16-Mar-2021 | Zion Market Research
Pain relieving drugs such as opioids help in providing relief to patients from severe pain and are used in medical treatment of arthritis, metastatic cancer, and neuropathy. However, it is of short-term use for relieving pain after surgery or treating terminal cancer if the key requirement is to relieve the patient from painful suffering. Apparently, treating of chronic pain has formed a base of healthcare services and it has become a major component of pain management therapeutics business. Reportedly, there are many of the non-opioid pharmacotherapies that are helpful in treating of chronic non-malignant pain. Citing an instance, non-steroidal anti-inflammatory drugs such as ibuprofen, aspirin, and acetaminophen are preferred for treating mild to acute chronic pain. Additionally, non-steroidal anti-inflammatory medicines can effectively treat muscuskeletal pain such as osteoarthritis and back pain. NSAIDs like naproxen has received FDA approval for treating pain related to ankylosing spondylitis. Hence NSAIDs has also contributed majorly towards influencing of the pain management therapeutics market growth in the past few years. According to Zion Market Research Report, the pain management therapeutics industry garnering revenue worth US$ 65.6 Billion in 2019 and slated to produce earnings about US$ 81.9 billion by 2026 will record a CAGR of nearly 4% during 2020 to 2026.
Surge In Cancer Cases Will Prompt Pain Management Therapeutics Industry Growth By 2026
The rise in the cases of cancer along with access to various therapies for treating cancer pain will proliferate the growth of pain management therapeutics market in the years ahead. Moreover, non-opioid as well as opioid medicines can be used to treat neuropathic pain caused while treating cancer. Apparently, growing awareness pertaining to cancer pain treatments will further boost the industry growth over the years to come.
North American Market To Witness Geometric Growth By 2026
The expansion of pain management therapeutics industry space in North American sub-continent can be credited to presence of robust healthcare sector in the countries such as the U.S. and Canada. Apart from this, advanced healthcare amenities in these countries will further contribute towards the regional market growth over the years ahead. In addition to this, approval of generic medicines by U.S. FDA for treating chronic pain will further boost the regional market trends.
Key players profiled in the study include Novartis AG, Purdue Pharma L.P., AstraZeneca Plc., Mallinckrodt Pharmaceuticals, GlaxoSmithKline Plc., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Depomed, Inc., Johnson & Johnson Services, Inc., Endo International Plc., Merck & Co., Inc., and Abbott Laboratories.
Browse the full “Pain Management Therapeutics Market - By Drug Class (Anesthetics, NSAIDS, Anticonvulsants, Antidepressants, Anti-Migraine Agents, Non-Narcotic Analgesics, And Opioids (Tramadol, Oxycodone, Hydrocodone, And Others)), By Indication (Neuropathic Pain, Arthritic Pain, Cancer Pain, Post-Operative Pain, Chronic Back Pain, Fibromyalgia, And Migraine), And By Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, And Online Pharmacy): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017 – 2024.” Report at https://www.zionmarketresearch.com/report/pain-management-therapeutics-market
This report segments the global pain management therapeutics market as follows:
Global Pain Management Therapeutics Market: Drug Class Segment Analysis
Global Pain Management Therapeutics Market: Indication Segment Analysis
Global Pain Management Therapeutics Market: Distribution Channel Segment Analysis
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