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Strong Growth Ahead: Pain Management Drugs Market Size To Grow At Arecord 6% Cagr By 2029
Pain Management Drugs
What Is the Projected Growth of the Pain Management Drugs Market?
The market size for pain management drugs has seen substantial growth in the past years. The forecast is that it will advance from $80.13 billion in 2024 to a projected $84.51 billion in 2025, marking a compound annual growth rate (CAGR) of 5.5%. The growth seen in the historical period is due to factors such as a surge in chronic pain incidents, an increase in cancer cases, a rise in surgical procedures, enhanced pain evaluation, and government initiatives.
In the coming years, the market size for pain management drugs is projected to experience substantial growth, escalating to $106.56 billion in 2029 with a compound annual growth rate (CAGR) of 6.0%. The expansion during the forecast years can be credited to non-opioid alternatives, targeted therapies, precision medicine methods, psychological interventions, and an emphasis on reducing side effects. The forecast period will see major trends such as value-based care models, broadened access programs, combination therapies, inventive formulations, and biosimilar pain medications.
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What Are the Emerging Segments Within the Pain Management Drugs Market?
The pain management drugs market covered in this report is segmented -
1) By Drug Class: Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Anesthetics, Anticonvulsants, Anti-Migraine Agents, Antidepressants, Opioids, Nonnarcotic Analgesics
2) By Indication: Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Back Pain, Postoperative Pain, Migraine, Fibromyalgia, Muscle Sprain Or Strain, Bone Fracture, Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Subsegments:
1) By Non-Steroidal Anti-Inflammatory Drugs (NSAIDs): Ibuprofen, Naproxen, Aspirin, Diclofenac, ket*orolac
2) By Anesthetics: Local Anesthetics, General Anesthetics
3) By Anticonvulsants: Gabapentin, Pregabalin, Carbamazepine, Topiramate
4) By Anti-Migraine Agents: Triptans, Ergot Alkaloids, CGRP Inhibitors
5) By Antidepressants: Tricyclic Antidepressants, SNRIs
6) By Opioids: Morphine, Oxycodone, Hydrocodone, Fentanyl
7) By Nonnarcotic Analgesics: Acetaminophen, Aspirin, Other Analgesics
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What Long-Term Drivers Are Shaping Pain Management Drugs Market Trends?
The proliferation of surgical procedures is predicted to fuel the expansion of the pain management drugs sector. Surgical operations are defined as medical practices that involve cutting into or penetrating body tissues to treat illnesses, conditions, or injuries, to modify physiological functions, or to enhance appearance. Pain management medications are important in surgeries as they assist in managing and relieving post-operative discomfort thereby significantly promoting patient comfort and recuperation. For example, in September 2023, the Global Survey 2022 report published by the International Society of Aesthetic Plastic Surgery, an American professional organization for board-certified aesthetic plastic surgeons, suggested an 11.2% general surge in operations conducted by plastic surgeons in 2022. The report revealed that a total of over 14.9 million surgical operations were performed globally. A consistent growth in aesthetic surgery has been noted over the prior four-year period, marking a 41.3% increase. As such, the upsurge in surgical procedures is propelling the growth of the pain management drugs market.
Who Are the Top Competitors in Key Pain Management Drugs Market Segments?
Major companies operating in the pain management drugs market include Novartis AG, Eli Lilly And Company, Abbott Laboratories, Endo International plc, Pfizer Inc., Merck & Co. Inc., Johnson & Johnson Services Inc., GlaxoSmithKline plc, AbbVie Inc., Bristol-Myers Squibb Company, Teva Pharmaceutical Industries Ltd., AstraZeneca plc, Bausch Health Companies Inc., Sanofi, F. Hoffmann-La Roche Ltd., Boehringer Ingelheim, Mallinckrodt Pharmaceuticals, Daiichi Sankyo Company Limited, Grünenthal GmbH, Mundipharma International Limited, Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Zydus Cadila, Lupin Pharmaceuticals Inc., Torrent Pharmaceuticals Ltd.
What Pain Management Drugs Market Trends Are Gaining Traction Across Different Segments?
Emerging technologies are the leading trend gaining traction in the pain management drugs market. Prominent companies within the market are actively focused on developing innovative technologies. As an illustration, in October 2024, Vertex Pharmaceuticals, which is a biotechnology company based in the US, announced substantial advancements in Suzetrigine (VX-548), used for treating acute and neuropathic pain. This innovative medication is specifically designed to offer effective pain relief, avoiding the standard side effects typically linked with traditional painkillers. The introduction of Suzetrigine is predicted to expand treatment alternatives for patients experiencing various pain conditions, thereby enhancing their quality of life. By pushing this pioneering therapy forward, Vertex is targeting unmet healthcare needs in pain management and positioning its brand as a forerunner in the pharmaceutical arena.
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Which Regions Are Becoming Hubs for Pain Management Drugs Market Innovation?
North America was the largest region in the pain management drugs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the pain management drug market report during the forecast period. The regions covered in the pain management drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Pain Management Drugs Market?
2. What is the CAGR expected in the Pain Management Drugs Market?
3. What Are the Key Innovations Transforming the Pain Management Drugs Industry?
4. Which Region Is Leading the Pain Management Drugs Market?
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