Pain Therapeutics Market
Pain Therapeutics Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Pain Therapeutics Market is segmented by Drug Class, Indication, Distribution Channel, and by Region. KDMI analyst foresees market revenue to cross USD 106.7 Billion by 2032 by growing with a CAGR of 4.1% during 2024-2032.
Pain Therapeutics Market Highlights
The global pain therapeutics market is expected to cross a value of USD 106.7 billion by the end of 2032. The market was valued at USD 79.2 billion in 2023 and is expected to expand at a CAGR of 4.1% between 2024-2032.
- Over the mid-term, the rise in prevalence of chronic pain is the primary factor anticipated to drive the global pain therapeutics market.
- The growing concern for regulatory challenges and compliance is a major factor to challenge the market growth.
- The North America pain therapeutics market is projected to dominate the global market.
Pain Therapeutics Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 79.2 Billion |
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Forecast Year |
2024-2032 |
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Forecast Year Market Size |
USD 106.7 Billion |
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CAGR Value |
4.1% |
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Pain Therapeutics Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Pain Therapeutics Market Segmentation |
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Pain Therapeutics Market Key Players |
Pfizer Inc., Johnson & Johnson, Eli Lilly and Company, Novartis AG, Teva Pharmaceutical Industries Ltd., AbbVie Inc., GlaxoSmithKline plc, AstraZeneca plc, Purdue Pharma L.P., Mallinckrodt Pharmaceuticals, Endo International plc, Allergan plc, and others. |
Pain Therapeutics Market Outlook
Pain therapeutics are a broad range of medical treatments, medications, and interventions designed to alleviate or manage pain. Also known as pain management or analgesics, these encompasses pharmaceutical drugs, such as nonsteroidal anti-inflammatory drugs (NSAIDs), opioids, anticonvulsants, antidepressants, and topical agents, which target different mechanisms involved in pain sensation and transmission.
According to our experts at KD Market Insights, the rise in prevalence of chronic pain is one of the primary factors associated with the growth of the global pain therapeutics market. Chronic pain conditions such as arthritis, lower back pain, neuropathic pain, and cancer-related pain are becoming more prevalent globally due to factors such as aging populations, sedentary lifestyles, and rising incidences of chronic diseases. This growing prevalence drives the demand for effective pain therapeutics. Pfizer Inc., Johnson & Johnson, Eli Lilly and Company are some of the significant parties in the global market for pain therapeutics.
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Pain Therapeutics Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global pain therapeutics market are:
- Expanding Geriatric Population Globally: The aging population worldwide, which according to the World Health Organization (WHO), is expected to double to 2.1 billion by 2050, is a significant contributor to the growth of the pain therapeutics market. Elderly individuals are more prone to chronic pain conditions due to age-related degenerative changes. This, as a result, is leading to a higher demand for pain management medications and treatments tailored to their specific needs, which is expected to drive the demand for pain therapeutics.
- Growing Awareness Among Healthcare Professionals for Adequate Pain Management: The rise in awareness among healthcare professionals and patients regarding the importance of adequate pain management is expected to drive the demand for pain therapeutics. Rapid educational campaigns, advocacy efforts, and improved pain assessment tools contribute to a greater recognition of the need for effective pain relief, which is expected to drive the market growth.
Which Probable Factors Could Hamper the Growing Pain Therapeutics Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of pain therapeutics are:
- Concern for Regulatory Challenges and Compliance: Stringent regulatory requirements for the approval, manufacturing, and marketing of pain therapeutics is one of the major factors expected to limit the market growth.
- Growing Opioid Epidemic and Regulatory Scrutiny: The opioid epidemic has led to heightened regulatory scrutiny and restrictions on opioid prescribing and distribution. Measures aimed at combating opioid misuse and abuse, such as prescription monitoring programs and opioid prescribing guidelines, have resulted in decreased opioid prescriptions and increased caution among healthcare providers, potentially limiting the market growth of opioid-based pain therapeutics.
How is the Global Pain Therapeutics Market Segmented?
Our experts at KD Market Insights have segmented the global pain therapeutics market as:
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By Drug Class |
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By Indication |
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By Distribution Channel |
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By Region |
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What are the Probable Factors Influencing the North America Pain Therapeutics Market Forecast?
The North America pain therapeutics market is majorly driven by the growing technological advancements in pain management technologies, growing ageing population, and the surge in prevalence of chronic diseases in the region. North America has a rapidly aging population, with a significant proportion of individuals experiencing age-related chronic pain conditions such as osteoarthritis, neuropathy, and back pain. On the other hand, chronic diseases such as diabetes, cancer, and cardiovascular conditions are on the rise in the region, which is also expected to raise the demand for pain therapeutics.
As per our analysts at KD Market Insights, the following five players lead the North America pain therapeutics market growth:
- Pfizer Inc.
- Johnson & Johnson
- Purdue Pharma L.P.
- Mallinckrodt Pharmaceuticals
- Endo International plc
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Key Countries to Watch for in North America Pain Therapeutics Market |
Key Insights |
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United States Pain Therapeutics Market to Register the Largest Regional Market Share in 2032 |
USD 29.8 Billion |
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Canada Pain Therapeutics Market to Grow with the Highest CAGR During 2024-2032 |
4.5% |
Which Key Players Top the Global Pain Therapeutics Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global pain therapeutics market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with pain therapeutics market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global pain therapeutics market share:
- Pfizer Inc.
- Johnson & Johnson
- Eli Lilly and Company
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- AbbVie Inc.
- GlaxoSmithKline plc
- AstraZeneca plc
- Purdue Pharma L.P.
- Mallinckrodt Pharmaceuticals
- Endo International plc
- Allergan plc
What are the Recent Developments Observed in the Pain Therapeutics Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global pain therapeutics market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, Abeona Therapeutics stated that it has received positive results for its VIITALTM study of EB-101, which is at its pivotal Phase 3, with both co-primary endpoints.
Further, Venus Remedies Limited shared that it has established a separate consumer healthcare subsidiary. This new subsidiary would provide advanced pain diagnostics and solutions.
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- Publication date: 5th April 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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Pain Therapeutics Market
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