Cancer Pain Market is Estimated to Witness High Growth Owing to Advancements in Pain Management Therapies

Cancer pain management involves the use of medications, radiation therapy, nerve blocks, and other procedures to relieve pain caused by cancer or its treatment. As cancer progresses, tumors can put pressure on bones, nerves, organs and blood vessels, causing moderate to severe pain. Pain management therapies are aimed at effectively managing such cancer pain through various pharmacological and non-pharmacological options. Advancements in pain management therapies such as targeted drug delivery systems, localized anesthesia techniques, and neuromodulation therapies are estimated to relieve cancer pain more efficiently.

The cancer pain market is estimated to be valued at USD 7.21 Bn in 2024 and is expected to reach USD 10.35 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.

Key players operating in the Cancer Pain Market are Pfizer, Johnson & Johnson, Eli Lilly & Company, Assertio Therapeutics, Inc., and Teva Pharmaceuticals.

The Cancer Pain Market growing awareness regarding pain management and the rising demand for non-opioid therapies are offering significant growth opportunities in the market.
Technological advancements in pain therapies such as transdermal drug delivery, neuromodulation, and targeted drug delivery are also fueling market growth.

Market drivers
According to WHO, around 18 million new cancer cases were reported globally in 2018. The increasing prevalence of cancer around the world is a key factor bolstering the demand for effective pain management therapies. Additionally, the rising focus of leading pharmaceutical players on developing novel formulations is also expected to drive the cancer pain management market over the forecast period. The market is further driven by factors such as the growing demand for long-term pain relief therapies and increasing insurance coverage for palliative cancer care.

Current Challenges in Cancer Pain Market

The cancer pain market is facing several challenges currently. One of the major challenges is inadequate pain management among cancer patients. Studies show that nearly 50-70% of advanced cancer patients suffer from moderate to severe pain but only 30-50% receive adequate pain relief. Other challenges include lack of awareness about available pain management options, stigma associated with opioids, regulatory hurdles and associated costs of newer pain therapies. Lack of integration of palliative care early in cancer treatment is also a concern impacting effective pain management. Overall, more efforts are needed to address pain as the fifth vital sign and ensure all cancer patients get access to optimal pain relief through multidisciplinary care.

SWOT Analysis

Strength: Emergence of newer drugs and drug delivery technologies help expand options to manage diverse cancer pain. Weakness: High costs of newer therapies remain a barrier. Opioid abuse and risk of addiction with long term use pose challenges. Opportunity: Growing awareness is improving early integration of palliative care. Higher focus on non-opioid treatment options from regulatory bodies also provide new opportunities. Threats: Stringent regulatory approval processes and reimbursement hurdles can delay patient access to newer innovative therapies. Side effects and resistance also threaten long term outcomes.

In terms of value, North America holds nearly half of the global cancer pain market share currently led by the US. However, Asia Pacific region is emerging as the fastest growing market for cancer pain management given increasing cancer burden, rising healthcare investments and growing demand for quality pain care in countries like China and India. Europe also captures over one-third of current market value but growth is anticipated to remain moderate during forecast period.

The Asia Pacific region is projected to witness the highest CAGR in the global cancer pain market during the forecast period. This is attributed to factors such as rising geriatric population, improving healthcare infrastructure, increasing disposable incomes, and growing awareness about available pain management treatments in the region. Furthermore, high prevalence of cancer, presence of less stringent regulations, and expanding footprint of global pharmaceutical companies in emerging Asia Pacific countries is likely to fuel the regional market growth. China and India are anticipated to drive the demand majorly.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)