Pain Management Therapeutics Market Size, Share, Growth, Trends, Consumption, Production, Revenue and Forecast 2020 - 2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

The global Pain Management Therapeutics market size is expected to hit around US$ 92,16 billion by 2027 and nticipated to expand at a CAGR of 3.9% from 2020 to 2027.

The 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.

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

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.

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.

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.

Market Segmentation:

By Therapeutics

    • Anticonvulsants
    • Antidepressants
    • Anesthetics
    • NSAIDS
    • Opioids
      • Oxycodones
      • Hydrocodones
      • Tramadol
      • Others
    • Antimigraine Agents
    • Other Non-narcotic Analgesic

By Indication

    • Fibromyalgia
    • Arthritic Pain
    • Chronic Back Pain
    • Migraine
    • Post-Operative Pain
    • Cancer Pain

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

A new study on the global pain management therapeutics market has been published by Vision Research Reports. It presents a wealth of information on key market dynamics, including the drivers, market trends, and challenges, as well as the structure of the global pain management therapeutics market. The study offers valuable information about the global pain management therapeutics market to illustrate how the market would grow during the forecast period 2020-2027. The report provides the value and volume of the global pain management therapeutics market for the period 2020–2027, considering 2020 as the base year and 2027 as the forecast year. The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study.

Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in the study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global pain management therapeutics market during the forecast period.

An extensive analysis on business strategies of leading market players is also featured in study on the global pain management therapeutics market. This can help readers understand principal factors to foresee growth in the global pain management therapeutics market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global market, which is expected to guide market players in making apt decisions in the future.

The report also delves into the competition landscape of the global pain management therapeutics market. Key players operating in the global market have been identified, and each one of these has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global market report.

Key Questions Answered in Pain management therapeutics Market Study

- What are the key factors influencing the pain management therapeutics market in each region?

- What will be the CAGR of the global pain management therapeutics market between 2016 and 2027?

- What is the future scope and changing trends in technologies in the global pain management therapeutics market?

- Which factors will impede 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?

- Which region is set to expand at the fastest CAGR during the forecast period?

- What is the volume (Units) of different pain management therapeutics across all regions during the forecast period?

- Which segment will have the highest revenue globally in 2027 and which segment will expand at the fastest CAGR during the forecast period?

Research Methodology

A unique research methodology has been utilized by Vision Research Reports to conduct a comprehensive research on the growth of the global pain management therapeutics market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the production of the global pain management therapeutics market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.

These primary and secondary sources provided exclusive information during interviews, which serves as a validation from pain management therapeutics industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making Vision Research Reports estimates on the future prospects of the global market more reliable and accurate.


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