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Pain Management Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

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    Report

  • 111 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4617254
The global pain management market was valued at USD 79,448.93 million in 2021, and it is projected to be worth USD 120,781.07 million, registering a CAGR of 7.39% during the forecast period of 2021-2027.

The COVID-19 pandemic has impacted the healthcare systems across the world. The health agencies are engaged in containing coronavirus transmission through lockdown norms and have deferred most of the elective and non-urgent surgeries globally. As per the research article published in the Indian Journal of Anaesthesia 2020, COVID-19 negatively impacted pain clinics, including interventional pain management procedures. The Indian Society of Anaesthesiologists also published guidelines on anesthesia and intensive care practices. However, these guidelines did not have information about chronic pain patients' management aspects until April 2020. Also, the research study published in the Journal of Pain Medicine 2020 suggested that the use of epidural nonsteroid injections for radicular pain can be considered in patients who were already immunosuppressed and at high risk of SARS-CoV-2 infection and complications. However, the possibility of treatment failure requiring a subsequent procedure must be weighed against the risk of infection.

The non-urgent nature of most chronic pain management adversely affected the psychological health of patients during the pandemic. During the COVID-19 pandemic, patients with acute pain were untreated as they avoided hospital visits in fear of infection. On the other hand, the social isolation during the pandemic led to passive coping strategies, leading to depression and anxiety. Thus, the COVID-19 pandemic is expected to, directly and indirectly, impact the pain management market globally.

The growth of the pain management market is majorly due to the well-established business of painkiller medications as the first line of treatment. However, in recent years, the increasing reliance on their prolonged use and a greater understanding of their side effects have led to the growing use of device-based pain management therapies.

Post-surgical pain is one of the primary focuses of hospitals. The cost of monitoring and the treatment of adverse effects creates a significant demand for pain management drugs and devices.

The current market is gradually adopting more non-opioid medications to suppress the addiction to opioids and certain well-established painkillers in the market. There are several non-opioid drugs with mechanisms of action, which are currently in the early and late stages of development. The regulatory authorities in multiple countries are shifting to alternative approaches, thus fast-tracking those drugs to market approval. The shift is expected to be gradual. Thus, pain management has desirable growth prospects during the forecast period.

The increasing aging population globally is expected to drive the market's growth, as the prevalence of chronic pain is relatively high among the geriatric population and is considered an independent risk factor for mortality. The increasing product launches are also expected to drive the market. For instance, in March 2020, Biotricity Inc. launched an innovative pain management product with CPM Centres for Pain Management, a subsidiary of NeuPath Health. Thus, due to such factors, the pain management market is expected to grow significantly over the forecast period.

Key Market Trends


The Cancer Pain Segment Is Expected to Exhibit Significant Growth Rate During the Forecast Period


Pain during cancer occurs the most when a tumor presses on the bones, nerves, or organs. The pain may vary according to the affected location. Chemotherapy, radiotherapy, and surgery can also cause pain. Pain caused by cancer can be treated, and many medicines are used for pain management in cancer patients. Some drugs are general pain relievers, while others target specific types of pain that may require a prescription.

As per the research article published in the JCO Global Oncology 2020, during the COVID-19 outbreak, nearly 88% of the cancer care centers faced challenges in delivering usual cancer care for many reasons, including preventive measures, lack of personal protective equipment, and staff shortage. These challenges were more pronounced in low-income countries. Therefore, the pandemic is expected to hinder the number of cancer therapies, which may indirectly impact the cancer pain segment.

The global incidence of cancer is high. As per the GLOBOCAN 2020 report, the incidence of new cancer cases accounted for 19,292,789 globally and 9,958,133 cancer-related deaths in 2020. Thus, the high incidence of cancer worldwide may increase the demand for cancer therapies, which may increase the demand for cancer pain management drugs and devices and boost the market’s growth.



North America Captured the Largest Market Share and Is Expected to Retain its Dominance During the Forecast Period


North America holds the largest share in the pain management market, with the United States being the most significant contributor to its revenue. According to the data published by the Centers for Disease Control and Prevention (CDC), in 2019, 20.4% of adults had chronic pain, and 7.4% of adults had chronic pain that had limited work and daily activities frequently. Additionally, as per CDC, chronic pain increased with age, and the highest was reported in patients aged 65 years and above in the United States. Similarly, as per the Population Reference Bureau's Population Bulletin "Aging in the United States," the number of Americans aged 65 years and older is projected to nearly double from 52 million in 2018 to 95 million by 2060. The high incidence of chronic pain among Americans and the growing geriatric population are expected to increase the demand for pain management devices and drugs over the forecast period.

Overall, the US pain management market is considered highly competitive, primarily due to the significant presence of pain specialist physicians, the increasing trend of product approvals from the FDA, and the robust infrastructure for providing pain management services to patients. For instance, in February 2020, Baudax Bio's meloxicam injection (Anjeso) received the US FDA approval to manage moderate to severe pain, alone or in combination with other non-NSAID analgesics. Thus, the market is expected to grow significantly in North America over the forecast period.

The COVID-19 outbreak is also expected to significantly impact the market's growth due to the increasing COVID-19 cases in the United States. According to the recommendations provided by the American Society of Regional Anesthesia and Pain Medicine (ASRA), chronic opioid therapy and the use of steroids in interventional pain procedures may induce immune suppression, which is very critical, as it minimizes the chances of fighting a viral infection. Hence, the COVID-19 pandemic is expected to negatively impact pain management procedures and the market in North America.



Competitive Landscape


The pain management market is highly competitive and consists of several major players. The existing players in the pain management market employ strong competitive strategies, leading to intense competition. Some of the key players in the market are Abbott Laboratories, AstraZeneca PLC, Baxter International Inc., Becton, Dickinson and Company, and Boston Scientific Corporation. Product advancements and improvements in durable medical equipment by major players are intensifying the competition in the market. For instance, in June 2019, Medtronic PLC launched the Intellis platform to manage certain types of chronic intractable pain.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Long-term Pain Management from the Geriatric Population
4.2.2 Proven Efficacy of Pain Management Devices for the Treatment of Chronic Pain
4.2.3 Development of Novel Pain Management Devices and Techniques
4.3 Market Restraints
4.3.1 Lack of Awareness About the Availability and Use of Pain Management Devices
4.3.2 High Procedural and Purchase Cost of Pain Management Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Mode of Pain Management
5.1.1 Drugs
5.1.1.1 Opioids
5.1.1.2 Non-narcotic Analgesics
5.1.1.2.1 NSAIDS
5.1.1.2.2 Anesthetics
5.1.1.2.3 Anticonvulsants
5.1.1.2.4 Anti-depressants
5.1.1.2.5 Other Non-narcotic Analgesics
5.1.2 Devices
5.1.2.1 Neurostimulation Devices
5.1.2.1.1 Transcutaneous Electrical Nerve Stimulation (TENS) Devices
5.1.2.1.2 Brain and Spinal Cord Stimulation (SCS) Devices
5.1.2.2 Analgesic Infusion Pumps
5.1.2.2.1 Intrathecal Infusion Pumps
5.1.2.2.2 External Infusion Pumps
5.2 Application
5.2.1 Neuropathic Pain
5.2.2 Cancer Pain
5.2.3 Facial Pain and Migraine
5.2.4 Musculoskeletal Pain
5.2.5 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Baxter International Inc.
6.1.3 Becton, Dickinson and Company
6.1.4 Boston Scientific Corporation
6.1.5 Fresenius SE & Co. KGaA
6.1.6 GlaxoSmithKline PLC
6.1.7 Johnson & Johnson
6.1.8 Medtronic PLC
6.1.9 Novartis International AG
6.1.10 Pfizer Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Abbott Laboratories
  • Baxter International Inc.
  • Becton, Dickinson and Company
  • Boston Scientific Corporation
  • Fresenius SE & Co. KGaA
  • GlaxoSmithKline PLC
  • Johnson & Johnson
  • Medtronic PLC
  • Novartis International AG
  • Pfizer Inc.

Methodology

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