LONDON, United Kingdom, Jan. 31, 2023 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Pain Management Therapeutics Market By Drug Class (Anesthetics, Anticonvulsant, NSAIDs, Anti-Migraine Drugs, Opioids, Antidepressant Drugs, Non-Narcotics, and Analgesics), By Indication (Cancer Pain, Arthritic Pain, Acute Appendicitis, Neuropathic Pain, Chronic Pain, Post-Operative Pain, Fibromyalgia, Migraine, Bone Fracture, Muscle Sprain/Strain, and Others), By Pain Type (Chronic Pain and Acute Pain), and By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2023 – 2026” in its research database.
“According to the latest research study, the demand of global Pain Management Therapeutics Market size & share was valued at approximately USD 72,065.3 Million in 2020. The market is likely to grow at a Compound Annual Growth Rate (CAGR) of 4.8% and is anticipated to reach around USD 90,501.8 Million by 2026.”
Report Overview:
Pain is a disturbing sensory and emotional sensation, which results from tissue damage or disease. Additionally, various disorders can cause discomforts such as osteoarthritis, cancer, multiple sclerosis, stomach ulcer, diabetic neuropathy, fibromyalgia, and chronic arthritis. The length of pain ranges from acute pain intended for the short term to chronic pain intended for the long term. Chronic pain is caused because of aged bone & joint conditions, injury, or nerve damage. Different drugs are utilized to manage pain, which results from inflammation in response to tissue damage, chemical agents/pathogens, or nerve damage.
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Market Growth Dynamics
Growth Factors:
- Increasing Rate of Chronic Diseases
The global pain management therapeutics market is driven by major factors such as the rising rate of chronic diseases such as diabetic neuropathy, osteoarthritis, and cancer and the growing elderly population.
- Rising Adoption of Opioids for Neuropathic Pain Management
Furthermore, several government initiatives to offer palliative care in low-income nations for efficient treatment of patients with debilitating cancer pain are growing the need for opioids as pain medication in such countries. Therefore, the rising adoption of opioids for neuropathic pain management is expected to augment the growth of the market. Additionally, the rise of surgical procedures along with the increase in healthcare expenses will boost the overall market in the future.
Restraining Factors:
- Availability of Alternatives like pain relief devices and drugs
On the other hand, restraining factors like drug exploitation, the availability of alternatives like pain relief devices, and the patent expiration of prescription pain medication drugs might hinder the growth of the market during the forecast period.
Key Players of the Industry
- Pfizer Inc.
- Novartis AG
- Johnson & Johnson Services Inc.
- WEX Pharmaceuticals
- Abbott Laboratories
- Zynerba Pharmaceuticals
- Bristol-Myers Squibb Company
- Endo Health Solutions Inc.
- Sanofi S.A
- Boehringer Ingelheim
- GlaxoSmithKline plc
- Sorrento Therapeutics
- Eli Lilly and Company
- Valeant Pharmaceuticals International Inc.
- Purdue Pharma L.P.
- Teva Pharmaceutical Industries Ltd
- Merck & Co. Inc.
- Baxter International Inc.
- Allergen Inc.
- Mylan NV
The following questions have been answered in this report:
- What is the size of the pain management therapeutics market and what is its expected growth rate?
- What are the main driving factors propelling the Pain Management Therapeutics Market forward?
- What are the leading companies in the Pain Management Therapeutics Industry?
- What segments does the Pain Management Therapeutics Market cover?
- How can I receive a free copy of the Pain Management Therapeutics Market sample report and company profiles?
Key Offerings:
- Market Size, Share, & Forecast by Revenue | 2023−2026
- Market Dynamics – Key Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Drug Class, by Indication, by Pain Type, by Distribution Channel, and by Region
- Competitive Landscape – Leading Key Players and Other Prominent Players
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Report Scope
| Report Attribute | Details |
| Market Size in 2020 | USD 72,065.3 Million |
| Projected Market Size in 2026 | USD 90,501.8 Million |
| CAGR Growth Rate | 4.8% CAGR |
| Base Year | 2020 |
| Forecast Years | 2023-2026 |
| Key Market Players | Pfizer Inc., Novartis AG, Johnson & Johnson Services Inc., WEX Pharmaceuticals, Abbott Laboratories, Zynerba Pharmaceuticals, Bristol-Myers Squibb Company, Endo Health Solutions Inc., Sanofi S.A, Boehringer Ingelheim, GlaxoSmithKline plc, Sorrento Therapeutics, Eli Lilly and Company, Valeant Pharmaceuticals International Inc., and Purdue Pharma L.P., among others |
| Key Segment | By Drug Class, By Indication, By Pain Type, By Distribution Channel, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Segmentation Analysis
The global pain management therapeutics market can be segmented into drug class, indication, pain type, and distribution channel.
Based on the drug class, the global pain management therapeutics market can be classified into anesthetics, anticonvulsants, NSAIDs, anti-migraine drugs, opioids, antidepressant drugs, non-narcotics, and analgesics. In terms of indication, the global pain management therapeutics market can be divided into cancer pain, arthritic pain, acute appendicitis, neuropathic pain, chronic pain, post-operative pain, fibromyalgia, migraine, bone fracture, muscle sprain/strain, and others.
On the basis of type of pain, the global pain management therapeutics market can be bifurcated into chronic pain and acute pain. Based on the distribution channel, the global pain management therapeutics market can be segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
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Regional Analysis
The global pain management therapeutics market is classified into five major regional segments North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
- North America is Likely to Dominate Global Market during the Forecast Timeframe
North America is the leading market in the global pain management therapeutics market and is likely to remain dominant over the analysis period. The high growth in this regional market can be attributed to the rising number of geriatric population, the increasing adoption of neuropathic pain therapeutics for the treatment, and the favorable regulatory conditions.
- Asia-Pacific Region is projected to the fastest growth rate over the anticipated period
The Asia-Pacific pain management therapeutics market is projected to observe the fastest growth rate during the estimated years. The increasing healthcare costs, the mounting awareness related to neuropathic pain management, and the presence of a large patient pool are responsible for the high market growth of the region.
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Browse the full “Pain Management Therapeutics Market By Drug Class (Anesthetics, Anticonvulsant, NSAIDs, Anti-Migraine Drugs, Opioids, Antidepressant Drugs, Non-Narcotics, and Analgesics), By Indication (Cancer Pain, Arthritic Pain, Acute Appendicitis, Neuropathic Pain, Chronic Pain, Post-Operative Pain, Fibromyalgia, Migraine, Bone Fracture, Muscle Sprain/Strain, and Others), By Pain Type (Chronic Pain and Acute Pain), and By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2023 – 2026” report at https://www.fnfresearch.com/pain-management-therapeutics-market
This report segments the global pain management therapeutics market as follows:
By Drug Class
- Anesthetics
- Anticonvulsant
- NSAIDs
- Anti-Migraine Drugs
- Opioids
- Antidepressant Drugs
- Non-Narcotics
- Analgesics
By Indication
- Cancer Pain
- Arthritic Pain
- Acute Appendicitis
- Neuropathic Pain
- Chronic Pain
- Post-Operative Pain
- Fibromyalgia
- Migraine
- Bone Fracture
- Muscle Sprain/Strain
- Other Indications
By Pain Type
- Chronic Pain
- Acute Pain
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
Key Insights from Primary Research
- The pain management therapeutics market is likely to grow at a CAGR of 4.8% by 2026.
- Through the primary research, it was established that the pain management therapeutics market was valued at around USD 72,065.3 Million in 2020.
- The global market is expected to generate revenue of around USD 90,501.8 Million by the end of 2026.
- Based on geography, the “North America” region is expected to control the global market during the Forecast Timeframe.
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