Report Code: A13319 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Chronic Pain Management Drugs Market
Request Now !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            Â
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
Market Trends
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
Questions Answered in the Chronic Pain Management Drugs Market Report    Â
Chronic Pain Management Drugs Market Report Highlights
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Key Market Players | Endo International plc., AstraZeneca plc., Novartis AG, Depomed Inc., Johnson and Johnson Services Inc., Teva Pharmaceutical Industries Ltd., Abbott Laboratories, Merck & Co., GlaxoSmithKline plc., Purdue Pharma L.P., Pfizer Inc. |
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