudi Arabia, China, and Korea. The U.S. market is driven by factors such as high cancer incidence, increased awareness of pain management, access to advanced medical technologies, and supportive healthcare infrastructure.

Key Players in the Cancer Pain Management Market include Daiichi Sankyo Co., Ltd., Hisamitsu Pharmaceutical Co., Inc., Orexo AB, Pfizer Inc, Teva Pharmaceutical Industries Limited, Sanofi, Johnson & Johnson, and Eli Lilly.

The Cancer Pain Management Market Report offers a detailed analysis of the industry, covering various treatment options, drug types, disease indications, and countries. It provides insights into market dynamics, growth drivers, challenges, SWOT analysis, and Porter's Five Forces. Additionally, the report presents epidemiological data and patient population for cancer pain, along with market share analysis and emerging therapies. It also includes comprehensive company profiles and financial insights for key players in the market.

Companies Mentioned

• Daiichi Sankyo Co., Ltd.
• Hisamitsu Pharmaceutical Co., Inc.
• Orexo AB
• Pfizer Inc
• Teva Pharmaceutical Industries Limited
• Sanofi
• Johnson & Johnson
• Eli Lilly

For more information about this report visit https://www.researchandmarkets.com/r/7stdly

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