| A04761 | Pages: 189 | Jul 2021 | 9162 Views | ||
| Author(s) : Vishal Bharadwaj , Onkar Sumant | Tables: 90 | Charts: 43 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Cancer Pain Market
Request Now !The global cancer pain market was valued at $6,197.8 million in 2020, and is estimated to reach $10,329.4 million by 2030, growing at a CAGR of 5.3% from 2021 to 2030.
The impact of COVID-19 pandemic is expected to remain moderate for the cancer pain market. The companies are facing a setback, owing to the lockdown, which led to a drop in the manufacturing and the patient flow reduced substantially. Also, the demand of cancer pain drugs further reduced due to the delayed shipments & production schedules which furthers create financial problems for companies with heavy debts. This, in turn, has limited the impact of COVID-19 on the cancer pain market.
Cancer pain can be due to the disease condition itself or may be due to the associated surgery, chemotherapy, and others. There are various drugs used for the management of cancer pain. The drugs used for the treatment of cancer pain depend on the severity of pain for instance strong opioids are used preferably in case of severe pain whereas non-opioids such as acetaminophen and NSAIDs are preferred to treat mild to moderate cancer pain.
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Growth of the global cancer pain market is majorly driven by increase in prevalence of cancer; rise in geriatric population; increase in healthcare expenditure; and increase in investments in R&D activities by various healthcare companies. For instance, according to American Cancer Society, nearly 1.8 million new cancer cases were diagnosed and about 606,520 cancer deaths were observed in the U.S. in 2020. According to the International Agency for Research on Cancer, in 2020, approximately 1,065,960 new cases were reported for colorectal cancer worldwide. The geriatric population is more vulnerable to various types of cancers, such as lung cancer, bladder cancer, renal cancer, melanoma, and others, due to aging effect and mutation in the gene. According to the National Cancer Institute, the median age for diagnosis is 61 years for breast cancer, 68 years for colorectal cancer, 70 years for lung cancer, and 66 years for prostate cancer. Furthermore, according to the Medicare and Medicaid Services, the National Health Expenditure (NHE) reached $3.8 trillion in 2019. The NHE increased by 4.6% in 2019, and accounted for 17.7% of the U.S. GDP. Surge in demand for monoclonal antibodies for the treatment of cancer boosts the growth of the cancer pain market.
However, adverse effect associated associated with the use of drugs employed in cancer pain management such as drug tolerance, drug dependence, urinary retention, sleep disorders, cognitive impairment, and others are expected to restrict the cancer pain market growth during the forecast period.
The cancer pain market is segmented on the basis of drug type, disease indication, and region. By drug type, the market is categorized into opioids, non-opioids, and nerve blockers. On the basis of opioids, it is further bifurcated into morphine, fentanyl, and others. By non-opioids, the market is divided into acetaminophen and non-steroidal anti-inflammatory drugs (NSAIDS). By disease indication, it is divided into lung cancer, colorectal cancer, breast cancer, prostate cancer, blood cancer, and others.
Region wise, the cancer pain market is analyzed across North America (the U.S., Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Depending on drug type, the opioids segment dominated the market in 2020, and is expected to continue this trend throughout the forecast period, owing to rise in prevalence of severe cancer pain, increase in adoption of opioids in the management of cancer pain, and strong presence of pipeline drugs. However, the non-opioids segment is expected to witness considerable market growth during the forecast period, owing to easy availability and lower cost of drugs.
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On the basis of disease indication, the lung cancer segment dominated the cancer pain market in 2020, and is expected to continue this trend throughout the forecast period, due to increase in prevalence of lung cancer, higher incidence of pain associated with lung cancer, and availability of effective cancer pain analgesic for the treatment of lung cancer. However, the breast cancer segment is expected to witness considerable market growth during the forecast period, due to increase in prevalence of breast cancer and higher adoption of pain analgesic in the treatment of breast cancer.
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North America accounted for a major share in the cancer pain market in 2020, and is expected to maintain its dominance during the forecast period, owing to rise in prevalence of cancer, technological advancements in healthcare sector, easy availability of pain therapeutics, and availability of premiere chemotherapy treatment options. However, Asia-Pacific is expected to register highest CAGR of 6.0% from 2021 to 2030, owing to rapid rise in the prevalence of cancer, rise in geriatric population, and increase in awareness related to early screening of cancer.
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List Of Key Companies
Key Benefits For Stakeholders
Key Market Segments
Key Market Players
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According to analyst perspective, the cancer pain market is expected to witness a steady growth in the future. The market has drawn the interest of the healthcare industry, owing to increase in the prevalence of cancer across the world and rise in demand for ideal therapeutics for the management of cancer pain. In addition, rise in incidence of cancer, surge in R&D studies to develop ideal cancer pain therapeutics, wide availability of drugs for management of cancer pain and growth in adoption of cancer pain medications is projected to supplement the market growth during the forecast period. The cancer pain market is dominated by well-established players; hence, the market is anticipated to witness intense competition. Due to surge in use of cancer pain drugs owing to higher number of cancers affected patient population with developed healthcare infrastructure is expected to boost the market growth in the near future.
A. There is no value chain analysis provided in the cancer pain market report.
A. Yes, cancer pain market companies are profiled in the report
A. The key trends in the cancer pain market are due to rise in prevalence of cancer across geographies and increase in adoption of cancer pain drugs for treatment of mild to moderate pain drive the growth of the global cancer pain market.
A. The market value of cancer pain market in 2030 is 10,329.40 million.
A. The total market value of cancer pain market is $6,197.00 million in 2020.
A. The top companies that hold the market share in cancer pain market are Aoxing Pharmaceutical Company, Inc. Teva Pharmaceutical Industeries Limted, Inc, Pfizer, Inc and Orexo AB.
A. The base year for the report is 2020.
A. The forecast period in the report is from 2021 to 2030.
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