Global pain management drugs market was valued US$ 35.2 Bn in 2017 and is expected to reach US$ 52.6 Bn by 2026, at a CAGR of 5.15% during a forecast period.
Pain management is the medical field used for treating all types of pain containing musculoskeletal, spinal and neuropathic pain disorders. It is used to improve the quality of life of individuals suffering from pain.
Growth in geriatric population is the major factor that drives the growth of the global pain management market due to the elderly people are more likely to suffer from joint pain as well as chronic disorders such as heart disease, stroke, diabetes, and cancer.
The rise in alertness regarding the side-effects of pain medication, and growing the occurrence & prevalence of chronic diseases is also boosting the growth of the market. Availability of alternative therapies and a rise in drug mistreatment are obstructing the growth of the pain management drugs market.
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Prescription medicine is leading the market, owing to the drugs are only available with a valid prescription from a doctor. Prescription drugs must pass through many clinical trial phases, approval by the food and drug administration (FDA), and observed for safety & side effects even after the drug is on the market. OTC drugs are available without consulting with a prescriber or pharmacist, though the patient is to be aware of these drugs still carry a risk. OTC drugs are monitored by the food and drug administration, but it is not as stringent as the process prescription drugs must go through.
Migraine is very common and it is a type of headache-related disorder with sensitivity towards odor, light or acoustics. Migraines can be treated with abortive and preventive. Abortive medications are work quickly and especially useful for people who have nausea & vomiting related to their migraine. Abortive medications can be taken by self-injection, mouth, and skin patch.
Fibromyalgia is a common type of chronic pain where the patient suffers from musculoskeletal pain along with memory, fatigue, sleep and mood issues. Asia-Pacific is estimated to be the fastest-growing region for the pain management drugs market owing to the presence of a larger patient pool and the growth in healthcare expenditure in this region. Japan is the largest contributor and China & India are the fastest growing countries towards the Asia-Pacific region in the global pain management drugs markets.
The major market players in the global pain management drugs market are Pfizer, Inc., Purdue Pharma L.P., Eli Lilly And Company, GlaxoSmithKline, and Johnson & Johnson.
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The report covers a comprehensive study of major market drivers, restrains, opportunities, challenges, PESTEL, Porters, SWOT, and technological forecasting in the market. The Scope of Global Pain Management Drugs Market: Global Pain Management Drugs Market, by Category: Prescription-Based Drugs Over-The-Counter (OTC) Drugs Global Pain Management Drugs Market, by Therapeutic Indications: Post-Operative Pain Low-Back Pain Rheumatoid Arthritis Pain Osteoarthritis Pain Cancer Pain Migraine Neuropathic Pain Fibromyalgia Others Global Pain Management Drugs Market, by Brands: Maxalt Zomig Qutenza Lidoderm Savella Imitrex Voltaren Gel Celebrex Cymbalta Others Global Pain Management Drugs Market, by Region: North America Europe Asia-Pacific South America Middle East & Africa Key Player Operating In the Global Pain Management Drugs Market: Pfizer, Inc. Purdue Pharma L.P. Eli Lilly And Company GlaxoSmithKline Johnson & Johnson Endo Pharmaceuticals Allergen Inc. Bayer AG Bristol-Myers Squibb Valeant Pharmaceuticals International Inc. Boehringer Ingelheim Sorrento Therapeutics WEX Pharmaceuticals Zynerba Pharmaceuticals GSK Grunenthal AstraZeneca Depomed Teva