Impact Analysis of Covid-19
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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 estimated to exhibit a CAGR of 3.9% over the forecast period (2018-2026).
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The increasing 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 are the factors that are expected to fuel growth of the pain management drugs market. For instance, in 2017, Lupin Pharmaceuticals launched generic pain medication of Allergan’s Norco (hydrocodone/acetaminophen) in the U.S. Moreover, in 2017, Daiichi Sankyo Company, Limited launched Narurapid (hydromorphone hydrochloride) tablets and Narusus tablets for cancer pain treatment. Furthermore, Flexion Therapeutics Inc. received the U.S. Food & Drug Administration (FDA) approval for drug Zilretta osteoarthritis knee pain in 2017.
Moreover, manufacturers are focusing on integrating healthcare IT, in order to aid physicians with pain management. For instance, in February 2018, 2Morrow, Inc., a digital therapeutic company launched an app for pain management. Similarly, in 2017, Avella launched pain and addiction management mobile app for physicians. This application will help physicians in management of their patients along with curbing the opioid (drugs taken in pain management) addiction problems. These are expected to drive adoption rate of pain management drugs, thereby, expected to fuel growth of pain management drugs market, over the forecast period.
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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Additionally, ongoing research and development for novel pain management medications is further expected to boost the market growth over the forecast period. For instance, Trevena, Inc. has two potential pain management medications in pipeline such as 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. Moreover, 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 focusing on receiving regulatory approval for 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 drive the market growth over the forecast period.
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Key Takeaways of the Pain Management Drugs Market:
- The global pain management drugs market is expected to exhibit a CAGR of 3.9% over the forecast period (2018-2026), attributed to increasing number of product launches by generic manufacturers such as Lupin and others
- Among drug class, opioids segment is expected to hold a dominant position the pain management drugs market over the forecast period
- Majority of the drugs in the pain management drugs market has lost patent protection, which helped generic manufacturers to enter into the market
Key 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.
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