Our latest research report entitled Pain Management Therapeutics Market (by indication (chronic back, neuropathic, fibromyalgia, arthritic, cancer, post-operative pain, migraine), therapeutics (anesthetics, antidepressants, anticonvulsants, opioids), distribution channel (online, hospitals, retail pharmacy)) provides complete and deep insights into the market dynamics and growth of pain management therapeutics. The latest information on market risks, industry chain structure pain management therapeutics cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential pain management therapeutics growth factors. According to the report, the global pain management therapeutics market is projected to grow at a CAGR of 4.5% over the forecast period of 2018-2024.
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Pain is a highly unpleasant physical sensation caused by damaged tissue or illness and injury. The duration of pain varies from short pain referred to as acute pain to the long term known as chronic pain. The various types of diseases such as stomach ulcer, osteoarthritis, fibromyalgia, chronic arthritis, diabetic neuropathy can cause pain. Pain management is the medical specialty, which is necessary for treating all types of pain including neuropathic, musculoskeletal, spinal disorder and many others. Accurate diagnosis, early intervention, and pain management therapies are helping to reduce the severity of pain. To achieve pain management goal among individuals, use minimally invasive procedure and a particular set of drugs.
Increasing Incidences of Accidental And Sports Injuries is Escalating Growth of the Market
The number of patients suffering from chronic pain is on a continuous rise globally. Growing incidences of chronic diseases such as depression, nerve damage, and epilepsy and bone pain coupled with increasing geriatric population are major factors driving the growth of global pain management therapeutics market. Apart from this, growing awareness regarding pain management therapeutics, increasing economic stability globally and favorable regularity scenario in developed countries across the globe are some factors contributes to this market.
Moreover, increasing incidences of accidental and sports injuries is escalating the growth of the market. However, low adoption of pain management therapeutics in the emerging countries and side effect caused by certain pain management are key factors hampering the growth of the pain management therapies market. Furthermore, ongoing research and development activities in the pain therapeutics creating growth opportunities for the growth of the pain management therapeutics market in the coming years.
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North America Holds Maximum Share in the Pain Management Therapeutics Market
Among the region, North America holds the maximum share in the pain management therapeutics market owing to the high consumption of pain management drugs by populations and the availability of well-established healthcare infrastructures. Additionally, favorable reimbursement policies for the prescription-based pain therapeutics drug is boosting the demand for the market.
Europe is expected to be the second-largest region in the pain management therapeutics market. On the other hand, Asia Pacific is registered to be a significant CAGR rate during the forecast period. Growing healthcare awareness among the people, rise in geriatric populations and expanding investment by the government for the healthcare infrastructures are factors responsible for the growth of this market in the Asia Pacific region.
The report on the global pain management therapeutics market covers segments such as indication, therapeutics, and distribution channels. On the basis of indication, the sub-markets include chronic back pain, neuropathic pain, fibromyalgia, arthritic pain, cancer pain, post-operative pain, migraine, and others. On the basis of therapeutics, the sub-markets include anesthetics, antidepressants, anticonvulsants, non-steroidal anti-inflammatory drugs (NSAIDS), anti-migraine agents, opioids, non-narcotic analgesics, and others. On the basis of the distribution channel, the sub-markets include the online pharmacy, hospital pharmacy, and retail pharmacy.
The report provides profiles of the companies in the market such as Abbott, Eli Lilly and Company, Pfizer Inc., Johnson & Johnson Services, Novartis AG, Merck & Co., Inc., AstraZeneca, Endo Pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd, and Mallinckrodt Pharmaceuticals company.
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- Comprehensive analysis of global as well as regional markets of the pain management therapeutics.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis, and the latest developments of the company.
- Infinium Global Research– Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand, and/or diversify.