Pain Management Drugs Market 2030
Pain Management Drugs Market 2030
Pain Management Drugs Market size was estimated at USD 71.43 billion in 2019, and is anticipated to hit USD 91.64 billion by 2027, registering a CAGR of 3.8%
WILMINGTON, DELAWARE, UNITED STATES, April 16, 2024 /EINPresswire.com/ -- According to the report, the global Pain Management Drugs Market size was estimated at USD 71.43 billion in 2019, and is anticipated to hit USD 91.64 billion by 2027, registering a CAGR of 3.8% from 2020 to 2027.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/request-for-customization/404?reqfor=covid
๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ, ๐ซ๐๐ฌ๐ญ๐ซ๐๐ข๐ง๐ญ๐ฌ, ๐๐ง๐ ๐จ๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ-
Increase in prevalence of chronic diseases, favorable regulatory scenario, and surge in the number of geriatric population drive the growth of the global pain management drugs market. On the other hand, availability of alternative therapies, drug exploitation, and patent expiration of prescribed drugs impede the growth to some extent. However, advancements in drug development and untapped markets in developing economies are expected to create lucrative opportunities for the market players in the industry.
๐๐จ๐ฏ๐ข๐-๐๐ ๐ฌ๐๐๐ง๐๐ซ๐ข๐จ-
Several clinics offering pain management services were no longer open for public services during the first phase of the lockdown, owing the safety measures imposed by government bodies across the world.
Most of the chronic pain facilities were deemed non-urgent and elective interventional procedures were restricted to lessen risk of the viral spread.
In such a scenario, the demand for pain management drugs happened to increase and telemedicines became an effective way to offer necessary medical services to patients with chronic pain.
๐๐ก๐ ๐จ๐ฉ๐ข๐จ๐ข๐๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐๐จ๐ฆ๐ข๐ง๐๐ญ๐ ๐๐ฒ ๐๐๐๐-
Based on drug class, the opioids segment accounted for more than one-fourth of the global pain management drugs market share in 2019 and is expected to rule the roost by the end of 2027. High popularity of these drugs worldwide fuels the segment growth. The anti-migraine agents segment, on the other hand, would register the fastest CAGR of 4.7% throughout the forecast period.
๐ ๐จ๐ซ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐ญ: https://www.alliedmarketresearch.com/purchase-enquiry/404
๐๐ก๐ ๐ง๐๐ฎ๐ซ๐จ๐ฉ๐๐ญ๐ก๐ข๐ ๐ฉ๐๐ข๐ง ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ญ๐ก๐ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐ฌ๐ก๐๐ซ๐-
Based on indication, the neuropathic pain segment contributed to nearly one-fifth of the global pain management drugs market revenue in 2019 and is anticipated to lead the trail by 2027. As per statistics by the International Association for the Study of Pain, almost 35% of the 33 million people with HIV globally suffer from neuropathic pain, thereby driving the segment growth. Presence of large patient population is the major factor that increases the demand for drugs for neuropathic pain. The cancer pain segment would manifest the fastest CAGR of 4.8% from 2020 to 2027.
๐๐ก๐ ๐๐ก๐ซ๐จ๐ง๐ข๐ ๐ฉ๐๐ข๐ง ๐ ๐๐ซ๐ง๐๐ซ๐๐ ๐ญ๐ก๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ฌ๐ก๐๐ซ๐ ๐ข๐ง ๐๐๐๐-
Based on pain type, the chronic pain segment held the highest share in 2019, generating 92% of the global pain management drugs market. The same segment would also register the fastest CAGR of 3.9% till 2027, owing to high popularity of these pain management drugs worldwide.
๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐ ๐ญ๐จ ๐ซ๐ฎ๐ฅ๐ ๐ญ๐ก๐ ๐ซ๐จ๐จ๐ฌ๐ญ-
Based on geography, North America held the major market share in 2019, generating nearly half of the global pain management drugs market, owing to large number of aging population and favorable regulatory conditions. Asia-Pacific, on the other hand, would portray the fastest CAGR of 4.5% till 2027. This is attributed to presence of larger patient pool and increase in healthcare expenditure in the region
๐๐ฒ ๐๐๐ ๐ข๐จ๐ง ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐
(U.S., Canada, Mexico)
๐๐ฎ๐ซ๐จ๐ฉ๐
(Germany, France, UK, Italy, Spain, Rest of Europe)
๐๐ฌ๐ข๐-๐๐๐๐ข๐๐ข๐
(Japan, China, India, Rest of Asia-Pacific)
๐๐๐๐๐
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
๐๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ-
Eli Lilly & Company
Johnson & Johnson
Novartis AG
Endo Health Solutions, Inc.
Purdue Pharma L.P., Inc.
Mylan NV.
Merck & Co. Inc.
Pfizer
Abbott Laboratories
GlaxoSmithKline Plc.
๐๐๐จ๐ฎ๐ญ ๐๐ฌ :
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