Pain Management Therapeutics Market Size, Share & Forecast 2028

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Methodology

Free Analysis

Pain is a multifarious medical condition, which not only affects the mental but also physical well-being of an individual. The intensity of pain caused due to tissue damage or trauma depends on person to person. The pain is categorized into two main categories, acute and chronic. Depending on the level or condition, the treatment differs. 

The increasing geriatric population, rising prevalence of chronic disease, and favorable regulatory scenario are the key factors contributing towards the growth of pain management therapeutics market globally. The advancement in new drug development for pain management and an untapped market in developing economies are expected to generate immense opportunity for the growth of the market over the forecast period.

The pain management therapeutics market is categorized into drug class, indication, distribution channel, and by geography. Based on drug class, the pain management therapeutics market is segmented into anesthetics, NSAIDs, anticonvulsants, antidepressants, anti-migraine agents, non-narcotic analgesics, and opioids. The opioids segment is further segmented into tramadol, oxycodone, hydrocodone, and others. By indications, the market for pain management therapeutics market is segmented as neuropathic pain, arthritic pain, post-operative pain, cancer pain, chronic back pain, fibromyalgia, and migraine. Based on the distribution channel, the global pain management therapeutics market is segmented into hospitals pharmacy, retail pharmacy, and online pharmacy. 

By geography, North America is anticipated to register the least growth rate, but in terms of revenue, it dominated the global pain management therapeutics market in 2017. Followed by North America, Europe accounted for the second highest revenue share in the global pain management therapeutics market and is expected to register significant CAGR over the forecast period. The increasing adoption of advanced pain management therapeutics and the ease of availability of sophisticated and well-established healthcare infrastructure are the chief factors contributing towards the high share of Europe and North America in the global pain management therapeutics market.

Some of the key players in the pain management therapeutics market are Pfizer Inc., Endo International Plc., Depomed, Inc., Purdue Pharma L.P., Teva Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, AstraZeneca Plc., Novartis AG, Merck & Co., Inc., Johnson & Johnson Services, Inc., GlaxoSmithKline Plc., and Abbott Laboratories. The growing demand for advanced drug development is increasing the competition among the key players operating in pain management therapeutics market, and this is expected to propel the growth of the pain management therapeutics market globally over the forecast period.