20-Jan-2022 | Facts and Factors
“Pain Management Therapeutics Market By Drug Class (Anesthetics, Anticonvulsant, NSAIDs, Anti-Migraine Drugs, Opioids, Antidepressant Drugs, Non-Narcotics, and Analgesics), By Indication (Cancer Pain, Arthritic Pain, Acute Appendicitis, Neuropathic Pain, Chronic Pain, Post-Operative Pain, Fibromyalgia, Migraine, Bone Fracture, Muscle Sprain/Strain, and Others), By Pain Type (Chronic Pain and Acute Pain), and By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2021–2026” states that the global demand for the pain management therapeutics market in 2020 was approximately USD 72,065.3 Million. The market is likely to grow at a CAGR of 4.8% and is anticipated to reach around USD 90,501.8 Million by 2026.
Pain is a disturbing sensory and emotional sensation, which results from tissue damage or disease. Additionally, various disorders can cause discomforts such as osteoarthritis, cancer, multiple sclerosis, stomach ulcer, diabetic neuropathy, fibromyalgia, and chronic arthritis. The length of pain ranges from acute pain intended for the short term to chronic pain intended for the long term. Chronic pain is caused because of aged bone & joint conditions, injury, or nerve damage. Different drugs are utilized to manage pain, which results from inflammation in response to tissue damage, chemical agents/pathogens, or nerve damage.
The global pain management therapeutics market is driven by major factors such as the rising rate of chronic diseases such as diabetic neuropathy, osteoarthritis, and cancer and the growing elderly population. Furthermore, several government initiatives to offer palliative care in low-income nations for efficient treatment of patients with debilitating cancer pain are growing the need for opioids as pain medication in such countries. Therefore, the rising adoption of opioids for neuropathic pain management is expected to augment the growth of the market. Additionally, the rise of surgical procedures along with the increase in healthcare expenses will boost the overall market in the future.
On the other hand, restraining factors like drug exploitation, the availability of alternatives like pain relief devices, and the patent expiration of prescription pain medication drugs might hinder the growth of the market during the forecast period.
The global pain management therapeutics market is classified into five major regional segments North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. North America is the leading market in the global pain management therapeutics market and is likely to remain dominant over the analysis period. The high growth in this regional market can be attributed to the rising number of geriatric population, the increasing adoption of neuropathic pain therapeutics for the treatment, and the favorable regulatory conditions.
The Asia-Pacific pain management therapeutics market is projected to observe the fastest growth rate during the estimated years. The increasing healthcare costs, the mounting awareness related to neuropathic pain management, and the presence of a large patient pool are responsible for the high market growth of the region.
Johnson & Johnson Services Inc., Allergen Inc., Pfizer Inc., Novartis AG, WEX Pharmaceuticals, Abbott Laboratories, Zynerba Pharmaceuticals, Endo Health Solutions Inc., Sanofi S.A, GlaxoSmithKline plc, Sorrento Therapeutics, Valeant Pharmaceuticals International Inc., Purdue Pharma L.P., Teva Pharmaceutical Industries Ltd, Bristol-Myers Squibb Company, Merck & Co. Inc., Boehringer Ingelheim, Baxter International Inc., Mylan NV, and Eli Lilly and Company are numerous market players covered in the global pain management therapeutics market. In addition, market players are mostly focusing on the development of drugs with the least side effects by collaborating with research and academic institutes.
Browse the full “Pain Management Therapeutics Market By Drug Class (Anesthetics, Anticonvulsant, NSAIDs, Anti-Migraine Drugs, Opioids, Antidepressant Drugs, Non-Narcotics, and Analgesics), By Indication (Cancer Pain, Arthritic Pain, Acute Appendicitis, Neuropathic Pain, Chronic Pain, Post-Operative Pain, Fibromyalgia, Migraine, Bone Fracture, Muscle Sprain/Strain, and Others), By Pain Type (Chronic Pain and Acute Pain), and By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/pain-management-therapeutics-market
This report segments the global pain management therapeutics market as follows:
Global Pain Management Therapeutics Market: By Drug Class
- Anesthetics
- Anticonvulsant
- NSAIDs
- Anti-Migraine Drugs
- Opioids
- Antidepressant Drugs
- Non-Narcotics
- Analgesics
Global Pain Management Therapeutics Market: By Indication
- Cancer Pain
- Arthritic Pain
- Acute Appendicitis
- Neuropathic Pain
- Chronic Pain
- Post-Operative Pain
- Fibromyalgia
- Migraine
- Bone Fracture
- Muscle Sprain/Strain
- Other Indications
Global Pain Management Therapeutics Market: By Pain Type
Global Pain Management Therapeutics Market: By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Pain Management Therapeutics Market: Regional Segmentation Analysis
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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