Global Pain Management Drugs Market Competitive Landscape, Top Market Segments, And Fastest Growing Regions
30 May, 2023
The global pain management drugs market size is expected to grow from $72.60 billion in 2022 to $76.76 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global pain management drugs market size is expected to reach $92.15 billion in 2027 at a CAGR of 4.7%.
Global Pain Management Drugs Market Key Driver
The growing geriatric population is projected to drive the growth of the pain management medications market in the future. People aged 65 and up comprise the geriatric population. Pain management pharmaceuticals are frequently administered to senior patients to reduce the pain of arthritis, cancer, neurological disorders, and other conditions that are more common in later life; thus, the ageing population is predicted to raise the pain management drugs market.
Get a sample of the global pain management drugs market reportGlobal Pain Management Drugs Market Segments
The global pain management drugs market is 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
4) By Geography: The regions covered in the pain management drugs market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global pain management drugs market.
Major Pain Management Drugs Industry Players
Novartis AG, Eli Lilly And Company, Abbott Laboratories, Endo International plc, Purdue Pharma L.P., Pfizer Inc., Merck & Co. Inc., Johnson & Johnson Services Inc., GlaxoSmithKline plc, AbbVie Inc., Bristol-Myers Squibb Company, Teva Pharmaceutical Industries Ltd., AstraZeneca plc, Mylan N.V., Bausch Health Companies Inc.
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Pain Management Drugs Market Overview
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 2023 provides data on the global pain management drugs market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The pain management drugs market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.