Pain Management Drugs Market Report, Trends and Forecast 2023-2028

Pain Management Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A1330

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Market Overview:

The global pain management drugs market size reached US$ 67.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 85.3 Billion by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.

Pain management drugs perform pharmacological actions on pain receptors and work against discomfort-causing symptoms. These medications provide relief from the distressing feeling caused due to various health issues, such as osteoarthritis, chronic arthritis, diabetic neuropathy, multiple sclerosis and cancer, by acting through different physiological functions. In recent years, medical advancements have led to the introduction of novel combinations and newer drug delivery techniques that provide improved pain management.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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One of the key factors driving the global market is the rising geriatric population across the globe. In 2018, the population of people aged 60 years and above was around 991 million. This population is projected to reach 1.18 billion by 2024. With the prevalence of chronic pain being significantly higher in older adults, the demand for pain management drugs is escalating across the globe. Furthermore, a rise in the number of hospitalization cases and a huge demand-supply gap for effective neuropathic pain management drugs have led to the emergence of innovative and advanced therapies and medicines. Moreover, the leading pharmaceutical companies are investing heavily in research and development (R&D) activities to develop analgesics or painkillers that are safer, more effective, economically viable and easier to administer. Other factors, including rising healthcare expenditure, improving R&D, increasing consumer awareness, and significant government support for improving healthcare services, are driving the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global pain management drugs market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on drug class, indication and distribution channel.

Breakup by Drug Class:

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NSAIDs
Anesthetics
Anticonvulsants
Antimigraine Agents
Antidepressants
Opioids
Others

Breakup by Indication:

Musculoskeletal Pain
Surgical and Trauma Pain
Cancer Pain
Neuropathic Pain
Migraine Pain
Obstetrical Pain
Fibromyalgia Pain
Burn Pain
Dental/Facial Pain
Pediatric Pain
Others

Breakup by Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

Breakup by Region:

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North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the pain management drugs companies 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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Drug Class, Indication, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	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
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global pain management drugs market reached a value of US$ 67.8 Billion in 2022.

The global pain management drugs market is expected to grow at a CAGR of 2.8% during 2023-2028.

The market for pain management drugs is experiencing a negative growth on account of the outbreak of COVID-19 as several outpatient and elective interventional procedures across healthcare facilities are reduced or interrupted to reduce the risk of disease transmission. Also, the disruptive supply chains of pharmaceutical products is also hampering the market growth.

The rising geriatric population who are more prone chronic pain is augmenting the demand for pain management drugs across the globe.

Several medical advancements have led to the introduction of novel combinations and newer drug delivery techniques for providing improved pain management, which are among the key trends in the global pain management drugs market.

Based on the drug class, the global pain management drugs market has been bifurcated into non-steroidal anti-inflammatory drugs (NSAIDs), anesthetics, anticonvulsants, antimigraine agents, antidepressants, opioids, and others. In this segment, opioids dominate the global market.

Based on the indication, the global pain management drugs market has been bifurcated into musculoskeletal pain, surgical and trauma pain, cancer pain, neuropathic pain, migraine pain, obstetrical pain, fibromyalgia pain, burn pain, dental/facial pain, pediatric pain, and others. In this segment, musculoskeletal pain accounts for the largest market share.

Based on the distribution channel, the global pain management drugs market has been segregated into hospitals, retail, and online pharmacies.

Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America holds the largest market share.

Leading pain management drugs manufacturers are 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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