Pain Management Market Size, Emerging Trends, Forecasts, and Analysis 2022-2028

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The Pain Management Market was valued at US$ 68.4 Billion in 2021 and is projected to reach US$ 94.86 Billion by 2028, registering a CAGR of 4.76% during the forecast period.

The Pain Management Market is segmented by Drugs (Drugs, Opioids [Non-narcotic Analgesics, NSAIDS, Anesthetics, Anticonvulsants, Anti-depressants, Others), Devices (Neurostimulation Devices [Transcutaneous Electrical Nerve Stimulation (TENS) Devices, Brain and Spinal Cord Stimulation (SCS) Devices], Analgesic Infusion Pumps [Intrathecal Infusion Pumps, External Infusion Pumps]), Application (Neuropathic Pain, Cancer Pain, Facial Pain and Migraine, Musculoskeletal Pain, Others) and Region (North America, Europe, Asia-Pacific, and the Rest of the World).

Key Players

Key players operating in the pain management market are-

  • Abbott Laboratories (US)
  • Baxter International Inc. (US)
  • Becton
  • Dickinson
  • Company (US)
  • Boston Scientific Corporation (US)
  • Fresenius SE Co. KGaA (Germany)
  • GlaxoSmithKline PLC (UK)
  • Johnson Johnson (US)
  • Medtronic PLC (US)
  • Novartis International AG (Switzerland)
  • Pfizer Inc. (US).

Market Dynamics

The growth of the pain management market is primarily driven by increasing incidences of chronic illness including diabetic neuropathy, cancer, and osteoarthritis among others. Expanding the geriatric populace across geographies is another key factor that is likely to propel the market growth during the review period. The rising number of surgical procedures due to increased accidental injuries is propelling the market growth substantially. In addition to this, increasing investment in research and development activities to develop novel drugs is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Application Trends

The pain management market has been categorized into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and others. The cancer pain segment accounted for the largest market share in 2021 and is projected to register significant growth during the review period. Pain during cancer primarily occurs the most when a tumor presses on the bones, nerves, or organs. The pain may vary according to the affected location. Pain caused by cancer can be treated. Many medicines are used for pain management in cancer patients.

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