Allied Market Research United States of America United Kingdom

Pain Management Drugs Market to Reach $109.6 Billion, Globally, by 2033 at 4.2% CAGR: Allied Market Research

by Drug Class (NSAIDs, Anesthetics, Anticonvulsants, Anti-migraine Agents, Antidepressants, Opioids and Nonnarcotic Analgesics), Indication (Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Back Pain, Postoperative Pain, Migraine, Fibromyalgia, Muscle Sprain/Strain, Bone Fracture, Acute Appendicitis, and Others) and Pain Type (Chronic Pain and Acute Pain): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the pain management drugs market was valued at $72.6 billion in 2023, and is estimated to reach $109.6 billion by 2033, growing at a CAGR of 4.2% from 2024 to 2033.

Request Sample of the Report on Pain Management Drugs Market Forecast 2033 - https://www.alliedmarketresearch.com/request-sample/404 

Prime determinants of growth 

Rise in incidences of chronic diseases, favorable regulatory scenario, and increase in geriatric population are the major factors that drive the growth of the pain management drugs market. However, availability of alternative therapies and patent expiration of prescription drugs restricts the market growth. Moreover, advancements in drug development and untapped markets in developing economies offer remunerative opportunities for the expansion of the global pain management drugs market. 

Report coverage & details

Report Coverage 

Details 

Forecast Period 

2024–2033

Base Year 

2023

Market Size In 2023 

$72.6 Billion 

Market Size In 2033 

$109. Billion 6

CAGR 

3.9 %

No. Of Pages in Report 

216

Segments Covered 

Drug Class, Indication, Pain Type, And Region. 

Drivers 

Rise In Incidences Of Chronic Diseases 

Favorable Regulatory Scenario 

Increase In Geriatric Population 

Opportunities

Advancements In Drug Development 

Untapped Markets In Developing Economies 

Restraints

Availability Of Alternative Therapies 

Patent Expiration Of Prescription Drugs 

Segment Highlights 

The opioids segment is expected to maintain its leadership status during the forecast period. 

By drug class, the opioids segment is expected to maintain its leadership status during the forecast period. This is attributed to increase in prevalence of chronic pain conditions, rise in aging population, and expansion of awareness and access to pain management treatments. Opioids, known for their potent analgesic properties, have traditionally been important in managing moderate to severe pain. However, their widespread use has also been associated with significant challenges, including the risk of addiction, misuse, and overdose. 

Want to Explore More, Connect to our Analyst - https://www.alliedmarketresearch.com/connect-to-analyst/404 

The postoperative pain segment to maintain its leadership status during the forecast period 

By indication, the postoperative pain segment dominated the market share in 2023. Aging population worldwide is experiencing a surge in surgical interventions, as older individuals often require medical interventions for age-related conditions such as joint replacements, cardiac surgeries, and cancer treatments. Postoperative pain management becomes crucial in these scenarios, as surgical procedures result in varying degrees of pain, requiring effective pain relief measures for optimal recovery. 

The chronic pain segment to maintain its leadership status during the forecast period 

By pain type, the chronic pain segment dominated the market share in 2023. This is attributed to growth in prevalence of chronic pain and rise in incidence of chronic health conditions such as diabetes, cancer, and cardiovascular diseases. These conditions can lead to neuropathic pain, visceral pain, or pain associated with cancer treatments, chemotherapy, or surgical procedures, necessitating long-term pain management strategies. 

For Purchase Related Queries/Inquiry - https://www.alliedmarketresearch.com/purchase-enquiry/404 

Regional Outlook 

North America to maintain its dominance by 2033

North America dominated the market share in 2023. This is attributed to advanced healthcare systems, rise in prevalence of chronic pain conditions, and greater accessibility to healthcare services. These regions also witness significant research and development activities, leading to the introduction of innovative pain management therapies and medications. However, in emerging markets such as Asia-Pacific and LAMEA, the pain management drugs market is experiencing rapid growth driven by increase in healthcare expenditure, expansion in pharmaceutical industries, and rise in awareness about pain management. 

Key Players 

Novartis AGEli Lilly & CompanyAbbott LaboratoriesEndo Health Solutions, Inc.Purdue Pharma L.P.Pfizer, Inc.Viatris Inc.Merck & Co. Inc.Johnson & JohnsonGlaxoSmithKline Plc

The report provides a detailed analysis of these key players in the global pain management drugs market. These players have adopted different strategies such as agreement, product approval, clinical trials and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Developments in Pain Management Drugs Market Worldwide

In January 2024, Heron Therapeutics, Inc. a commercial-stage biotechnology company announced that the U.S. Food and Drug Administration has approved its supplemental New Drug Application for ZYNRELEF to expand the indication for soft tissue and orthopedic surgical procedures including foot and ankle, and other procedures in which direct exposure to articular cartilage is avoided. ZYNRELEF is the first and only therapy for postoperative pain management to be rigorously tested in Phase 3 studies and demonstrate superiority to bupivacaine solution, the current standard-of-care. In December 2022, Tris Pharma, Inc. (Tris), a fully integrated, innovation-driven pharmaceutical company focused on CNS disorders announced new clinical data from its oral human abuse potential study in patients who are nondependent recreational opioid users, which demonstrate that cebranopadol (TRN-228) possesses significantly less likeability at high doses, above the therapeutic range versus immediate release (IR) formulations of tramadol or oxycodone. Cebranopadol is a novel, dual nociceptin/orphanin FQ peptide (NOP) receptor and ?-opioid peptide (MOP) receptor agonist in development for the treatment of moderate to severe pain. In June 2021, Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies announced a settlement agreement with the State of New York and its participating subdivisions, including Nassau County and Suffolk County, resolving their opioid-related claims against the Company. In June 2021, Eli Lilly and Company and Incyte presented data from post-hoc analyses that suggested OLUMIANT (baricitinib) 4 mg tablet reduced pain and duration of morning joint stiffness, and improved overall physical function at 12 weeks, among patients with moderate to severe rheumatoid arthritis (RA), as compared to HUMIRA (adalimumab) and placebo. 

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Toll Free: [phone]
Int'l: [phone]
UK: [phone]
Hong Kong: [phone]
India (Pune): [phone]
Fax: [phone]
[e-mail]
Web: https://www.alliedmarketresearch.com  
Follow Us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/pain-management-drugs-market-to-reach-109-6-billion-globally-by-2033-at-4-2-cagr-allied-market-research-302212260.html