Pain Management Drugs Market 2030
Pain management drugs market is projected to reach $91,649.16 million by 2027, registering a CAGR of 3.8% from 2020 to 2027.
PORTLAND, OREGON, UNITED STATES, March 13, 2023 /EINPresswire.com/ — The pain management drugs market is a growing industry that includes a range of pharmaceutical products used to manage pain. This market includes both prescription and over-the-counter medications, as well as non-pharmaceutical interventions such as medical devices and physical therapy. Pain management drugs market was valued at $71,431.85 million in 2019, and is projected to reach $91,649.16 million by 2027, registering a CAGR of 3.8% from 2020 to 2027.
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The report provides some of the key players operating in the market include Abbott Laboratories Novartis AG, Eli Lilly & Company, Abbott Laboratories, Endo Health Solutions, Inc., Purdue Pharma L.P., Pfizer, Inc., Mylan NV., Merck & Co. Inc., Johnson & Johnson, and GlaxoSmithKline Plc. The other prominent players in the value chain include Allergen Inc., Bayer AG, Bristol-Myers Squibb, Valeant Pharmaceuticals International Inc., Boehringer Ingelheim, Sorrento Therapeutics, WEX Pharmaceuticals, and Zynerba Pharmaceuticals.
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Some of the most commonly used pain management drugs include nonsteroidal anti-inflammatory drugs (NSAIDs) such as aspirin, ibuprofen, and naproxen, as well as opioids such as morphine, oxycodone, and hydrocodone. Other pain management drugs include antidepressants, anticonvulsants, muscle relaxants, and topical analgesics.
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The market for pain management drugs is driven by factors such as the growing prevalence of chronic pain conditions, an aging population, and the increasing availability of these drugs through various distribution channels such as online pharmacies and retail chains. However, concerns over the potential for abuse and addiction associated with opioid painkillers have led to increased scrutiny and regulation of these drugs.
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By drug type, the opioids segment occupied 26.5 % share of the pain management drug market in 2019.
By indication, the postoperative pain segment is anticipated to grow with the highest CAGR throughout the forecast period.
By pain type, the chronic pain segment accounted for the largest share.
By region, North America is anticipated to experience growth at 3.6% during the forecast period.
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