Pain Management Drugs Market to Reach $85.54 Bn, Globally, by 2027 at 3.9% CAGR: Allied Market Research

- Increase in incidences of chronic diseases, favorable regulatory scenarios, and rise in geriatric populations drive the growth of the global Pain management drugs market.

PORTLAND, Ore., Sept. 23, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Pain management drugs Market by Drug Class, (NSAIDS, Anesthetics, Anticonvulsant, Anti-Migraine Drug, Antidepressant Drugs, Opioids, and Non-Narcotic Analgesics) and Indication (Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Pain, Post-Operative Pain, Migraine, and Fibromyalgia): Global Opportunity Analysis and Industry Forecast, 2019–2027." According to the report, the global Pain management drugs industry garnered $65.96 billion in 2019, and is estimated to reach $85.54 billion by 2027, witnessing a CAGR of 3.9% from 2020 to 2027.

Download Detailed COVID-19 Impact Sample Report at: https://www.alliedmarketresearch.com/request-for-customization/404?reqfor=covid

Drivers, restraints, and opportunities

Increase in incidences of chronic diseases, favorable regulatory scenarios, and rise in geriatric populations drive the growth of the global Pain management drugs market. However, availability of alternative therapies, drug exploitation, and patent expiration of prescription drugs hinder the market growth. On the other hand, advancement in drug development and untapped markets in developing economies create new opportunities in the coming years.

Covid-19 Scenario

• The covid-19 outbreak has impacted the healthcare systems all across the world. Most of the clinics and pain services have been closed for public services, due to the safety measures imposed by governments.
• Consequently, most chronic pain facilities were considered non-urgent. In addition both outpatient and elective interventional procedures were stopped during the COVID-19 pandemic to curb the spread.

The opioids segment to maintain its lead position during the forecast period

Based on drug class, the opioids segment accounted for the largest share in 2019, holding for more than one-fourth of the global pain management drugs market, and is expected to maintain its lead position during the forecast period. This is owing to high efficiency of opioids to relieve pain in major chronic conditions. However, the anti-migraine agents segment is estimated to portray the highest CAGR of 4.8% from 2020 to 2027. Rise in number of people suffering from migraine and other headache conditions is the major factor driving the growth of the segment.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/404

The neuropathic pain segment to maintain its dominant share during the forecast period

Based on indication, the neuropathic pain segment accounted for around one-fifth of the global pain management drugs market in 2019, and is projected to maintain its dominant share during the forecast period. This is attributed to increase in presence of large patient population. However, the cancer pain segment is estimated to grow at the highest CAGR of 4.8% from 2020 to 2027. This is due to rise in number of cancer patients.

North America to maintain its leadership status by 2027

Based on region, North America held the highest market share of nearly half of the global Pain management drugs market in 2019, and is estimated to maintain its leadership status by 2027. On the other hand, Asia-Pacific is expected to portray the highest CAGR of 4.5% from 2020 to 2027. This was attributed to large number of aging population and favorable regulatory conditions.

Leading market players

• Novartis AG
• Eli Lilly & Company
• Abbott Laboratories
• Endo Health Solutions, Inc.
• Purdue Pharma L.P.
• Pfizer, Inc.
• Mylan NV.
• Merck & Co. Inc.
• Johnson & Johnson
• GlaxoSmithKline Plc.

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Organ-on-Chip Market - Global Opportunity Analysis and Industry Forecast, 2020–2027

U.S. Advanced Wound Care Market - Global Opportunity Analysis and Industry Forecast, 2019-2026

Surrogacy Market - Global Opportunity Analysis and Industry Forecast, 2019-2026

Butterfly Needle Sets Market - Global Opportunity Analysis and Industry Forecast, 2019–2026

Neutropenia Market Global Opportunity Analysis and Industry Forecast, 2019–2026

Pharmaceutical Drug Delivery Market Global Opportunity Analysis and Industry Forecast, 2019–2026

Disposable Syringes Market Global Opportunity Analysis and Industry Forecast, 2019–2026

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg