The global advanced cancer pain management market is anticipated to attain a valuation of USD 7,265.44 million in 2023 and is estimated to reach USD 11,540 million by 2033, trailing a CAGR of 4.74% during the forecast period.
With the rising prevalence of cancer, the awareness for the disease as well as the cancer induced pain is also increasing. This is leading to the increasing healthcare expenditure for diagnosis and therapeutics of the cancer related pain.
According to the Organization for economic cooperation and development, the preliminary estimates of healthcare spending for a group of 16 OECD countries jumped to about 10% of GDP in 2020. Thus, the surging healthcare expenditure and government support across the globe is expected to fuel growth of advance cancer pain management market.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 7265.44 million |
| Anticipated Forecast Value (2033) | USD 11540 million |
| Projected Growth Rate (2023 to 2033) | CAGR 4.74% |
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The industry for advanced cancer pain management recorded a valuation of USD 6,150 million in 2018, while growing at a CAGR of 3.39 % during the historical period. There are various marketed drugs in the market by several companies. For example, ULTRAM (tramadol hydrochloride) by Janssen Ortho, LLC; Hydromorphone Hydrochrloride by Janssen Korea, Limited, Oxycodone by Taiwan Mundipharma Pharmaceuticals Ltd, and Lazanda (Fentanyl) by Insys Therapeutics, Inc., among others. These drugs are expected to present growth opportunities for the market of advanced cancer pain treatment in the upcoming years.
Various market players are also investing in research and development activities for development of more effective drugs for the treatment of advanced cancer pain. Some of these emerging drugs include Morphine sulfate by Tetra Biopharma/Cognitive Research Corporation, Resiniferatoxin by Sorrento Therapeutics, Inc., and Pregabalin by Institut Cancerologie de l'Ouest/Grunenthal GmbH. Likewise, Sorrento's resiniferatoxin received Food and drug administration’s clearance for proceeding with its Phase two clinical study for using epidural resiniferatoxin as a therapeutic medicine for intractable pain related with advanced cancer.
On the other hand, Patients suffering from advanced or metastatic cancer cannot be treated for cancer pain only with analgesics. They require invasive techniques like peripheral nerve blockers and neuraxial analgesia for vertebral pain, among others. Surging advancements in nerve blockers to improve pain control and offer long-term relief to advanced cancer patients are also anticipated to drive market revenue growth during the forecast period. Considering the above-mentioned factors and new developments, the revenue growth of Advanced cancer pain treatment market is projected to be worth USD 11,540 million by end of the forecast period, while exhibiting a CAGR of 4.74%.
Availability of effective therapies and increasing healthcare expenditure driving market growth
The growth of the global advanced cancer pain treatment market is primarily driven by rising prevalence of cancer; growth in geriatric population, increasing healthcare expenditure and mounting investments in research and development activities by various healthcare companies. For example, according to American Cancer Society, nearly 1.80 million new cancer cases were diagnosed and about 606,525 cancer deaths were observed in the United States, in 2020. Also, according to the International Agency for Research on Cancer, approximately 1,065,960 new cases were reported for colorectal cancer worldwide in 2020. This rising trend in cancer cases will create market space for the expansion of cancer pain management market during the forecast period.
The geriatric population is more susceptible to various types of cancers, such as lung cancer, renal cancer, bladder cancer, melanoma, and others, owing to aging effect and mutation in the gene. According to the National Cancer Institute, the average age for diagnosis is 60 years for breast cancer, 67 years for colorectal cancer, 70 years for lung cancer, and 66 years for prostate cancer. Moreover, according to the Medicare and Medicaid Services, the National Health Expenditure reached $3.80 trillion in 2019. The National health expenditure increased by 4.6% in 2019, and accounted for approximately 17.7% of the United States GDP. Increase in demand for monoclonal antibodies for the treatment of cancer induced pain is also expected to boost growth of the advanced cancer pain market.
Also, availability of effective therapies and growing focus on relieving advanced cancer pain are leading to advancements in understanding the etiology and pathophysiology of cancer pain that is benefiting the market. Furthermore, surging investments and efforts to develop comprehensive approach to classify cancer pain due to growing emphasis on proper management and treatment of advanced cancer pain are also anticipated to drive market growth during the forecast period.
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Adverse effects to restrain market growth
Side-effects associated with the use of drugs employed in cancer pain treatment such as drug tolerance, dependence on drugs, urinary retention, sleep disorders, cognitive impairment, and others are anticipated to hamper the cancer pain market growth over the forecast period.
Also, dearth of awareness among clinicians in effective management of cancer pain, absence of opioids in developing countries, and dearth of established healthcare infrastructure in low- and middle-income countries are some key factors anticipated to restrain market growth during the forecast period.
North America dominates the market with maximum share
North America is expected to dominate the market of Advanced cancer pain treatment by accounting for 42.9% market share by end of the forecast period. This region is anticipated to retain its dominance during the forecast period, due to growing prevalence of cancer, technological advancements in healthcare, easy access and availability of pain therapeutics, and availability of better-quality chemotherapy treatment options.
The growth in this region is also attributed to favorable healthcare infrastructure, which encourages easy access to advanced pain management devices. Furthermore, rising government initiatives, like Precision Medicine and Affordable Care Act, along with a well-planned reimbursement policy in this region is supporting market growth. The regional market is also propelled by the presence of robust healthcare facilities, surging aging population, and rising incidences of hypertension and stroke. With the increase in elderly population, the market is anticipated to show a higher growth rate, as the elder population is at greater risk of severe illness. Thus, leading to market growth in the region.
Asia Pacific driving growth with fastest CAGR
The market in Asia Pacific is projected to exhibit fastest CAGR of 5.5% during the forecast period. The growth is attributable to increasing incidence of cancer, rapid advancements in cancer research, development of strong therapeutic pipeline, easy availability of advanced cancer drugs, and growing focus on palliative and end-of-life care.
This growth can also be attributed to research and developments investments in producing technologically advanced healthcare therapeutic options. Furthermore, the presence of numerous trade agreements is also leading to market growth in the region. For example, the Asia Pacific Trade Agreement between China, India, Bangladesh, Lao PDR, Republic of Korea, Mongolia, and Sri Lanka has encouraged trade liberalization and increased import and export opportunities amongst participating nations. This will lead to market growth in this region.
In addition, strengthening of healthcare infrastructure, growing per capita income, increasing geriatric population, and increasing prevalence of advance chronic pain in the region is leading to market growth. According to the United Nations Department of Economic and Social Affairs report on world population aging, the number of elderly people in Asia is anticipated to increase by two-fold, from 394 million in 2019 to 588 million by 2030. Elderly people are at a greater risk of chronic pain conditions, like arthritis, neuropathic disorders, and back pain, which, in turn, drives the demand for drugs and devices for the treatment of chronic pain including cancer pain.
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Cannabinoids driving growth with significant market share
The cannabinoids segment dominated the market in 2021, and is anticipated to continue the trend during the forecast period by reaching market share of 35% by end of the forecast period. The growth is attributed to rising prevalence of severe cancer pain, surge in adoption of cannabinoids in the treatment of cancer pain, and robust presence of pipeline drugs.
A significant number of patients are turning to cannabis and cannabinoids for management of their palliative and nonpalliative cancer pain and other cancer-associated symptoms which is expected to drive growth of this segment.
A cohort study using ‘nabiximols’ on advanced cancer pain in patients already using opioids, over 3 weeks, showed improved average pain score. A large observational study of cancer patients using cannabis over 6 months showed a reduced number of patients with acute pain and reduced opioid use, whereas the number of patients reporting good quality of life were increased. Good preclinical animal data and a vast body of observational evidence point to the potential effectiveness of cannabinoids for cancer pain treatment.
Intravenous segment driving industry growth with dominating share
This segment is anticipated to dominate the market of advance cancer pain management market by accumulating a market share of 78% by end of the forecast period. This segment is also expected to grow with fastest CAGR of 8.9% during the forecast period. Intravenous administration offers various advantages like high bioavailability of pain medications, better dose control and administration rate, and generation of stable pharmacodynamics and pharmacokinetics profiles. This is anticipated to boost adoption of intravenous route of administration during cancer pain management therapies. Also, intravenous administration of morphine allows better management of pain in patients suffering from severe cancer pain, for breakthrough pain, and in patients with weak pain control under high opioid dosages, which is anticipated to further boost revenue growth of the segment during the forecast period.
Hospital Pharmacies to drive growth with maximum market share
Hospital pharmacies are expected to dominate the market of advance cancer pain management by reaching 67.2% market share by end of the forecast period. This segment is also anticipated to grow with fastest CAGR of 7.6% during the projected period. Factors such as growing preference and trust of suffered patients towards hospital environments, government focus on strengthening healthcare infrastructure, easy access to treatment facilities are some factors leading to the growth of this segment. Furthermore, the drugs developed by various industry companies after intense research and development activities directly benefits the hospital pharmacies. This will also contribute to expansion of this segment in the forecast period.
Start-ups help in determining the future growth opportunities in any market. These new entrants have the potential to generate high returns which directly benefits the expansion of any industry. These start-ups are typically more efficient at transforming inputs into outputs with more flexibility and adaptability in nature, able to shift quickly in response to sensitive market conditions. Some of the start-ups that will bolster the expansion of Advanced cancer pain management market are:
The advanced cancer pain management market is extremely competitive and consists of several industry players. These players are developing novel delivery systems for treating Advanced cancer pain management. This is estimated to propel advanced cancer pain management market. The key players in this industry are: WEX Pharmaceuticals Inc, Jazz Pharmaceuticals, Nobelpharma Co., Ltd, Tetra Bio-Pharma Inc., Pfizer, Recipharm, eurofins, Sigma-Aldrich, AstraZeneca, GlaxoSmithKline plc. Key market players are tending towards adoption of inorganic growth strategies like acquisition, mergers, partnerships, and collaboration in order to strengthen their product portfolio. This is anticipated to fuel the global Advanced cancer pain management market.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 7,265.44 million |
| Market Value in 2033 | USD 11,540 million |
| Growth Rate | CAGR of 4.74% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
The market is estimated to secure a valuation of US$ 7,265.44 million in 2023.
The market is estimated to reach US$ 11,540 million by 2033.
Side-effects of using drugs is likely to limit market growth.
WEX Pharmaceuticals Inc., Jazz Pharmaceuticals, and Nobelpharma Co., Ltd are key advanced cancer pain management market players.
Players develop novel delivery systems to enhance their market competitiveness.
1. Executive Summary | Advanced Cancer Pain Management Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 5.1. Monoclonal Antibody 5.2. Cannabinoid 5.3. Aminoindane 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Route of Administration 6.1. Intravenous 6.2. Oral 6.3. Inhalational 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hospital Pharmacies 7.2. Retail Pharmacies 7.3. Online Pharmacies 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. WEX Pharmaceuticals Inc 16.2. Jazz Pharmaceuticals 16.3. Nobelpharma Co., Ltd. 16.4. Tetra Bio-Pharma Inc. 16.5. Pfizer 16.6. Recipharm 16.7. Eurofins 16.8. Sigma-Aldrich 16.9. AstraZeneca 16.10. GlaxoSmithKline plc 17. Assumptions & Acronyms Used 18. Research Methodology
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Advanced Cancer Pain Management Market
