Cancer Pain Management Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis

Cancer Pain Management Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis

Global Cancer Pain Management Market is predicted to hit over US$ 7.80 Billion by 2030 according to Renub Research. Pain is a common and dreaded symptom experienced by individuals undergoing cancer treatment and long-term cancer survivors. Cancer pain can result from the disease itself, its treatments, or a combination of both and it may be acute or chronic, with some individuals experiencing pain long after treatment has ended. The number of people living with cancer-related pain is on the rise, due to the increasing number of long-term cancer survivors and the growing prevalence of cancer in older populations worldwide. With advances in cancer treatments, people are now living longer with advanced cancer, further contributing to the growing number of individuals with cancer-related pain.

The growing incidence of cancer-related pain and the effects of the opioid epidemic on the management of chronic pain have renewed efforts to develop new pain medications that are not addictive, as well as non-drug therapies for managing chronic pain. There is increasing recognition of the need for greater accessibility to pain management medications, which is driving the consumption and acceptance of these drugs over other therapeutic options. Consequently, the high levels of awareness, ease of access, fast-acting nature, and cost-effectiveness of pain management medications have made them a preferred choice over other therapy options.

Cancer Pain Management Market is expanding growth at a CAGR of 5.25% during the forecast period 2022 to 2030

Despite the existing treatment options, the cancer pain management industry is constantly looking for newer and more effective ways to manage pain in cancer patients. Key manufacturers in the industry are exploring the use of the network model for research and development to come up with innovative treatment options. Ongoing research and development efforts help businesses analyze new treatment combinations and their effectiveness in pain management. There is a shift in the industry towards developing personalized drugs, biologics, and quick-dose lifestyle medicines, which make up over 70% of the medications currently in development. The focus is no longer solely on managing symptoms, but on amending the disease itself. Manufacturers are also moving away from chemical-based medications and towards biologic products-based therapeutics. Sympathetic administrative reform is also helping to facilitate the development of novel and effective pain management medications. The Cancer Pain Management Market is valued at US$ 5.18 Billion in the year 2022.

Targeted Therapies is Fastest growing segment in the Cancer Pain Management Industry

By Treatment, Cancer Pain Management Market is divided into Inhibitors, Surgery Immunotherapy, Radiotherapy, Hormone Therapy, Chemotherapy, Targeted Therapies, and Others. Targeted therapies are an important and rapidly evolving field in cancer treatment, and they may play a significant role in managing pain associated with cancer. Targeted therapies are medications that are specifically designed to target the molecular pathways involved in the growth and spread of cancer cells.

By inhibiting the activity of certain proteins or molecules that promote cancer cell growth, targeted therapies can help to reduce the size of tumors and slow down their growth. The advantage of these therapies is that they typically spare normal cells from damage. Targeted therapies may also be used in combination with other treatments, such as chemotherapy, radiation therapy, or surgery, to manage pain associated with cancer. The development of new targeted therapies is an active area of research within the cancer pain management industry, with the aim of improving outcomes and quality of life for cancer patients.

Opioids Reported Foremost Market Stake in 2023

By Drug Type, Cancer Pain Management Market is sub-divided into Opioids, Non-Opioids and Nerve Blockers. Opioids drug are a category of medications frequently utilized to manage pain in cancer patients. These drugs operate by binding to particular receptors in the brain and spinal cord, which can alleviate pain. Opioids are effective for treating both short-term and long-term pain, and they can be administered in various forms, including tablets, patches, and injections.
However, their use should be approached with caution and personalized to each patient's unique requirements and situation, as opioids have potential risks and side effects. Healthcare providers should collaborate closely with their patients to design a thorough pain management strategy that evaluates the advantages and disadvantages of all possible options. Despite their risks, opioids continue to play a vital role in the cancer pain management industry.

Lung Cancer is projected to dominate the Disease Indication segment of Pain Management Market Revenue

By Disease Indication, Cancer Pain Management Market is classified into Lung Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Blood Cancer and Others. The lung cancer segment was the leading disease indication in the cancer pain market and is predicted to maintain its dominance throughout the forecast period. This is attributed to the rising incidence of lung cancer, high prevalence of pain associated with lung cancer, and the availability of effective cancer pain analgesics for treating lung cancer. However, the breast cancer segment is anticipated to experience significant market growth during the forecast period, owing to the increasing prevalence of breast cancer and greater adoption of pain analgesics in breast cancer treatment.

United States of America is estimated to have the Largest Market Share for Cancer Pain Management Market

By Country, Cancer Pain Management Market is break up into 10 major markets: United States, United Kingdom, Japan, France, Germany, Italy, Spain, Saudi Arabia, China and Korea. The cancer pain management industry in the United States is a crucial component of the global market. It is among the largest markets for cancer pain management worldwide, propelled by various factors such as the high incidence of cancer in the nation, increased awareness about the significance of pain management in cancer treatment, and access to advanced medical technologies and therapies. Furthermore, the market is reinforced by a well-established healthcare infrastructure, reimbursement policies, and government initiatives to enhance cancer care and pain management.

This industry is also highly dynamic, with a constant evolution of novel drugs and therapies, and has enormous growth potential in the upcoming years. As the importance of pain management in cancer care continues to gain recognition, and new drugs and therapies are developed, the United States cancer pain management market is poised for significant expansion.

Key Player Analysis

There are several leading competitors contending in Cancer pain management 10MM market. Some of the notable players in the industry include Daiichi Sankyo Co., Ltd., Hisamitsu Pharmaceutical Co., Inc., Orexo AB, Pfizer Inc, Teva Pharmaceutical Industries Limited, Sanofi, Johnson & Johnson and Eli Lilly.

Renub Research latest report “Cancer Pain Management 10MM Industry, Forecast By Treatment (Immunotherapy, Radiotherapy, Chemotherapy, Hormone Therapy, Targeted Therapies, Inhibitors, Surgery, Others), Drug Type (Opioids, Non-Opioids, Nerve Blockers), Disease Indication (Lung Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Blood Cancer, Others), Country (United States, United Kingdom, Japan, France, Germany, Italy, Spain, Saudi Arabia, China, Korea), Companies (Daiichi Sankyo Co., Ltd., Hisamitsu Pharmaceutical Co., Inc., Orexo AB, Pfizer Inc, Teva Pharmaceutical Industries Limited, Sanofi, Johnson & Johnson, Eli Lilly)” provides a detailed analysis of Cancer Pain Management 10MM Industry.

Treatment – Market has been covered from 8 viewpoints:

1. Immunotherapy
2. Radiotherapy
3. Chemotherapy
4. Hormone Therapy
5. Targeted Therapies
6. Inhibitors
7. Surgery
8. Others

Drug Type – Market has been covered from 3 viewpoints:

1. Opioids
2. Non-Opioids
3. Nerve Blockers

Disease Indication – Market has been covered from 6 viewpoints:

1. Lung Cancer
2. Colorectal Cancer
3. Breast Cancer
4. Prostate Cancer
5. Blood Cancer
6. Others

Country – Market has been covered from 10 viewpoints:

1. United States
2. United Kingdom
3. Japan
4. France
5. Germany
6. Italy
7. Spain
8. Saudi Arabia
9. China
10. Korea

Company Insights:

• Overview
• Recent Development
• Financial Insight

Companies Covered:

1. Daiichi Sankyo Co., Ltd.
2. Hisamitsu Pharmaceutical Co., Inc.
3. Orexo AB
4. Pfizer Inc
5. Teva Pharmaceutical Industries Limited
6. Sanofi
7. Johnson & Johnson
8. Eli Lilly