Healthcare

Pain Management Therapeutics Market By Current Industry Status, Growth Opportunities, Top Key Players, Target Audience And Forecast To 2030

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According to Precedence Research, the global Pain Management Therapeutics Market is estimated to be valued at US$ 69.54 million in 2020 and is expected to exhibit a CAGR of 4.3% over the forecast period 2021-2030

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Growth Factors:

Factors such as increasing geriatric population, rising number of accidents worldwide, growing prevalence of chronic disorders, rise in per-capita healthcare expenditure, increasing number of surgeries, constant approvals for new easy-to-use and effective medications, increasing cases of cancer in developing regions, and growing research and development expenditure are propelling the pain management therapeutics market expansion across the globe. Additional aspects that are estimated to fuel this industry are strong product pipeline of major manufacturers and technological innovations. A constant rise in the cases of chronic disorders throughout the world is pushing the business to grow at a rapid pace. Early detection of ailment raises the chances for a decreased mortality rate. According to the American Cancer Society, around 1.76 million new cancer cases were diagnosed in 2019 and more than 606,000 cancer deaths reported in the United States alone. The number of elderly persons is also on the rise globally. According to the World Health Organization, the geriatric population is projected to hit 1.5 billion by the year 2040, which will represent around 16% of the entire world population.

Growing investment in the research and development activities aimed at improving the efficiency of existing therapy options along with developing new treatments is driving the market globally. The short-term as well as long-term strategies of leading biotech and pharma companies play a vital role in determining market trends. Short term policies aim at tackling patenting concerns and display an immediate effect on the market. Whereas, long term policies focus on upgrading R&D, focused treatment approaches, and unified network representations.

Report Highlights:

  • Among the drug class segment, NSAIDs dominated the overall market in 2020. High efficiency and ease of availability are the major reason for high market share of NSAIDs in pain management therapeutics.
  • The neuropathic pain segment accounted for the largest revenue within the indication segment with more than 32% share in 2020. Factors such as large patient pool and technological innovations drive the growth of interventional study. Chronic back pain and cancer pain indications are projected to grow at significant rate in the forecast time-frame.
  • Retail pharmacy accounted for the largest revenue in the distribution channel segment. High use of over-the-counter drugs for pain management is the key reason for high market share of retail pharmacies.
  • Pfizer, Teva Pharmaceutical, and AstraZeneca accounted for a significant share of the global pain management therapeutics market.

Key Players

  • Teva Pharmaceutical
  • Pfizer
  • Abbott
  • Mallinckrodt Pharmaceuticals
  • Endo International
  • GlaxoSmithKline
  • AstraZeneca
  • Depomed
  • Merck
  • Novartis

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Overview of the Study

This market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume). This report also studies global market prominence, competitive landscape, market share, growth rate, market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Key Points of the Global Pain Management Therapeutics Market Report:

The report provides a basic overview of the Pain Management Therapeutics industry including its definition, applications, and manufacturing technology.

The report also explores the major international players in detail. In this part, the report presents the company profile, product specifications, capacity, and production value up to ‘2030 year’, along with the market shares for each company.

Through the statistical analysis, the study depicts the global market for Pain Management Therapeutics including capacity, production, production value, cost/profit, and supply/demand from an international perspective.

Considering segmentation, the market is divided in terms of product, end-use, company, region, and other important aspects. Each of these categories forms an important base point for the competitive landscape analysis.

The report then estimates the market development and trends of the Pain Management Therapeutics industry up to 2030.

The report hints at crucial information associated with new market developments being undertaken in the Pain Management Therapeutics industry before evaluating its feasibility.

Market Segmentation

By Drug Class

  • NSAIDs
  • Opioids
  • Anesthetics
  • Antidepressants
  • Anticonvulsants
  • Others

By Indication

  • Arthritic Pain
  • Neuropathic Pain
  • Chronic Back Pain
  • Post-Operative Pain
  • Cancer Pain
  • Others

By Distribution Channel

  • Online Pharmacy
  • Retail Pharmacy
  • Hospital Pharmacy

Reasons to Purchase this Report:

Estimates Pain Management Therapeutics development trends with SWOT analysis

Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players

Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion

Market dynamics scenario, along with growth opportunities for players in the years to come

Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period

Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects

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