Pain Management Therapeutics Market

Market Overview

The global pain management therapeutics market size was valued at USD 79.42 billion in 2023. It is expected to reach USD 115.21 billion by 2032, growing at a CAGR of 4.22% during the forecast period (2024-32). As per the Institute of Neurological Disorders and Stroke, around 80% of adults experience back pain caused by factors like job-related disability, repetitive heavy lifting, and osteoporosis. The market is anticipated to be driven by the rising prevalence of cervical spinal stenosis among women, which is anticipated to increase the prevalence of back pain.

Highlights

• NSAIDS dominates the drug class segment
• Neuropathic dominates the indication segment
• North America is the highest shareholder in the global market

Market Overview

Medications and other methods for managing pain are collectively known as pain management therapeutics. The pain management, whether acute or chronic, frequently necessitates the involvement of specialists from different fields. Acupuncture, chiropractic care, yoga, hypnosis, biofeedback, aromatherapy, relaxation techniques, medicinal interventions, therapeutic touch, herbal remedies, massage, and many more forms of treatment are all part of pain management therapy. 
A personalized approach is often necessary for the most effective management of acute or chronic pain, taking into account individual health factors and minimizing side effects. A combination of these approaches is often used. Regular monitoring is necessary to maintain optimal pain management strategies.

Market Dynamics

Global Pain Management Therapeutics Market Drivers

Prevalence of Chronic Pain

The increasing number of people suffering from chronic pain conditions like neuropathic pain, arthritis, and musculoskeletal disorders is a major factor driving the need for pain management treatments. The prevalence of chronic pain is rising as the world's population ages, which is fueling the market's expansion. According to data released by PubMed in April 2022, individuals with chronic pain in the United States and Canada reported a marked increase in pain during the pandemic. 

In 2018, the National Center for Complementary and Integrative Health released data showing that over 20% of adult Americans experienced chronic pain, with about 8% experiencing severe chronic pain. Therefore, pharmaceutical interventions are essential in meeting the various needs of people with chronic pain. These interventions include opioids, nonsteroidal anti-inflammatory drugs (NSAIDs), and emerging therapies. Research is still being done, technology is developing, and efforts are being made to strike a balance between the need for effective pain management and the issues related to opioid abuse and use.

Growing Awareness of Pain Management Therapeutics

Proactive approaches to healthcare are being fostered by growing awareness of pain management therapies. There is a growing body of knowledge about treatments currently available, such as medications, non-pharmacological therapies, and emerging therapies. People are being made aware of effective pain relief options by healthcare professionals and advocacy groups, who also stress the value of early intervention and individualized treatment plans. For instance, pain Awareness Month in September offers us a chance to consider the needs of the millions of individuals who live with chronic pain and the research that will hopefully improve pain prevention and treatment.

Based on research from the National Center for Complementary and Integrative Health (NCCIH), there are more new cases of chronic pain than new cases of depression, hypertension, or diabetes in the United States each year. The objective of lessening the burden of chronic pain and enhancing general health outcomes is being pushed, along with a holistic approach to pain management that considers both pharmacological and non-pharmacological modalities. This knowledge is essential for motivating people to seek prompt, suitable interventions for their pain conditions.

Global Pain Management Therapeutics Market Restraints

Cost of Treatment

One major factor influencing adoption in the pain management device market is the treatment cost. Non-pharmacological devices, such as implantable drug delivery systems and neurostimulators, have higher upfront costs but provide long-term benefits. The mean costs of neuromodulation devices in the United States for managing chronic pain, broken down by manufacturer, as of 2018. Based on the available data, Abbott's devices had an average cost of 16,940 USD. Moreover, the total treatment cost includes device upkeep, programming, and aftercare expenditures. Reimbursement guidelines and cost impact patient access. However, the long-term advantages and potential reduction in drug dependency may outweigh the initial cost, pushing the medical community to adopt more reasonably priced, long-term pain management solutions.

Global Pain Management Therapeutics Market Opportunities

Innovative Therapies and Drug Development

Novel therapies and medication development are essential in addressing unmet needs in pain management. To increase efficacy and decrease side effects, pharmaceutical companies are actively investigating cutting-edge formulations and novel mechanisms of action. Ongoing research and development aids companies in evaluating novel treatment approaches and their efficacy in improving pain management. For example, The Vertiflex Procedure is changing how patients are treated for LSS. It offers patients a minimally invasive, clinically validated treatment intended to provide long-term relief from the back and leg pain linked to LSS. Patient data supporting this Level 1 evidence-based procedure includes reports of successful outcomes for up to five years.

Furthermore, the ongoing search for more precise, individualized, and technologically sophisticated pain management solutions presents chances for innovations that could fundamentally alter the way pain treatment is provided and greatly enhance patient outcomes. Moreover, personalized drugs, biologics, and quick-dose lifestyle medications—which make up over 70% of all medications under development—are becoming the focus of attention. These days, product lines focus more on treating the disease than its symptoms.

Regional Analysis

Based on region, the global pain management therapeutics market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global pain management therapeutics market shareholder and is expected to expand substantially over the forecast period. This is due to the huge presence of the older population suffering from back pain. For example, experts predict that the proportion of the population aged 65 and up will climb from 17% to 23% and that the number of Americans aged 65 and up will climb from 58 million in 2022 to 82 million in 2050, an increase of 47%. More people are entering old age than at any point in American history. Moreover, the region is greatly affected by chronic diseases like cancer. For example, in the United States, approximately 1.70 million new cases of cancer were diagnosed in 2018, as reported by the National Cancer Institute. Thus, the rising cancer incidence rate will expand the market during the projected period.

Furthermore, the substantial number of doctors specializing in treating pain, the growing number of FDA product approvals, and the strong infrastructure for patient care make the US pain management market known for its intense competition. For instance, after receiving approval, Biohaven Pharmaceutical Holding Company Ltd and Pfizer Inc. established a strategic commercialization agreement in November 2021 for rimegepant in markets outside the US. Under the brand name Nurtec ODT, rimegepant is sold as an acute treatment for migraine attacks with or without aura as well as a preventive measure against episodic migraine in adults. Thus, the market is expected to grow significantly in North America over the forecast period. 

In Europe, the increasing incidence of osteoporosis as a result of aging, calcium insufficiency, and rising alcohol consumption presents numerous opportunities in the pain management therapeutics market. Global estimates put the number of persons affected by osteoporosis in 2015 at around 20 million, according to the International Osteoporosis Foundation (IOF). An increasing focus on cutting-edge therapies for a range of pain conditions distinguishes the market for pain management therapies in Europe. 
For instance, Noema Pharma is dedicated to creating remedies for crippling conditions affecting the central nervous system (CNS). The company is looking into several compounds in clinical trials, one of which is a Phase 2b clinical trial using Basimglurant (NOE-101) to treat pain related to trigeminal neuralgia (TN). Basimglurant is an effective inhibitor of metabotropic glutamate receptor 5 (mGluR5), which regulates many central and peripheral nervous system functions. Pain linked to these conditions may be treated therapeutically by inhibiting the mGluR5 receptor. Such factors propel regional market growth.

Segmental Analysis

The global pain management therapeutics market is segmented into drug class, indication, route of administration, and distribution channel.

Based on drug class, the global pain management therapeutics market is segmented into NSAIDs, anticonvulsants, antidepressants, anti-migraine agents, non-narcotic analgesics, and opioids.

The NSAIDs segment dominates the global market. Nonsteroidal anti-inflammatory drugs (NSAIDs) are a class of medications that reduce pain, inflammation, and fever. They work by stopping prostaglandins, which are molecules that induce pain and inflammation, from being synthesized. Ibuprofen and naproxen, which are available over-the-counter or with a prescription, are common NSAIDs. Although beneficial for several ailments, long-term use may raise cardiovascular and gastrointestinal risks. Moreover, the main factors contributing to NSAIDs' large market share are their affordability and accessibility as over-the-counter medications. Other factors that increase demand for nonsteroidal anti-inflammatory drugs (NSAIDs) include their ease of use and their ability to provide rapid pain relief.

Based on the route of administration, the global pain management therapeutics market is segmented into oral, parenteral, and others.

Medication administered orally is a common method for pills, capsules, or liquids. Analgesics and anti-inflammatory drugs are examples of pain medications that are typically taken orally. However, pain management devices are made to treat the affected areas directly, frequently avoiding the digestive system, using mechanisms like electrical stimulation or controlled medication release. Various dental procedures or underlying conditions affect the soft and hard tissues of the mouth, which causes pain. A variety of drugs, as well as drug combinations, can be used as oral analgesics to relieve acute dental pain. 

Based on indication, the global pain management therapeutics market is segmented into neuropathic pain, arthritic pain, cancer pain, post-operative pain, chronic back pain, fibromyalgia, and migraine.

The neuropathic segment owns the highest market share. The somatosensory nervous system can be damaged or affected by an illness that causes neuropathic pain. One such example of neuropathic pain is phantom limb syndrome, which is characterized by chronic pain. This disorder manifests itself when a limb is amputated as a result of disease or trauma. Though the limb is no longer there, the brain can still feel pain via the same nerves that send signals from the missing limb. 
Moreover, devices for the management of neuropathic pain use cutting-edge technology to alleviate persistent pain caused by nerve damage. Regular dosing of pain relievers is a major contributor to a high revenue share, which is necessary because neuropathic pain is chronic. These devices offer an alternative to traditional medicine for those whose neuropathic pain is not well controlled by medications.

Based on the distribution channel, the global pain management therapeutics market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.

Retail pharmacies are essential to pain management therapies because they offer easy access to prescription and over-the-counter drugs. A variety of analgesics, anti-inflammatory medications, and other pain relief products are available from them. Pharmacists are a great resource when it comes to using medications, possible side effects, and interactions. Moreover, retail pharmacies support responsible medication use by teaching the public about pain management. They might sell braces or other auxiliary items like heat patches. Retail pharmacies also play a vital role in the community's overall pain management solution landscape due to their accessibility and informational role.

Recent Developments

• November 2023- BehaVR, a virtual reality platform for behavioral health, and Fern Health, a virtual platform for chronic pain management, announced the merger to create RealizedCare. Digital therapeutics for mental and behavioral health, created by BehaVR, include pain, stress, anxiety, and addiction treatments. The products and services provided by the Tennessee-based firm also make use of machine learning models and biometrics.