Pain Management Therapeutics Market Is Expected To Reach Revenue Of USD 120.7 Bn By 2033, At 3.9% CAGR: Dimension Market Research.

New York, Jan. 20, 2025 (GLOBE NEWSWIRE) -- Overview

The Global Pain Management Therapeutics Market is projected to reach USD 85.2 billion in 2024 which is further anticipated to reach USD 120.7 billion by 2033 at a CAGR of 3.9%.

The pain management therapeutics market is expected to gain a boost with the increasing incidence of cases of chronic suffering resulting from diseases such as arthritis, cancer, and diabetes, associated with the increasing geriatric population. Target indications include chronic pain, arthritis pain, and neuropathic pain.

Pain medicines and biological therapies are now more effective with fewer side effects as compared to opioids and conventional analgesics. North America has the largest share, while Asia-Pacific is growing because of the increased availability of healthcare services. The emphasis on the research aspect along with development and strategic partnerships will continue fueling global market growth.

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The US Pain Management Therapeutics Market

The US Pain Management Therapeutics Market with an estimated value of USD 27.9 billion in 2024 is projected to increase at a CAGR of 3.7% until reaching USD 38.5 billion by 2033.

The U.S. pain management therapeutics market leads globally due to high healthcare spending and the widespread prevalence of chronic pain conditions, affecting around 100 million Americans. Its pain indications such as chronic back pains, arthritis, and neuropathic pain explain ongoing patient requirements for good, cost-efficient treatment.

The opioid crisis has driven an interest in medications other than opioids including NSAIDs, antidepressants, and anticonvulsants. More clinics for pain management and the availability of services through telemedicine are valuable and improve the accessibility of the services.

Important Insights

• Global Market Insights: This market is estimated to be valued at USD 85.2 billion in 2024 and is expected to reach USD 120.7 billion by 2033.
• S. Market Insights: The U.S. Pain Management Therapeutics Market is projected to grow from USD 27.9 billion in 2024 to USD 38.5 billion by 2033, with a CAGR of 3.7%.
• Drug Class Segment: NSAIDs (Non-Steroidal Anti-Inflammatory Drugs) are expected to dominate this segment, holding 24.1% of the market share in 2024.
• Indication Segment: Arthritic pain is anticipated to lead the global pain management therapeutics market, accounting for 35.0% of the market share by 2024.
• Regional Analysis: North America is projected to dominate this market with 38.9% of the market share in 2024.
• Global Growth Rate: The market is expected to grow at a CAGR of 3.9% over the forecast period.

Latest Trends

• Non-Opioid Therapies Gaining Ground: Higher rates of opioid-induced diseases prompt the search for non-opioid analgesic methods that include neuromodulation, cannabis products, and gene therapies to help manage chronic and neuropathic pain in patients safely.
• Digital Health and Telemedicine in Pain Management: The expansion of telemedicine following the COVID-19 pandemic improves possibilities for pain management consults and e-prescriptions, especially for constant pain patients in rural areas.
• Personalized Medicine and Targeted Therapies: The emergence of novel technological techniques in genomic research and biotechnology has given birth to precisely targeted therapies such as gene and biologic therapies, which provide effective, personalized pain management treatments with fewer side effects, thus strengthening the market growth.

Pain Management Therapeutics Market: Competitive Landscape

The global pain management therapeutics market is very much consolidated with the players such as Pfizer, Johnson & Johnson, Eli Lilly, and AbbVie offering new non-opioid options. Firms are venturing into the development of biological drugs, neuroscience devices, and medical marijuana to counter the opioid issue.

The collaboration between Teva Pharmaceuticals and Grünenthal GmbH moves the needle forward in finding treatment for chronic and neuropathic pain. Moreover, biotechnology firms are currently creating gene therapies for pain management, and the concept of ‘personalized medicine,’ also evoking more patient-oriented approaches to pain management, is indicative of the market emphasizing more, patient-specific treatments.

Some of the prominent market players:

• Pfizer Inc.
• Johnson & Johnson (Janssen Pharmaceuticals)
• Teva Pharmaceutical Industries Ltd.
• Eli Lilly and Company
• AbbVie Inc.
• Sanofi S.A.
• Novartis AG
• AstraZeneca
• Endo Pharmaceuticals
• Mallinckrodt Pharmaceuticals
• Purdue Pharma L.P.
• Grünenthal GmbH
• Other Key Players

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Pain Management Therapeutics Market Scope

Market Analysis

NSAIDs are projected to dominate the pain management therapeutics market as they account for 24.1% by 2024 due to their broad effectiveness, affordability, and accessibility. They're popularly prescribed to treat arthritis pain, post-operative discomfort, and chronic musculoskeletal issues.

Their over-the-counter availability makes them even easier and safer than opioids as addiction risk risks are much lower; making NSAIDs one of the first-line solutions in pain treatment regimens and thus cementing their dominance within this market.

Pain Management Therapeutics Market Segmentation

By Pain Type

• Chronic Pain
• Acute Pain

By Drug Class

• Non-steroidal anti-inflammatory Drugs (NSAIDs)
• Opioids
  • Oxycodone
  • Hydrocodones
  • Tramadol
  • Morphine
  • Fentanyl
  • Others
• Anesthetics
• Anti-Migraine Drugs
  • Triptans
  • Ergot Alkaloids
  • CGRP Inhibitors
• Antidepressants
  • SSRIs
  • SNRIs
  • TCAs
• Anticonvulsants
• Other Drug Class

By Route of Administration

• Oral
• Parenteral

 By Indication

• Arthritic Pain
• Neuropathic Pain
• Chronic Back Pain
• Post-Operative Pain
• Cancer Pain
• Fibromyalgia
• Other Indication

By Distribution Channel

• Online Pharmacy
• Retail Pharmacy
• Hospital Pharmacy

Growth Drivers

• An expanding elderly population suffering from degenerative conditions such as osteoarthritis and neuropathies such as neuropathy creates chronic pain from degeneration, consequently increasing demand for long-term pain management solutions across developed regions like North America and Europe.
• As chronic diseases like cancer, diabetes, and fibromyalgia become increasingly prevalent, the demand for pain management drugs grows accordingly. Conditions like neuropathic pain or chemotherapy-induced discomfort necessitate specific medical attention that drives the growth of this market.
• Advances in drug delivery (e.g. extended-release formulations or transdermal patches) have the power to increase patient compliance while simultaneously improving the efficacy of chronic pain treatments, sparking market expansion.

Restraints

• Strict regulations on opioid prescriptions to combat addiction reduce access to essential treatments for severe pain relief, decreasing availability and slowing market expansion as healthcare providers face difficulty prescribing effective painkillers.
• Patent expirations on major pain management drugs have opened the way to competition from generics at lower costs and decreased profit margins, particularly in regions with stringent pricing controls such as North America and Europe.

Growth Opportunities

• Asia-Pacific, Latin America, and Africa offer significant growth potential due to expanding healthcare infrastructure, increased awareness about pain management therapies, and rising per capita income levels that create market opportunities.
• Biologics and gene therapies provide highly targeted treatments with few side effects for chronic neuronopathic or autoimmune-related pain, leading to long-term growth and innovations within the pain management market.

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Regional Analysis

North America is projected to dominate the global pain management therapeutics market with shares of 38.9% by 2024 due to high standards of care, high incidence of chronic pain, and higher healthcare spending.

The aging population suffering from arthritis, cancer, and chronic back pain makes long-term pain relief solutions more desired. Other research concepts such as biologics and neuromodulation by giant pharmaceutical companies including Pfizer and Eli Lilly extend the dominance in the region.

Furthermore, healthcare policies and reimbursements facilitate the availability of these advanced pain management therapies, and that has made North America lead the market.

By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

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Recent Developments in the Pain Management Therapeutics Market

• October 2024: Pfizer launched a new extended-release NSAID for the treatment of arthritic pain, aimed at improving patient compliance and offering longer-lasting pain relief.
• September 2024: AbbVie introduced a new biologic targeting chronic back pain and neuropathic pain, expanding its presence in the chronic pain market.
• August 2024: Johnson & Johnson (Janssen Pharmaceuticals) announced a strategic collaboration with Novartis to develop a cannabinoid-based therapy for managing cancer pain.
• July 2024: Grünenthal GmbH expanded its R&D efforts into gene therapy for neuropathic pain, with clinical trials expected to begin in early 2025.
• June 2024: Teva Pharmaceuticals received FDA approval for a new migraine drug targeting the CGRP pathway, adding to its portfolio of anti-migraine drugs.
• May 2024: Eli Lilly announced positive results from Phase 3 clinical trials for its novel treatment for fibromyalgia, expected to hit the market by 2025.
• April 2024: Endo Pharmaceuticals launched a new opioid formulation with built-in abuse-deterrent technology to address concerns surrounding opioid misuse.
• March 2024: Mallinckrodt Pharmaceuticals expanded its range of opioid and NSAID combinations for postoperative pain management.

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