The global pain management drugs market, by Drug Class (Opioids, NSAIDs, Anticonvulsants, Antidepressants, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 63,212.3 Mn in 2017 and is projected to exhibit a CAGR of 3.9% over the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights. Availability of wide number of pain management drug products (generic as well as branded), absence of alternative therapies, and ongoing research and development of different therapies is expected to fuel growth of the pain management drugs market.
Lupin Pharmaceuticals launched generic pain medication of Allergan’s Norco (hydrocodone/acetaminophen) in 2017 in the U.S. Daiichi Sankyo Company, Limited announced launch of Narurapid (hydromorphone hydrochloride) tablets and Narusus tablets for cancer pain treatment in 2017. Flexion Therapeutics Inc. received the U.S. Food & Drug Administration (FDA) approval for drug Zilretta osteoarthritis knee pain in 2017. Manufacturers are indulged in integrating healthcare IT, in order to help physicians with pain management. For instance, digital therapeutic company 2Morrow, Inc. launched an app for pain management in February 2018. Avella launched pain and addiction management mobile app for physicians in 2017. These applications will help physicians in management of their patients along with curbing the opioid (drugs taken in pain management) addiction problems. This is expected to increase the adoption rate of pain management drugs over the forecast period, thereby, driving growth of pain management drugs market.
Browse 34 Market Data Tables and 55 Figures spread through 205 Pages and in-depth TOC on Pain Management Drugs Market, by Drug Class (Opioids, NSAIDs, Anticonvulsants, Antidepressants, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and, Africa) – Global Forecast to 2026
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Ongoing research and development for novel pain management medications is expected to boost the market growth over the forecast period. Trevena, Inc. has two potential pain management medications in pipeline. Oliceridine injection for moderate to severe acute pain (NDA approved by the U.S.FDA in January 2018), and TRV734 (Phase I) for moderate to severe pain. Cara Therapeutics has drugs CR845/oral difelikefalin (Phase II) and Oral CR701 (preclinical phase) for chronic pain. Moreover, Arena Pharmaceuticals has Olorinab (APD371) in Phase II clinical trials for Crohn’s Pain. Furthermore, Pfizer, Inc. and Eli Lilly and Company are trying to gain approval for a monoclonal antibody Tanezumab, a humanized monoclonal immunoglobulin G2 antibody, and the drug is in phase III clinical trials for the treatment of chronic low back pain and chronic pain from osteoarthritis. Some of these are targeted immunotherapies, which have lesser side effects as compared to conventional therapies and approval of the same is expected to change the pain medication management drastically over the forecast period.
Key Takeaways of the Pain Management Drugs Market:
- The global pain management drugs market is expected to exhibit a CAGR of 9% over the forecast period (2018–2026), owing to increasing product launches by generic manufacturers such as Lupin and others
- Among drug class, opioids segment is expected to dominate the pain management drugs market over the forecast period
- Majority of the drugs in the pain management drugs market has lost patent protection due to which generic manufacturers have been able to enter into the market
Major players operating in the pain management drugs market include Pfizer, Inc., Sanofi S.A., Mylan N.V., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Abbott Laboratories, Purdue Pharma L.P., GlaxoSmithKline Plc, Johnson & Johnson, and F. Hoffmann La Roche Ltd.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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