Chronic pain is a complex medical condition that affects the physical and mental activity of the person. It can be caused by trauma, tissue damage, intense exercise, or cancer pain. Chronic pain varies in intensity from person to person. Chronic pain-controlled medications help people in reducing the intensity of their pain. These drugs target the specific biomolecules in the body and alter the specific mechanism to reduce the pain sensation. Treatment is provided to the patient on the basis of cause of pain. Moreover, chronic pain can be managed using various pharmacological and non-pharmacological therapies. Oxycodone, Tramadol, Methadone, Buprenorphine, OxyContin, and other drugs are used in the treatment of chronic pain.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that first emerged in late December in Hubei province of the Wuhan city in China. The virus that causes, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is highly infectious and is transmitted from person to person. Since the outbreak in December 2019, the disease has spread to almost 213 countries across the globe with the World Health Organization declaring it a pandemic on March 11, 2020.
Pharmaceutical and biotech companies along with governments around the globe are working to address the COVID-19 outbreak, from supporting the vaccines development to medicine supply chain planning. Approximately around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a significant increase in demand for the treatment of COVID-19. Such increased demand for these drugs has offered huge opportunities for manufacturers of COVID-19 treatment drugs, as many developed countries are experiencing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness a significant growth in the future due to the demand for vaccine and the treatment drugs for COVID-19. This is expected to have a significant impact on the chronic pain management drugs market.
Top Impacting Factors
- Rise in chronic pain cases, surge in geriatric population, increase in number of accidents, rise in cases of cancer & diabetic neuropathy, increase in surgery & post-surgical pain and rise in demand for effective pain treatment are the key factors that drive the growth of the chronic pain management drugs market.
- Furthermore, increase in adoption of pain management, surge in health care expenses, rise in demand for minimally invasive treatments, increased awareness toward pain management treatments, R&D activities to improve drugs quality & the launch of novel drugs, and joint ventures, agreements & mergers among the key market players drive the growth of the chronic pain management drugs market.
- However, side effects associated with the use of these drugs such as hypersensitivity and the availability of substitutes limit the market growth.
- Government initiatives for regulatory approvals are expected to offer lucrative opportunities for the market expansion.
R&D Activities for the Launch of Novel Drugs for Treatment
In 2021, the University of Michigan School of Dentistry confirmed that naltrexone in low doses was an effective treatment for chronic pain. The drug will be available in tablet doses ranging from 50 to100 mg.
In 2021, a university of Rochester researcher, worked on a new drug Tanezumab. These drugs were used to treat chronic lower back pain.
In 2021, Nektar completed clinical trials on NKTR-181 and applied to the FDA for approval of the drug which was used in the treatment of chronic pain.
Key Benefits of the Report
- This study presents the analytical depiction of chronic pain management drugs market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the chronic pain management drugs market.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Chronic Pain Management Drugs Market Report
- Who are the leading market players active in the chronic pain management drugs market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the future projections that would help in taking further strategic steps?
- What is "chronic pain management drugs"?
- What is the prediction of the "chronic pain management" market in the future?
- Who are the leading global market players in the "chronic pain management drugs" market?
- What are the current and predicted trends?
- What are the key benefits of the "chronic pain management drugs" market report?
Chronic Pain Management Drugs Market Report Highlights
By Product Type
By Prescription Type
By Distribution Channel
Key Market Players
Johnson and Johnson Services Inc., Purdue Pharma L.P., Depomed Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Merck & Co., Endo International plc., GlaxoSmithKline plc., Abbott Laboratories, AstraZeneca plc.