Cancer Pain Market to Reach $10.32 Billion, Globally, by 2032 at 5.3% CAGR

PORTLAND, IN, UNITED STATES, December 3, 2024 /EINPresswire.com/ -- Cancer pain can be due to the disease condition itself or may be due to the associated treatments such as surgeries, chemotherapy, and other therapies or when A tumor that presses on bones, nerves, or organs can cause pain. It can be acute or chronic. Acute pain is owing to damage caused by a physical injury and tends to last a short time. The chronic pain can be owing to changes to the nerves. This pain is also known as persistent pain. Most chronic pain is caused by the illness and most acute pain is caused by the treatment or diagnostic procedures. The radiotherapy and chemotherapy may produce painful conditions that persist long after treatment has ended. The presence of pain depends mainly on the location of cancer and the stage of the disease. At any given time with malignant cancer smacks pain A lot of treatments are available for cancer pain. These include opioids, non-opioids, and nerve blockers.

According to the report published by Allied Market Research, the global Cancer Pain Market generated $6.19 billion in 2020, and is projected to garner $10.32 billion by 2030, witnessing a CAGR of 5.3% from 2021 to 2030.

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Increase in incidence of cancer across the globe and surge in healthcare expenditure drive the growth of the global cancer pain market. However, fatal effects associated with the use of drugs employed in cancer pain management hinder the market growth. On the other hand, surge in number of pipeline drugs and untapped potential in emerging economies present new opportunities in the coming years.

Rise in the demand for the drugs, surge in prevalence of cancer across the globe, increase in number of R&D activities to develop ideal cancer pain medications fuels growth of the cancer pain market.

By drug type segment, the global cancer pain market is categorized into opioids, non-opioids, and nerve blockers. The opioids segment was the major revenue contributor in 2020, and is anticipated to remain dominant during the forecast period due to increase in the adoption of opioids owing to rise in number of moderate to severe stage cancer patient population.

North America accounted for 5.0% global market share in 2020, and is expected to remain dominant throughout the forecast period. This was attributed to the increase in demand for cancer pain therapeutics, high prevalence of cancer, wide availability of cancer pain drugs and trained medical professionals, and supportive reimbursement policies in the healthcare system. Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to surge in incidence of cancer, with increase in adoption of cancer pain drugs for the treatment of cancer

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Based on disease indication, the lung cancer segment held the largest share in 2020, accounting for more than one-fifth of the global cancer pain market, and is estimated to maintain its dominance during the forecast period. However, the breast cancer segment is projected to manifest the fastest CAGR of 6.1% from 2021 to 2030.

Based on region, North America contributed to the highest share in 2020, holding more than two-fifths of the total share, and is estimated to continue its leadership status in terms of revenue by 2030. However, Asia-Pacific is expected to portray the fastest CAGR of 6.0% during the forecast period.

Leading players of the global cancer pain market analyzed in the research include Aoxing Pharmaceutical Company, Inc., CK Life Sciences (WEX Pharmaceuticals), BioDelivery Sciences International, Inc., Grünenthal Pharma GmbH & Co. KCG, Daiichi Sankyo Co., Ltd., Mundipharma International Limited, Hisamitsu Pharmaceutical Co., Inc., Pfizer Inc., Orexo AB, and Teva Pharmaceutical Industries Limited.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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