Portland, OR, Feb. 10, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. pain management drugs market garnered $25.17 billion in 2021, and is estimated to generate $34.82 billion by 2031, manifesting a CAGR of 3.3% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $25.1 billion |
| Market Size in 2031 | $34.8 billion |
| CAGR | 3.3% |
| No. of Pages in Report | 183 |
| Segments covered | drug class, indication, type of pain. |
| Drivers | Surge in prevalence of muscle strain disorders such as neck pain, shoulder, groin pain, and hamstring in the U.S. |
| Opportunities | Rise in prevalence of acute appendicitis in the U.S. |
| Restraints | Availability of various alternative therapies like pain management devices chiropractic manipulation and acupuncture |
Impact of Covid-19 U.S. Pain Management Drugs Market:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the U.S. pain management drugs market, owing to implementation of global lockdown which resulted to disrupt workflows in the health care sector around the world.
- The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. The U.S. pain management drugs market experienced a decline in 2021 due to global economic recession led by COVID-19.
- In addition, the COVID-19 outbreak disrupted the supply chain of pain drugs across various end-user industries like hospitals and pharmacies.
- However, the market is anticipated to witness recovery in 2021, and show stable growth for U.S. pain management drugs market in the coming years. This is attributed to the increase in adoption of various pain medications with less side effects, rise in number of pending surgeries, increase diabetes disorders, proper counselling for post operative pain conditions and drug approvals for new pain disorders.
The research provides detailed segmentation of the U.S. pain management drugs market based on drug class, indication, type of pain. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on drug class, the opioids segment held the highest share in 2021, accounting for more than one-fourth of the U.S. pain management drugs market, and is expected to continue its leadership status during the forecast period. However, the antidepressants segment is expected to register the highest CAGR of 4.3% from 2022 to 2031.
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Based on indication, the post-operative pain segment accounted for the highest share in 2021, contributing to nearly one-fourth of the U.S. pain management drugs market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the cancer pain segment is expected to manifest the highest CAGR of 6.4% from 2022 to 2031.
Based on type of pain, the chronic pain segment accounted for the highest share in 2021, holding more than two-third of the U.S. pain management drugs market, and is expected to continue its leadership status during the forecast period. This segment is estimated to grow at the highest CAGR of 3.6% during the forecast period.
Leading market players of the U.S. pain management drugs market analyzed in the research include Novartis AG, Eli Lilly & Company, Abbott Laboratories, Purdue Pharma L.P., Boehringer Ingelheim, Pfizer, Inc., Mylan NV., Merck & Co. Inc., Johnson & Johnson, and GlaxoSmithKline Plc.
The report provides a detailed analysis of these key players of the U.S. pain management drugs market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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