Pain Management Drugs Market Research Report 2023 - Detailed Analysis of Future Trends & Growth Opportunities | Pfizer, Inc., Sanofi S.A., GlaxoSmithKline Plc
The inflammation therapies market comprises drugs that help alleviate symptoms associated with inflammation and related conditions like arthritis and scleroderma. These include NSAIDs, corticosteroids and disease-modifying antirheumatic drugs.
Inflammation is a normal immune response, however chronic inflammation can damage tissues and lead to diseases. The rising global prevalence of inflammatory diseases like arthritis, inflammatory bowel disease and asthma is a major factor augmenting market growth. According to estimates, over 54 million Americans suffer from arthritis and the prevalence is expected to rise further. Additionally, the launch of novel biologics and biosimilars that provide targeted anti-inflammatory action with relatively mild side effects compared to conventional drugs is also propelling market expansion during the forecast period. Market players are investing in R&D to develop advanced therapies based on newer drug delivery mechanisms and targeting pathways involved in inflammation, which will likely contribute to the inflammation therapies market growth till 2030.
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Major companies in Pain Management Drugs Market are:
✤ 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
✤ F. Hoffmann La Roche Ltd.
Note: Major Players are sorted in no particular order.
Growing Geriatric Population is a Key Driver for Pain Management Drugs Market
The aging population is increasingly becoming more prone to health issues like arthritis, joint pains and other age-related diseases. This has significantly increased the demand for pain management drugs to relieve patients from chronic and acute pain. According to the UN statistics, the global population aged 60 years and above is expected to double from 12% to 22% between 2015 and 2050. With an increasingly aging global demographic, pharmaceutical companies are accelerating their R&D efforts to develop new therapies and treatment options in the pain management segment. Chronic conditions arising from old age will continue driving volume growth of prescription drugs for arthritis, back pain and other musculoskeletal disorders.
Rise in Road Accidents and Trauma Cases Boosts Market Growth
Road accidents and trauma injuries have become a major causative factor for various types of acute and chronic pains. As per the WHO, road traffic injuries claim around 1.35 million lives each year globally. Apart from loss of lives, such accidents often result in fractures, muscle tears and long-term disability. This has significantly increased the usage of analgesic therapies in accident-related trauma and injury cases. Various innovator companies are developing novel drugs with distinct mechanisms of action to provide relief from incident-related acute and neuropathic pains. Moreover, musculoskeletal disorders arising from accidents require long-term therapy involving the use of opioids, NSAIDs and other medications. This sustained usage is positively impacting the revenues of pain management drug makers.
Increasing Risk of Overdose and Addiction Restrains Market Prospects
Widespread misuse and abuse of prescription opioid medications has emerged as a serious public health epidemic in recent times. According to the CDC report, opioids were involved in over 47,000 deaths in the U.S. alone in 2017 due to overdose. Regular intake of opioid drugs predisposes patients to risks of substance abuse, addiction and dependence. Stringent regulations have been imposed by drug authorities globally to curb non-medical and non-prescription use of opioids. Pharma companies now face challenges of compliance and overcoming safety concerns during new product development. They are compelled to demonstrate superior efficacy along with an improved safety profile of opioid medications to obtain regulatory approvals. Growing rate of opioid addiction poses a major restrain on the long-term market prospects of pain drugs containing controlled substances.
Emergence of Novel Biologics Offers Lucrative Opportunities
With increasing awareness about side-effects of opioids, pharmaceutical firms are actively exploring alternative treatment modalities like biologics, neurostimulation devices and other non-narcotic therapies. The biologics segment has tremendous scope of innovation for pain relief through novel mechanisms involving gene- or cell-based therapies. Monoclonal antibodies, therapeutic vaccines, cytokines and other biotech modalities hold promise for effectively managing pain associated with autoimmune conditions, nerve injuries and musculoskeletal disorders. Several blockbuster biologics like Humira, Enbrel and TNF inhibitors have already made their mark. Emergence of advanced biologics promises to revolutionize long-term treatment of chronic pain conditions in a safer manner. This presents lucrative commercial opportunities for first-movers in developing breakthrough biologic entities.
Shift Towards Personalized Pain Management is the Major Market Trend
The current pain management trend emphasizes achieving individualized therapy outcomes through a personalized approach. No two patients experience pain alike due to differences in genetics, disease conditions, response to drugs and lifestyle factors. Tailoring treatment regimens based on an individual's biomarkers, genes and psychographics has become imperative. Pharma companies are strategizing on combination products, combination therapies, and co-therapies to enhance efficacy through personalized regimens. Additionally, non-pharmacological methods involving nerve stimulation, neuromodulation, physiotherapy and alternative modalities are gaining prominence. This paradigm shift towards precision or personalized medicine bodes well for the future growth of advanced pain relief solutions developed through a deeper clinical understanding of distinctive patient subgroups.
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Highlights of the global Pain Management Drugs Market report:
→ This analysis provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), using 2021 as the base year. It also covers the global Pain Management Drugs Market in-depth.
→ It offers enticing investment proposition matrices for this sector and explains the likely future growth of key revenue streams.
→ Additionally, this study offers crucial insights into market forces, limitations, opportunities, new product introductions or approvals, market trends, regional perspective, and competitive tactics used by top rivals.
→ Based on the following factors: company highlights, product portfolio, significant highlights, financial performance, and strategies, it covers key players in the global Pain Management Drugs Market.
→ Marketers and company leaders will be able to make wise decisions about next product launches, type updates, market expansion, and marketing strategies thanks to the insights from this research.
→ A wide spectrum of industry stakeholders are covered by the global Pain Management Drugs Market research, including investors, vendors, product producers, distributors, new entrants, and financial analysts.
→ The many strategy matrices used in researching the global Pain Management Drugs Market will aid stakeholders in making decisions.
The research was developed through the synthesis, analysis, and interpretation of data gathered from multiple sources on the parent market. Additionally, analysis has been done of the economic circumstances and other economic indicators and factors to evaluate their respective impact on the Pain Management Drugs Market, along with the present impact, so as to develop strategic and informed projections about the scenarios in the market. This is mostly due to the developing countries' unmet potential in terms of product pricing and revenue collection.
Key Questions Answered In The Report:
• Which regional market will experience the greatest and most rapid growth?
• Who are the top five Pain Management Drugs Market players?
• How will the Pain Management Drugs Market evolve over the next six years?
• What application and product will dominate the Pain Management Drugs Market?
• What are the market drivers and constraints for Pain Management Drugs Market?
• What will be the Pain Management Drugs Market's CAGR and size during the forecast period?
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