The global pain management drugs market reached a value of US$ 74 Billion in 2020. 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. Looking forward, the publisher expects the global pain management drugs market to exhibit moderate growth during the forecast period (2021-2026).
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, etc.
Key Questions Answered in This Report:
1. What was the global pain management drugs market size in 2020? 2. What are the key global pain management drugs market drivers? 3. Who are the leading pain management drug manufacturers? 4. What is the pain management drugs market breakup by distribution channel? 5. How will the global pain management drugs market perform over the next five years (2021-2026)? 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 are the major trends in the global pain management drugs market? 9. What is the impact of COVID-19 on the global pain management drugs market? 10. What are the major regions in the global pain management drugs market?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Pain Management Drugs Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Breakup by Drug Class 5.5 Market Breakup by Indication 5.6 Market Breakup by Distribution Channel 5.7 Market Breakup by Region 5.8 Market Forecast
9 Market Breakup by Region 9.1 North America 9.1.1 Market Trends 9.1.2 Market Forecast 9.2 Europe 9.2.1 Market Trends 9.2.2 Market Forecast 9.3 Asia Pacific 9.3.1 Market Trends 9.3.2 Market Forecast 9.4 Middle East and Africa 9.4.1 Market Trends 9.4.2 Market Forecast 9.5 Latin America 9.5.1 Market Trends 9.5.2 Market Forecast
14 Competitive Landscape 14.1 Market Structure 14.2 Key Players 14.3 Profiles of Key Players 14.3.1 Abbott Laboratories, Inc. 14.3.2 Pfizer, Inc. 14.3.3 Eli Lilly & Company 14.3.4 Endo International plc 14.3.5 F. Hoffmann-La Roche AG 14.3.6 Bausch Health Companies, Inc. 14.3.7 Merck & Co. Inc. 14.3.8 Allergen Inc. 14.3.9 Novartis International AG 14.3.10 Johnson & Johnson Private Limited 14.3.11 GlaxoSmithKline Plc 14.3.12 Purdue Pharma L.P