United States Pain Management Therapeutics Market Analysis Report 2022: Market Size was Valued at $6.75 Billion in 2021 and will Reach $12.55 Billion in 2028
United States Pain Management Therapeutics Market
Dublin, April 29, 2022 (GLOBE NEWSWIRE) -- The "United States Pain Management Therapeutics Market, Forecast 2022-2028, Industry Trends, Outlooks, Impact of COVID-19, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
U.S. Pain Management Therapeutics Market Size was valued at US$ 6.75 Billion in 2021 and will reach US$ 12.55 Billion in 2028
Patients with acute and chronic pain has faced a crisis in the United States for years due to severe problems accessing sufficient care, resulting in considerable physical, emotional, and societal expenses.
To treat pain caused by inflammation in reaction to tissue injury, chemical agents/pathogens (nociceptive pain), or nerve damage, a variety of pain management therapies are employed (neuropathic pain).
Most gadgets and medications work by attaching to protein targets on cell membranes and altering the body's biochemical processes. Nonetheless, prescription opioids, heroin, and synthetic opioids have been linked to an alarming increase in overdose mortality during the last two decades.
U.S. Pain Management Therapeutics Industry will grow with 9.3% CAGR from 2021-2028
In recent years, because of the geriatric population in the United States, there has been an increase in pain management therapeutics.
Furthermore, the rising preponderance of diseases such as cancer, diabetic neuropathy, osteoarthritis, and chronic arthritis and an increase in surgical procedures and healthcare spending are key factors driving the market for pain management therapeutics in the United States. Furthermore, rising healthcare awareness propels the global pain management medications market forward.
COVID-19 Outbreak Effect on Pain Management Therapeutics Industry in the United States:
Most industries, including the medical device industry, were affected by the COVID-19 pandemic. Patients who rely on exercise programs or physical therapy as a pain management regimen have been affected by nationwide lockdowns.
Furthermore, numerous elective surgeries and in-person patient visits have been halted or postponed, increasing the demand for at-home pain therapy. Lockdown measures adopted by governments in many nations also hampered manufacturing activities. Furthermore, the supply chain was interrupted, resulting in raw material shortages.
By Pain Type, United States Pain Management Therapeutics Market Is Classified into Acute Pain and Chronic Pain:
The United States Pain Management Therapeutics Industry is divided into two categories in our report: Acute Pain and Chronic Pain. Acute pain occurs suddenly, whereas chronic pain lasts for a long time.
Chronic pain is mainly caused by bone and joint aging, nerve damage, and injury. To treat or lessen the symptoms of these types of pain, a specific collection of medications is used. On the other hand, the pain process is complicated, and there is a range of medicines that provide relief by working on a variety of physiological mechanisms.
Pharmaceuticals Holds the Dominant Share In The Market:
Pharmaceuticals and devices are among the numerous forms of pain-relieving medications based on therapies, and each therapeutic operates in a slightly different way.
Furthermore, the effectiveness of a pain-relieving medicine for a particular type of pain and the risk of adverse effects in a specific person determine the medication's selection. Pharmaceuticals, according to our research, have the largest market share. Furthermore, with technological advancements, the gadgets segment is likely to rise.
Device Insights of Pain Management Therapeutics Industry in the United States:
The neurostimulation category controls the significant market. The rising occurrence of neurological illnesses can be blamed for dominance.
Furthermore, neurostimulators are essential in treating chronic pain, Parkinson's disease, epilepsy, movement disorders, and depression. In addition, the segment is expected to develop due to factors such as rising product demand, the launch of technologically sophisticated items, and the growing elderly population.
Aside from that, due to its broad applicability in pain management, surgical oncology, gynecology, cardiology & cardiac rhythm management, and cosmetology, radiofrequency ablation is predicted to increase at the quickest rate over the projection period. Radiofrequency ablation is more advantageous than open surgery in treating patients with numerous tumors, which drives up demand.
NSAIDs Segment Reports Foremost Market Share:
NSAIDs have the largest market share in the US pain management therapeutics industry. The substantial market share of NSAIDs is due to their availability as over-the-counter medications and inexpensive costs. Nonsteroidal anti-inflammatory medicines are also in high demand due to characteristics such as the convenience of use and fast pain alleviation (NSAIDs).
By Indication, Neuropathic Pain is projected to dominate the Indication Segment:
The somatosensory nerve system is damaged or afflicted, resulting in neuropathic pain. The majority of neuropathic pain is persistent. One instance of neuropathic pain is phantom limb syndrome.
When a leg or an arm is severed due to an injury or sickness, the brain continues to receive pain signals through the nerves used to carry impulses from the missing limb. Pain is caused by nerve misfiring. Because neuropathic pain is chronic, pain-relieving drugs are given frequently, resulting in a significant revenue share.
Key Companies Insights:
Eli Lilly and Company, Pfizer Inc., GlaxoSmithKline plc, Novartis International AG, Merck & Co., Inc., Abbott Laboratories, Johnson & Johnson, and Boehringer Ingelheim are among the prominent industry participants covered in the analysis.
To increase their market position in the United States, significant corporations have attempted several strategic efforts, including technology innovation, partnerships, regional expansion, and mergers and acquisitions.
Eli Lilly and Company
Novartis International AG
Merck & Co., Inc.
Johnson & Johnson
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. US Pain Management Therapeutics Market
6. Market Share - US Pain Management Therapeutics Market
6.1 By Therapeutics
6.2 By Devices
6.3 By Drug Class
6.4 By Indication
6.5 By Pain Type
7. Therapeutics - US Pain Management Therapeutics Market
8. Devices - US Pain Management Therapeutics Market
8.1 Electrical Stimulators
8.2 Radiofrequency Ablation
8.3 Analgesic Infusion Pumps
9. Drug Class - US Pain Management Therapeutics Market
9.1 Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
9.4 Anti-Migraine Agents
9.7 Nonnarcotic Analgesics
10. Indication - US Pain Management Therapeutics Market
10.1 Arthritic Pain
10.2 Neuropathic Pain
10.3 Cancer Pain
10.4 Chronic Back Pain
10.5 Post-Operative Pain
10.8 Bone Fracture
10.9 Muscle Sprain/Strain
10.10 Acute Appendicitis
11. Pain Type - US Pain Management Therapeutics Market
11.1 Chronic Pain
11.2 Acute Pain
12. Porter's Five Forces Analysis
12.1 Threat of New Entry
12.2 The Bargaining Power of Buyer
12.3 Threat of Substitution
12.4 The Bargaining Power of Supplier
12.5 Competitive Rivalry
13. Company Analysis
13.2 Recent Development
13.3 Financial Insights
For more information about this report visit https://www.researchandmarkets.com/r/3fszhk
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