Global Cancer Pain Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Market players are integrating neurostimulation technologies and opioid-sparing strategies for effective pain relief.

• Cancer pain is the discomfort, pain, or soreness that cancer patients suffer. It can be caused by the tumor pressing on nerves, organs, or bones and by treatment side effects such as chemotherapy. Effective management is critical for improving the patient's quality of life and relieving pain.
• The increased global cancer incidence is a significant market driver for cancer pain management. As the number of persons diagnosed with cancer rises, so does the potential pool of cancer-related pain patients. This trend implies an increase in the demand for appropriate pain management treatments, such as drugs, therapies, and interventions, in order to improve patients' overall quality of life during their cancer journey.
• The ageing global population contributes to the growth of the cancer pain industry. Cancer is more common in older people, and chronic pain from cancer and its therapies is common. With a rising older population, there is a greater need for specialized pain treatment measures that address their specific demands, such as adjusted dosages and approaches to minimize side effects.
• The rising global healthcare spending is a major driver of the cancer pain industry. Governments and the business sector are investing more in healthcare infrastructure, which is resulting in greater access to pain treatment services. Furthermore, increased financial resources allow for the development of new pain-relief technologies and therapies, which drives innovation and improves the overall level of care for cancer pain sufferers.
• The growing pipeline of possible cancer pain medications offers exciting business opportunities. Pharmaceutical companies are always investing in R&D to create new pain-relief drugs with higher efficacy and fewer adverse effects. As more medications advance through clinical trials, the chance of introducing novel treatments to address unmet needs increases, giving patients more alternatives for effective pain management.
• Emerging markets provide significant market opportunities for cancer pain management. As these countries' economies rise and healthcare infrastructure improves, there is a growing desire for better pain treatment alternatives. Furthermore, rising knowledge of cancer-related pain management and increased access to medical facilities create a favorable climate for pharmaceutical companies to extend their presence in these regions and meet the demands of a growing patient population. This expansion has the potential to result in significant market growth and improved patient care in emerging markets.
• However, the market for cancer pain management is limited due to the negative side effects associated with the usage of certain medications. These adverse effects may have an impact on patient tolerance, compliance, and overall treatment outcomes, necessitating the development of safer and more acceptable therapeutic choices on the market.
• The lack of a perfect pain management solution has hampered the market for cancer pain management. Despite the different existing treatments, no single technique can entirely eliminate pain for all patients, prompting the development of unique and personalized pain relief and patient well-being solutions.

Market Segmentations

• The Global Cancer Pain Market is segmented based on Type, Disease Indication, and Geography.
• By Type, the Global Cancer Pain Market is classified into Opioids, Non-Opioids, and Nerve Blockers.
• Opioids hold a larger market share. Opioids are powerful pain relievers that are routinely recommended for moderate to severe pain, making them a popular option due to their effectiveness in reducing cancer-related pain symptoms and their long history of usage in clinical practice.
• By Disease Indication, the Global Cancer Pain Market is classified into Lung Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Blood Cancer, and Others.
• Lung Cancer holds a significant market share. Lung cancer generally causes considerable pain due to its high prevalence and aggressive nature, prompting a greater demand for appropriate pain management treatments in this patient population.
• By Geography, the Global Cancer Pain Market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• The Americas hold a larger market share. The region's strong market position can be due to advanced healthcare infrastructure, increased awareness, and higher adoption of new pain management medicines, all of which contribute to a larger patient pool looking for effective pain relief.

Recent Development

• Palliative RT relieves pain in end-stage liver cancer - April 2023
• Grünenthal closes deal to acquire testosterone therapy Nebido™ from Bayer for €495 million - November 2022

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Cancer Pain Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Cancer Pain Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Cancer Pain Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market