Qualitative analyzes of the Pain Management Drugs Market on applications and prospects by size, share and future growth
Pain Management Drugs Market by Drug Class, Indication and Pain Type Opportunity Analysis and Industry Forecast, 2019-2027.
PORTLAND, OREGON, USA, July 19, 2022 /EINPresswire.com/ — Pain medication market was valued at $71,431.85 million in 2019 and is expected to reach $91,649.16 million by 2027, registering a CAGR of 3.8% from 2020 to 2027 Pain is a complex medical condition, which affects not only the physical but also the mental well-being of an individual. It is caused by trauma or tissue damage and its intensity varies from person to person. Analgesics help relieve pain through various pathways in the patient’s body. There are different types of drugs available in the pain management drug market targeting specific biomolecules in the body and manipulating specific mechanisms to avoid pain sensation. Depending on the cause of the pain, the treatment provided can be simple or complex. Pain can be managed using various pharmacological and non-pharmacological therapies.
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
ELI LILY AND COMPANY
ENDO HEALTH SOLUTIONS, INC. (ENDO INTERNATIONAL PLC.)
GLAXOSMITHKLINE PLC (GSK)
JOHNSON & JOHNSON
MERCK & CO., INC.
NOVARTIS INTERNATIONAL AG
PURDUE PHARMA LP
According to industry experts, the long-term effect of the COVID-19 outbreak is expected to be felt over the next few years. This pandemic has disrupted the growth of many economies in various areas. The COVID-19 outbreak will impact the pain medication market in the initial phase of the forecast period. The COVID-19 pandemic has strained healthcare systems around the world, such that many pain clinics and services are no longer open to public services for safety reasons. Moreover, throughout the second half of the forecast period, the demand for pain medications is expected to increase. Thanks to factors such as telemedicine, doctors are able to provide advice to patients for physical exercises at home to relieve pain. This is expected to increase the market growth in the near future.
The availability of sophisticated treatment options and advancements in technology have increased life expectancy rates around the world, resulting in an increase in the geriatric population. As the elderly are very prone to pain, for various reasons such as the increased incidence and prevalence of chronic diseases such as heart disease, stroke, type II diabetes and cancer, which are driving the growth of the pain medication market. According to statistics provided by the United Nations Population Division, in 2019 the total proportion of people over the age of 65 increased from 703 million in 2019 and is expected to reach 1.5 billion by 2050, globally. Additionally, increasing investment in R&D and increase in pharmaceutical outsourcing is expected to fuel the market growth in developing regions such as Asia-Pacific and LAMEA. However, the availability of alternative therapies and the expiration of prescription drug patents for the treatment of pain are hampering the growth of the pain management drugs market.
The opioids segment was the major contributor to the market growth in 2019, the opioids segment is the major contributor to the market growth, due to the high popularity of these drugs in the world. However, the anesthetics segment is expected to be the fastest growing segment of the market, owing to the frequent use of this type of drug during surgeries and the increasing number of surgeries globally.
The neuropathic pain segment accounted for the majority of the pain management drugs market share in 2019 and is expected to exhibit significant growth rate during the forecast period, increasing the presence of a large population number of patients is the main factor increasing the demand for drugs for neuropathic pain. Cancer pain and chronic back pain was the segment expected to grow at the highest rate throughout the forecast period in 2019, due to the increase in the number of surgeries globally and the increase in the prevalence of chronic diseases that lead to back pain.
Based on pain type, the chronic pain segment was the major contributor to market growth in 2019 and is expected to grow at a CAGR of 3.9% during the forecast period.
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
• By drug type, the opioid segment occupied 26.5% of the pain medication market in 2019.
• By indication, the postoperative pain segment is expected to grow with the highest CAGR throughout the forecast period.
• By type of pain, the chronic pain segment accounted for the largest share
• By region, North America is expected to grow by 3.6% over the forecast period.
𝐖𝐞 𝐚𝐥𝐬𝐨 𝐎𝐟𝐟𝐞𝐫𝐬 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐂𝐨𝐮𝐧𝐭𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭𝐬-
North America Pain Management Drugs Market
Japan pain management drugs market
South Korea Pain Management Drugs Market
Singapore Pain Management Drugs Market
Australia Pain Management Drugs Market
European pain management drugs market
𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬
Oral Proteins and Peptides Market
Cognition and Memory Enhancing Drugs Market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐥𝐥𝐢𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 :
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