Pain Management Market Revenue to Register a Growth of 7.30% CAGR Anticipated to Top USD 12.19 Billion by 2030
Research Reports
Aug 22, 2023
Pain Management Market Research Report Information By Types (Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Anticonvulsants, Sedatives, Narcotics, Antimigraine specialists, Antidepressants, Others), By Indication (Delegated Neuropathic Torment, Disease Torment, Facial Agony and Headache, Musculoskeletal Torment, Fibromyalgia, Persistent Back Torment, Joint Torment, Headache, Post-Usable Torment), By Mode of Purchase (Over the Counter, Solution-based), By End-User (Emergency clinics and facilities, Drug organizations, Clinical gadget organizations, Examination, Educational establishments, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
The pain management market is expected to grow significantly in the coming years, driven by the growing demand for non-opioid analgesics. The global market was valued at USD 2.20 billion in 2022 and is projected to reach USD 12.19 billion by 2030, at a CAGR of 7.30%.
The growth of the market is being driven by several factors, including the increasing prevalence of chronic pain, the rising number of aging population, and the growing awareness of the risks associated with opioid use. Non-opioid analgesics are pain relievers that do not contain opioids. They are often preferred over opioids due to their lower risk of addiction and overdose.
Competitive Analysis
Some of the key players in the global pain management market are
- Abbott Laboratories
- Stryker Corporation
- Codman And Shurtleff, Inc
- Hoffmann-La Roche Ltd
- Abbvie
- Allergan
- AstraZeneca plc
- Bayer AG
- DJO LLC
- Eli Lilly & Company
- Endo Health Solution
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Market Segmentation
The global pain management market is segmented on the basis of type of pain management devices, type of pain management drugs, indication, mode of purchase, and end-user.
On the basis of type of pain management devices, the market is classified as neurostimulation devices, analgesic infusion pumps, and ablation devices. Neurostimulation devices are further segmented into Transcutaneous Electrical Nerve Stimulation (TENS) devices and Spinal Cord Stimulation (SCS) devices. Ablation devices are further segmented into RF ablation devices and cryoablation devices.
On the basis of type of pain management drugs, the market is classified as Non-Steroidal Anti-Inflammatory Drugs (NSAIDS), anticonvulsants, anesthetics, opioids, antimigraine agents, antidepressants, and others. The opioids segment is further classified as oxycodones, hydrocodones, tramadol, morphine, codeine, fentanyl, meperidine, methadone, and others.
On the basis of indication, the market is classified as neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, fibromyalgia, chronic back pain, arthritic pain, migraine, post-operative pain, and others.
On the basis of the mode of purchase, the market is classified as over the counter and prescription-based.
On the basis of end-user, the market is classified as hospitals and clinics, pharmaceutical companies, medical device companies, research and academic institutes, and others.
Regional Analysis
Asia Pacific is the fastest growing pain management market owing to a huge patient pool, increasing demand for treatments, and increasing healthcare expenditure.
Due to the rising prevalence of chronic pain, advanced technology, high healthcare spending, and presence of major players, the Americas dominate the global market for pain treatment. Over 100 million adult Americans live with chronic pain, according to a 2017 study that was published in the Drug and Alcohol Dependence Journal.
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The two conditions that are most frequently diagnosed are chronic low back pain and headaches. Furthermore, the prevalence of these disorders is reported to be 34.3% in women and 26.7% in men in the United States.
The pain management market is second to none in Europe. The market for pain management in Europe is anticipated to be driven by rising contributions to research & development as well as rising marketing competition.
The Middle East and Africa holds the lowest share of the global pain management market due to low development, lack of technical knowledge, and poor medical facilities.
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