About Pain Management
Pain management refers to the medical specialty or approach aimed at reducing and controlling pain experienced by individuals. It involves various techniques and strategies to alleviate pain and improve a person's quality of life. Pain can arise from various sources, such as injuries, medical conditions, surgeries, or chronic conditions. Pain management involves a multidisciplinary approach that may include medications, physical therapy, psychological interventions, etc.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market is fragmented by both small and big players who have locked horns with each other in the market and are making tireless efforts to gain supremacy over their counterparts. This cut-throat competition is expected to prove beneficial for the consumers who will now have a wide range of vendors, each of whom is willing to go an extra mile to attract the consumers. The strategy that can help these players in growing their customer base and expansion of their product portfolio. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Pain Management market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Pfizer Inc. (United States), Novartis AG(Switzerland), Merck & Co. Inc. (United States), Boston Scientific Corporation (United States), Becton, Dickinson and Company (United States), Medtronic PLC (Ireland), Johnson & Johnson Services, Inc. (United States), GlaxoSmithKline Plc (United Kingdom), Abbott Laboratories (United States) and Teva Pharmaceutical Industries Ltd. (Israel) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Mallinckrodt Pharmaceuticals (United Kingdom), AstraZeneca PLC. (United Kingdom), Purdue Pharma L.P. (United States), Depomed, Inc. (United States) and Endo International Plc. (Ireland).
Segmentation Overview
AMA Research has segmented the market of Global Pain Management market by Type (Pharmaceuticals and Devices), Application (Burn Pain, Cancer Pain, Dental/Facial Pain, Migraine Headache Pain, Musculoskeletal Pain, Neuropathic Pain and Obstetrical Pain) and Region.
On the basis of geography, the market of Pain Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Drug Class, the sub-segment i.e. NSAIDS will boost the Pain Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Mode Of Purchase, the sub-segment i.e. Over-The-Counter will boost the Pain Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Popularity of Rechargeable Spinal Cord Stimulators and Development of New Pain Management Technology
Market Growth Drivers:
Increasing Demand for Long-Term Pain Management among the Geriatric Population and High Proven Effectiveness of Pain Management Devices for the Treatment of Chronic Pain
Challenges:
Availability of Alternative Therapies for Pain Management
Restraints:
Low Awareness about the Use of Pain Management and Dearth of Pain Specialists and Low Number of Pain Clinics in Several Countries
Opportunities:
High Growth in the Number of Patients Suffering From Neuropathic Pain and Strict Regulations to Limit Opioid Pain Killer Prescriptions
Market Leaders and their expansionary development strategies
On May 9, 2019 - Boston Scientific announced that it has entered into a definitive agreement to acquire Vertiflex, Inc., a privately-held company that has developed and commercialized the Superion Indirect Decompression System, a minimally-invasive device used to improve physical function and reduce pain in patients with lumbar spinal stenosis (LSS).
In January 2021, Boston Scientific Corporation launched the WaveWriter Alpha, a portfolio of spinal cord stimulator (SCS) systems that combine therapy options for personalized pain relief.
In the United States, pain management falls under the purview of various regulatory bodies, including the Drug Enforcement Administration (DEA), the Food and Drug Administration (FDA), and the Centers for Medicare and Medicaid Services (CMS). Additionally, there are professional organizations such as the American Board of Pain Medicine (ABPM) and the American Society of Regional Anesthesia and Pain Medicine (ASRA) that set standards and guidelines for pain management professionals.
Key Target Audience
Producer of Pain Management Devices and Drugs, Suppliers of Pain Management Devices and Drugs, Wholesalers, Distributors, and Retailers of Devices and Drugs, Healthcare Industry, Governmental Bodies and Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.