US Cancer Pain Management Market Analysis

US Cancer Pain Management Market Analysis


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The US cancer pain management market is projected to grow from $2.74 Bn in 2022 to $3.55 Bn by 2030, registering a CAGR of 3.33% during the forecast period of 2022-30. The main factors driving the growth would be increasing cancer incidence, the launch of new and advanced pain management drugs, government initiatives, and the growing need for non-invasive and minimally invasive pain management methods. The market is segmented by drug type and by disease. Some of the major players include Collegium Pharmaceutical (USA), Pfizer (USA), Abbott (USA), Sorrento Therapeutics (USA), Galena Biopharma (USA), Hisamitsu Pharmaceutical, Aoxing Pharmaceutical, Orexo, and Teva Pharmaceuticals.

ID: IN10USHS002 CATEGORY: Healthcare Services GEOGRAPHY: US AUTHOR: Neha Davda

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US Cancer Pain Management Market Executive Summary

The US cancer pain management market is projected to grow from $2.74 Bn in 2022 to $3.55 Bn by 2030, registering a CAGR of 3.33% during the forecast period of 2022-30. US national healthcare spending as a share of GDP in 2021 was 18.3% or $12,914 per person. In terms of both public and private healthcare spending, the US spends the most on healthcare compared to GDP among all developed nations.

Cancer pain may be caused by the actual condition of the disease or by treatments like chemotherapy and surgery that are linked to it. The selection of drugs and their use is influenced by the kind, location, and intensity of pain felt. For the treatment of cancer pain, many different medications are employed. For instance, strong opioids are chosen when treating severe pain, but acetaminophen and NSAIDs, which are non-opioids, are preferred for treating mild to moderate cancer pain. North America accounts for a major share of the global cancer pain management market and the US is the largest market for cancer pain management in North America.

us cancer pain management market analysis

Market Dynamics

Market Growth Drivers

The US cancer pain management market is expected to be driven by factors such as increasing cancer incidence, the launch of new and advanced pain management drugs, and the growing need for non-invasive and minimally invasive pain management methods. Moreover, the US government has started a number of initiatives to improve cancer care, including funding novel cancer treatments and cancer research. These activities are anticipated to fuel the expansion of the US market for cancer pain management.

Market Restraints

Some pain management drugs have adverse effects such as nausea, vertigo, urine retention, sleep problems, and constipation, which can limit their use and have an effect on the expansion of the cancer pain management market. Further, the US Food and Drug Administration (FDA) maintains stringent guidelines for new drug approval, which can delay the research and introduction of new cancer pain management treatments.

Competitive Landscape

Key Players

  • Collegium Pharmaceutical (USA)
  • Pfizer (USA)
  • Abbott (USA)
  • Sorrento Therapeutics (USA)
  • Galena Biopharma (USA)
  • Hisamitsu Pharmaceutical
  • Aoxing Pharmaceutical
  • Orexo
  • Teva Pharmaceuticals

Notable Recent Deals

March 2022: Collegium Pharmaceutical acquired BioDelivery Sciences International (BDSI) to create a leading, diversified specialty pharmaceutical firm dedicated to enhancing the lives of patients with significant medical conditions. The acquisition was set up as a cash tender offer to buy all of the outstanding shares of BDSI for $5.60 each.

June 2021: Sorrento Therapeutics acquired ACEA Therapeutics. With this acquisition, other NCE therapeutic product candidates will be added, including the previously licensed anchoring small molecule medication Abivertinib, which is used to treat a variety of cancers and autoimmune diseases.

Healthcare Policies and Regulatory Landscape

The US Food and Drug Administration is largely in charge of regulating the healthcare system and the regulatory environment for the US pain management sector (FDA). Both prescription and over-the-counter (OTC) pain management medications are subject to FDA regulation regarding their development, approval, and marketing in the US. For medications used to treat pain, the FDA establishes guidelines for their quality, safety, and efficacy. The Controlled Substances Act (CSA) divides pain management drugs into schedules according to their potential for misuse and recognized medicinal uses, with Schedule I substances having the highest potential for abuse and no accepted medical uses. The availability, prescription, and distribution of medications for pain management are impacted by this classification.

To address the opioid epidemic, the Comprehensive Addiction and Recovery Act (CARA) aims to improve Prescription Drug Monitoring Programs (PDMPs) and expand access to overdose prevention and addiction treatment services. This has an effect on the availability and prescription of opioid-based medications.

Reimbursement Scenario

The reimbursement scenario for the pain management market in the US is influenced by factors such as the type of pain management treatment, the payer, and the patient's insurance coverage. Medicare- a government health insurance program for seniors 65 and older and Medicaid-a joint federal-state program for low-income individuals, provides coverage for a variety of pain management therapies including prescription medications, medical procedures, and hospital care. Private insurance companies frequently reimburse for a variety of pain management therapies, such as prescription medications, surgical procedures, and physical therapy but the individual's plan determines the precise coverage. Some pain management procedures might not be reimbursed by insurance, and patients might have to pay out of pocket. This can include some procedures as well as complementary therapies like acupuncture and chiropractic treatment.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

US Cancer Pain Management Market Segmentation

By Drug Type (Revenue, USD Billion):

Non-steroidal anti-inflammatory medicines relieve pain at the site of injury by blocking the cyclooxygenase enzyme, which prevents prostaglandin formation. NSAIDs are a class of medications that includes medications with analgesic, antipyretic, and, at higher doses, anti-inflammatory properties.

  • Opioids
  • Morphine
    • Fentanyl
    • Others
  • Non-Opioids
  • Acetaminophen
  • Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
  • Nerve Blockers

By Disease Indication (Revenue, USD Billion):

Based on disease Indication the market is segmented into:

  • Lung Cancer
  • Colorectal cancer
  • Breast cancer
  • Prostate cancer
  • Blood cancer
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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  • Segmentation and regional revenue forecasts
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Last updated on: 12 July 2023
Updated by: Jay Dalwadi

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