The global pain management drugs market is estimated to be valued at US$ 76,415.7 million in 2022 and is expected to exhibit a CAGR of 4.1% during the forecast period (2022-2030).
Figure 1. Global Pain Management Drugs Market Share (%), by Drug Class, 2022
Increasing government initiatives for research and development on pain management drugs is expected to drive the market growth over the forecast period
Increasing government initiatives such as funding by government organizations for research and development on pain management drugs is expected to drive the global pain management drugs market. For instance, in May 2022, Anticonvulsant Drug Development (ADD) Program was launched by National Institute of Neurological Disorders and Stroke (NINDS) to actively involved in the early identification and characterization of novel investigational anticonvulsant drugs for the symptomatic treatment of epilepsy. The centerpiece for the department's epilepsy-related research is The Anticonvulsant Drug Development (ADD) program. The primary purpose of this program is to identify potential new antiepileptic agents and the work is funded by a long-term National Institute of Health (NIH) research contract for the early evaluation of anticonvulsant drugs. The project uses preclinical seizure models and neuroscience techniques to help develop new antiepileptic agents. Some 800-1000 novel compounds per year are evaluated against conventional drugs for anticonvulsant efficacy and potency, neurotoxicity, effect on liver function, and mechanism of action.
High prevalence of chronic pain diseases is expected to drive growth of the pain management drugs market over the forecast period.
Increasing prevalence of chronic pain diseases is expected to drive growth of the pain management drugs market over the forecast period. For instance, in February 2022, according to data published by National Center for Biotechnology Information, the Centers for Disease Control and Prevention (CDC) used data from the 2019 National Health Interview Survey (NHIS) to estimate that 50.2 million U.S. adults experienced chronic pain. A second CDC publication from National Health Interview Survey (NHIS) found that 22.1% of these U.S. adults with chronic pain used prescription opioids.
Moreover, in February 2022, according to data published by National Health Interview Survey (NHIS), the prevalence of chronic pain was 20.4% globally, and the prevalence of high-impact chronic pain was 7.4% (or 36.4% of adults who had chronic pain). Chronic pain was highest among women (21.7%), non-Hispanic white adults (23.6%), and those aged 65 and over (30.8%) overall globally.
Global Pain Management Drugs Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.
COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regard to transportation of drugs from one place to another.
However, the COVID-19 pandemic had a positive impact on the global pain management drugs market, owing to possible association of pain management drugs with Covid-19. For instance, in July 2020, according to data published by National Center for Biotechnology Information, physical pain can be an early symptom of COVID-19 infection, as patients can complain about low back pain, widespread myalgias, or headache. Other pain syndromes can manifest during the infection, caused by the involvement of cranial nerves or nervous roots like Guillen Barre syndromes. Increasing evidence has demonstrated that SARS-CoV-2 has the ability to invade the nervous system above all in immunocompromised patients. According to recent studies by center for disease control, SARS-CoV-2 infection can cause many neurological diseases including viral encephalitis, meningoencephalitis, ischemic stroke, and hemorrhagic stroke. Hence, the need for pain management drugs increased which has been found to propel the global pain management drugs market growth.
Figure 2.Global Pain Management Drugs Market Share (%), by Region, 2022
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