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

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

Report Snapshot:

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.

North America is the dominant market for pain management owing to the abundance of clinical workforce in the regional market. An increase in the millennial population with chronic pain is projected to contribute to the demand. Asia Pacific is the second leading market, attributed to the rise in the aging population with huge medical needs.

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Key Developments in the Industry:

• In 2023, a guideline released by the American Dental Association Science & Research Institute (ADASRI), the University of Pittsburgh School of Dental Medicine, and the Center of Integrative Global Oral Health of Pennsylvania School of Dental Medicine supports the use of ibuprofen (NSAIDs) or acetaminophen for pediatric dental treatments.

• According to a study by the Journal of American Heart Association, Swedish researchers studied pain severity levels post-myocardial infarction within a year and the risk factors associated with mortality. The scientists have maintained a registry for patients with myocardial infarctions in the Swedish Web System for Enhancement and Development of Evidence-based Care in Heart Disease (SWEDHEART). This registry contains patient data with myocardial infarction test results and associated medical data. The findings of this study emphasized customizing pain management methods and rehabilitation in myocardial infarction cases.

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Pain Management Market Report Segmentation

Pain Management Market, By Drug Class (2023-2032)

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

Pain Management Market, By Devices (2023-2032)

• Neurostimulation Devices
• Infusion Pumps
• Ablation Devices

Pain Management Market, By Indication (2023-2032)

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

Pain Management Market, By Pain Type (2023-2032)

• Chronic pain
• Acute pain

Pain Management Market, By Region (2023-2032)

• North America

• • U.S.
  • Canada

• Europe

• • U.K.
  • Germany
  • France
  • Rest of Europe

• Asia Pacific

• • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific

• Latin America

• • Brazil
  • Mexico
  • Rest of Latin America

• Middle East & Africa

• • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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