Pain management is a branch of medicine, which employs approach to ease the suffering and improve the quality of life of individuals suffering from pain. Pain can be classified based on its occurrence and duration along with the affected body part. First line of treatment for pain management is pharmaceutical therapeutics or pain killer drugs, most of which are well-known brands.
The global pain management drugs market was valued at $58,577 million in 2021, and is estimated to reach $77,131 million by 2026, registering a CAGR of 4% from 2021 to 2026.
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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Global pain management drugs market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Rise in geriatric population is the major factor that drives the growth of the global pain management market, as aged people are more prone to suffer from joint pain and other chronic conditions. Moreover, surge in prevalence of chronic diseases such as cancer, diabetic neuropathy, and osteoarthritis propels the market growth.
Furthermore, increase in number of surgical procedures and rise in healthcare expenditure are expected to fuel the growth of the market. However, drug exploitation, patent expiration of prescription pain medication drugs, and availability of substitutes such as pain relief devices restrain the market growth.
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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 (fentanyl, morphine, meperidine, codeine, and methadone). By indication, the market is divided into arthritic pain, neuropathic pain, cancer pain, chronic back pain, postoperative pain, migraine, and fibromyalgia. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
This report offers a detailed quantitative analysis of the current & future market trends from 2016 to 2023 to identify the prevailing opportunities.
The market estimations provided in this report are based on comprehensive analysis of the key developments in the industry.
The global pain management drugs market is comprehensively analyzed with respect to drug class, indication, and geography.
In-depth analysis based on geography facilitates to analyze the regional trends to assist in strategic business planning.
The developmental strategies adopted by key manufacturers are enlisted in the report to understand the competitive scenario of the market.
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KEY PLAYERS PROFILED
Eli Lilly & Company
Endo Health Solutions, Inc.
Purdue Pharma L.P.
F. Hoffmann La Roche Ltd.
Merck & Co. Inc.
Johnson & Johnson
KEY MARKET SEGMENTS
By Drug Class
Chronic Back Pain
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Rest of Europe
Rest of Asia-Pacific
Republic of South Africa
Rest of LAMEA
The other players operating in the pain management drugs market include (companies not profiled in the report):
Valeant Pharmaceuticals International Inc.
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What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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What are the goals of the report?
This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.
The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.
The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
The research report includes various factors contributing to the market’s growth.
The report analyzes the growth rate, market size, and market valuation for the forecast period.
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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