Pain Management Market Size to Reach USD 97.4 Billion by 2032| CAGR 3.1% | DataHorizzon Research

DataHorizzon Research
DataHorizzon Research

Fort Collins, Colorado, Sept. 07, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Pain Management Market Size, Share, Growth, Trends, Statistics Analysis Report, By Drug Class (NSAIDs, Anesthetics, Anticonvulsants, Anti-migraine Agents, Antidepressants, Opioids, Nonnarcotic Analgesics), By Devices, By Indication, by Pain Type, By Region And Segment Forecasts, 2023-2032."

According to DataHorizzon Research, the pain management market size was valued at USD 72.3 Billion in 2022 and is expected to reach USD 97.4 Billion by 2032 with a CAGR of 3.1%. The field of pain management offers clinical treatment to patients who suffer from an overdose of prescribed and synthetic opioids.

Numerous factors drive the pain management market. Rise in disposable income, access to clinical diagnosis and treatment, favorable reimbursement options, and the availability of better healthcare infrastructure are major drivers to the market growth. Growth in the patient pool with several conditions, such as arthritis, diabetes, cardiovascular diseases, respiratory and other chronic illnesses, has triggered the need for effective pain management methods.

Request Sample Report: https://datahorizzonresearch.com/request-sample-pdf/pain-management-market-2398

Pain Management Market Report Highlights:

  • The pain management market size is anticipated to reach USD 72.3 billion at a CAGR of 3.1% by 2032.

  • The rise in public awareness, favorable reimbursement options, and the availability of several treatment options will likely enable patients with pain management methods tailored according to patient needs.

  • By devices, neurostimulation is dominant and is used to deliver electrical impulses to specific nerves in the body.

  • NSAIDs accounted for a significant market share by drug class and are projected to remain dominant in the forthcoming years. Opioids are second leading with huge potential in the industry.

  • By region, North America is a significant market owing to its well-developed infrastructure and abundant workforce. High spending capacity on healthcare is one of the major growth highlights.

  • Some of the prominent players in the pain management market report include Pfizer Inc., Mylan N.V., Novartis International Ag, Eli Lily and Company, Merck & Co., Inc., Glaxosmithkline Plc (Gsk), Purdue Pharma L.P., Endo Health Solutions, Inc. (Endo International Plc.), Johnson & Johnson, and Abbott Laboratories.

Report Snapshot:

Report Title

Pain Management Market

Market Size in 2022

USD 72.3 Billion

Market Size by 2032

USD 97.4 Billion

CAGR from 2023 to 2032

3.1%

Largest Market

North America

Forecast Period

2023 to 2032

Historic Period

2021

Base Year

2022

Report Scope & Coverage

Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors

By Drug Class

NSAIDs, Anesthetics, Anticonvulsants, Anti-migraine Agents, Antidepressants, Opioids, Nonnarcotic Analgesics

By Devices

Neurostimulation Devices, Infusion Pumps, Ablation Devices

By Indication

Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Back Pain, Postoperative Pain, Migraine, Fibromyalgia, Muscle sprain/strain, Bone fracture, Acute appendicitis, Others

By Pain Type

Chronic pain, Acute pain

Region

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others

Major Market Players

Pfizer Inc., Mylan N.V., Novartis International Ag, Eli Lily and Company, Merck & Co., Inc., Glaxosmithkline Plc (Gsk), Purdue Pharma L.P., Endo Health Solutions, Inc. (Endo International Plc.), Johnson & Johnson, Abbott Laboratories

Segmentation Overview

The global pain management market has been segmented into drug class, devices, indication, pain type, and region. Due to their popularity in pain management, NSAIDs dominate the drug class segment. The rise in the use of neurostimulation devices is attributed to the growing cases of epilepsy and Parkinson’s disease.