Pain Management Therapeutics Market Size | Share and Trends 2024 to 2034

Pain Management Therapeutics Market Size and Forecast 2024 to 2034

The global pain management therapeutics market size accounted for USD 84.96 billion in 2024 and is expected to reach around USD 123.37 billion by 2034, expanding at a CAGR of 3.8% from 2024 to 2034. The North America pain management therapeutics market size reached USD 24.56 billion in 2023.

Pain Management Therapeutics Market Key Takeaways

• North America led the global pain management therapeutics market with the highest market share of 30% in 2023.
• The NSAIDs segment emerged as the leading market stake in 2023.
• Neuropathic pain takes the lead in driving revenue within the pain management therapeutics market.
• Retail pharmacies are expected to lead in generating revenue for the Pain Management Therapeutics Market.

U.S. Pain Management Therapeutics Market Size and Growth 2024 to 2034

The U.S. pain management therapeutics market size was estimated at USD 17.22 billion in 2023 and is predicted to be worth around USD 26.51 billion by 2034, at a CAGR of 4% from 2024 to 2034.

The research study covers key prospects and trends of pain management therapeutics products throughout different regions including Europe, North America, Asia-Pacific, Middle East and Africa, and Latin America. Regionally, the pain management therapeutics market is dominated by North America due to high incidence of chronic disorders and the presence of skilled researchers. On the other hand, Asia-Pacific is anticipated to witness the rapid growth rate, on account of increasing investment by major manufacturers, increasing cases of accidents, and high production of generics in the region.

Market Overview

According to the data published by National Center for Complementary and Integrative Health, more than 20% of adult population in the United States was suffering from chronic pain and around 8% had severe chronic pain in the year 2018. In multiple studies it has been demonstrated that females are more susceptible to pain as compared to males. Almost 27% of women suffer from pain whereas around 24% of men undergo pain in the United States. Doctors generally prescribe Non-steroidal anti-inflammatory drugs (NSAIDs) in the initial phases of pain, followed by more targeted treatment selections. Prescription medicines are simple to use and are also economical when administered at a primary level. Augmented awareness about accessibility of medicines for pain management is driving the consumption and reception of pain management medications over other therapy options. Therefore, high awareness, easy access, quick action, and cost effectiveness have formed pain management medications more preferable over other therapy options. However, newer treatment options are constantly being tested. The key manufacturers are exploring effective ways to implement the network model for research and development. The continuing research and development help businesses to analyze new treatment combinations and its effectiveness for better pain administration. The focus is shifting towards personalized drugs, biologics, and quick dose lifestyle medicines that account for above 70% of the medications in development. The product lines are currently more inclined towards amending disease rather than concentrating on symptoms. Manufacturers are moving from chemical-based medications to biological products based therapeutics. Furthermore, the sympathetic administrative reform is also helping in the development of novel and active pain management medications.

Pain Management Therapeutics Market Growth Factors

• Increasing geriatric population
• Rising number of accidents worldwide
• Growing prevalence of chronic disorders
• Rise in per-capita healthcare expenditure
• Increasing number of surgeries
• Constant approvals for new easy-to-use and effective medications
• Increasing cases of cancer in developing regions
• Growing research and development expenditure

Market Scope

Drug Class Insights

NSAIDs recorded the major market stake in the worldwide pain management therapeutics market in 2023. Availability as over-the-counter drugs and low-cost are the major reason for high market share of NSAIDs. Other factors such as ease of use and quick relief from pain boost the demand for Non-steroidal anti-inflammatory drugs (NSAIDs).

Opioids are anticipated to advance at the maximum CAGR through the forecast period due to launch of new products and high use in the alleviation of cancer pain.

Indication Insights

Neuropathic pain is triggered by damage or ailment distressing the somatosensory nervous system. The neuropathic pain is mostly chronic in nature. Phantom limb syndrome is one example of neuropathic pain. This condition arises when a leg or an arm has been detached because of injury or illness, however the brain still receives pain messages through the nerves which formerly carried impulses from the absent limb. The misfiring of nerves causes pain. Due to the chronic nature of neuropathic pain, the pain-relieving medications are administered on a regular basis contributing to high revenue share.

Pain Management Therapeutics Market Companies

• Teva Pharmaceutical
• Pfizer
• Abbott
• Mallinckrodt Pharmaceuticals
• Endo International
• GlaxoSmithKline
• AstraZeneca
• Depomed
• Merck
• Novartis

Major Market Segments Covered

By Drug Class

• NSAIDs
• Opioids
• Anesthetics
• Antidepressants
• Anticonvulsants
• Others

By Indication

• Arthritic Pain
• Neuropathic Pain
• Chronic Back Pain
• Post-Operative Pain
• Cancer Pain
• Others

By Distribution Channel

• Online Pharmacy
• Retail Pharmacy
• Hospital Pharmacy

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa