Post-operative Pain Therapeutics Market: Introduction
According to the report, the global post-operative pain therapeutics market was valued at US$ 10.1 Bn in 2020 and is projected to expand at a CAGR of 5.7% from 2021 to 2031. Increase in surgical procedures followed by post-surgical problems is anticipated to drive the global post-operative pain therapeutics market during the forecast period. Key players focus on manufacturing of cost-effective post-operative pain therapeutics. The global post-operative pain therapeutics market is expected to be driven by increase in the number of elderly patients, rise in prevalence of diseases, surge in number of regulatory approvals, and demand for post-operative pain therapeutics.
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Asia Pacific held major share of the global post-operative pain therapeutics market in 2020 due to the presence of large number of key players, rise in demand for post-operative pain therapeutics, and increase in elderly patients. The post-operative pain therapeutics market in Asia Pacific is expected to expand at a CAGR of 6.4% from 2021 to 2031 owing to surge in number of elderly patients and increase in product approvals from regulatory authorities. This, in turn, is likely to drive the demand for post-operative pain therapeutics in emerging markets such as India and China.
Advent of New Technology to Drive Global Market
The postoperative pain therapeutics market has witnessed significant investments by multinational corporates in the past few years. These business conglomerates have invested in companies operating in the postoperative pain therapeutics market. Camurus AB announced that the regulatory agency of Australia, the Therapeutic Goods Administration (TGA), approved key label updates to Buvidal Weekly and Buvidal Monthly (buprenorphine) modified-release solutions for injection for the treatment of opioid dependence.
Pacira BioSciences, Inc. received the FDA approval for its supplemental new drug application (sNDA) to broaden the use of EXPAREL (bupivacaine liposome injectable suspension) to include administration via interscalene brachial plexus block to produce postsurgical regional analgesia. Trevena announced FDA approval for OLINVYK (oliceridine) injection. OLINVYK is a new chemical entity approved in adults for the management of acute pain severe enough to require an IV opioid analgesic.
Pfizer, Inc. focuses on the development of biosimilar formulations in key therapeutic areas, owing to its potential to improve patient care by extending access to high quality, effective, and targeted treatment for multiple serious and chronic diseases.
Opioids Dominated Post-operative Pain Therapeutics Market
In terms of drug class, the global post-operative pain therapeutics market has been classified into opioids, NSAIDS, local anesthetics, tricyclic antidepressants, antiepileptic drugs, and others. The opioids segment dominated the global post-operative pain therapeutics market in 2020 and the trend is projected to continue during the forecast period. Increase in demand for opioids is expected to drive the segment over the next few years.
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Oral Preferred Route of Administration
In terms of route of administration, the global post-operative pain therapeutics market has been categorized into oral, intramuscular, intravenous, and others. The oral segment dominated the global post-operative pain therapeutics market in 2020, and the trend is projected to continue during the forecast period.
Hospital Pharmacies to be Lucrative Distribution Channel
In terms of distribution channel, the global post-operative pain therapeutics market has been divided into hospital pharmacies, retail pharmacies, online pharmacies, and others. The hospital pharmacies segment held major share of the global post-operative pain therapeutics market in 2020.
Asia Pacific to Lead Global Market
In terms of region, the global post-operative pain therapeutics market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific is projected to account for leading share of the global post-operative pain therapeutics market during the forecast period, owing to increase in number of patients suffering from chronic diseases in hospitals. The post-operative pain therapeutics market in Asia Pacific is projected to grow at a rapid pace in the next few years. India, China, and South Korea are expected to be lucrative markets in the near future.
Growth Strategies of Key Players
Key players operating in the global post-operative pain therapeutics market are Allergan plc, Bayer AG, Camarus, Eli Lilly & Company, Egalet Corporation, Endo International plc, Janssen Pharmaceuticals, Inc., GlaxoSmithKline plc, Mallinckrodt Pharmaceuticals, Mylan N.V., Novartis AG, Pacira Pharmaceuticals, Inc., Pfizer, Inc., Purdue Pharma L.P, Teva Pharmaceutical Industries Ltd., and Trevena, Inc.
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