Global Pain Management Medicines Market was Valued at US$ 63,212.3 Mn in 2017 and is Predicted to Grow at a Strong CAGR of 3.9% from 2018 to 2026

Pain management medications are a family of drugs with pharmacological effects on pain receptors that work to alleviate pain feelings. Opioids, non-steroidal anti-inflammatory medicines (NSAIDs), anticonvulsants, antidepressants, muscle relaxants, and other pharmaceuticals are among them. These drugs can be used to treat pain for a variety of diseases, as mentioned on the label, and some have off-label uses. Anticonvulsants and antidepressants, for example, were developed to treat epilepsy and depression, respectively.

There are no other options for treatment. Over the forecast period, therapies are expected to fuel the growth of the Pain Management Medicines Market. Janssen Pharmaceuticals, Inc. sold Depomed, Inc. the rights to NUCYNTA (tapentadol), NUCYNTA ER (tapentadol) extended-release tablets, and NUCYNTA (tapentadol) oral solution in the United States in 2015. Tapentadol comes in pill, solution, and extended-release formulations. Furthermore, NUCYNTA owns three patents for tablet and solution forms, one of which expired in June 2017 and the other two of which will expire in June 2025 and August 2029, respectively. Furthermore, the patent expiration of pain management pharmaceuticals such as Oxycontin, Opana, Celebrex (2013-2014), and others are presenting market competitors with an opportunity to introduce new products into the pain management drugs market.

Furthermore, manufacturers such as Pfizer, Inc. are introducing novel drug delivery systems such as prefilled syringes and injectable doses, which is projected to fuel the Pain Management Medicines Market Growth throughout the forecast period. Manufacturers offer a wide selection of products in capsule and tablet form, including generic and branded medications. Furthermore, when compared to pain therapies such as invasive approaches and physiotherapy, some of the medicines are a more cost-effective choice. Over the forecast term, these factors are expected to promote market growth even more.

Over the forecast period, the high prevalence of chronic pain illnesses is expected to fuel the expansion of the Pain Management Medicines Market. According to the American Academy of Pain Medicine, 1.8 billion individuals worldwide experienced chronic pain in 2011. Furthermore, according to the National Institutes of Health (NIH), one out of every ten adults in the United States suffers from chronic pain. According to a 2016 study published in the British Medical Journal, chronic pain affects about one-third to half of the population in the United Kingdom. Furthermore, around 50 million people in the United States suffer from chronic pain, according to NIH estimates published in 2015 by the American Pain Society.