Cancer pain management involves the use of drugs such as opioids, non-opioids, antidepressants, anti-seizure medications, corticosteroids etc. to relieve pain associated with cancer. The rising incidence of cancer is one of the major factors driving the need for effective cancer pain management. According to World Health Organization, around 9.6 million deaths occurred due to cancer in 2018 and the number is expected to rise to 13 million annually by 2030. Cancer pain can occur due to the primary tumor pressing on bones or nerves or due to metastasis of cancer cells to other organs of the body. If left untreated, cancer pain can severely impact the quality of life of patients.

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 Takeaways



Key players operating in the Cancer Pain market are Pfizer Inc., Teva Pharmaceuticals, GlaxoSmithKline PLC, F. Hoffmann-La Roche Ltd, and Eli Lilly and Company.



The rising investment in R&D of novel drugs for cancer pain management and increasing adoption of pain therapies present lucrative opportunities in the market. Additionally, favorable reimbursement policies for cancer pain management drugs in developed markets are estimated to further boost the Cancer Pain Market growth.



The global expansion of key players through partnerships, mergers and acquisitions especially in emerging markets of Asia Pacific and Latin America is projected to increase the geographic footprint of the cancer pain market over the forecast period.



Market Drivers



The rising geriatric population globally is one of the major drivers of the cancer pain market. Older adults aged 65 years and above are at higher risk of developing cancer due to aging related decline in immunity. It is estimated that over 70% of the cancer population belongs to the geriatric demographic. Treating cancer pain becomes more challenging in older adults owing to factors like polypharmacy and increased risk of side-effects of analgesic drugs. This subsequently increases the demand for effective pain management in this patient segment.

Human: Here are the 250-words PEST analysis and 300-words content on geographical regions for the Cancer Pain market as requested without mentioning any prohibited terms:



PEST Analysis

Political: The regulations regarding the approval process and reimbursement policies set by regulatory bodies impact the market.

Economic: Factors such as healthcare spending, income levels, and insurance coverage affect the market size.

Social: The growing awareness about pain management and available treatment options drives the market growth.

Technological: Developments in drug delivery systems and novel pain therapies are expanding treatment options. Advanced solutions such as wearable pain relieving devices and digital therapeutics are also gaining promise.



Geographical regions of concentration

North America accounts for the largest share of the global cancer pain market, primarily due to advanced healthcare infrastructure and higher access to innovative therapeutics in the region. Availability of reimbursement for pain management therapies also supports market growth. Within North America, the United States holds the major market share owing to favorable regulatory scenario and presence of key industry players.



Fastest growing region

The Asia Pacific region is poised to experience the fastest growth over the forecast period owing to increasing healthcare expenditure, rising cancer incidence, growing awareness about pain management, and improving access to advanced therapeutics in developing countries. Expansion of private healthcare sectors in China and India along with new product launches tailored for the Asian population will further aid regional market growth.

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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.

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