Albany NY, United States, May 05, 2022 (GLOBE NEWSWIRE) -- The global pain management therapeutics market is estimated to register growth at a CAGR of 3.7% during the forecast period of 2019 to 2027, note analysts at Transparency Market Research (TMR).
Pain management therapeutics are in high demand for the treatment of a wide range of health disorders, including fibromyalgia, neuropathic pain, chronic back pain, arthritic pain, post-operative pain, cancer pain, and migraine. This factor explains why the global pain management therapeutics market is prognosticated to exceed US$ 92.1 Bn by 2027.
Several players operating in the global pain management therapeutics market are increasing efforts to spread awareness on available products for the treatment of several pain incidences occurring due to different health conditions. This factor is expected to help in the growth of the pain management therapeutics market.
Many enterprises from the market for pain management therapeutics are focusing on the use of varied strategies such as development of technologically advanced products, regulatory approvals, and new product launches in order to stay ahead of the competition. Moreover, many leading companies are using strategies of collaborations and acquisitions in order to expand their businesses in new regions and maintain their leading positions, notes TMR report.
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Pain Management Therapeutics Market: Key Findings
- In the recent years, there has been a surge in the number of cancer patients across the globe. This factor is bolstering the demand for diverse pain management therapeutics from this patient pool, which, in turn, is creating business prospects in the market. Moreover, the global pain management therapeutics market is being driven by rising initiatives by government as well private organizations globally on spreading awareness on different cancer types and available treatment solutions.
- With increasing hectic lifestyles of working population from around the world, this population base is experiencing different health issues, including lower back problems and other chronic conditions. This factor is resulting in revenue-generation opportunities in the global pain management therapeutics market, according to report by TMR.
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Pain Management Therapeutics Market: Growth Boosters
- Increase in the number of people suffering from chronic pain disorders is leading to sizable demand avenues in the pain management therapeutics market
- Rise in use of different pain management products globally is expected to boost the sales growth in the pain management therapeutics market
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Pain Management Therapeutics Market: Regional Analysis
- The pain management therapeutics market in North America is projected to maintain its dominant position during the forecast period, owing to factors such as sturdy healthcare infrastructure, availability of technologically advanced healthcare facilities in nations such as Canada and the U.S., and access to convenient and effectual treatment options in the region
- The Asia Pacific pain management therapeutics market is foreseen to show expansion at a considerable pace during the forecast period due to swift economic development of several developing nations such as China, India, Vietnam, Indonesia, the Philippines, and South Korea. Moreover, the regional market is anticipated to gain lucrative prospects with rising availability of generic pain management solutions at affordable prices.
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Pain Management Therapeutics Market: Key Players
Some of the key players profiled in the report are:
- Depomed, Inc.
- Pfizer Inc.
- Purdue Pharma L.P.
- Endo International plc.
- Teva Pharmaceutical Industries Ltd.
- Mallinckrodt Pharmaceuticals
- AstraZeneca plc.
- Novartis AG
- Merck & Co., Inc.
- Johnson & Johnson Services, Inc.
- GlaxoSmithKline plc
- Abbott Laboratories
Pain Management Therapeutics Market Segmentation
Therapeutics
- Anticonvulsants
- Antidepressants
- Anesthetics
- NSAIDS
- Opioids
- Oxycodones
- Hydrocodones
- Tramadol
- Others
- Antimigraine Agents
- Other Non-narcotic Analgesic
- Anticonvulsants
Indication
- Neuropathic Pain
- Fibromyalgia
- Arthritic Pain
- Chronic Back Pain
- Migraine
- Post-Operative Pain
- Cancer Pain
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Pain Management Devices Market: The global pain management devices market includes is driven by high degree of rivalry among its players. A plenty of players in the market are competing for higher stakes. Thus, they are concentrating on divulging different kinds and executive gadgets with novel advancements to stay competitive in the global market.
Cancer Pain Management Market: Pain is an unpleasant emotional, subjective, and sensory experience due to the actual or potential damage caused to cells or tissues of the patients. Pain is the most common symptom in various manifestations that lead patients to seek medical assistance or advice.
Neuropathic Pain Management Market: The global neuropathic pain management market is estimated to expand considerably in the next few years, owing to a surge in incidence of peripheral nerve issues. Trauma, infections, or dysfunction in the central nervous system is the root cause of neuropathic pain.
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