Pain Management Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Pain Management Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global pain management drugs market size reached US$ 67.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 85.3 Billion by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.

Pain management drugs perform pharmacological actions on pain receptors and work against discomfort-causing symptoms. These medications provide relief from the distressing feeling caused due to various health issues, such as osteoarthritis, chronic arthritis, diabetic neuropathy, multiple sclerosis and cancer, by acting through different physiological functions. In recent years, medical advancements have led to the introduction of novel combinations and newer drug delivery techniques that provide improved pain management.

One of the key factors driving the global market is the rising geriatric population across the globe. In 2018, the population of people aged 60 years and above was around 991 million. This population is projected to reach 1.18 billion by 2024. With the prevalence of chronic pain being significantly higher in older adults, the demand for pain management drugs is escalating across the globe. Furthermore, a rise in the number of hospitalization cases and a huge demand-supply gap for effective neuropathic pain management drugs have led to the emergence of innovative and advanced therapies and medicines. Moreover, the leading pharmaceutical companies are investing heavily in research and development (R&D) activities to develop analgesics or painkillers that are safer, more effective, economically viable and easier to administer. Other factors, including rising healthcare expenditure, improving R&D, increasing consumer awareness, and significant government support for improving healthcare services, are driving the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global pain management drugs market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on drug class, indication and distribution channel.

Breakup by Drug Class:

NSAIDs
Anesthetics
Anticonvulsants
Antimigraine Agents
Antidepressants
Opioids
Others

Breakup by Indication:

Musculoskeletal Pain
Surgical and Trauma Pain
Cancer Pain
Neuropathic Pain
Migraine Pain
Obstetrical Pain
Fibromyalgia Pain
Burn Pain
Dental/Facial Pain
Pediatric Pain
Others

Breakup by Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the pain management drugs companies being Abbott Laboratories, Inc., Pfizer, Inc., Eli Lilly & Company, Endo International plc, F. Hoffmann-La Roche AG, Bausch Health Companies, Inc., Merck & Co. Inc., Allergen Inc., Novartis International AG, Johnson & Johnson Private Limited, GlaxoSmithKline Plc and Purdue Pharma L.P.

Key Questions Answered in This Report

1. What was the global pain management drugs market size in 2022?
2. How will the global pain management drugs market perform over the next five years 2023-2028?
3. What is the impact of COVID-19 on the global pain management drugs market?
4. What are the key global pain management drugs market drivers?
5. What are the major trends in the global pain management drugs market?
6. What is the leading drug class in the global pain management drugs market?
7. What is the major indication in the global pain management drugs market?
8. What is the global pain management drugs market breakup by distribution channel?
9. What are the major regions in the global pain management drugs market?
10. Who are the leading pain management drug manufacturers?