Cancer pain market will likely to generate revenue of $7,545 million by 2025 |Top 3 Key players are Aoxing Pharmaceutical Company, BioDelivery Sciences International, Daiichi Sankyo Co.
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Cancer pain is chronic in nature and is commonly associated with cancer. It results from tissue damage, either due to the disease itself or due to different treatments such as chemotherapy, radiotherapy, or surgery. Cancer pain drugs are expected to exhibit significant market growth during the forecast period due to growth in demand for the drugs, surge in prevalence of cancer across the globe, increase in number of R&D activities to develop ideal cancer pain medications, and rise in the unmet needs for management of cancer pain.
Based on drug type, the global cancer pain market is categorized into opioids, non-opioids, and nerve blockers. The opioids segment was the major revenue contributor in 2017, and is anticipated to remain dominant during the forecast period due to increase in the adoption of opioids owing to rise in number of moderate to severe stage cancer patient population.
According to disease indication, the market is classified into lung cancer, colorectal cancer, breast cancer, prostate cancer, blood cancer, and others. The lung cancer segment presently dominates the market and is expected to remain dominant during the forecast period due to increase in adoption of cancer pain medication for the treatment and rise in prevalence of lung cancer, globally.
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Key Findings of the Cancer Pain Market:
• Based on drug type, the opioids segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 5.0% from 2018 to 2025.
• Based on disease indication, the lung cancer segment held more than one-fifth of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
• Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 5.4% during the forecast period.
North America accounted for more than one-third of the global market share in 2017 and is expected to remain dominant throughout the forecast period. This was attributed to the increase in demand for cancer pain therapeutics, high prevalence of cancer, wide availability of cancer pain drugs and trained medical professionals, and supportive reimbursement policies in the healthcare system.
Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to surge in incidence of cancer, with increase in adoption of cancer pain drugs for treatment of cancer.
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