Pain Management Therapeutics Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Global Pain Management Therapeutics Market Size accounted for USD 75.3 Billion in 2022 and is projected to achieve a market size of USD 120.9 Billion by 2032 growing at a CAGR of 4.4% from 2023 to 2032.

Pain Management Therapeutics Market Key Highlights

• Global pain management therapeutics market revenue is expected to increase by USD 120.9 Billion by 2032, with a 4.4% CAGR from 2023 to 2032
• North America region led with more than 38% of pain management therapeutics market share in 2022
• According to the World Health Organization, around 1 in 5 adults worldwide suffer from moderate to severe chronic pain
• Pain affects millions of people worldwide, with estimates ranging from 20% to 50% of the adult population experiencing chronic pain
• According to the Centers for Disease Control and Prevention, in 2019, there were over 49,000 opioid overdose deaths in the United States alone
• Increasing use of alternative therapies, such as acupuncture and yoga, drives the pain management therapeutics market size

Pain management therapeutics refers to the use of drugs and other treatments to alleviate or manage pain in patients suffering from acute or chronic pain. These treatments include nonsteroidal anti-inflammatory drugs (NSAIDs), opioids, anticonvulsants, antidepressants, and topical analgesics. Pain management therapeutics is a critical area of medicine, as pain can significantly reduce the quality of life and impact a patient's ability to function normally.

The market for pain management therapeutics has seen significant growth in recent years and is expected to continue growing in the coming years. The increasing prevalence of chronic pain conditions, such as arthritis and back pain, and the growing elderly population are major factors driving the market growth. Additionally, advancements in drug development, such as the introduction of abuse-deterrent opioids, and increasing demand for non-opioid pain management options are also contributing to the growth of the market. However, concerns over the misuse and abuse of opioid pain medications, and increasing government regulations on their use, are expected to hinder market growth to some extent.

Global Pain Management Therapeutics Market Trends

Market Drivers

• Increasing prevalence of chronic pain conditions
• Growing elderly population
• Advancements in drug development
• Increasing demand for non-opioid pain management options
• Rising awareness about pain management therapies

Market Restraints

• Concerns over the misuse and abuse of opioid pain medications
• Stringent government regulations on opioid prescribing and dispensing

Market Opportunities

• Increasing use of alternative therapies, such as acupuncture and yoga
• Growing focus on personalized medicine and precision pain management

Pain Management Therapeutics Market Report Coverage

The increasing population of the world finds itself in high chronic pain epidemics; hence the necessity to handle chronic pain as a publically declared health issue by scholars and public health practitioners is witnessing significant strength. Presently, around 20% of the world’s total population suffers from chronic pain. Various factors such as an increased number of surgeries, changing lifestyles, rising prevalence of chronic diseases, and rising geriatric population continue to add approximately 10% new patients to the aforementioned numbers every consecutive year. Pain management also called algiatry is a branch of medicinal studies that utilizes an interdisciplinary approach to facilitate and improve the overall quality of life. Pain is the ultimate result of tissue damage or trauma and the intensity of pain varies from person to person. Pain can be bifurcated on the basis of its duration and occurrence and coupled with the affected body part. The very first stage of treatment of pain is termed pain killer drugs or pharmaceutical therapeutics. Various other pain management procedures include pain management devices, physiotherapy, and chiropractic therapy. Pain is usually defined as a type of unpleasant physical sensation generally caused by any injury or illness. The pain management field is categorized on large scale into medicinal and physical treatment. Several cancer therapies result in pain and trauma injuries and have fueled the demand for efficient pain management services. The increasing focus of pain management service providers on the commercialization of pain management drugs with minimal side effects, ambulatory pain management solutions, and reformed reimbursement policies are some of the key factors shaping the growth prospect of the pain management therapeutics market, globally.

Increased focus on palliative care treatment, reimbursement for pain management treatment, supportive regulations, and growing healthcare expenditures coupled with the increasing prevalence of cancer patients are some of the key factors surging the growth of the overall global pain management therapeutics market value. Moreover, the strong prevalence of chronic pain ailments, efficient and effective treatment options as well as favorable regulatory framework are some of the major drivers propelling the growth of the global pain management therapeutics market. Also, the consistent focus of medical device manufacturers to come up with cost-effective products and an increase in the number of trauma cases along with accidental injuries is fuelling the global pain management therapeutics market growth. However, limited availability, lack of awareness of advanced pain medication, chronic side effects, and higher probabilities of addiction to pain medicines is expected to impede the growth of the global pain management therapeutics market.

Pain Management Therapeutics Market Segmentation

The global pain management therapeutics market segmentation is based on drug class, indication, distribution channel, and geography.

Pain Management Therapeutics Market By Drug Class

• NSAIDs
• Anticonvulsants
• Opioids
• Antidepressants
• Anesthetics
• Others

According to the pain management therapeutics industry analysis, the NSAIDs segment accounted for the largest market share in 2022. NSAIDs are a class of drugs used to reduce inflammation and pain, and they are commonly used to manage pain caused by conditions such as arthritis, menstrual cramps, and muscle strains. The growth of the NSAIDs segment can be attributed to several factors. First, the increasing prevalence of chronic pain conditions is driving demand for pain relief options, including NSAIDs. Additionally, NSAIDs are generally less expensive and have fewer side effects compared to other pain management options such as opioids, making them a popular choice for patients and healthcare providers. Furthermore, advancements in drug development have led to the introduction of new formulations of NSAIDs with improved safety and efficacy profiles.

Pain Management Therapeutics Market By Indication

• Arthritic Pain
• Post-Operative Pain
• Neuropathic Pain
• Cancer Pain
• Chronic Back Pain
• Others

In terms of indications, the neuropathic pain segment is expected to witness significant growth in the coming years. Neuropathic pain is a type of chronic pain caused by nerve damage or dysfunction, and it is often difficult to treat. This type of pain is commonly associated with conditions such as diabetic neuropathy, postherpetic neuralgia, and neuropathic pain caused by spinal cord injuries. The growth of the neuropathic pain segment can be attributed to several factors. First, the increasing prevalence of conditions such as diabetes and chronic pain is driving demand for effective pain relief options for neuropathic pain. Second, advancements in drug development have led to the introduction of new treatments specifically designed for neuropathic pain, including anticonvulsants, antidepressants, and topical medications. Finally, growing awareness and understanding of neuropathic pain among healthcare providers and patients is leading to earlier diagnosis and treatment.

Pain Management Therapeutics Market By Distribution Channel

• Online Pharmacy
• Hospital Pharmacy
• Retail Pharmacy

According to the pain management therapeutics market forecast, the online pharmacy segment is expected to witness significant growth in the coming years. Online pharmacies, also known as e-pharmacies, allow patients to purchase prescription and over-the-counter medications online and have them delivered directly to their homes. The growth of the online pharmacy segment can be attributed to several factors. First, the increasing use of the internet and smartphones has made it easier for patients to access healthcare services and purchase medications online. Second, online pharmacies offer convenience and privacy for patients who may prefer to purchase medications from the comfort of their own homes. Third, online pharmacies often offer lower prices compared to brick-and-mortar pharmacies, which can be especially beneficial for patients who require long-term pain management therapy.

Pain Management Therapeutics Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)