Transparency Market Research (TMR) has published a new report
titled, ‘Pain Management Therapeutics Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the
global Pain Management Therapeutics market was valued at US$
66,558.6 Mn in 2018 and is projected to expand at a
CAGR of 3.7% from 2019 to 2027.
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Overview
·
Pain is
the result of potential tissue damage which leads to an unbearable sensory and
emotional experience. According to the International Association for the Study
of Pain (IASP), pain can be further categorized based on certain factors such
as region of the body involved, duration, intensity of pain and etiology.
·
The first
line of treatment in pain management usually involves the use of
pharmaceuticals from various therapeutic classes such as antidepressants,
opioids, NSAIDs, anticonvulsants, anesthetics and other non-narcotic
analgesics.
·
North
America dominated the global pain management therapeutics market in 2018 and
the trend is anticipated to continue during the forecast period. Highly
structured health care industry, advancement in health care facilities in
countries such as the U.S., and Canada, and availability of effective and
convenient treatment options are expected to drive the market in North America.
·
Asia
Pacific is likely to be a highly lucrative market for pain management therapeutics
and it is expected to expand at a high CAGR during the forecast period
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High Incidence of Chronic pain and Increase in
Number of Generic Products to Drive Market
·
High
incidence of chronic pain is likely to drive the market. High incidence of chronic
pain among adults drives demand for pain management therapeutics. According to
recent study, more than 1.5 billion people worldwide are
affected by chronic pain. Chronic pain is most prevalent in China, where over 35% of
people experience chronic pain, mainly headaches, chronic back pain, and
chronic lower back pain.
·
NSAIDs
and some other non-opioids such as paracetamol, codeine, ibuprofen, and Aspirin
(acetylsalicylic acid) are the most consumed drugs across the globe. According
to the FDA, nearly 8 in 10 prescriptions filled in the U.S. are for generic
drugs. The use of generic drugs is expected to increase in the next few years,
such factors are helps to fuel the growth of this market.
Opioids Segment to Dominate Market
·
Based on
therapeutics, the global pain management therapeutics market has been divided
into anticonvulsants, antidepressants, anesthetics, NSAIDS, opioids,
antimigraine agents and other non-narcotic analgesics. The opioids segment has
been bifurcated into oxycodones, hydrocodones, tramadol and others. The opioids
segment dominated the global pain management therapeutics market in 2018 and
the trend is projected to continue during the forecast period. Increasing
prescription of opioids drugs to accelerate the growth of the segment. In addition,
factors such as high awareness, favorable regulatory scenario, and health care
reforms are expected to boost the market during the forecast period.
·
Other
non-narcotic analgesics segment is expected to be the fastest growing segment
during the forecast period. Non-narcotic analgesics are the drugs which act on
peripheral nerve endings, although their antipyretic effect is mediated
centrally.
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Cancer Pain Management Therapeutics to be Highly
Lucrative Segment
·
In terms
of disease indication, the global pain management therapeutics market has been
classified into neuropathic pain, fibromyalgia, arthritic pain, chronic back
pain, migraine, post-operative pain, and cancer pain.
·
The
cancer pain segment dominated the pain management therapeutics market due to
increasing prevalence of cancer disease along with increasing patient
population, and growing awareness. According to report published by
International Association of Study of Pain it has been estimated that over 10
million individuals throughout the globe are diagnosed with cancer every year.
·
Other
chronic back pain segment is expected to be the fastest growing segment during
the forecast period. Increasing incidence of lower back problems among working
individuals and other chronic conditions is expected to assist the pain
management therapeutics market during the forecast period.
North America to Dominate Global Market
·
In terms
of region, the global pain management therapeutics market has been segmented
into North America, Europe, Asia Pacific, Latin America, and Middle East &
Africa. North America dominated the global pain management therapeutics market
in 2018, followed by Europe.
·
North
America accounted for major share of the global pain management therapeutics
market in 2018, owing to increase in patients with chronic pain,
new product launch, and presence of major players. According to WHO, in U.S.
nearly 50 Mn people suffering from chronic pain and which is
most common cause of long-term disability.
·
The pain
management therapeutics market in Asia Pacific is anticipated to expand at a
high CAGR from 2019 to 2027. This can be
attributed to rapid economic growth in developing economies such as India,
China, Indonesia, Vietnam, South Korea, and the Philippines. Availability of
generic pain management therapeutics at lower prices is fueling market growth.
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Competitive Landscape
·
The
global pain management therapeutics market is fragmented in terms of number of
players. Key players in the global market include 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., and other prominent players.
The global pain management therapeutics market has been segmented as
follows:
·
Global Pain Management Therapeutics Market, by Therapeutics
o
Anticonvulsants
o
Antidepressants
o
Anesthetics
o
NSAIDS
o
Opioids
§
Oxycodones
§
Hydrocodones
§
Tramadol
§
Others
o
Antimigraine
Agents
o
Other
Non-narcotic Analgesic
·
Global Pain Management Therapeutics Market, by Indication
o
Fibromyalgia
o
Arthritic
Pain
o
Chronic
Back Pain
o
Migraine
o
Post-Operative
Pain
o
Cancer
Pain
·
Global Pain Management Therapeutics Market, by Region
o
North
America
§
U.S.
§
Canada
o
Europe
§
Germany
§
U.K.
§
France
§
Italy
§
Spain
§
Rest of
Europe
o
Asia
Pacific
§
China
§
India
§
Japan
§
Australia
& New Zealand
§
Rest of
Asia Pacific
o
Latin
America
§
Brazil
§
Mexico
§
Rest of
Latin America
o
Middle
East & Africa
§
GCC
Countries
§
South
Africa
§
Rest of
Middle East & Africa
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