The global cancer pain market size is expected to reach USD 8.51 Billion in 2028 at a CAGR of 4.3% during the forecast period, according to the latest report by Reports and Data. Rapidly rising prevalence of cancer globally, increasing focus on accelerating cancer research and development of advanced therapeutics, and growing awareness of cancer pain as a clinical problem are key factors expected to drive market revenue growth over the forecast period. In addition, rapid advancements in neuromodulation techniques, development of cost-effective non-invasive procedures, and increasing access to opioid medications are some other factors expected to contribute to market growth going ahead.
Cancer pain is one of the most significant clinical problems globally and has a significant impact on clinical outcomes. Cancer pain is a complex biological phenomenon that is not clearly understood and is observed in over 59% of cancer patients on anti-cancer treatment and 64% of patients with advanced and metastatic cancer. Proper use of therapeutic approaches can result in effective pain control in over 90% of cancer patients. However, cancer pain is still highly undertreated across the globe. In each cancer patient, different causes and mechanisms can be responsible for cancer pain and can differ with an array of tumor-related and host-related processes and factors. Increasing importance of relieving and alleviating pain and symptoms and availability of effective therapies is making it important for physicians and nurses to properly assess and treat cancer pain. Increasing number of government initiatives to raise awareness regarding cancer pain management is also expected to contribute to market growth going ahead.
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In addition, rising use of non-opioids, co-analgesics, and non-pharmacological approaches to enhance analgesic control, reduce opioid dependency, and minimize adverse reactions associated with opioid use is also expected to contribute to market growth. However, lack of knowledge regarding efficient management of cancer pain, limited accessibility to opioids, and unavailability of robust healthcare infrastructure and skilled professionals in developing and underdeveloped countries are some key factors expected to restrain market growth to a certain extent over the forecast period.
Some Key Highlights from the Report:
- Opioids segment is expected to account for largest revenue share in the global market over the forecast period, attributable to increasing use of opioids to treat moderate to severe pain, availability of opioids in different formulations, and opioids being the gold standard of cancer pain management therapies.
- Rising prevalence of lung cancer globally, increasing intensity of pain in lung cancer patients, and implementation of pharmacological and non-pharmacological measures for management of pain associated with lung cancer are key factors contributing to revenue growth of the lung cancer segment.
- Parenteral route of administration segment is expected to register rapid revenue CAGR over the forecast period, owing to increasing preference for intravenous administration of opioids for effective management and control of pain in cancer patients. Parenteral administration offers numerous advantages such as higher bioavailability, reliable dosage, better control over dose and rate of administration, and rapid effect due to direct administration into circulation.
- North America is expected to account for largest revenue share over the forecast period, attributable to high incidence rate of cancer, large number of clinical trials for cancer therapeutics, presence of key market players, increasing investment and funding to boost cancer research, and availability of advanced healthcare and research facilities.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
Sanofi SA, Teva Pharmaceuticals Industries Ltd., Johnson & Johnson, Daiichi Sankyo Company, BioDelivery Sciences International, Sorrento Therapeutics Inc., Pfizer Inc., Hisamitsu Pharmaceutical Co. Ltd., Orexo AB, and Insys Therapeutics Inc.
Cancer Pain Market Segmentation:
Drug Type Outlook (Revenue, USD Billion; 2018-2028)
- Opioids
- NSAIDs
- Nerve Blockers
- Others
Disease Indication Outlook (Revenue, USD Billion; 2018-2028)
- Lung Cancer
- Colorectal Cancer
- Breast Cancer
- Blood Cancer
- Prostate Cancer
- Others
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Parenteral
- Oral
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Cancer Pain market over the forecast period?
- What are the major factors driving the growth of the Global Cancer Pain Market?
- What are the key challenges impacting the global Cancer Pain market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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