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Pain Management Drugs Market Trends

Report ID: GMI6231
Published Date: Jul 2023
Report Format: PDF

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Pain Management Drugs Market Trends

The rising prevalence of chronic disorders, increasing healthcare expenditure and investments, increasing geriatric population, and rise in the number of research and development activities, are fuelling the industry development.

The increasing demand for nonsteroidal anti-inflammatory drugs (NSAIDs) and cannabinoids has gained traction in pain management. Research has suggested that cannabinoids, such as tetrahydrocannabinol (THC) and cannabidiol (CBD), may have analgesic properties and can be used to alleviate chronic pain. Drugs such as nonsteroidal anti-inflammatory drugs (NSAIDs), acetaminophen, and certain antidepressant drugs have gained popularity in managing pain. In addition to this, combination of different classes of pain medications to achieve synergistic effects has gained healthcare professional’s attention. This approach can enhance pain relief while potentially reducing the required dosage of individual drugs.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market size for pain management drugs was worth USD 70.1 billion in 2022 and is expected to witness substantial growth at a 4.5% CAGR by 2032 driven by the rising incidence of chronic diseases, increasing geriatric population prone to chronic pain, and a favorable regulatory scenario.

The opioids segment held a 29.4% share of the pain management drugs industry in 2022 and is poised to gain significant traction through 2032 owing to the strong analgesic effect and high effectiveness in providing relief from severe pain that is not adequately controlled by other medications.

North America market is expected to reach USD 42 billion in 2032 with a CAGR of 4.1% by 2032, attributed to the high incidence of chronic diseases, growing elderly population, and availability of well-developed healthcare infrastructure.

Some of the leading firms engaged in the market are ENDO HEALTH SOLUTIONS, INC. (ENDO INTERNATIONAL PLC.), Merck & Co., Inc., Novartis AG Pfizer, Inc., Sanofi S.A., Mylan N.V., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Abbott Laboratories, Purdue Pharma L.P., GlaxoSmithKline Plc., Johnson & Johnson, and F. Hoffmann La Roche Ltd.