Pain Relief Medication Market Analysis
Global pain relief medication market size is predicted to grow at a 4.73% CAGR between 2019-2025, as per the latest Market Research Future (MRFR) report. Pain relief medications, simply put, are drugs that reduce discomfort related to surgery, injury, or disease. The choice of medication depends on a couple of factors, namely cause of the pain, severity, type, allergies, if any, and other medications taken. COX-2 inhibitors, opioids, and nonsteroidal anti-inflammatory drugs are some of the common pain relief medications.
Numerous factors are adding to the global pain relief medication market growth. Such factors, according to the recent MRFR report, include increasing use of combination therapy for pain management, fast-track drug approval, increasing awareness about chronic disease treatment, and rising incidence of life-threatening diseases. Additional factors adding to the pain relief medication market share include growing demand for chronic pain treatment, increasing research initiatives, and increasing product approvals.
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On the contrary, increasing product calls and side effects are factors that may restrict the pain relief medication industry growth over the forecast period.
Pain Relief Medication Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global pain relief medication market based on distribution channel, indication, and drug class.
By drug class, the global pain relief medication market is segmented into COX-2 inhibitors, opioids, nonsteroidal anti-inflammatory drugs, and others. Of these, the nonsteroidal anti-inflammatory drug segment will lead the market over the forecast period for its high efficacy rate. The opioids segment meanwhile will grow at a quick pace over the forecast period.
By indication, the global pain relief medication market is segmented into inflammatory conditions, musculoskeletal pain, neuropathic pain, cancer pain, and others. Of these, cancer pain will lead the pain relief medication market over the forecast period for the increasing incidence of cancer pain. Meanwhile, the neuropathic pain will grow at the fastest pace during the forecast period for the increase in the patient population in different economies.
By distribution channel, the pain relief medication market is segmented into online pharmacies and hospital & retail pharmacies. Of these, hospitals & retail pharmacies will have a major share in the pain relief medication market during the forecast period for the rise in the number of hospital-in-visits. Meanwhile, online pharmacies will grow at the fastest pace over the forecast period for increasing awareness about online distribution network.
Pain Relief Medication Market Regional Analysis
By region, the global pain relief medication market report covers the growth opportunities and recent trends across the Americas, Europe, the Middle East & Africa (MEA), and the Asia Pacific (APAC). Among these, the Americas will spearhead the pain relief medication market over the forecast period. Canada followed by the US are the key contributors in this region for the presence of several well-established research centers.
The global pain relief medication market in Europe is predicted to hold the second-largest share during the forecast period. Rising prevalence of chronic diseases and increasing research for new treatments are adding market growth.
The global pain relief medication market in the APAC region is predicted to grow at a quick pace during the forecast period. Increasing number of people being afflicted with pain coupled with the rising prevalence of cancer patients are adding market growth.
The global pain relief medication market in the MEA will have minimal share in the pain relief medication market during the forecast period for limited exposure to new products and limited healthcare infrastructure.
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Pain Relief Medication Market Key Players
Leading players profiled in the pain relief medication market report include Teva Pharmaceutical Industries Ltd (Israel), Sanofi (France), Purdue Pharma (US), Pfizer, Inc. (US), Mallinckrodt Pharmaceuticals (UK), GlaxoSmithKline (UK), Eli Lilly and Company (US), Bristol-Myers Squibb (US), Boehringer Ingelheim International GmbH (Germany), Biogen Idec (US), Bayer (Germany), Astellas Pharma Inc. (Japan), Allergan plc (Ireland), and AbbVie Inc. (US).
Pain Relief Medication Industry News
March 2020: Advil Dual Action, an OTC (over the counter) pain relief treatment has received US FDA approval. It will combine acetaminophen’s pain signal blocking activity with ibuprofen’s nonsteroidal anti-inflammatory action to fight pain.
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