Pain Relief Therapeutics Market

Industry Insights-

• The Global Pain Relief Therapeutics Market was valued at USD 7041.2 Million in 2021
• It is anticipated to reach USD 20880.7 Million by 2028
• A CAGR of 16.8% is anticipated over the forecast period

Overview-

An unpleasant sensation that can range from mild to localized discomfort and which occurs due to tissue damage or illness. The duration of pain differs from short term known as acute pain to long term known as chronic pain. Pain that occurs quickly, but lasts for shorter duration of time such as 3 to 6 months is called acute pain. Pain that lasts for more than 12 weeks and is arising from an initial injury, such as a back sprain is called as Chronic Pain.

The symptoms of Pain are weakness, fever, muscle cramps, abdominal pain, blood in stool, cough, diarrhea, difficulty swallowing and dizziness. There is no such test that can measure and locate pain with precision. So, doctors relay on the patient’s own description of the type, timing, and location of pain. Description of pain such as sharp or dull, constant or on-and-off, or burning or aching might give the best clues to the cause of the pain. These descriptions are called as the pain history, taken during the start of the evaluation of a patient with pain.

Moreover chronic pain can occur in a various part of body and for different reasons so patients and their doctors must work together to recognize the causes and symptoms of that pain and how it can be treated in early stage.

Although technology can help doctors for diagnosis, the best treatment plans are personalized to the person, with efforts from healthcare team, who all have different training backgrounds and understand chronic pain. The person suffering from pain and his or her loved ones also must be actively involved in the treatment. Drugs used to treat Pain are Acetaminophen, Codeine, Ibuprofen, Morphine, and many mores.

Covid-19 Impact-

The pain relief therapy market is facing a decline due to unfavorable changes in regulations and guidelines. Cancer patients, who are at a higher risk of contracting COVID-19, have led to the postponement of screening, diagnostic exams, and surgical procedures at hospitals and cancer treatment centers. This has resulted in delays in elective surgeries, screening procedures, and neurostimulation procedures, and the trend is expected to continue until late December 2020. Caregivers and hospitals should brace themselves for further disruption in the market for pain relief therapy.

Key Players-

Some of the key players for global Pain Relief Therapeutics Market are-

• Eli Lilly & Company
• Abbott Laboratories
• Endo Health Solutions Inc.
• Purdue Pharma L.P.
• Pfizer Inc.
• Hoffmann La Roche Ltd.
• Merck & Co. Inc.
• GlaxoSmithKline Plc.
• Bayer AG
• Bristol-Myers Squibb
• Valeant Pharmaceuticals International Inc.
• BoehringerIngelheim
• Achelios Therapeutics
• Amgen Inc.
• Cara Therapeutics
• Mallinckrodt Pharmaceuticals
• others

Segmentation Analysis-

By Therapeutics- 

• Non-steroidal Anti-inflammatory Drugs (NSAID’s)
• Anesthetics
• Anticonvulsant
• Antimigrane Agents
• Antidepressants
• Opioids
• Nonnarcotic Analgesics
• Others

By Indication-

• Arthritic Pain
• Cancer Pain
• Neuropathic Pain
• Chronic back Pain
• Post-operative Pain
• Migraine
• Fibromyalgia
• Others

By Distribution channel-

• Hospital Pharmacy
• Drug Stores
• Online Pharmacy
• Others

By Regional & Country Level-

• North America

• U.S.
• Canada

• Europe

• U.K.
• France
• Germany
• Italy

• Asia Pacific

• China
• Japan
• India
• Southeast Asia

• Latin America

• Brazil
• Mexico

• Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

The global pain relief therapeutics market is segmented on the basis of therapeutics, indication, distribution channel and geography. On the basis of therapeutics, global pain relief therapeutics market is classified as non-steroidal anti-inflammatory drugs (NSAID’s), anesthetics, anticonvulsant, antimigraine agents, antidepressants, opioids, nonnarcotic analgesics, and others. On the basis of indication global pain relief therapeutics market is classified into arthritic pain, cancer pain, neuropathic pain, chronic back pain, post-operative pain, migraine, fibromyalgia, and others. On the basis of distribution channel global pain relief therapeutics market is classified as hospital pharmacy, drug stores, online pharmacy and other.

Market Drivers-

Rising geriatric population and increasing incidence of chronic diseases

Rising geriatric population and increasing incidence of chronic diseases such as nerve damage, depression, epilepsy, bone or joint pain, and injuries etc., are key factors driving growth of Global Pain Relief Therapeutics Market. Changing lifestyle, early onset of aging, and increasing awareness about of pain management therapeutics are other growth drivers of the Global Pain Relief Therapeutics Market.

However, side-effects such as allergic reactions including rash, itching and swelling of face, throat and tongue caused by certain Pain Relief Therapeutics is a key factor restraining growth of the Global Pain Relief Therapeutics Market. Additionally, availability of other generic pain relief therapeutics, increasing preference for this generic pain relief therapeutics by the general population and drug abuse are major factors that expected to hinder growth of the global pain relief therapeutics market over the forecast period.

Favorable regulations are playing a key role in the increased rate of development

Additionally, favorable regulations are playing a key role in the increased rate of development, approval, and commercialization of novel molecule combinations and drug delivery techniques in the global pain relief therapeutics market sector. The advancements in drug development and the investigation of a large number of regulatory healthcare reforms, favoring development of methods for the improved diagnosis and treatment of chronic pain, will help the Global Pain Relief Therapeutics Market tread along a promising growth path in the next few years.

Market Opportunities-

Government investments specially for healthcare interoperability to create opportunities

The federal government's increased funding to promote the adoption of these solutions has a strong influence on the market. Moreover, the rise in healthcare spending, the development of healthcare infrastructure, and the high demand for expanded care delivery are all factors that are contributing to the growth of the pain relief therapy market.

Recent Developments-

• In January 2020, Medtronic launched Efficio, a cloud-based data management software designed to streamline the use of its SynchroMed II intrathecal drug delivery system. This software helps clinicians more effectively manage their targeted drug delivery pump treatments for patients suffering from chronic pain, cancer, and severe spasticity.
• In November 2020, Abbott introduced the IonicRF Generator, a minimally invasive device that uses heat energy to target certain nerves for the management of chronic pain.
• In June 2019, Boston Scientific acquired Vertiflex, Inc. (US), a privately held developer of the Superion Indirect Decompression System. This system is a minimally invasive device used to alleviate physical functions and reduce pain in patients with lumbar spinal stenosis (LSS).
• In February 2019, Stryker acquired Arrinex (US), a medical device company that developed ClariFix, a novel cryoablation technology for treating chronic rhinitis. ClariFix is a breakthrough technology that offers a minimally invasive solution for treating this condition.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2021:	USD 7041.2 Million
Base year considered	2021
Forecast Period CAGR %:	16.8%
Market Size Expected in 2028:	USD 20880.7 Million
Tables, Charts & Figures:	175
Pages	300
Players	Eli Lilly & Company, Abbott Laboratories, Endo Health Solutions Inc., Purdue Pharma L.P., Pfizer Inc., Hoffmann La Roche Ltd., Merck & Co. Inc., GlaxoSmithKline Plc., Bayer AG, Bristol-Myers Squibb, Valeant Pharmaceuticals International Inc., BoehringerIngelheim, Achelios Therapeutics, Amgen Inc., Cara Therapeutics, Mallinckrodt Pharmaceuticals, and others.
Segments Covered	By Therapeutics, By Indication, By Distribution Channel
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa