Pain Management Drugs Market Size, Share, Trends, Growth, and Revenue Projections by 2027
Tejal Bele
Digital Marketing (Web Marketing) Healthcare | Life science | Pharmaceutical | Investor
Pain Management Drugs Market by Drug Class, (NSAIDS, Anesthetics, Anticonvulsant, Anti-Migraine Drugs, Antidepressant Drugs, Opioids, Non-Narcotics, and Analgesics), Indication (Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Pain, Post-Operative Pain, Migraine, Fibromyalgia, Bone Fracture, Muscle Sprain/Strain, Acute Appendicitis, and Other Indications), Pain Type (Chronic and Acute) : Global Opportunity Analysis and Industry Forecast, 2019–2027.
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Based on drug class, the opioids segment accounted for more than one-fourth of the global pain management drugs market share in 2019 and is expected to rule the roost by the end of 2027. High popularity of these drugs worldwide fuels the segment growth. The anti-migraine agents segment, on the other hand, would register the fastest CAGR of 4.7% throughout the forecast period.
According to the report, the global Pain Management Drugs Market?size was estimated at $71.43 billion in 2019, and is anticipated to hit $91.64 billion by 2027, registering a CAGR of 3.8% from 2020 to 2027.
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Increase in prevalence of chronic diseases, favorable regulatory scenario, and surge in the number of geriatric population drive the growth of the global pain management drugs market. On the other hand, availability of alternative therapies, drug exploitation, and patent expiration of prescribed drugs impede the growth to some extent. However, advancements in drug development and untapped markets in developing economies are expected to create lucrative opportunities for the market players in the industry.
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Based on pain type, the chronic pain segment held the highest share in 2019, generating 92% of the global pain management drugs market. The same segment would also register the fastest CAGR of 3.9% till 2027, owing to high popularity of these pain management drugs worldwide.
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Based on indication, the neuropathic pain segment contributed to nearly one-fifth of the global pain management drugs market revenue in 2019 and is anticipated to lead the trail by 2027. As per statistics by the International Association for the Study of Pain, almost 35% of the 33 million people with HIV globally suffer from neuropathic pain, thereby driving the segment growth. Presence of large patient population is the major factor that increases the demand for drugs for neuropathic pain. The cancer pain segment would manifest the fastest CAGR of 4.8% from 2020 to 2027.
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Based on geography, North America held the major market share in 2019, generating nearly half of the global pain management drugs market, owing to large number of aging population and favorable regulatory conditions. Asia-Pacific, on the other hand, would portray the fastest CAGR of 4.5% till 2027. This is attributed to presence of larger patient pool and increase in healthcare expenditure in the region
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8 个月It is interesting to know that pain management drugs will be increased by 2027. The expected increase is so scary. That will also increase the cases of drug addiction by then.