North America held nearly half of the global postoperative pain management market share in 2021.
New york, NY — (ReleaseWire) — 03/31/2022 — New York: Rising prevalence of postoperative pain, emergence of potential treatment therapies, and development of novel drug delivery approaches are some of the many factors that are expected to drive the growth of the global postoperative pain management market. The market is currently valued at 35.5 Bn, and is expected to witness steady growth during the forecast period at a CAGR of around 5% (2022-2031).
Postoperative pain may cause severe problems such as respiratory, cardiovascular, endocrine, and metabolic dysfunctions, and thus, postoperative pain management is necessary. Growing number of surgical procedures and increasing awareness about postoperative pain management are expected to act as key factors for market growth. According to the National Center for Health Statistics, out of the total surgical procedures, half need postoperative pain management, which provides a high opportunity for market players.
All opioid-based postoperative pain management drugs have substantial adverse effects that are limiting their use. As per CDC, 56,064 people died due to prescription opioid overdose in 2021. Growing incidence of drug overdose and side effects related to postoperative pain management drugs are expected to stunt overall growth of the market to some extent. However, drug manufacturers are focusing on the development of non-opioid drugs with a novel drug delivery approach for extended-release of medications, which can provide relief from postoperative pain for a longer duration of time.
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Key Takeaways from Market Study
– Owing to the efficacy of opioid drugs in providing intense pain relief, the opioids segment held more than 2/3 of the global market in 2021.
– Oral route of administration accounted for 37% of the global market share in 2021.
– Retail pharmacies and hospitals together as distribution channel partners held more than half of the global market share in 2021.
– North America held nearly half of the global postoperative pain management market share in 2021.
“Surge in number of patients undergoing surgical procedures, rising prevalence of postoperative pain, increasing treatment rate of postoperative pain, and commercial availability of abuse-deterrent opioid drugs are expected to drive market growth over the decade,” says a Persistence Market Research analyst.
Who is Winning?
Various companies manufacturing postoperative pain management drugs are collaborating with different pharmaceutical companies for the development of non-opioid-based analgesics, and also with organizations for developing integrated approaches toward pain management, and the prevention of diversion of prescription opioid medications and the signs of potential abuse or addiction associated with opioid medications.
With the ongoing opioid epidemic in the U.S., all major manufacturers are also focusing on developing novel analgesic drugs for postoperative pain management.
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For instance, in 2020, Haihe Pharmaceutical Co. Ltd. signed an agreement with 3D Biomedicine Science & Technology Co. Ltd. to outsource the China rights for its RMX-1001 and RMX-1002 non-opioid analgesics candidates.
Key market players are Teva Pharmaceutical Industries Ltd., Allergan plc, Pfizer Inc., Novartis AG, Mylan N.V., Purdue Pharma L.P, Pacira Pharmaceuticals Inc., Endo International plc, Egalet Corporation GlaxoSmithKline Plc, and Janssen Pharmaceuticals, Inc.
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What Else is in the Report?
Persistence Market Research offers a unique perspective and actionable insights on the postoperative pain management market in its latest study, presenting a historical demand assessment of 2016 – 2021 and projections for 2022–2031, based on drug class (opioids, NSAIDs, local anesthetic, and acetaminophen), route of administration (injectable, oral, topical, transdermal, and others), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, clinics, and others), across seven key regions of the world.
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