The latest report by IMARC Group, titled “Pain Management Drugs Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-25”, finds that the global pain management drugs market growth reached US$ 41.2 Billion in 2019. Pain management drugs are a set of medications that are used for reducing or treating the pain associated with a disease, injury or surgery. These drugs provide relief by acting through distinctive physiological mechanisms. The management of pain remains of high relevance across a broad spectrum of medical fields as it is one of the most common concerns for physicians while dealing with severe medical conditions. Owing to this, pain management medicines have evolved into a large specialty area over the years.
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The increasing prevalence of chronic conditions, such as lower back pain, post-operative pain, osteoarthritis and migraine headache, is the primary factor for the increase in the sales of pain management drugs across the globe. Also, these painkillers help the rising number of cancer patients to minimize pain during chemotherapy, radiotherapy, and surgeries involved in the treatment. Apart from this, governments of various nations are also providing funds to improve healthcare services. This has led to several medical advancements, resulting in the introduction of novel molecule combinations and newer drug delivery techniques. Moreover, the leading pharmaceutical companies are heavily investing in research and development (R&D) activities to develop analgesics that are safer, more effective, economically viable and easier to administer. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2020-2025.
Market Breakup by Drug Class:
- Antimigraine Agents
On the basic of drug class, hold the largest antidepressants market share.
Market Breakup by Indication:
- Musculoskeletal Pain
- Surgical and Trauma Pain
- Cancer Pain
- Neuropathic Pain
- Migraine Pain
- Obstetrical Pain
- Fibromyalgia Pain
- Burn Pain
- Dental/Facial Pain
- Pediatric Pain
Market Breakup by Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region-wise, the market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The competitive landscape of the market has also been examined with some of the key players being:
- Abbott Laboratories Inc.
- Pfizer Inc.
- Eli Lilly & Company
- Endo International plc
- Hoffmann-La Roche AG
- Bausch Health Companies Inc.
- Merck & Co. Inc.
- Allergen Inc.
- Novartis International AG
- Johnson & Johnson Private Limited
- GlaxoSmithKline Plc
- Purdue Pharma L.P.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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