$34.82+ Billion U.S. Pain Management Drugs Market - Allied Market Research

PORTLAND, OREGON, UNITED STATES, July 17, 2024 /EINPresswire.com/ -- U.S. Pain Management Drugs Market Insight (2024-2031)

Market Overview:
• Market Size & Growth:
• Valued at $25.17 billion in 2021.
• Projected to reach $34.82 billion by 2031.
• CAGR: 3.3% from 2022 to 2031.

Pain Definition:
• Unpleasant sensory and emotional experience.
• Causes: acute (short-term) and chronic (long-term) pain.
• Sources: bone & joint conditions, nerve damage, injuries.

Historical Overview:
• Analysis from 2021-2031 shows consistent growth.
• Factors: Effective distribution, awareness, new drug approvals.

Market Dynamics:
• Opportunities:
• Growing health-conscious consumer base.
• Enhanced healthcare infrastructure.
• Rising geriatric population with chronic diseases.
• Challenges:
• COVID-19 disruption on supply chains and surgeries.
• Side effects and misuse of pain medications.

Key Factors Influencing Market Growth:

• Positive Influences:
• Increased prevalence of diabetic neuropathies.
• Rising incidents of sports injuries and back pain.
• Substantial government spending on pain management.
• Growing awareness and counseling on pain management.
• E-commerce promoting easier access to pain medications.
• Negative Influences:
• Availability of alternative therapies.
• Habit-forming potential and side effects of drugs.

Segmental Overview:
• By Drug Class:
• NSAIDs, anesthetics, anticonvulsants, anti-migraine agents, antidepressants, opioids, nonnarcotic analgesics.
• Opioids segment leads, expected to remain dominant.
• By Indication:
• Categories: arthritic pain, neuropathic pain, cancer pain, chronic back pain, postoperative pain, etc.
• Postoperative pain segment dominates; cancer pain expected to grow significantly.
• By Pain Type:
• Chronic and acute pain.
• Chronic pain segment holds highest revenue and growth projection.

Competitive Landscape:
• Major Players:
• Pfizer Inc, Viatris (Mylan N.V.), Eli Lilly and Company, Novartis AG, and others.

• Key Strategies:
• Agreements, product approvals, collaborations, partnerships.
• Example: Myovant Sciences and Pfizer's Myfembree approval in 2022.
• Innovations:
• Focus on non-opioid, non-addictive therapeutics.
• Investment in research for abuse-deterrent formulations.

Market Recovery Post-COVID-19:
• Gradual recovery anticipated post-2021.
• Factors: Increased adoption of low side-effect pain medications, rise in pending surgeries, and new drug approvals.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A09451

David Correa
Allied Market Research
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