Pain Management Therapeutics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Pain Management Therapeutics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : November, 2020 | Pharmaceutical | PPT format

Report Digest


Global Pain Management Therapeutics Market: Snapshot

Pain is invariably around whenever a body is suffering from diseases, which can be of multiple types including fibromyalgia, stomach ulcer, osteoarthritis, chronic arthritis, diabetic neuropathy, and cancer. Even during and after the therapy, pain constitutes a major part of the procedure that the subject has to bear but with technological advancements, it has become possible to considerably reduce the suffering and manage the pain via a variety of physiological mechanism, targeting the nociceptors for example. As the investments on robust infrastructure escalates across various emerging and developed countries, and awareness regarding the availability of alternatives increase, the demand in the global pain management therapeutics market is projected to increment at a healthy CAGR during the forecast period of 2017 to 2025.

Currently, the developed regions of North America and Europe serve the maximum demand in the pain management therapeutics market, although highly populated emerging economies in Asia Pacific such as India and China are expected to turn into a profitable market towards the end of the forecast period.

In the current scenario, the global pain management therapeutics market is highly competitive, with the leading players constantly striving to come up with new products that are more efficient and hence gives them an edge over their competitors. In the current scenario, Purdue Pharma LP and Pfizer lead the market with nearly half the global shares, although the likes of Depomed Inc. and AstraZeneca Plc gaining ground. There is a strong presence of conventional medicines for pain management, which will keep the competitive landscape saturated throughout the forecast period. In the near future, a number of medium and small generic drugs manufacturers are expected to have a foray into pain management therapeutics market too, which will further intensity the tussle for the pole position. 

Pain Management Therapeutics Market: Overview 

Pain management therapeutics comprise various methods to ease varied degrees of pain among patients and improve their quality of life. Pharmaceutical therapeutics are usually the first line of treatment for pain management and if this does not work, patients opt for other methods such as pain managing devices, physiotherapy, and chiropractic therapy. 

Pain management therapeutics can be categorized into antidepressants, anticonvulsants, opioids, anesthetics, antimigraine agents, non-steroidal anti-inflammatory drugs (NSAIDS), and non-narcotic analgesics. Various drugs are used for the management of different kinds of pain, such as fibromyalgia, neuropathic pain, arthritic pain, chronic back pain, post-operative pain, migraine, and cancer-related pain. A common trend that has been observed among patients is the consumption of over-the-counter (OTC) drugs rather than prescription drugs. 

Pain Management Therapeutics Market: Trends 

The growing prevalence of chronic diseases such as diabetes and cancer has been single-handedly driving the demand for pain management therapeutics and the number of people suffering from this kind of pain has been surging at a substantial rate. In addition to this, a massive geriatric population susceptible to arthritis, nerve damage, neuropathy, and joint pain is also boosting the market for pain management therapeutics. Supplementing market growth are favorable regulatory scenarios in many developed countries around the world. 

However, as more and more patients opt for generic pain management drugs, the branded segment has been suffering a major setback. Moreover, the patent expiries of a number of blockbuster drugs will have a significant impact on the overall market for pain management therapeutics. 

Pain Management Therapeutics Market: Market Potential 

Despite the fact that leading brands are nearing a point of saturation, the pain management therapeutics market possesses strong potential for growth, particularly for smaller players. For instance, looking to expand its footprint in the global market as well as strengthen its U.S. pharmaceutical unit, Ireland-based Endo International plc acquired Auxilium Pharmaceuticals in 2015. The company also launched the BELBUCA Bucccal Film in 2016, which is used for the management of chronic pain. 

Purdue Pharma, headquartered in Connecticut, U.S., ventured into a patent agreement with Acura Pharmaceuticals, Inc. and Egalet Corporation in 2016 for the development and sales of opioid pain management medicines. 

Pain Management Therapeutics Market: Regional Outlook 

Geographically, the global market for pain management therapeutics comprises North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America and Europe hold the largest share in the overall market and are slated to continue their dominance throughout the forecast period. The rising consumption of advanced pain management drugs and the availability of well-established and sophisticated healthcare infrastructure are the key factors driving the North America and Europe pain management therapeutics market. Asia Pacific is an immensely lucrative region and a number of players are looking to expand their operations in the many emerging countries in the region. This can be attributed to strong economic growth in nations such as China, India, Malaysia, and Japan, rising investments in the healthcare industry in these countries, and the increasing affordability of the population. 

Pain Management Therapeutics Market: Competitive Analysis 

There are a host of generic as well as branded drug manufacturers in the global pain management therapeutics market. These include GlaxoSmithKline plc, Novartis AG, Johnson & Johnson, Abbott Laboratories, AstraZeneca, Teva Pharmaceutical Industries Limited, Merck & Co., Inc., Purdue Pharma L.P., Endo Pharmaceuticals, Inc., Mallinckrodt Pharmaceuticals, Depomed, Inc., and Pfizer, Inc. Although companies producing branded pain management therapeutics have a strong foothold in the market, the market is actually dominated by generic drug manufacturers, giving small- and medium-scale players immense scope for growth. 

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?