Pain Management Drugs Market Overview:
The Global Pain Management Drugs Market is estimated to reach from $58,577 million in 2016, $77,131 million by 2023. It is anticipated to register a CAGR of 4% during the forecast period, 2017-2023. Pain is a distressing sensory and emotional feeling, which occurs due to tissue damage or illness. In addition, various diseases, such as multiple sclerosis, osteoarthritis, stomach ulcer, chronic arthritis, fibromyalgia, diabetic neuropathy, and cancer can cause pain. The duration of pain varies from short term known as acute pain to long term referred as chronic pain. Acute pain is a sudden onset of pain, whereas chronic pain occurs due to aging conditions of bone & joints, nerve damage, or injury. The management of pain involves reduction or treatment of pain using a particular set of drugs. Various drugs are available which provide pain relief through a variety of physiological mechanism, such as by targeting the nociceptors.
Global Pain Management Drugs Market Segmentation
The global pain management drugs market is segmented based on drug class, indication, and geography. On the basis of drug class, the market is categorized into nonsteroidal anti-inflammatory drugs (NSAIDs), anesthetics, anticonvulsants, antimigraine agents, antidepressants, opioids, and nonnarcotic analgesics. Opioids are further classified into tramadol, hydrocodone, oxycodone, and others (opioids include fentanyl, morphine, meperidine, codeine, and methadone). By indication, the market is divided into arthritic pain, neuropathic pain, cancer pain, chronic back pain, post-operative pain, migraine, and fibromyalgia. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Drivers, Restraints, and Opportunities
The impact of the driving factors is expected to surpass the effect of restraints. The advancements in drug development and presence of large untapped markets in the developing economies are anticipated to provide new avenues for the industry growth in the near future.
Drivers and Restraints
Global Pain Management Drugs Market: Key Geographical Segment
North America accounted for the largest share of the global pain management drugs market in 2016. It is expected to maintain its dominance throughout the forecast period.
Global Pain Management Drugs Market, by region, 2016 (%)
The key players operating in the global pain management drugs market include Novartis AG, Eli Lilly & Company, Abbott Laboratories, Endo Health Solutions, Inc., Purdue Pharma L.P., Pfizer, Inc., F. Hoffmann La Roche Ltd., Merck & Co. Inc., Johnson & Johnson, and GlaxoSmithKline Plc.
Other prominent players in the value chain of the pain management drugs market include Allergen Inc., Bayer AG, Bristol-Myers Squibb, Valeant Pharmaceuticals International Inc., Boehringer Ingelheim, Sorrento Therapeutics, WEX Pharmaceuticals, and Zynerba Pharmaceuticals.
Key Benefits of the Pain Management Drugs Market Report for Stakeholders:
- It entails a detailed quantitative analysis of the current market trends to identify the prevailing opportunities, during the period, 2016- 2023.
- It offers market estimations on the basis of comprehensive analysis of the key developments in the industry.
- It provides in-depth assessment of the market with respect to drug class, indication, and geography.
- It enlists the development strategies adopted by key manufacturers to understand the competitive scenario of the market.
Pain Management Drugs Market Key Segments:
By Drug Class
- Antimigraine Agents
- Nonnarcotic Analgesics
- Arthritic Pain
- Neuropathic Pain
- Cancer Pain
- Chronic Back Pain
- Postoperative Pain
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA