Inflammatory Pain Therapeutic Market is driven by increasing prevalence of arthritis
The inflammatory pain therapeutic market is primarily driven by the increasing prevalence of arthritis across the globe. Arthritis is a common cause of inflammatory pain and affects millions of people worldwide. Some of the major types of arthritis include osteoarthritis, rheumatoid arthritis, psoriatic arthritis, etc. According to stats, over 54 million adults have been diagnosed with arthritis in the U.S as of 2020. By 2040, an estimated 78 million U.S adults will have doctor-diagnosed arthritis. Arthritis causes inflammation, pain, and swelling in joints and surrounding tissues. Various types of medications like NSAIDs, opioids, corticosteroids, immunosuppressants are used to manage inflammatory pain caused by arthritis.
The inflammatory pain therapeutic market is estimated to be valued at USD 4.76 billion in 2024 and is expected to reach USD 7.06 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031..
Key players operating in the inflammatory pain therapeutic market are Pfizer, Eli Lilly, AbbVie, Johnson & Johnson, GlaxoSmithKline.
Key Takeaways
Growing demand: There is a growing demand for advanced and targeted pain relief Inflammatory Pain Therapeutic Market gowing to the surge in arthritis diagnosis and growing awareness about pain management options. Biosimilars and novel drug delivery mechanisms are being explored to target the underlying causes of inflammatory pain.
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