Press release
Cancer Pain Therapeutics Market Report: Analyzing Effective Business Strategies
Overview-Cancer pain therapeutics market includes the drugs and the devices used for the management of pain caused due to various types of cancers. It can be due to the disease condition itself or may be due to the treatments such as surgeries, chemotherapy, and others. It can also be caused by the pressing of the tumor onto the nerves, bones, or other organs of the body. Cancer pain can be categorized as acute and chronic based on the onset and duration of cancer. The global Cancer Pain Therapeutics Market generated US$5,285 million in 2017 and is projected to reach US$7,545 million by 2025.
Drivers-
Increase in prevalence of cancer and rise in adoption of cancer pain drugs for treatment of mild to moderate pain drive the growth of the Cancer Pain Therapeutics Market. According to World Health Organization (WHO), Cancers are among the leading causes of morbidity and mortality worldwide, responsible for 18.1 million new cases and 9.6 million deaths in 2018. Furthermore, increased healthcare expenditures, rise in public awareness, and advent of advance cancer pain therapeutics are expected to boost the growth of this market.
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Restraints-
Adverse side-effect associated with the use of cancer pain drugs is expected to act as a restraint to the growth of the cancer pain therapeutics market
Regional Insights-
Asia-Pacific is expected to dominate the global Cancer Pain Therapeutics Market. This is due to large population base, rise in availability of pain therapeutics, surge in incidence of cancer, and improvement of healthcare infrastructure. China, Japan, and India have high prevalence of cancer, which is expected to drive the demand for the cancer pain market in the future. According to the National Institute of Cancer Prevention and Research (NICPR), an estimated 2.25 million people in India live with cancer and more than 1,157,294 new cancer patients are registered every year. In 2018, 7, 84,821 people (4, 13,519 men and 3, 71,302 women) died of cancer.
Competitive Section-
Some of the key players in the market are Daiichi Sankyo Co., Ltd., Hisamitsu Pharmaceutical Co., Inc., Orexo AB, Mundipharma International Limited, and Grnenthal Pharma GmbH & Co. KG
In September 2019, Daiichi Sankyo Co., Ltd. introduced opioid-based injections for controlling pain during cancer treatment
In November 2020, Daiichi Sankyo Company, Limited announced to create a new Oncology Business Unit under one team singularly devoted to people with cancer.
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