Europe Cancer Pain Management Market Analysis

Europe Cancer Pain Management Market Executive Summary

Europe's Cancer Pain Management market is projected to grow from $1.24 Bn in 2022 to $1.7 Bn by 2030, registering a CAGR of 4.04% during the forecast period of 2022 - 2030. The aging population, the rising prevalence of chronic diseases, and the rising demand for high-quality healthcare services have all contributed to a growth in healthcare spending in the Europe area during the past few years. The WHO reports that healthcare spending as a percentage of GDP varies greatly among European nations. Healthcare spending as a proportion of GDP is quite high in a number of nations, including the UK, Germany, France, Italy, and Spain.

Cancer itself or treatments like surgery and chemotherapy that are used in conjunction with it can both result in discomfort from the disease. The selection and usage of medications are influenced by the kind, location, and intensity of pain experienced. A number of medications are used to relieve the pain brought on by cancer. It is advised to utilize potent opioids rather than non-opioids like acetaminophen and NSAIDs in cases of severe pain while treating mild to moderate cancer pain, for instance. Europe is a recognized player in the global market for the treatment of cancer pain, and it is also home to some of the leading pharmaceutical firms that are actively engaged in the creation of novel analgesics.

Market Dynamics

Market Growth Drivers

Cancer is becoming more common in Europe, which has increased the demand for cancer pain relief therapies. WHO has predicted that by 2030, there will be an increase in new instances of cancer in Europe of about 60%. The market for cancer pain management is expanding as a result of Europe's aging population because older people are more likely to get cancer and feel pain as a result of their disease. Moreover, policies have been implemented by the EU and individual European nations to increase access to cancer pain management therapies. These policies include funding for research and development of new therapies and the promotion of interdisciplinary pain management teams, which will fuel market expansion in the region.

Market Restraints

Limiting constraints for cancer pain management in Europe include a lack of understanding among patients and medical professionals, negative side effects of pain management medications, and regulatory issues. Additionally, the assessment and management of cancer pain are not standardized, which can result in variations in the standard of care given to patients.

Competitive Landscape

Key Players

• Napp Pharmaceuticals
• Grunenthal Pharma
• Hisamitsu Pharmaceutical
• Sanofi
• Teva Pharmaceuticals
• Abbott
• Pfizer

Notable Recent Deals

December 2022: Sanofi and Innate Pharma announced the growth of their collaboration, with Sanofi acquiring a license for an NK cell engager program from Innate's ANKETTM (Antibody-based NK Cell Engager Therapeutics) technology that targets B7H3. Sanofi will also have the option of adding up to two more ANKETTM targets. Following candidate selection, Sanofi will be in charge of all development, manufacturing, and marketing.

Healthcare Policies and Regulatory Landscape

The approval and reimbursement of cancer pain management medicines are governed by a number of rules and regulations that have been created in Europe. The regulation of pharmaceuticals, particularly those employed in the treatment of cancer pain, is the responsibility of the European Medicines Agency (EMA). Prior to approving their commercialization, the EMA assesses the products' efficacy and safety. In addition, Europe has put in place a number of healthcare measures designed to increase cancer patients' access to efficient pain management therapies such as the European Pain Federation Cancer Pain policy. The formulation of standards for the management of cancer pain, the encouragement of interdisciplinary pain management teams, and the provision of financial incentives for the creation of novel pain management therapies are a few of these policies.

Reimbursement Scenario

Different European nations have different reimbursement procedures for cancer pain management therapies. The extent of coverage for cancer pain management treatments is determined by each nation's national healthcare system and rules. The cost of cancer pain management treatments is partially or entirely covered by particular reimbursement schemes in some nations. In some nations, the standard reimbursement policy for pharmaceutical products includes payment for cancer pain management therapy.

French reimbursement policies for pain management therapy are primarily influenced by the National Health Insurance System (NHIS). The French National Agency for Safety of Medicines and Health Products (ANSM), in collaboration with the French National Authority for Health (HAS), establishes reimbursement rates for pain treatment procedures. The National Health Service (NHS), with its financing and reimbursement policies for medical procedures and treatments, controls the reimbursement landscape for the UK market for pain management. While in Germany, the reimbursement scenario for pain management is determined by the Federal Joint Committee (G-BA), which is in charge of evaluating and determining the level of reimbursement for medical procedures and treatments.