Pain Management Drug Market to Reach $85.54 Billion by 2027 - Allied Market Research

Allied Market Research published a report, titled, "Pain management drugs Market by Drug Class, (NSAIDS, Anesthetics, Anticonvulsant, Anti-Migraine Drug, Antidepressant Drugs, Opioids, and Non-Narcotic Analgesics) and Indication (Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Pain, Post-Operative Pain, Migraine, and Fibromyalgia): Global Opportunity Analysis and Industry Forecast, 2019-2027."

According to the report, the global Pain management drugs industry garnered $65.96 billion in 2019, and is estimated to reach $85.54 billion by 2027, witnessing a CAGR of 3.9% from 2020 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭:
https://www.alliedmarketresearch.com/request-sample/404

𝐃𝐫𝐢𝐯𝐞𝐫𝐬, 𝐫𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬, 𝐚𝐧𝐝 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

Increase in incidences of chronic diseases, favorable regulatory scenarios, and rise in geriatric populations drive the growth of the global Pain management drugs market. However, availability of alternative therapies, drug exploitation, and patent expiration of prescription drugs hinder the market growth. On the other hand, advancement in drug development and untapped markets in developing economies create new opportunities in the coming years.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨

The covid-19 outbreak has impacted the healthcare systems all across the world. Most of the clinics and pain services have been closed for public services, due to the safety measures imposed by governments.
Consequently, most chronic pain facilities were considered non-urgent. In addition both outpatient and elective interventional procedures were stopped during the COVID-19 pandemic to curb the spread.
The opioids segment to maintain its lead position during the forecast period

Based on drug class, the opioids segment accounted for the largest share in 2019, holding for more than one-fourth of the global pain management drugs market, and is expected to maintain its lead position during the forecast period. This is owing to high efficiency of opioids to relieve pain in major chronic conditions. However, the anti-migraine agents segment is estimated to portray the highest CAGR of 4.8% from 2020 to 2027. Rise in number of people suffering from migraine and other headache conditions is the major factor driving the growth of the segment.

𝑭𝒐𝒓 𝑷𝒖𝒓𝒄𝒉𝒂𝒔𝒆 𝑬𝒏𝒒𝒖𝒊𝒓𝒚 𝒂𝒕:
https://www.alliedmarketresearch.com/purchase-enquiry/404

The neuropathic pain segment to maintain its dominant share during the forecast period

Based on indication, the neuropathic pain segment accounted for around one-fifth of the global pain management drugs market in 2019, and is projected to maintain its dominant share during the forecast period. This is attributed to increase in presence of large patient population. However, the cancer pain segment is estimated to grow at the highest CAGR of 4.8% from 2020 to 2027. This is due to rise in number of cancer patients.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐛𝐲 𝟐𝟎𝟐𝟕

Based on region, North America held the highest market share of nearly half of the global Pain management drugs market in 2019, and is estimated to maintain its leadership status by 2027. On the other hand, Asia-Pacific is expected to portray the highest CAGR of 4.5% from 2020 to 2027. This was attributed to large number of aging population and favorable regulatory conditions.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬

Novartis AG
Eli Lilly & Company
Abbott Laboratories
Endo Health Solutions, Inc.
Purdue Pharma L.P.
Pfizer, Inc.
Mylan NV.
Merck & Co. Inc.
Johnson & Johnson
GlaxoSmithKline Plc.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭

David Correa
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𝐀𝐛𝐨𝐮𝐭 𝐀𝐥𝐥𝐢𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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