Pain management market size worth USD 85300 million by 2027 at a CAGR of 4.50%

Pain management market trends and prospects by devices (neurostimulation, ablation devices, others), drugs (NSAIDs, anticonvulsants, opioids, others), indication (neuropathic pain, fibromyalgia, others), mode of purchase, Competitive End User Market Growth, Size, Share and Forecast to 2027

New York, U.S., Oct. 12, 2022 (GLOBE NEWSWIRE) — Overview of the pain management market

According to a comprehensive research report by Market Research Future (MRFR), “pain management market Information by Product, Form, Category, Distribution Channel and Region – Forecast to 2027“, the market is estimated to grow to achieve a CAGR of 4.50% during the estimated period of 2020-2027 and the market may reach USD 85,300 million by 2027.

Pain Management Market Synopsis

Pain is an uncomfortable sensory and emotional experience that follows tissue injury or disease. Additionally, several illnesses can be uncomfortable, including cancer, multiple sclerosis, osteoarthritis, stomach ulcers, chronic arthritis, fibromyalgia, and chronic gout. Acute pain can last for a short time, while chronic pain can last for a very long time. Acute pain can be mild, lasting just a split second, and can last for days, weeks, or even months. Injuries, damaged nerves, and age-related bone and joint disorders are major causes of chronic pain. To combat market addiction to opioids and some well-known painkillers, more and more non-opioid therapies are being used over time.

Several non-opioid drugs with mechanisms of action are either in the early stages of development or have already been developed. Regulators in many countries are moving to alternative methods, accelerating the approval of these products for the market. Change should happen gradually. Therefore, the field of pain management offers promising growth potential over the projection period.

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Report Scope:

Report attribute

Details

Market size in 2027

$85,300 million

CAGR

4.5%

Year of reference

2019

Forecast period

2020-2027

Historical data

2018

Forecast units

Value (USD million)

Report cover

Revenue forecasts, competitive landscape, growth factors and trends

Segments Covered

By device, drug, indication, mode of purchase and end user

Geographical areas covered

North America, Europe, Asia-Pacific and Rest of the World (RoW)

Key Market Drivers

The higher number of blood transfusions in surgeries and accident cases

The increased number of diagnostic tests and their use in different hospitals

Pain Management Market Competitive Landscape:

The main competitors in the pain management market are:

  • Abbott Laboratories

  • Stryker Company

  • Bayer AG

  • DJO Global LLC

  • Medtronic APIs

  • Pfizer Inc.

  • Halyard Health, Inc.

  • Eli Lilly & Company

  • Endo-health solution

  • Astellas Pharmaceuticals

  • Boston Scientific Society

  • Codman and Shurtleff, Inc.

  • F. Hoffmann-La Roche SA

  • Abbvie, Allergan

  • Astra Zeneca plc

  • B. Braun Melsungen AG

  • Becton, Dickinson and company

  • Merck & Co. Inc.

  • Forest laboratories

  • Mallinckrodt plc

  • medical smith

Covered USP market:

Market factors:

One of the major elements projected to support the expansion of the market over the forecast period is the growing prevalence of chronic disorders. The demand for muscle and nerve stimulators has increased as lifestyle issues like obesity and diabetes become more common. Another important aspect that is expected to contribute to the growth of the market is the increasing incidence of trauma or hypertension. The risk of developing brain aneurysms and other chronic disorders is markedly increased by hypertension. Since the elderly are more likely to suffer from joint pain and other chronic disorders, the growth of the geriatric population is the major factor driving the boom in the global pain medication market. The prevalence of chronic diseases such as cancer, diabetic neuropathy, and osteoarthritis is increasing, fueling the expansion of the market.

Additionally, the pain medication market is expected to grow owing to the increase in surgical operations and healthcare expenditures. However, market expansion is limited by the exploitation of the drug, the expiry of patents for prescription pain relievers and the accessibility of alternatives such as pain relief devices. Patients with long-term illnesses and physical trauma use a variety of state-of-the-art pain management devices, from managing chronic pain to treating postoperative pain. Therefore, the rapid increase in chronic diseases including diabetes, cancer and mental disorders and rising accident rates will continue to significantly drive the pain management devices market during the projection period. .

Market constraints:

To a large extent, the growth of the pain management market is dependent on rising surgical rates and increasing consumer demand for medical services. However, market growth is limited by drug addiction, the loss of patent protection for painkillers, and the availability of substitutes such as discomfort reduction devices.

Browse the in-depth market research report (100 pages) on pain management: https://www.marketresearchfuture.com/reports/pain-management-market-5975

COVID 19 Analysis of the Pain Management Market

Millions of people around the world have already been affected by the COVID-19 outbreak caused by the SARS-CoV-2 virus. The spread of the dangerous coronavirus is having economic repercussions in various industries, including medical devices. The statewide lockdown has disrupted patients who relied primarily on exercise routines or physical therapy as a pain management regimen. The demand for home pain management is also expected to increase due to the suspension or delay of many elective procedures and in-person patient visits. The elective nature of most chronic pain care has negatively impacted patient psychological well-being during the outbreak.

Patients with acute pain during the COVID-19 outbreak went untreated because they were reluctant to go to hospital for fear of getting sick. On the other hand, the social isolation of the pandemic prompted passive coping mechanisms, which resulted in despair and anxiety. Thus, the COVID-19 outbreak has had a significant impact on the global pain treatment market.

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Pain management market segmentation

By purchase mode, the marketplace includes over-the-counter products and solutions. Based on pain management devices, the pain management market includes pain relief mixing siphons, neurostimulation devices, and suppression gadgets.

By end use, the pain management market includes pharmaceutical organizations, clinical gadget organizations, emergency clinics and facilities, examinations, educational institutions, and others. Based on pain management drug types, the pain management market includes nonsteroidal anti-inflammatory drugs (NSAIDs), narcotics, migraine medications, anticonvulsants, sedatives, and antidepressants.

Based on indications, the pain management market includes joint torment, neuropathic torment, disease-related torment, musculoskeletal torment, fibromyalgia, facial agony and headache, as well than the persistent torments of the back.

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Regional Overview of Pain Management Market

Due to the region’s excellent healthcare infrastructure, which facilitates obtaining state-of-the-art pain management products, North America accounted for the largest revenue share. Additionally, the market is growing due to expanding government initiatives and a carefully thought out reimbursement environment in this region. The presence of well-established healthcare facilities, growing elderly population, and high prevalence of hypertension and stroke are other factors driving the regional market.

During the projected period, the Asia-Pacific market is expected to grow at the fastest rate. Investments in R&D that result in cutting-edge healthcare treatment choices could be behind this rise. Moreover, the existence of numerous trade agreements enhances the potential for market expansion in the region.

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