Global Pain Management Therapeutics Market
Overview
Pain is the consequence of potential tissue harm, which prompts a horrendous, tangible, and passionate experience. The main line of treatment in agony ordinarily incorporates the use of drugs from various restorative classes, for example, antidepressants, narcotics, NSAIDs, anticonvulsants, sedatives, and other non-opiate analgesics.
The global pain management therapeutics market had a valuation of US$ 75,976.0 million in 2021 and is anticipated to grow at a CAGR of 3.6% over the estimated timeframe (2021-2028).
๐๐จ ๐ ๐๐ญ ๐๐จ๐ซ๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐๐ฌ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ @ https://www.coherentmarketinsights.com/insight/request-sample/4626
Ongoing Developments
Organizations are distributing studies on elective torment therapeutics to supplant the utilization of narcotics, which can be credited with driving the global pain management therapeutics market development. In July 2021, Heron Therapeutics, Inc., a business-stage biotechnology organization, distributed a new investigation assessing the adequacy and security of ZYNRELEF. It is a drawn out discharge arrangement of bupivacaine and meloxicam to deliver postsurgical absence of pain for as long as 72 hours after bunionectomy.
Likewise, organizations are growing new contenders to torment the executives, which is further supporting the market’s development. In July 2021, Sorrento Therapeutics reported U.S. FDA endorsement for Phase 2 testing of its aggravation of the executive competitor resiniferatoxin (RTX), which is utilized for moderate to severe osteoarthritis.
In addition, the rising number of patients requiring medical procedures such as muscular, injury, and general medical procedures is developing, which helps in supporting the global pain management therapeutics market development through the forecasted timeframe. According to the Australian Institute of Health and Welfare, confirmations from public emergency clinic elective medical procedure holding up records increased by an average of 2.1% each year in 2018-19, compared to 2014-15.
As a result, North America stood firm on prevailing footing in the global pain management therapeutics market in 2020, representing 32.40% of the offer as far as volume, trailed by Europe and Asia Pacific, individually. Organizations working in North America are broadly occupied with R&D exercises for developing new agony for executives’ drugs, which can be credited to the prevailing place of the locale on the lookout. In January 2021, Concentric Analgesics, Inc., a clinical-stage biopharmaceutical organization, finished Phase 2 clinical preliminary of vocacapsaicin (CA-008), a first-in-class, non-narcotic remedial with FDA Breakthrough Therapy Designation.
Drivers
Endorsement and launch of new therapeutics are projected to drive development of the global pain management therapeutics market over the estimated timeframe. In November 2018, AcelRx Pharmaceuticals, Inc. received endorsement for DSUVIA for use in grown-ups in ensured medicinally regulated medical service settings for the administration of intense torment adequately serious to require a narcotic pain reliever from the U.S. FDA.
Besides, the expanding pervasiveness of joint pain is likewise expected to help with the development of the global pain management therapeutics market. As per the Centers for Disease Control and Prevention (CDC’s) May 2019 report, an expected 54.4 million US grown-ups have analyzed joint inflammation, which represents around 1 in every 4 individuals in the U.S.
Opportunities
Research and development of options for narcotics is projected to offer rewarding learning experiences for players in the global pain management therapeutics market. In June 2020, researchers at The University of Texas at Tyler, Texas, announced that they were testing the antinociceptive effects of 3-(2-chlorophenyl)-5-(5-methyl-1-(piperidin-4-yl)-1H-pyrazol-4-yl) isoxazole, a clever positive allosteric modulator with particular selectivity to the low agonist awareness (4)3(2)2 neuronal nicotinic acetylcholine
Besides, the utilization of VR in tormenting executives is additionally expected to help with the development of the global pain management therapeutics market. HTC Corporation’s HTC VIVE, a VR framework, is under clinical preliminary for surveying the impact of computer-generated reality innovation on diminishing the intense torment of scar therapy with fragmentary laser under nearby sedation. The review is anticipated to be finished in December 2020.
Market Trends
Key parts of the global pain management therapeutics market are centered on the endorsement and launch of new items to extend their item portfolio. In December 2019, Averitas Pharma, Inc., an auxiliary of GRT US Holding, Inc., declared that the U.S. Food and Drug Administration (FDA) put forth an objective date under the Prescription Drug User Fee Act (PDUFA) of July 19, 2020 for QUTENZA for the treatment of neuropathic torment related to diabetic fringe neuropathy.
A few market participants have faced narcotic emergency claims. In March 2019, Purdue Pharma reached a US$ 270 million settlement in a claim that asserted its narcotics contributed to the deaths of thousands of individuals.
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Key Takeaways
Among the pain types, the intense maintained its dominant position on the lookout, accounting for 54.5% of the global pain management therapeutics market in 2020.The section is foreseen to reach US$ 52,887.86 million in 2028.
The fragment development can be attributed to the worldwide medical services association’s requirement for new rules for effective administration of intense agony. In November 2020, the American Academy of Family Physicians (AAFP) and the American College of Physicians (ACP) reexamined the rules for the management of intense torment of the non-low back and other outer muscle wounds in grown-ups in the short term setting. The rules covered a few proposals, like the utilization of skin non-steroidal mitigating drugs (NSAIDs) as first-line treatment and the contingent utilization of narcotics.
The extension of the item portfolio through business advancement techniques such as obtaining, arranging, and coordinated effort is foreseen to drive the development of constant fragments through the figure time frame. In January 2021, Eli Lilly and Company reported securing concurrence with Asahi Kasei Pharma Corporation for AK1780. AK1780 is an orally bioavailable P2X7 receptor antagonist that has completed stage 1 and is used to treat patients with chronic pain conditions.
Limitations
Professionally prescribed chronic drug use is foreseen to impede the development of the global pain management therapeutics market. As indicated by the review, “The Future of Fentanyl and Other Synthetic Opioids,” distributed by RAND Corporation in 2019, the quantity of fatalities, including manufactured narcotics, expanded from 3,000 in 2013 to more than 30,000 in 2018, in the U.S.
In addition, torment backing bunches losing power, impact, and financing is likewise expected to restrict the global pain management therapeutics market’s development. Due to misfortune in financing from the government as well as backers, which included drug associations, the executives are losing the power and impact that they had at first.
Key Developments
Key parts of the global pain management therapeutics market are centered on the endorsement and launch of new items to grow their item portfolio. In November 2019, Q Biomed Inc. declared the U.S. FDA endorsement of its agreement with producer IsoTherapeutics Group LLC (ITG) to fabricate the organization’s Strontium-89 Chloride USP, a non-narcotic radiopharmaceutical demonstrated for the therapy of difficult skeletal metastases brought about by malignant growth.
Key players in the global pain management therapeutics market are also focusing on M&A strategies to expand their product portfolio. Harvest One Cannabis Inc. acquired Delivra Corp. in July 2019, a specialty biotechnology organization that manufactures and sells transdermal conveyance framework stages for nerve torment, varicose veins, and other conditions.
Competitive Landscape
Key companies contributing to the global pain management therapeutics market include Allergan, Inc., Durect Corporation, Abbott Laboratories, Teva Pharmaceuticals, Inc., Johnson & Johnson, McKesson Corporation, Cardinal Health, Merck & Co., Inc., Hospira, Inc., GlaxoSmithKline PLC, Forest Laboratories, Inc., Endo Health Solutions, Eli Lilly and Company, and Covidien PLC.
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Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Pain Type
- Market Snippet, By Drug Class
- Market Snippet, By Indication
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Highlights
- Product launch
- Regulatory Scenario
- PEST Analysis
- Mergers and Acquisitions
- Market Dynamics
- Global Pain Management Therapeutics Market, By Pain Type, 2020 โ 2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 โ 2028
- Segment Trends
- Chronic
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Acute
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Introduction
- Global Pain Management Therapeutics Market, By Drug Class, 2020 โ 2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 โ 2028
- Segment Trends
- NSAIDS
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Anesthetics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Anticonvulsant
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Anti-migraine Drugs
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Antidepressant Drugs
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Opioids
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Non-narcotics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Analgesics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Introduction
- Global Pain Management Therapeutics Market, Byย Indication, 2020 โ 2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 โ 2028
- Segment Trends
- Arthritic Pain
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Neuropathic Pain
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Cancer Pain
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Chronic Pain
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Post-operative Pain
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Migraine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Fibromyalgia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Bone Fracture
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Muscle Sprain/Strain
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Acute Appendicitis
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 โ 2028, (US$ Million)
- Introduction
View Press Release: https://www.coherentmarketinsights.com/press-release/pain-management-therapeutics-market-3878
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