Pain Relief Market Growing at 4.5% CAGR by 2030 Led by Market Revenue | Emergen Research
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Rise in incidences of chronic diseases is a key factor driving pain relief market revenue growth
VANCOUVER, BC, CANADA, January 18, 2023 /EINPresswire.com/ -- The global pain relief market size reached USD 79.68 Billion in 2021 and is expected to register a revenue CAGR of 4.5% during the forecast period, according to latest analysis by Emergen Research. Pain relief market revenue growth is primarily driven by factors such as increasing demand for long-term pain management for geriatric population, proven efficacy of pain management devices for treatment of chronic pain, and development of novel pain management devices and techniques. Pain relievers are medications used to treat headaches, tight muscles, arthritis, and other aches and pains. Certain medications work better for some forms of pain than others, hence there are numerous pain medications available, each with its own set of benefits and drawbacks. Many types of pain can be relieved with Over-The-Counter (OTC) medications, which are classified into two types, Nonsteroidal Anti-Inflammatory Medications (NSAIDs) and acetaminophen (Tylenol). OTC NSAIDs include naproxen (Aleve), aspirin, and ibuprofen (Advil, Motrin), which are available in higher doses by prescription. Opioids are the most common potent pain medications, which are quite effective, but they can have major adverse effects at times including becoming addicted to this medication.
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Some Key Highlights From the Report
The non-narcotic analgesic segment accounted for a rapid revenue share in 2021. Over-The-Counter (OTC) and prescription drugs are examples of non-opioid analgesics. They are increasingly being emphasized as a preferred, safe, and useful first-line therapeutic option to opioid medications in a variety of clinical scenarios addressing mild to severe acute pain. Acetaminophen and nonsteroidal anti-inflammatory medications are the most often used NSAIDs.
The device segment accounted for a moderate revenue share in 2021. TENS, or transcutaneous electrical nerve stimulation, is a type of treatment that uses an electric current to activate nerves, which has small and battery-powered gadgets that fit easily into a pocket. It addresses a specific treatment goal by placing electrodes on skin and connecting them to the device through wires. These units are designed to be titratable, allowing for high user tolerance while having a few negative effects.
The cancer pain segment accounted for a significant revenue share in 2021. Cancer pain is generally persistent. A person whose pain is adequately managed has a higher quality of life and could also have better sleep and more energy during the day. Being as physically active as possible reduces risk of immobility-related disorders such as sinusitis, bedsores, and blood clots. Frequent drugs, particularly paracetamol and opioids, are the backbone of cancer pain therapy, with each patient's side effects being minimized as much as possible. In addition, combining medications to maximize their effectiveness is a common practice. Moreover, they may reduce pain if radiotherapy, surgery, hormone therapy, and chemotherapy are successful in reducing tumor size. In addition to relaxation therapy and acupuncture, other possibly effective techniques include relaxation therapies and acupuncture.
The Asia Pacific market accounted for a moderate revenue share in 2021. The market is expected to be driven by increase in demand for alternatives to pain management pharmaceuticals with numerous side effects, significant number of patients with chronic conditions, particularly among elderly, and technical improvements leading to potential development of better pain management devices.
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Major Players/Manufacturers profiled in the report are:
Abbott, Eli Lilly and Company, Endo International plc., GSK plc, Johnson & Johnson Services, Inc., Merck & Co., Inc., Viatris Inc., Novartis AG, Pfizer Inc., and Knoa Pharma LLC
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Emergen Research has segmented the global pain relief market based on treatment types, application, and region:
Treatment Type Outlook (Revenue, USD Billion; 2019-2030)
Opioids
Non-Narcotic Analgesic
NSAIDs
Anesthetic
Anti-convulsants
Anti-depressants
Other Non- Narcotic Analgesic
Neuro-stimulation devices
Transcutaneous Electrical Nerve Stimulation (TENs) Device
Brain & Spinal Cord Stimulation
Analgesic Infusion Pumps
Intrathecal Infusion Pumps
External Infusion Pumps
Drugs
Devices
Topical Pain Relief
Application Outlook (Revenue, USD Billion; 2019-2030)
Neuropathic Pain
Cancer Pain
Facial Pain & Migraine
Musculoskeletal Pain
Other Application
Regional Outlook (Revenue, USD Billion; 2019–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
Key Geographies Profiled in the Report:
North America(the U.S., Mexico, and Canada)
Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
Europe(the U.K., France, Germany, and Rest of Europe)
Latin America(Brazil and Rest of Latin America)
Middle East & Africa(GCC Countries and Rest of Middle East & Africa)
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Pain Relief Market Size Worth USD 119.42 Billion in 2030
