Ironically, the doctors while prescribing drugs for pain management restrict the use of opioids, as it is illegal in most the nations. However, the use of opioids significantly help in releasing the pain suffered by the cancer patients.
Ironically, the doctors while prescribing drugs for pain management restrict the use of opioids, as it is illegal in most the nations. However, the use of opioids significantly help in releasing the pain suffered by the cancer patients. Among the two-third of individuals suffering from metastatic cancer are not treats for the intensity of pain they suffer. It is mainly due to the stigma attached with the use of opioids that restricts the doctors for prescribing for the concerns related over addiction. There are many researches taking place to develop therapeutics to manage pain developed by various diseases.
As per a report by Transparency Market Research (TMR), the global market for pain management therapeutics is likely to clock a CAGR of 4.0% for the forecast period from 2017 to 2025. Progressing at this rate, the market’s valuation of US$62,246.8 mn in 2016 will become worth US$88,253.4 mn by the end of 2025.
Changing ways of living, developing chronic pain, and increasing health consciousness among the huge population has benefitted the market for pain management therapeutics in the global market. Better economic stability, increasing number of geriatric populations, and tapping opportunities in emerging economies by the industry players have further developed and boosted the global market. Additionally, the information provided by the National Health Interview Survey suggested that nearly 20% of the global population is suffering from chronic pain, in 2016. Moreover, the prevalence of corporate culture having longer stays at desk have enormously increased lower back pain, thus it is the main driver pushing the demand for pain management therapeutics in coming years.
Migraine, neuropathic pain, post-operative pain, arthritic pain, chronic back pain, cancer pain, and fibromyalgia diseases are the main categories in the pain management therapeutics. Among these, cancer pain management has been the most significant segment. The pain management therapeutics has largely increased due to increasing cases of cancer added with the increasing awareness for therapeutics managing the cancer pain. As per the International Association for the Study Pain revealed in a report that 10 million of individuals across the globe are diagnosed with cancer each year.
Request a Sample of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1059
- The development and advancement in the pain management therapeutic market are done with the help of reformulation of old drugs and launching new drugs that will grow the market. The growing number of new players in the developing economies in the therapeutic market.
- The scoring base of elderly individuals, increasing healthcare awareness among the masses in emerging economies, and tailoring the growth opportunities by the industry players are some of the key factors escalating the pain management therapeutics market in the developing countries.
- The regional participation in the pain management therapeutics is largely seen in the North America with the leading global share of 56.1% in 2016. The region has gained high level of demand due to positive reimbursement policies for drugs and convenience in getting rang of drugs over the counter for pain management in North America. It has been anticipated that the pain management therapeutics market in North America will expand at a 4.1% of CAGR during the forecast period between 2017 to 2025.
- Europe and Asia Pacific have also shown significant improvement, where Asia Pacific is estimated to grow at a rate of 4.6% during 2017 to 2025.
Lucrative Opportunities in Asia Pacific draws Players Galore
Geography-wise, the global pain management therapeutics market has been classified into North America, Asia Pacific, Europe, and Rest of the World. Of them, North America held the leading share of 56.1% in the pain management therapeutics market in 2016. The growth of this regional market is mainly because of favorable reimbursement policies for prescription drugs used for pain management and availability of a spectrum of over-the-counter drugs for pain management in the U.S., and Canada. Powered by the U.S., the North America pain management therapeutics market will likely display a CAGR of 4.1% during the forecast period from 2017 to 2025.
Buy Pain Management Therapeutics Market Report - https://www.transparencymarketresearch.com/checkout.php?rep_id=1059<ype=S
Europe stood second holding 25.9% of the overall market in terms of revenue in 2016.
Asia Pacific, on the other hand, is anticipated to witness the leading growth rate of 4.6% from 2017 to 2025 due to a growing geriatric population, rising awareness to address health problems in a timely manner, and increased focus of leading companies to tap into growth opportunities in China and India.
Prominent names in the global pain management therapeutics market include Abbott Laboratories, AstraZenecal plc, Mallinckrodt plc, Eli Lilly & Company, GlaxoSmithKline plc, Endo Health Solutions, Novartis AG, Purdue Pharma LP, Merck & Co. Inc., Pfizer Inc., Johnson & Johnson, and Teva Pharmaceuticals.
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
