The advanced cancer pain management market involves various pain management therapies and medications that help relieve pain associated with advanced or metastatic cancer. Advanced pain management therapies for cancer includes opioids, analgesics, and other pain therapies approved for moderate to severe pain.
Opioids continue to be the mainstay for Advanced Cancer Pain Management Market, however, newer non-opioid therapies are being explored to avoid adverse effects of opioids like addiction, tolerance, and dependence.
The Global Advanced Cancer Pain Management Market is estimated to be valued at USD 8.1 Bn in 2024 and is expected to reach USD 12.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Key Takeaways
Key players: Key players operating in the advanced cancer pain management market include copyright, Teva Pharmaceuticals, Endo International, Purdue Pharma, Acacia Pharma, Orexo AB, and Daiichi Sankyo. These players are focusing on developing novel drug delivery systems, synergistic combinations, and non-opioid products.
Growing demand: Rising incidence of advanced cancer globally is driving the demand for effective pain management therapies. According to the World Health Organization (WHO), global cancer burden is expected to rise by over 60% in the next two decades boosting the need for advanced pain management options.
Technological advancement: Recent years have witnessed significant technological advancements in cancer pain therapies including transdermal patches, intrathecal drug delivery systems, and implantable infusion pumps leading to better management of moderate to severe cancer pain. Emerging therapies like cannabinoids and gene therapies also hold promise.
Market Trends
Increased adoption of combination therapies: Combination of opioid and non-opioid medications is becoming increasingly popular to maximize analgesia and minimize adverse effects. Key trends involve development of synergistic combinations through advanced drug delivery systems.
Focus on non-opioid therapies: With growing concerns over opioid addiction and overdose, pharmaceutical companies are investing heavily in development of non-opioid alternatives like lidocaine patches, capsaicin cream, and ketamine for cancer pain management.
Market Opportunities
Untapped emerging markets: Many developing nations still have inadequate pain management infrastructure and protocols offering scope for multinational companies to boost access through collaborative programs and affordable options.
Novel drug delivery: Areas like transdermal patches, intrathecal pumps, and advanced formulation approaches hold promise for improving compliance and outcomes through controlled long-term delivery of medications for cancer pain.
Impact of COVID-19 on Advanced Cancer Pain Management Market Growth
The COVID-19 pandemic has significantly impacted the growth of the advanced cancer pain management market. During the initial stages of the pandemic, most non-essential medical procedures and routine patient check-ups were either postponed or cancelled to focus medical resources on treating COVID-19 patients. This led to reduced demand for advanced cancer pain management drugs and therapies in 2020. However, as the pandemic progressed, healthcare systems started developing protocols and procedures to safely provide cancer care along with COVID-19 treatment.
Telehealth emerged as an important medium to continue cancer consultations and management of pain during the pandemic. Several pharmaceutical companies also enhanced their patient support programs to ensure continuous supply of pain medications. Regulatory agencies took measures to ease import/export of essential drugs. Despite short-term decline, the long-term outlook for advanced cancer pain management remains positive due to rising cancer incidence, aging population, and increased access to innovative therapeutics. Governments and healthcare providers are also focusing on maintaining cancer treatment services while protecting against coronavirus spread through vaccination drives and modified facility operations.
Geographical Regions with High Value Share in Advanced Cancer Pain Management Market
North America currently holds the highest value share in the advanced cancer pain management market owing to aging population, high healthcare spending, and widespread medical insurance coverage in countries like the United States. The region is also an early adopter of novel therapies in oncology as well as pain management. Several leading biopharma companies have their headquarters in North America, stimulating intensive R&D activities and new product launches.
Fastest Growing Regional Market for Advanced Cancer Pain Management
Asia Pacific market is poised to expand at the fastest pace during the forecast period. This is attributed to rising cancer burden, growing disposable income, increasing healthcare awareness as well as enhanced access to advanced treatments in emerging Asian countries. Governments are strengthening regulatory frameworks and promoting healthcare infrastructural development projects. Additionally, several multinational pharmaceutical manufacturers are shifting focus towards the Asia Pacific region recognizing its future market potential.
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