United States Pain Management Therapeutics Market, Forecast 2023-2030

Posted 2023-09-14 12:16:32

In a report named " United States Pain Management Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2030," issued recently by Renub Research, market share insights are incorporated along with a detailed industry analysis. The analysis of competitors, topographical regions, and growth for United States pain management therapeutics market is also enclosed in the report.

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United States pain management therapeutics market will grow at a CAGR of 3.65%, during 2022 and 2030. In recent years, there has been an increase in pain management therapeutics, because of the geriatric population in the United States. Furthermore, musculoskeletal conditions such as osteoarthritis, orthopaedic degenerative diseases, arthritis, and rheumatoid arthritis are on the rise. This has increased the prevalence of chronic pain in these people, as well as their inability to perform daily tasks. According to the Centers for Disease Prevalence and Control (CDC), over 58.5 million adults in the United States have arthritis. The CDC predicted that by 2040, approximately 35 million people would be limited in their usual activities due to arthritis. This has accelerated the market for pain management stimulators to control chronic pain.

Increased government spending on pain management treatments also drives market growth. Furthermore, various organizations, along with the government, fund pain management, is expected to contribute to market growth. For example, $250,000 is available to support and promote innovative, high-impact research for developing and managing chronic pain therapeutics, according to a recent article published in Congressionally Directed Medical Research Programs 2022.

Moreover, growth and innovations in the pharmaceutical industry for the production of pain-relieving drugs because of a large pool of health-conscious consumers create an opportunity for the U.S. pain management drug market. Boston Scientific Corporation obtained Baylis Medical Company, Inc. in February 2022. This acquisition expanded Boston Scientific's electrophysiology product and structural heart portfolios, including the VersaCross Transseptal and radiofrequency NRG Platforms and dilators used to allow left heart access. So, United States Pain Management Therapeutics Market will value about US$33.71 billion by 2030.

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Pharmaceutical pain management therapeutics are experiencing growth in the United States.

The demand for effective pain relief solutions has led to the development of innovative medications and treatments addressing various types of pain. Moreover, regulatory support, heightened research efforts, and evolving healthcare policies have facilitated the introduction of novel therapies. As healthcare providers prioritize comprehensive pain management approaches, the pharmaceutical sector responds with advanced options, contributing to the expansion of pain management therapeutics in the United States.

Therapeutics – United States pain management therapeutics Market has been covered from 2 viewpoints.

1. Pharmaceuticals

2. Devices

With its potential to provide long-term relief and enhance quality of life, neurostimulation's adoption is driving its remarkable growth in the U.S. pain management therapeutics market.

Neurostimulation has rapidly emerged as the fastest-growing segment in the U.S. pain management therapeutics market due to its non-invasive nature and effective relief for chronic pain. As patients seek alternatives to traditional medications, neurostimulation offers targeted pain modulation through implanted devices that deliver electrical impulses to the nervous system. This approach's success in managing conditions like neuropathic pain, migraines, and spinal cord injuries has garnered significant interest among patients and healthcare professionals alike.

Devices – United States pain management therapeutics Market has been covered from 4 viewpoints.

1. Electrical Stimulators

2. Radiofrequency Ablation

3. Analgesic Infusion Pumps

4. Neurostimulation

Due to their proven efficacy and availability, opioids remain a significant component of the United States pain management therapeutics market.

Opioids hold the largest share in the market due to their potent analgesic properties, widespread use for acute and chronic pain, and historical prominence. While concerns about addiction and misuse persist, opioids remain a cornerstone of pain relief, especially for severe pain cases. Extensive patient need, healthcare provider familiarity, and regulatory frameworks contribute to their dominance.

Drug Class – United States pain management therapeutics Market has been covered from 7 viewpoints.

1. Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)

2. Anesthetics

3. Anticonvulsants

4. Anti-Migraine Agents

5. Antidepressants

6. Opioids

7. Nonnarcotic Analgesics

Cancer pain is undergoing rapid expansion in the market due to the increasing prevalence of cancer and the need for effective pain relief.

With advancements in cancer treatment leading to prolonged survival, pain management has become paramount for maintaining patients' quality of life. The development of specialized medications and interventions tailored to cancer-related pain, along with a growing emphasis on palliative care, has propelled the demand for targeted pain management solutions.

Indication – United States pain management therapeutics Market has been covered from 11 viewpoints.

1. Arthritic Pai

2. Neuropathic Pain

3. Cancer Pain

4. Chronic Back Pain

5. Post-Operative Pain

6. Migraine

7. Fibromyalgia

8. Bone Fracture

9. Muscle Sprain/Strain

10. Acute Appendicitis

11 .Others

Chronic pain commands the highest market share and represents the fastest-growing segment in the U.S. pain management therapeutics market.

Factors such as an aging population, rising prevalence of conditions like arthritis and back pain, and a heightened focus on improving patients' overall well-being contribute to the growth. As research advances and treatment modalities evolve, pharmaceutical companies are innovating targeted solutions to address chronic pain, fostering its substantial market presence. The persistent need for effective long-term pain management positions chronic pain as a pivotal driver of growth in the U.S. pain management therapeutics market.

Pain Type – United States pain management therapeutics Market has been covered from 2 viewpoints.

1. Chronic Pain

2. Acute Pain

The online pharmacy sector continues to attract a widening customer base, propelling its remarkable growth within the market.

Due to the convenience and accessibility, it provides patients, the online pharmacy market has the highest market share and is the fastest-growing segment in the US pain management therapeutics industry. As digital healthcare gains traction, patients seek convenient prescription services, medication delivery, and information. The COVID-19 pandemic has accelerated this trend, leading to an increase in online purchases.

Distribution Channel – United States pain management therapeutics Market has been covered from 3 viewpoints.

1. Hospital Pharmacies

2. Retail Pharmacies

3. Online Pharmacies

Competitive Landscape.

Pfizer Inc., GlaxoSmithKline plc, Novartis International AG, Merck & Co., Inc., Abbott Laboratories, Johnson & Johnson, and Baxter International Inc. are all major players in the United States pain management therapeutics industry.

Company Insights.

• Overview

• Recent Development

• Financial Insight

Companies Covered.

1. Eli Lilly and Company

2. Pfizer Inc.

3. GlaxoSmithKline plc

4. Novartis International AG

5. Merck & Co., Inc.

6. Abbott Laboratories

7. Johnson & Johnson

8. Baxter International Inc.

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