The global pain management therapeutics market for the historical period 2017–2018 and forecast period 2019–2027, high incidence of chronic pain disorders, easy and effective medications, and higher demand of pain management products are projected to drive the global pain management therapeutics market during the forecast period
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According to the report, the global pain management therapeutics market was valued at US$ 66.6 Bn in 2018 and is anticipated to expand at a CAGR of 3.7% from 2019 to 2027
Rise in Incidence of Chronic Pain Disorders to Promote Usage of Pain Management Therapeutics: Key Drivers
The number of patients suffering from chronic pain is on a constant rise globally. For instance, according to the World Health Organization (WHO), the U.S. had 50 million people suffering from chronic pain in 2018. Additionally, according to a European Pain Federation, around 80 Mn adults in Europe suffers from chronic pain.
The global increasing incidence rates of cancer further contribute to the rise in demand for pain management therapeutics. This includes pain occurring from cancer therapy as well as from incursion of cancer cells on to bones and other healthy body parts. WHO projections suggest that the global cancer prevalence will increase by around 75% from 2008 to 2030.
Hence, increase in incidence of chronic pain conditions continue to encourage the use of pain management drugs, thereby driving the market.
Easy & Effective Medications and Higher Demand of c Growth
Doctors usually prescribe medicines in the initial stages of pain, followed by other treatment options. Prescription drugs are easy and economical to use at individual level without any ambiguity.
Increased awareness about availability of medications for pain management propels consumption and acceptance of pain management drugs over other treatment options. Hence, high availability, easy access, high awareness, cost effectiveness, and quick relief have made pain management therapeutics more preferable to other treatment options.
According to National Prescription Audit (May 2019), pain treatment was the fourth largest therapy in the U.S., with about 447 million prescriptions after lipid regulators.
However, prescription volume for pain therapy decreased by 4.5% in 2018 as compared to 2017, due to continued implementation of control on volume of dispensing prescriptions for narcotic or opioid pain medicines, thereby reducing the misuse of drugs for non-medical use
Side Effects and Risk of drug abuse with opioids to Hamper Market
The common side effects experienced from long-term usage of pain therapeutics include constipation, drowsiness, and respiratory depression. Commonly used NSAIDs for pain management have high risk of gastrointestinal ulceration or bleeding. COX-2 inhibitors were developed to eliminate this risk; however, these led to other issues such as risk of heart attack and stroke due to prolonged use.
Prescription drug abuse poses a serious threat to the growth of the pain management therapeutics market due to its harmful long term effects. For instance as per National Institute Drug Abuse USA, more than 2 million people in the United States suffer from substance use disorders related to prescription opioid pain relievers.
Global Pain Management Therapeutics Market: Competitive Landscape
This report profiles major players in the global pain management therapeutics market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global pain management therapeutics market is highly fragmented, with the presence of a number of international as well as regional players
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Leading players operating in the global pain management therapeutics market are
- Pfizer Inc.
- Depomed, Inc.
- Endo International plc.
- Purdue Pharma L.P.
- Mallinckrodt Pharmaceuticals
- Teva Pharmaceutical Industries Ltd.
- Novartis AG
- AstraZeneca plc.
- Johnson & Johnson Services, Inc.
- Merck & Co., Inc.
- Abbott Laboratories
- GlaxoSmithKline plc.
Key Questions Answered in Global Pain Management Therapeutics Market Report
- What is the scope of growth of product companies in the global pain management therapeutics market?
- What will be the Y-o-Y growth of the global pain management therapeutics market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global pain management therapeutics market?
- Will North America continue to be the most profitable market for pain management therapeutics providers?
- Which factors are anticipated to hamper the growth of the global pain management therapeutics market during the forecast period?
- Which are the leading companies in the global pain management therapeutics market?
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Global Pain Management Therapeutics Market – Segmentation
- Antimigraine Agents
- Other Non-narcotic Analgesic
- Neuropathic Pain
- Arthritic Pain
- Chronic Back Pain
- Post-Operative Pain
- Cancer Pain
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Pain Management Therapeutics Market
4. Market Overview
4.1.1. Type Definition
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
4.4. Global Pain Management Therapeutics Market Analysis and Forecast, 2017–2027
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Chronic Pain Disease Epidemiology, by Region/Major Countries
5.2. Pipeline Analysis
5.3. Brand Analysis
5.4. Most Types of Body Pain Location Globally and Cut By Gender and Parents
5.5. Most Types of Head Pain Location Globally and Cut By Gender and Parents
6. Global Pain Management Therapeutics Market Analysis and Forecast, by Type
7. Global Pain Management Therapeutics Market Analysis, By Therapeutics
7.2. Global Pain Management Therapeutics Market Value Share and Attractiveness Analysis, by Therapeutics
7.3. Global Pain Management Therapeutics Market Forecast, by Therapeutics
7.3.6. Antimigraine Agents
7.3.7. Other Non-narcotic Analgesic
7.4. Global Pain Management Therapeutics Market Analysis, by Therapeutics
8. Global Pain Management Therapeutics Market Analysis, By Indication
8.2. Global Pain Management Therapeutics Market Value Share and Attractiveness Analysis, by Indication
8.3. Global Pain Management Therapeutics Market Forecast, by Indication
8.3.1. Neuropathic Pain
8.3.3. Arthritic Pain
8.3.4. Chronic Back Pain
8.3.6. Post-Operative Pain
8.3.7. Cancer Pain
8.4. Global Pain Management Therapeutics Market Analysis, by Indication
9. Global Pain Management Therapeutics Market Analysis and Forecast, by Region
9.1. Key Findings
9.2. Global Pain Management Therapeutics Market Value Forecast, by Region
9.2.1. North America
9.2.3. Asia Pacific
9.2.4. Latin America
9.2.5. Middle East & Africa
9.3. Global Pain Management Therapeutics Market Attractiveness, by Region
10. North America Pain Management Therapeutics Market Analysis
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