A recent report published by Infinium Global Research on pain management therapeutics market provides an in-depth analysis of segments and sub-segments in the global as well as regional pain management therapeutics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional pain management therapeutics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global pain management therapeutics market. According to the report, the global pain management therapeutics market is projected to grow at a CAGR of 4.5% over the forecast period of 2018-2024.
Pain is a highly unpleasant physical sensation caused by damaged tissue or illness and injury. The duration of pain varies from short pain referred to as acute pain to the long term known as chronic pain. The various types of diseases such as stomach ulcer, osteoarthritis, fibromyalgia, chronic arthritis, diabetic neuropathy can cause pain. Pain management is the medical specialty, which is necessary for treating all types of pain including neuropathic, musculoskeletal, spinal disorder and many others. Accurate diagnosis, early intervention, and pain management therapies are helping to reduce the severity of pain. To achieve pain management goal among individuals use minimally invasive procedure and a particular set of drugs.
The number of patients suffering from chronic pain is on a continuous rise globally. Growing incidences of chronic diseases such as depression, nerve damage, and epilepsy and bone pain coupled with increasing geriatric population are major factors driving the growth of global pain management therapeutics market. Apart from this, growing awareness regarding pain management therapeutics, increasing economic stability globally and favorable regularity scenario in developed countries across the globe are some factors contributes to this market. Moreover, increasing incidences of accidental and sports injuries is escalating growth of the market. However, low adoption of pain management therapeutics in the emerging countries and side effect caused by certain pain management are key factors hampering the growth of pain management therapies market. Furthermore, ongoing research and development activities in the pain therapeutics creating growth opportunities for the growth of pain management therapeutics market in the coming years.
Among the region, North America holds maximum share in the pain management therapeutics market owing to the high consumption of pain management drugs by populations and availability of well-established healthcare infrastructures. Additionally, favorable reimbursement policies for the prescription based pain therapeutics drug is boosting the demand for the market. Europe is expected to be the second largest region in the pain management therapeutics market. On the other hand, Asia Pacific is registered to be the significant CAGR rate during the forecast period. Growing healthcare awareness among the people, rise in geriatric populations and expanding investment by the government for the healthcare infrastructures are factors responsible for the growth of this market in the Asia Pacific region.
The report on global pain management therapeutics market covers segments such as indication, therapeutics, and distribution channel. On the basis of indication, the sub-markets include chronic back pain, neuropathic pain, fibromyalgia, arthritic pain, cancer pain, post-operative pain, migraine, and others. On the basis of therapeutics, the sub-markets include anesthetics, antidepressants, anticonvulsants, non-steroidal anti-inflammatory drugs (NSAIDS), anti-migraine agents, opioids, non-narcotic analgesics, and others. On the basis of the distribution channel, the sub-markets include the online pharmacy, hospitals pharmacy, and retail pharmacy.
The report provides profiles of the companies in the market such as Abbott, Eli Lilly and Company, Pfizer Inc., Johnson & Johnson Services, Novartis AG, Merck & Co., Inc., AstraZeneca, Endo Pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd, and Mallinckrodt Pharmaceuticals company.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of pain management therapeutics market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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