Cancer Pain Market Overview:
The global cancer pain market was valued at $6,197.8 million in 2020, and is estimated to reach $10,329.4 million by 2030, growing at a CAGR of 5.3% from 2021 to 2030.
Cancer pain can be due to the disease condition itself or may be due to the associated surgery, chemotherapy, and others. There are various drugs used for the management of cancer pain. The drugs used for the treatment of cancer pain depend on the severity of pain for instance strong opioids are used preferably in case of severe pain whereas non-opioids such as acetaminophen and NSAIDs are preferred to treat mild to moderate cancer pain.
Growth of the global cancer pain market is majorly driven by increase in prevalence of cancer; rise in geriatric population; increase in healthcare expenditure; and increase in investments in R&D activities by various healthcare companies. For instance, according to American Cancer Society, nearly 1.8 million new cancer cases were diagnosed and about 606,520 cancer deaths were observed in the U.S. in 2020. According to the International Agency for Research on Cancer, in 2020, approximately 1,065,960 new cases were reported for colorectal cancer worldwide. The geriatric population is more vulnerable to various types of cancers, such as lung cancer, bladder cancer, renal cancer, melanoma, and others, due to aging effect and mutation in the gene. According to the National Cancer Institute, the median age for diagnosis is 61 years for breast cancer, 68 years for colorectal cancer, 70 years for lung cancer, and 66 years for prostate cancer. Furthermore, according to the Medicare and Medicaid Services, the National Health Expenditure (NHE) reached $3.8 trillion in 2019. The NHE increased by 4.6% in 2019, and accounted for 17.7% of the U.S. GDP. Surge in demand for monoclonal antibodies for the treatment of cancer boosts the growth of the cancer pain market.
However, adverse effect associated associated with the use of drugs employed in cancer pain management such as drug tolerance, drug dependence, urinary retention, sleep disorders, cognitive impairment, and others are expected to restrict the cancer pain market growth during the forecast period.
Cancer Pain Market Segmentation
The cancer pain market is segmented on the basis of drug type, disease indication, and region. By drug type, the market is categorized into opioids, non-opioids, and nerve blockers. On the basis of opioids, it is further bifurcated into morphine, fentanyl, and others. By non-opioids, the market is divided into acetaminophen and non-steroidal anti-inflammatory drugs (NSAIDS). By disease indication, it is divided into lung cancer, colorectal cancer, breast cancer, prostate cancer, blood cancer, and others.
Region wise, the cancer pain market is analyzed across North America (the U.S., Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Depending on drug type, the opioids segment dominated the market in 2020, and is expected to continue this trend throughout the forecast period, owing to rise in prevalence of severe cancer pain, increase in adoption of opioids in the management of cancer pain, and strong presence of pipeline drugs. However, the non-opioids segment is expected to witness considerable market growth during the forecast period, owing to easy availability and lower cost of drugs.
By Drugs Type
Opioids segment hold a dominant position in 2020 and would continue to maintain the lead over the forecast period.
On the basis of disease indication, the lung cancer segment dominated the cancer pain market in 2020, and is expected to continue this trend throughout the forecast period, due to increase in prevalence of lung cancer, higher incidence of pain associated with lung cancer, and availability of effective cancer pain analgesic for the treatment of lung cancer. However, the breast cancer segment is expected to witness considerable market growth during the forecast period, due to increase in prevalence of breast cancer and higher adoption of pain analgesic in the treatment of breast cancer.
By Disease Indication
Lung Cancer Segment hold the dominant position and would continue to maintain the lead over the forecast period.
North America accounted for a major share in the cancer pain market in 2020, and is expected to maintain its dominance during the forecast period, owing to rise in prevalence of cancer, technological advancements in healthcare sector, easy availability of pain therapeutics, and availability of premiere chemotherapy treatment options. However, Asia-Pacific is expected to register highest CAGR of 6.0% from 2021 to 2030, owing to rapid rise in the prevalence of cancer, rise in geriatric population, and increase in awareness related to early screening of cancer.
Asia Pacific region would exhibit the highest CAGR of 6.0% during 2020-2030.
List Of Key Companies
- Aoxing Pharmaceutical Company, Inc.
- BioDelivery Sciences International, Inc.
- CK Life Sciences (WEX Pharmaceuticals)
- Daiichi Sankyo Co., Ltd.
- Grünenthal Pharma GmbH & Co. KG
- Hisamitsu Pharmaceutical Co., Inc.
- Mundipharma International Limited
- Orexo AB
- Pfizer Inc.
- Teva Pharmaceutical Industries Limited
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the cancer pain market, and the current trends and future estimations to elucidate imminent investment pockets
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing cancer pain market opportunities
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the cancer pain market
Cancer Pain Market Report Highlights
By Drug Type
By DISEASE INDICATION
Key Market Players
AOXING PHARMACEUTICAL COMPANY, INC., MUNDIPHARMA INTERNATIONAL LIMITED, CK LIFE SCIENCES (WEX PHARMACEUTICALS)., HISAMITSU PHARMACEUTICAL CO., INC., PFIZER INC., BIODELIVERY SCIENCES INTERNATIONAL, INC., OREXO AB, TEVA PHARMACEUTICAL INDUSTRIES LIMITED, GRÜNENTHAL PHARMA GmbH & CO. KG, DAIICHI SANKYO CO., LTD.
According to analyst perspective, the cancer pain market is expected to witness a steady growth in the future. The market has drawn the interest of the healthcare industry, owing to increase in the prevalence of cancer across the world and rise in demand for ideal therapeutics for the management of cancer pain. In addition, rise in incidence of cancer, surge in R&D studies to develop ideal cancer pain therapeutics, wide availability of drugs for management of cancer pain and growth in adoption of cancer pain medications is projected to supplement the market growth during the forecast period. The cancer pain market is dominated by well-established players; hence, the market is anticipated to witness intense competition. Due to surge in use of cancer pain drugs owing to higher number of cancers affected patient population with developed healthcare infrastructure is expected to boost the market growth in the near future.