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Pain Management Drugs Market Size

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

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Pain Management Drugs Market Size

Pain Management Drugs Market size was valued to be USD 70.1 billion in 2022 and is expected to reach USD 108.9 billion in 2032 with a CAGR of 4.5% by 2032 due to the rising incidence of chronic diseases, increasing geriatric population who are more prone to chronic pain, and Favorable regulatory scenario. Also, rise in the number of patients for pain management of osteoarthritis, diabetic neuropathy and cancer.

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Additionally, pharmaceutical companies are investing in R&D in order to discover and develop novel pain management medications. Drug development innovation, such as the introduction of abuse-deterrent formulations and novel mechanisms of action, broadens patients' treatment options.

Pain Management Drugs Market Report Attributes
Report Attribute	Details
Base Year:	2022
Pain Management Drugs Market Size in 2022:	USD 70.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4.5%
2032 Value Projection:	USD 108.9 Million
Historical Data for:	2018 to 2022
No. of Pages:	160
Tables, Charts & Figures:	283
Segments covered:	Drug Class, Indication, Pain Type, Distribution Channel, and Region
Growth Drivers:	Rise in incidences of chronic pain Increasing number of surgical procedures Increasing demand for non-opioid analgesics Increase in geriatric population Favorable regulatory scenario Technological advancements in drug delivery
Pitfalls & Challenges:	Side effects and safety concerns Patent expirations and generic competition Availability of alternative therapies and non-pharmacological approaches High development costs and lengthy approval processes

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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.