United States Pain Management Therapeutics Market Analysis
The United States Pain Management Therapeutics Market will reach US$ 36.15 billion by 2032, up from US$ 26.18 billion in 2023, with a CAGR of 3.65% between 2024 and 2032. Many factors are driving the market's rapid expansion such as the growth in the prevalence of chronic disorders, the rapid growth of pain management treatments, the increased public awareness and education regarding pain management, the establishment of regulatory and legislative frameworks that are supportive of the industry, and the growing need for efficient post-operative pain management.
United States Pain Management Therapeutics outlooks
Pain management refers to the medical strategy used to reduce and manage pain. It entails determining the cause and severity of pain before implementing several therapies to lessen its adverse effects on a person's quality of life. The methods include physical therapy like exercise, massage, and acupuncture, as well as devices and pharmaceuticals like analgesics and anti-inflammatories. Psychological therapies like cognitive-behavioral therapy can also be very beneficial in treating chronic pain since they target the emotional as well as the mental aspects of the problem.Enhancing functionality and promoting general well-being are more important objectives of pain management than eradicating pain. This method offers individualized treatment by considering each person's unique situation and preferences. Multidisciplinary teams that include doctors, nurses, physical therapists, psychologists, and pain experts frequently work together to customize treatment programs. Through integrating many strategies and continuous assessment, pain management aims to maximize comfort and function, empowering people to manage their pain more effectively and lead satisfying lives, overall boosting the United States Pain Management Therapeutics Market.
Driving Forces for Pain Management Therapeutics in the United States
An increasing proportion of individuals experiencing persistent illness
The market is expanding primarily due to the rising prevalence of chronic illnesses such diabetes, cancer, heart disease, and arthritis, which necessitate the use of devices and painkillers. The growing use of painkillers to enhance patients' quality of life is also contributing to the expansion of the industry. In addition, the global aging population is driving up the number of older persons, who are more vulnerable to long-term conditions including osteoarthritis and neuropathic pain.For instance, the American Cancer Society reported in 2022 that there were 1.9 million new cases of cancer diagnosed in the United States. Furthermore, it is projected that the growing incidence of neurological disorders, such as brain tumors, will support market growth. A 2022 American Cancer Society Journal article estimates that 83,750 people in the US received a diagnosis of brain and other central nervous system cancer in 2021.
Additionally, the market is growing at the height of lifestyle changes that are raising risk factors, including obesity and physical inactivity. Moreover, a multimodal approach to pain management is becoming necessary due to the growing complexity of pain in chronic disorders, which is driving market expansion.
Pain treatment technologies are developing quickly
A favorable vision for the market's growth is being created by the quick technological developments in pain treatment, which have created new and more potent medications, such as biologics and targeted therapies. Accordingly, the market is growing because of the increasing advancements in the effectiveness of treatments to lessen the adverse effects of conventional painkillers. The pharmaceutical industry's increasing emphasis on research and development (R&D) for drugs and devices also contributes to the launch of medications with improved pain management profiles, improving the market's growth prospects. The market is expected to rise due to the growing acceptance of pharmacogenomics and customized medicine, which allow for more focused and efficient pain management techniques.Increasing regulatory and governmental support
A favorable prognosis for the market's expansion is being created by implementing numerous government initiatives and regulations that encourage the creation and approval of innovative pharmaceuticals. Therefore, introducing incentives and fast-track approvals for orphan drug and device development is projected to propel market expansion by incentivizing pharmaceutical companies to invest in novel pain management treatments. The introduction of government-funded healthcare initiatives and reimbursement guidelines, which directly impact the availability and cost of painkillers, is also contributing significantly to the market's expansion in the United States. Furthermore, the market is enlarging owing to the increasing number of initiatives being established to improve access to painkillers in underprivileged areas, acknowledging pain treatment as a crucial aspect of public health.California Pain Management Therapeutics Market
The dynamic field of pain management in California is centered on using a range of therapeutic and medical methods to control and reduce pain. It includes various services offered by medical specialists such as pharmacists, physiotherapists, psychiatrists, and pain management doctors. Multidisciplinary approaches to pain management, incorporating cutting-edge treatments like minimally invasive surgeries, nerve blocks, physical therapy, and non-opioid drugs, are a defining feature of the California market.Due to the state's vast population and varied demographics, there is a high need for efficient pain management treatments due to ailments ranging from chronic pain to recovery following surgery. The market also shows continued initiatives to improve patient education and promote alternative pain management techniques in the fight against opioid abuse. Californian providers work collaboratively with technology businesses and research organizations to enhance treatment alternatives, giving patients comprehensive, individualized care customized to their requirements and circumstances.
United States Pain Management Therapeutics Company Analysis
The top Pain Management companies in the United States are Eli Lilly and Company, Pfizer Inc., GlaxoSmithKline plc, Novartis International AG, Merck & Co., Inc., Abbott Laboratories, Johnson & Johnson, and Baxter International Inc.United States Pain Management Therapeutics Company News
October 2022 - Expanding its line of analgesics, Parker Laboratories Inc. develops, produces, and markets ultrasound and electromedical contact media, institutional cleansers, and disinfectants. The HelixTM line of products from the company now includes Tri-Active Therapy Cream, CBD Clinical Cream, and Helix CBD Therapy Cream.September 2022 - A strategic alliance has been established by St. Louis-based private equity firm Compass Group Equity Partners and Memphis-based interventional pain treatment company Mays & Schnapp Neurospine and Pain (Mays & Schnapp). Compass Group Equity Partners serves patients in Tennessee and Mississippi.
January 2021 - Boston Scientific Corporation introduced the WaveWriter Alpha line of spinal cord stimulator (SCS) devices, which combines therapeutic choices for individualized pain alleviation.
Therapeutics - Market breakup in 2 viewpoints:
- Pharmaceuticals
- Devices
2.2 Radiofrequency Ablation
2.3 Analgesic Infusion Pumps
2.4 Neurostimulation
Drug Class - Market breakup in 7 viewpoints:
- Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
- Anesthetics
- Anticonvulsants
- Anti-Migraine Agents
- Antidepressants
- Opioids
- Non-Narcotic Analgesics
Indication - Market breakup in 11 viewpoints:
- Arthritic Pain
- Neuropathic Pain
- Cancer Pain
- Chronic Back Pain
- Post-Operative Pain
- Migraine
- Fibromyalgia
- Bone Fracture
- Muscle Sprain/Strain
- Acute Appendicitis
- Others
Pain Type - Market breakup in 2 viewpoints:
- Chronic Pain
- Acute Pain
Distribution Channel - Market breakup in 3 viewpoints:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
All the key players have been covered from 4 Viewpoints:
- Business Overview
- Product Portfolio
- Recent Development & Strategies
- Revenue Analysis
Key Players Analysis:
- Eli Lilly and Company
- Pfizer Inc.
- GlaxoSmithKline plc
- Novartis International AG
- Merck & Co., Inc.
- Abbott Laboratories
- Johnson & Johnson
- Baxter International Inc.
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. United States Pain Management Therapeutics Market
4. Market Dynamics
6. Market Share Analysis- United States Pain Management Therapeutics Market
7. Therapeutics
8. Drug Class
9. Indication
10. Pain Type
11. Distribution Channel
12. Porter's Five Forces Analysis
13. SWOT Analysis
14. Key Players Analysis
Companies Mentioned
- Eli Lilly and Company
- Pfizer Inc.
- GlaxoSmithKline plc
- Novartis International AG
- Merck & Co., Inc.
- Abbott Laboratories
- Johnson & Johnson
- Baxter International Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 26.18 Billion |
| Forecasted Market Value ( USD | $ 36.15 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | United States |
| No. of Companies Mentioned | 8 |
