Press release
Gulf Pain Management Drugs Market is projected to reach $1,047.91 million by 2027, registering a CAGR of 3.2%.
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Surge in incidences of chronic diseases, supportive regulatory scenario, and rise in aging population drive the growth of the gulf 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, advancements in drug development create new opportunities in the coming years.
Chronic pain is mainly caused due to aging conditions of bone and joints and nerve damage and injury. Pain is managed by a particular set of drugs to reduce the symptoms or treat pain. Pain process is complex and there are various drugs that provide relief by acting through a variety of physiological mechanism. Opioids are the most prescribed pain medication. These are narcotic pain medications containing natural and synthetic opiates. Opioids are usually used for acute pain, such as short-term pain after surgery. Morphine, Fentanyl, Oxycodone and Codeine are some of the opioids used for pain management.
As per the statista, In the UAE, 4,500 new cancer cases are diagnosed each year, with cancers being the third leading cause of death after cardiovascular illnesses and injuries. This is expected to increase the need of cancer pain drugs for therapeutic purposes, thus fueling the gulf pain management drugs market growth.
The opioids segment to maintain its leadership status during the forecast period
Based on drug class, the opioids segment held the highest market share, contributing to around one-fourth of the gulf pain management drugs market in 2019, and is projected to maintain its leadership status during the forecast period. This is due to rise in number of pain-related cases. However, the NSAIDs segment is expected to register the fastest CAGR of 3.7% from 2020 to 2027. This is attributed to surge in usage to soothe arthritis symptoms, headaches, sprains, and other daily discomforts and rise in reported cancer cases.
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The neuropathic pain segment to continue its lead position by 2027
Based on indication, the neuropathic pain segment accounted for the largest share in 2019, holding nearly one-fifth of the gulf pain management drugs market, and is estimated to continue its lead position in terms of revenue during the forecast period. This is due to presence of large patient population that results in the demand for drugs for neuropathic pain. However, the cancer pain segment is expected to portray the fastest CAGR of 4.2% from 2020 to 2027, as chemotherapy may lead to numbness and tingling in hands and feet of cancer patients, and pain management drugs can be useful.
Saudi Arabia to maintain its dominant share by 2027
Based on country, Saudi Arabia contributed to the highest share in terms of revenue in 2019, accounting for nearly three-fifths of the gulf pain management drugs market, and will maintain its dominant share by 2027. This is attributed to rise in healthcare expenditure and ease in availability of pain management products. The report also analyzes the segments including the United Arab Emirates, Oman, and the rest of the gulf countries.
Leading market players
Novartis AG
Eli Lilly & Company
Abbott Laboratories
Purdue Pharma L.P.
Pfizer, Inc.
Mylan NV.
Merck & Co. Inc.
Johnson & Johnson
Gulf Pharmaceutical Industries (Julphar)
Oman pharmaceutical products Co. Llc
GlaxoSmithKline Plc.
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