New York, USA, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Pain Management Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Pain Management Market Information By Product, Form, Category, Distribution Channel, and Region - Forecast till 2027", the market is estimated to rise upon to enlist a CAGR of 4.50% during the estimated time of 2020–2027 and the market may reach USD 85,300 Million by 2027.
Pain Management Market Synopsis
Pain is an uncomfortable sensory and emotional experience that follows tissue injury or illness. Additionally, several illnesses can be uncomfortable, including cancer, multiple sclerosis, osteoarthritis, stomach ulcers, chronic arthritis, fibromyalgia, and chronic gout. Acute pain might last for a short while, while chronic pain can last very long. Acute pain might be modest, barely last a split second, and can last for days, weeks, or even months. Injuries, damaged nerves, and aging bone and joint disorders are the main causes of chronic pain. To combat the market's addiction to opioids and some well-known painkillers, more non-opioid therapies are being used over time.
Several non-opioid medications with mechanisms of action are either in the early phases of development or have already been developed. The regulatory agencies in many nations are switching to alternative methods, hastening the approval of those products for the market. The change is predicted to occur gradually. As a result, the field of pain management offers promising growth potential over the projection period.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 85300 Million |
| CAGR | 4.5% |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Devices, Drugs, Indication, Mode of Purchase and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The higher number of blood transfusions in surgeries and accident cases |
| The enhanced number of diagnostic tests and their use in different hospitals |
Pain Management Market Competitive Landscape:
The focal contenders in the pain management market are:
- Abbott Laboratories
- Stryker Corporation
- Bayer AG
- DJO Global LLC
- Medtronic PLC
- Pfizer Inc.
- Halyard Health, Inc.
- Eli Lilly & Company
- Endo Health Solution
- Astellas Pharma
- Boston Scientific Corporation
- Codman And Shurtleff, Inc
- F. Hoffmann-La Roche Ltd
- Abbvie, Allergan
- AstraZeneca plc
- B. Braun Melsungen AG
- Becton, Dickinson, and Company
- Merck & Co. Inc.
- Forest Laboratories
- Mallinckrodt plc
- Smith's Medical
Market U.S.P. Covered:
Market Drivers:
One of the main elements anticipated to support market expansion over the forecast period is the rising prevalence of chronic disorders. The demand for muscle and nerve stimulators has increased as lifestyle problems like obesity and diabetes become more common. Another significant aspect predicted to contribute to the market's growth is the rising incidence of trauma or hypertension. The chance of developing a brain aneurysm and other chronic disorders is markedly increased by hypertension. Since older people are more likely to experience joint pain and other chronic disorders, the growing geriatric population is the main factor behind the rise of the global market for pain management medications. The prevalence of chronic diseases like cancer, diabetic neuropathy, and osteoarthritis is rising, fueling market expansion.
Furthermore, the market for pain management medications is anticipated to grow due to increased surgical operations and healthcare spending. However, the market's expansion is constrained by drug exploitation, the patent expiration of prescription painkillers, and the accessibility of alternatives such as painkiller devices. Patients with long-term diseases and physical trauma employ various cutting-edge pain management devices, from managing chronic pain to treating post-operative pain. Therefore, the rapid rise in chronic diseases, including diabetes, cancer, and mental disorders, and rising accident rates will continue to substantially boost the pain management device market during the projection period.
Market Restraints:
To a large degree, the growth of the pain management market is dependent on rising surgical rates and rising consumer demand for medical services. However, the market's growth is constrained by drug addiction, the loss of patent protection for pain relief drugs, and the availability of replacements such as discomfort reduction devices.
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Pain Management Market COVID 19 Analysis
Millions of people worldwide have already been impacted by the COVID-19 outbreak brought on by the SARS-CoV-2 virus. The spread of the dangerous coronavirus has economic repercussions across various industries, including medical devices. The statewide lockdown has disrupted patients who primarily relied on exercise routines or physical therapy as a pain management regimen. The demand for pain management at home is also anticipated to rise due to the suspension or delay of numerous elective procedures and in-person patient visits. The non-urgent character of most chronic pain care negatively impacted the patient's psychological well-being during the epidemic.
Patients with acute pain during the COVID-19 epidemic were untreated because they shied away from going to the hospital for fear of getting sick. On the other hand, the pandemic's social isolation prompted passive coping mechanisms, which resulted in despair and anxiety. Thus, the COVID-19 outbreak significantly impacted the global market for pain treatment.
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Pain Management Market Segmentation
Based on the mode of purchase, the market includes over-the-counter and solution-based. Based on pain management devices, the pain management market includes pain-relieving mixture siphons, neurostimulation devices, and removal gadgets.
By end-use, the pain management market includes drug organizations, clinical gadget organizations, emergency clinics and facilities, examinations, educational establishments, and others. Based on types of pain management drugs, the pain management market includes non-steroidal anti-inflammatory drugs (NSAIDs), narcotics, antimigraine specialists, anticonvulsants, sedatives, and antidepressants.
Based on indication, the pain management market includes joint torment, neuropathic torment, disease torment, musculoskeletal torment, fibromyalgia, facial agony and headache, and persistent back torment.
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Pain Management Market Regional Insights
Due to the region's excellent healthcare infrastructure, which makes it simple to get cutting-edge pain management products, North America accounted for the greatest revenue share. Additionally, the market is growing due to expanding government initiatives and a carefully thought-out reimbursement environment in this region. The presence of well-established care facilities, an elderly population that is expanding, and a high prevalence of hypertension and stroke are further factors driving the regional market.
During the projected period, the market in the Asia Pacific will be expected to expand at the fastest rate. Investments in R&D that result in technologically cutting-edge healthcare treatment choices might be credited with this rise. Additionally, the existence of numerous trade agreements is enhancing the potential for market expansion in the area.
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