A new study on the global pain management drugs market has been recently added to the vast repository of Report Ocean. The report, titled “Pain Management Drugs Market by Drug Class, (NSAIDS, Anesthetics, Anticonvulsant, Anti-Migraine Drugs, Antidepressant Drugs, Opioids, Non-Narcotics, and Analgesics), Indication (Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Pain, Post-Operative Pain, Migraine, Fibromyalgia, Bone Fracture, Muscle Sprain/Strain, Acute Appendicitis, and Other Indications), Pain Type (Chronic and Acute) : Global Opportunity Analysis and Industry Forecast, 2019–2027,” offers a detailed study of this market on the basis of its past and current performance.
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As per the study, the global pain management drugs market stood at US$71.43 bn in 2019. Registering a CAGR of 3.8% during the period from 2019 to 2027, the global market is projected to reach US$91.64 bn by the end of the forecast period. The significant increase in the geriatric population is the key driving force behind the growth of this market, as old people are more prone to arthritis, osteoporosis, joint issues, cardiovascular disorders, and various other chronic conditions that cause severe pain. According to the National Cancer Institute, nearly 20 to 50% of cancer patients suffer from pain. Almost 80% of patients with advanced stage cancer have to endure moderate to severe pain.
Going forward, a surge in occurrence of chronic disease among people across the world is likely to fuel the demand for pain management drugs in the years to come. Furthermore, the increasing number of surgical procedures and the rise in healthcare expenditure are also projected to boost the growth of this market over the forecast period. However patent expiration of prescription drugs, drug exploitation, and the easy availability of substitutes may act as restraints in the market’s growth trajectory in the near future.
Impact of Covid 19 on Global Pain Management Drugs Market
With focus completely shifted to the development of Covid 19 vaccines and treatments, other healthcare markets, including the global pain management drugs market, are on the sidelines at present. However, with the increasing demand for pain management drugs, the market is likely to regain its pace soon.
Global Pain Management Drugs Market: Business Market
The global pain management drugs market has been evaluated on the basis of the drug class, indication, and the region in this research study. On the basis of drug class, the market has been categorized into nonsteroidal anti-inflammatory drugs (NSAIDs), anesthetics, anticonvulsants, antimigraine agents, antidepressants, opioids, and nonnarcotic analgesics. The opioids segment has been leading the global market. On the basis of indication, the market has been divided into arthritic pain, neuropathic pain, cancer pain, chronic back pain, postoperative pain, migraine, fibromyalgia, bone fracture, muscle sprain, acute appendicitis and others. The postoperative pain segment is anticipated to report the fastest growth over the forecast period.
Based on pain type, the market has been segmented into chronic pain and acute pain. The chronic pain segment is likely to acquire the biggest market share between 2019 and 2027. By region, it has been analyzed across North America, Europe, Asia Pacific, and LAMEA. North America is expected to dominate the worldwide market during the period the forecast.
Key Findings:
The global pain management drugs market is segmented into:
By Drug Class
By Indication
By Pain type
By Region
North America
Europe
Asia Pacific
LAMEA
Companies Mentioned in the Report
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