Pain Management Drugs Global Market 2024 To Reach $100.94 Billion By 2028 At Rate Of 5.6%
Pain Management Drugs Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, September 4, 2024 /EINPresswire.com/ — The pain management drugs market has experienced robust growth in recent years, expanding from $76.76 billion in 2023 to $81.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to rising chronic pain cases, rise in cancer cases, increased surgical procedures, improved pain assessment, government initiatives.
What Is The Estimated Market Size Of The Global Pain Management Drugs Market And Its Annual Growth Rate?
The pain management drugs market is projected to continue its strong growth, reaching $100.94 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to non-opioid alternatives, targeted therapies, precision medicine approaches, psychological interventions, focus on minimizing side effects.
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Growth Driver Of The Pain Management Drugs Market
An increasing rate of surgeries is expected to propel the growth of the pain management drugs market going forward. A surgical procedure refers to a medical intervention that involves the cutting or penetration of the body’s tissues to treat diseases, conditions, or injuries, or to alter bodily functions or improve appearance. Pain management drugs play a crucial role in surgeries by helping to control and alleviate post-operative pain, which can significantly improve patient comfort and recovery.
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Who Are The Key Players Shaping The Pain Management Drugs Market Trends?
Key players in the pain management drugs market include Novartis AG, Eli Lilly And Company, Abbott Laboratories, Endo International PLC, Purdue Pharma L.P., Pfizer Inc., Merck & Co. Inc.
What Are The Dominant Trends In Pain Management Drugs Market Growth?
Major companies operating in the pain management drugs market are developing drugs and receiving FDA approval to meet the needs of patients experiencing acute or chronic pain. FDA approval is the regulatory endorsement granted by the U.S. Food and Drug Administration, signifying that a medical product meets the necessary safety and efficacy standards for commercial distribution in the United States.
How Is The Global Pain Management Drugs Market Segmented?
1) By Drug Class: Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Anesthetics, Anticonvulsants, Anti-migraine Agents, Antidepressants, Opioids, Nonnarcotic Analgesics
2) By Indication: Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Back Pain, Postoperative Pain, Migraine, Fibromyalgia, Muscle sprain/strain, Bone fracture, Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Geographical Insights: North America Leading The Pain Management Drugs Market
North America was the largest region in the pain management drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the pain management drug market report during the forecast period. The regions covered in the pain management drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Pain Management Drugs Market Definition
A pain management drug refers to medication that reduces pain. They produce analgesia by actions at several levels of the nervous system such as, inhibition of neurotransmitter release from the primary afferent terminals in the spinal cord and activation of descending inhibitory controls in the midbrain.
Pain Management Drugs Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global pain management drugs market report covering trends, opportunities, strategies, and more
The Pain Management Drugs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pain management drugs market size, pain management drugs market drivers and trends, pain management drugs market major players, pain management drugs competitors’ revenues, pain management drugs market positioning, and pain management drugs market growth across geographies. The pain management drugs market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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