3.7% CAGR of Pain Management Therapeutics Market Witnessed To Hold Value Of UЅD 75.9 bn | Market.us
Pune, Maharashtra, India, September 15 2022 (Wiredrelease) Prudour Pvt. Ltd –:Pain management therapies offer relief from chronic pain, including pain caused by cancer. These treatments can include medications, psychotherapy, and physical therapy. Pharmacological agents used to manage pain include opioid analgesics (such as morphine), non-opioid analgesics (such as ibuprofen), anticonvulsants, and gabapentinoids. Psychotherapy may help reduce underlying sources of distress that contribute to pain, while physical therapy may provide relief from pain through exercises or other interventions. Some people use complementary or alternative therapies such as acupuncture or yoga for pain relief.
The global pain management therapeutics market is estimated to be valued at US$ 75.98 billion in 2021 and is expected to exhibit a CAGR of 3.7% over the forecast period (2022-2032).
The market is expected to grow due to an increasing number of patients who require general, orthopedic and trauma surgeries. According to the Australian Institute of Health and Welfare in 2018, the average annual increase in admissions to elective surgery at public hospitals was 2.1% per annum, compared with 2014-15.
North America held the dominant position in the global pain relief therapeutics market in 2020. It accounted for 32.40% of total volume. Europe and Asia Pacific followed closely. North American companies are heavily involved in R&D activities to develop new pain management drugs. This can be attributed in part to North America’s dominant market position. Concentric Analgesics, Inc., which is a clinical-stage pharmaceutical company, recently completed the Phase 2 clinical trial for vocacapsaicin, CA-008, a non-opioid, first-in-class therapeutic with FDA Breakthrough Treatment Designation.
Rise in Incidence of Chronic Pain Disorders to Promote Usage of Pain Management Therapeutics: Key Drivers
The global number of people suffering from chronic pain is steadily increasing. According to the World Health Organization, the U.S. had 50 millions people who were suffering from chronic pain in 2018. According to European Pain Federation (EPF), around 80 Mn adults are affected by chronic painful.
An increasing number of cases worldwide of cancer has also contributed to the increased demand for pain management therapeutics. This includes pain caused by cancer therapy, as well incursion of cancer cells to bones and other body parts. WHO projections indicate that the global prevalence of cancer will increase by 75% in the period 2008 through 2030.
Thus, increasing numbers of chronic pain conditions encourages the use of pain relief drugs and drives the market.
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Global Pain Management Technologies Market: Restraints
Prescription drug abuse will likely hinder the growth of this market. RAND Corporation’s 2019 study “The Future of Fentanyl or Other Synthetic Opioids” shows that deaths due to synthetic opioids have increased from 3,000 to more than 35,000 in 2013 to more over 30,000 in 2018, according to the U.S.
It is also possible that market growth will be affected by pain advocacy groups losing their influence, funding, power, and influence. Due to a decrease in funding from the government as well sponsors, including pharmaceutical organizations, advocates for pain management are losing the power and influence they had originally.
– This study will provide an in-depth analysis of the global “Pain Management Therapeutics” market, current and future trends to help investors understand the potential investment opportunities.
– You will find information on the market’s key drivers, their limitations and potential impacts, as well as the impact of these factors on Pain Management Therapeutics market size.
– Porter’s Five Forces Analysis illustrates the potential of buyers and suppliers in the industry.
– To determine market potential, a quantitative analysis of the market from 2016-2022 is performed.
To improve their market position on the global Pain Management Therapeutics marketplace, key players now focus on product innovations, mergers/acquisitions, recent developments and joint ventures, collaborations, and partnerships. Market players compete based on product quality. This market is dominated by major players who invest in R&D, manufacturing, and infrastructure development. They also look to integrate opportunities across the value chain.
Key Takeaways from the Competitive Landscape Section:
* A comprehensive overview of the profiles of each company of interest
* Participation in revenue share
* Analysis of each key player’s industrial chains
* Business growth strategies mastered by top market players
Key players operating in the global Pain Management Therapeutics market are:
Johnson & Johnson
Teva Pharmaceutical Industries
Worldwide Pain Management Therapeutics Market Segmentation
Analysis by Product Type
Non-steroidal Anti-inflammatory Drugs (NSAIDS)
Other Non-narcotic Analgesic
Analysis by Applications Type
Chronic Back Pain
Regional Segment Analysis of the Pain Management Therapeutics Market
– North America (U.S., Canada, Mexico)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Rest of APAC)
– South America (Brazil and the Rest of South America)
– The Middle East and Africa (UAE, South Africa, Rest of MEA)
To know more about the market opportunities by region and country, click here to Buy The Complete Report: https://market.us/purchase-report/?report_id=25165
Research Methodology by Market.us
Five phases will be used to conduct research on the keyword market. These include primary research as well as secondary research. Subject matter expert advice and quality control are also included. After gaining a better understanding of the requirements, secondary research was conducted to identify segment specifications, qualitative and quantitative data as well the factors driving the market growth. Secondary sources used in the study are press releases, annual reports from companies and research papers that relate to the industry.
For precise information on market expansion opportunities, data was also gathered from various sources, including trade journals, industry magazines, government websites and associations. Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Faction, Bloomberg, One Source and Hoovers, which proved to be useful for in-depth technical study of the market.
This report answers the following 12 key questions
1. Is Pain Management Therapeutics a booming industry?
2. How big is the Pain Management Therapeutics market?
3. How fast is the Pain Management Therapeutics industry growing?
4. Who are the key players in Pain Management Therapeutics?
5. Which industry uses Pain Management Therapeutics the most?
6. What is the Pain Management Therapeutics market growth?
7. Which region held the largest arPain Management Therapeutics market share?
8. What factors drive the Pain Management Therapeutics market?
9. What are the business risks and threats to the market?
10. What are the emerging trends in this market and the reasons behind them?
11. What are some changing demands of customers in the market?
12. What are the new developments in the market? Which companies are leading these developments?
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Chapter 1 Preface
This segment provides opinions of key participants, an audit of Pain Management Therapeutics industry, market outlook across key regions, financial services, and various challenges faced by Pain Management Therapeutics market. It briefly introduces the global Pain Management Therapeutics market. This section depends on the Scope of the Study and Report Guidance.
Chapter 2 Executive Summary
It elaborated market outlook by segmentation in Pain Management Therapeutics market. In addition, it also represents the market snapshot covered in the report.
Chapter 3 Market Dynamics
This section comprises current market dynamics in the Pain Management Therapeutics market. Such as key driving factors, major opportunities areas, restraining factors, & recent trends in Pain Management Therapeutics market. It also includes SWOT analysis and Porter’s five force analysis. This help to identify the key growth factors and challenges in the Pain Management Therapeutics market.
Chapter 4 Global Pain Management Therapeutics market Analysis, Opportunity, and Forecast, 2016-2032
This chapter comprises the current scenario of the Global Pain Management Therapeutics market in 2021, including forecast estimation for 2023-2032.
Chapter 5 Geographic Analysis
This section has covered in-depth regional market share analysis and carefully scrutinized it to understand its current and future growth, development, and demand scenarios for this market.
Chapter 6 Covid-19 Impact
This section briefly describes the positive and negative impact of the COVID-19 Pandemic on the Global Pain Management Therapeutics Market.
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Chapter 7 Pricing Analysis
This chapter provides price point analysis by region and other forecasts.
Chapter 8 Competitive Landscape
It includes major players in the Pain Management Therapeutics market. Moreover, it also covers the detailed company shares analysis in the report based on their product’s demand, and market served, the number of products, applications, regional growth, and other factors.
Chapter 9 Research Methodology
The research methodology chapter includes the following main facts,
9.2 Secondary Research
9.3 Primary Research
Chapter 10 Conclusion
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