Press release
Pain Management Drugs Market Expected to Reach $91,649.16 million by 2027
Pain Management Drugs Market 2030
๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Abbott Laboratories Novartis AG, Eli Lilly & Company, Abbott Laboratories, Endo Health Solutions, Inc., Purdue Pharma L.P., Pfizer, Inc., Mylan NV., Merck & Co. Inc., Johnson & Johnson, and GlaxoSmithKline Plc. The other prominent players in the value chain include Allergen Inc., Bayer AG, Bristol-Myers Squibb, Valeant Pharmaceuticals International Inc., Boehringer Ingelheim, Sorrento Therapeutics, WEX Pharmaceuticals, and Zynerba Pharmaceuticals.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ https://www.alliedmarketresearch.com/request-sample/404
Availability of sophisticated treatment options and advancements in technologies have increased life expectancy rates globally, which has resulted in increase of geriatric population. As elderly people are highly prone to suffer from pain, owing to various reasons such as rise in incidences and prevalence of chronic diseases such as heart disease, stroke, type II diabetes, and cancer, which drives the pain management drugs market growth. As per statistics provided by the UN Population Division, in 2019, total proportion of people above 65 years has increased from 703 million in 2019 and is projected to reach 1.5 billion by 2050, globally. Moreover, increase in R&D investments and rise in outsourcing of pharmaceuticals are expected to fuel the market growth in developing regions such as Asia-Pacific and LAMEA. However, availability of alternative therapies and patent expiration of prescription drugs for treatment of pain hamper growth of the pain management drugs market.
The opioids segment was the largest contributor to the market growth in 2019, opioids segment is the largest contributor toward the market growth, owing to high popularity of these drugs worldwide. However, the anesthetics segment is anticipated to be the fastest growing segment in the market, owing to frequent use of this drug type during surgeries and rise in number of surgeries globally.
Neuropathic Pain segment accounted for a majority of the pain management drugs market share in 2019 and is expected to exhibit a prominent growth rate during the forecast period, increase in presence of large patient population is the major factor that increases the demand for drugs for neuropathic pain. Cancer pain and chronic back pain were segment is expected to grow at the highest rate throughout the forecast period in 2019, owing to increase in number of surgeries globally and rise in prevalence of chronic diseases that lead to back pain.
๐ ๐จ๐ซ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ https://www.alliedmarketresearch.com/purchase-enquiry/404
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐
By drug type, the opioids segment occupied 26.5 % share of the pain management drug market in 2019.
By indication, the postoperative pain segment is anticipated to grow with the highest CAGR throughout the forecast period.
By pain type, the chronic pain segment accounted for the largest share
By region, North America is anticipated to experience growth at 3.6% during the forecast period.
๐๐ญ๐ก๐๐ซ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
Africa Large Volume Parenterals (LVP) Market -- https://www.alliedmarketresearch.com/africa-large-volume-parenterals-LVP-market
Artificial Intelligence in Medicine Market -- https://www.alliedmarketresearch.com/artificial-intelligence-in-medicine-market
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