The number of patients undergoing surgical procedures has increased significantly in the last few years. A notable rise in people suffering from chronic diseases such as cancer is also being witnessed of late.
Patients who have undergone surgery require the administration of postoperative pain management drugs within 24 hours of the surgical procedure to reduce moderate to severe postoperative pain. This has led to a spur in demand for postoperative pain management drugs in the global market.
Further, there is a steadily growing awareness regarding palliative care among patients suffering from terminal illness. This is boosting the adoption of analgesics as effective postoperative pain management drugs.
A new report by Persistence Market Research traces the growth trajectory of the global postoperative pain management market for a period of eight years from 2018 to 2026. According to the revenue projections indicated in the report, the global market for postoperative pain management is likely to cross a whopping US$ 45 Bn in revenue by the end of 2026, up from an estimated valuation of around US$ 30 Bn in 2018.
This is reflective of a growth rate of 5.1% during the period 2018 – 2026. The report highlights the various market revenue push and pull factors as well as the trends impacting growth and performance of the global market for postoperative pain management during the aforesaid period of study.
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Manufacturers of Postoperative Pain Management Drugs Focused on Developing Formulations with Abuse-deterrent Properties
The opioid epidemic in the U.S has put extensive regulatory pressure on manufacturers of postoperative pain management drugs to develop opioids with abuse-deterrent properties. Several notable pharmaceutical companies are incorporating abuse-deterrent technologies to manufacture pain management drugs with novel formulations that are safe for consumption by patients without harmful side effects.
One of the innovations in the manufacturing of analgesics is the introduction of non-opioid drugs with extended-release of the medication to provide relief to patients from postoperative pain for a longer period of time. This is expected to result in significant revenue growth of the global postoperative pain management market in the coming years.
Key Trends Witnessed in the Postoperative Pain Management Market
Manufacturers of postoperative pain management drugs are entering into strategic collaborations and partnerships with pharmaceutical companies for developing non-opioid analgesics.
The main objectives of these collaborations are – to create an integrated approach towards pain management; to prevent the diversion of prescription opioid medications; and to prevent signs of opioid abuse and addiction. Growing adoption of opioid maintenance treatment (OMT) to treat opioid dependence (OD) is also being observed in the global market.
However, the use of OMT is debatable, as some studies claim OMT is also a form of addiction; yet, the use of OMT to treat OD is finding acceptance among the global healthcare fraternity.
Manufacturers of non-abuse opioids and analgesics are innovating their drug formulations and packaging formats to ensure that patients do not consume opioids in powder form.
In the recent past, the U.S FDA has approved certain new forms of non-abuse opioid drugs and manufacturers are leveraging this commercialization of non-abuse opioids, which reduce the risk of drug misuse, thereby finding widespread adoption among patients as effective pain management drugs.
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There has been a steady focus on palliative care in the case of terminally sick patients, especially in third world countries. Opioids are used in palliative care and the easy availability of reimbursement for these drugs is pushing the consumption of opioids at a global level.
The governments of certain developing countries are driving strategic initiatives for the provision of palliative care for patients seeking relief from pain post cancer surgery. This is anticipated to spur the demand for opioids as an effective medication for postoperative pain management.