According to the latest report by IMARC Group, titled “Pain Management Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global pain management drugs market reached a value of US$ 65.4 Billion in 2021. Pain management drugs refer to a class of medications used to prevent, manage, and reduce the pain associated with injuries, surgeries, or diseases. These medications primarily bind to receptor proteins on cell membranes through a distinctive physiological mechanism and provide relief from distressing feelings. Depending on the drug type and dose, they can be administered through various means, such as oral, intravenous, intranasal, intrathecal, and topical.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Pain Management Drugs Market Trends:
The increasing prevalence of chronic diseases, such as osteoarthritis, diabetic neuropathy, multiple sclerosis and cancer, is majorly driving the global pain management drugs market growth. The rising geriatric population that is more susceptible to develop such ailments is acting as another major growth-inducing factor. Additionally, the expanding demand-supply gap for neuropathic pain management drugs has encouraged manufacturers to introduce advanced therapies and medicines. For instance, market players are launching innovative pain management products to address the gaps in technology solutions for patient diagnostics and management. Apart from this, continuous research and development (R&D) activities to engineer safer medications and newer drug delivery systems are creating a positive outlook for the market. Looking forward, the market is expected to exhibit a CAGR of 3.8% during 2022-2027.
- Based on the drug class, the market has been segmented as nonsteroidal anti-inflammatory drugs (NSAIDs), anesthetics, anticonvulsants, antimigraine agents, antidepressants, opioids and others.
- On the basis of the indication, the market has been divided into musculoskeletal, surgical and trauma, cancer, neuropathic, migraine, obstetrical, fibromyalgia, burn, dental/facial, pediatric and other types of pain.
- The market has been categorized based on the distribution channel into hospitals, retails and online pharmacies.
- Region-wise, the market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined, with some of the key players being Abbott Laboratories, Inc., Pfizer, Inc., Eli Lilly & Company, Endo International plc, F. Hoffmann-La Roche AG, Bausch Health Companies, Inc., Merck & Co. Inc., Allergen Inc., Novartis International AG, Johnson & Johnson Private Limited, GlaxoSmithKline Plc and Purdue Pharma L.P.
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