Pain Management Therapeutics Market surpassed US$ 75 billion in 2021, owing to Increasing cases of cancer in developing regions | insightSLICE
The global Pain Management Therapeutics market size was estimated to be US$ 75 billion in 2021 and is expected grow at a CAGR of 4.5% between 2023 to 2032.
The prevalence of cancer, the increase in surgeries, and rising investment in the discovery of novel pain medications are all contributing to the huge growth of the pain management therapeutics market. Around the world, chronic pain and high-impact chronic pain are becoming more common.
In accordance with the Centers for Disease Control and Prevention, over 20% of American adults in 2016 experienced chronic pain, while roughly 8% of American adults experienced high-impact chronic pain.
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The need for pain management therapies has been greatly spurred by the incidence of cancer and is anticipated to increase dramatically in the next years. Cancer therapy is very unpleasant, and medications for pain control are needed at all stages of the process.
The demand for pain management therapeutics is also being driven by the rising rates of migraine, chronic back pain, neuropathic pain, fibromyalgia, and arthritis. The market for therapeutics used in pain management is anticipated to expand significantly during the forecast period.
The key players of the Global Pain Management Therapeutics Market are:
AstraZeneca plc., Abbott Laboratories, Depomed, Inc., Endo International plc., GlaxoSmithKline plc., Johnson & Johnson Services, Inc., Merck & Co., Inc., Mallinckrodt Pharmaceuticals, Novartis AG, Pfizer Inc., Purdue Pharma L.P., and Teva Pharmaceutical Industries Ltd. are major companies in the global market for pain management therapeutics.
Pain Management Therapeutics Market Report:
Pain Management Therapeutics market global market share, trends, and forecasts. In this report, the years up to 2020 as historic records, the year 2021 serves as the base year and the years from 2022 to 2032 are the forecast period, respectively.
Our research takes into account the competition environment, and the report will include an analysis of the major companies in the worldwide myasthenia gravis therapy market as well as their market forecasts.
In addition, the report will provide information on important advancements, worldwide and regional sales networks, business strategies, research and development initiatives, staff strength, and key executives for all significant Pain Management Therapeutics companies.
Read more about the report inclusions: https://www.insightslice.com/pain-management-therapeutics-market
The study includes an in-depth analysis of important competitors with a majority share of the worldwide market, with a focus on all operational business segments, and would identify firms specializing in pain management therapies.
Additionally, the market shares of well-known businesses in the worldwide market for pain management therapies would be assessed.
For example, GlaxoSmithKline plc posted sales revenue of USD 41,974.1 million in 2019, and according to the company’s analysis of its product segments, the pharmaceuticals business segment accounted for the majority of the company’s revenue in 2019, with North America as its largest revenue-contributing geography.
They run their company through three divisions which are called pharmaceuticals, vaccines, and consumer health. Therapeutics for pain treatment are provided by the company’s pharmaceuticals division, which contributed approximately US$21,860.0 million in sales before the forecast period.
Regional statistics with highest growth forecast:
Because of the rising number of cancer patients as well as the advancement of better pain management therapeutic drugs to meet the growing demand, North America accounted for the largest share of the global market for pain management therapeutics in 2019.
This region is also expected to continue to hold this position throughout the forecast period of our report. A significant portion of the worldwide market has been dominated by the United States due to product innovation supported by opioid administration in low volumes.
A significant portion of the worldwide market is estimated to come from Asia Pacific, which is also likely to see the quickest growth throughout the forecast period due to the region’s growing geriatric population, high cancer incidence, and rising surgical procedure volume.
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Global Pain Management Therapeutics Market Key Segments:
By Therapeutics
- Anticonvulsants
- Antidepressants
- Anesthetics
- NSAIDs
- Opioids
- Oxycodones
- Hydrocodones
- Tramadol
- Others
- Antimigraine Agents
- Other Non-narcotic Analgesics
By Indication
- Neuropathic Pain
- Fibromyalgia
- Arthritic Pain
- Chronic Back Pain
- Migraine
- Post-operative Pain
- Cancer Pain
By Route of Administration
- Oral
- Parenteral
- Others
By Distribution Channel
- Retail Pharmacies
- Online Pharmacies
- Others
By Geography:
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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