Non-opioid Pain Treatment Market Competitive Landscape Analysis With Forecast by 2027
Non-opioid Pain Treatment Market: Introduction
- Pain management is an important component of the medical care. Common types of chronic pain conditions are migraine, lower back pain, osteoarthritis, fibromyalgia, localized musculoskeletal pain, and localized neuropathic pain. While opioids may be appropriate for addressing acute or chronic pain relating to palliative or end-of-life care, and active cancer treatment, other non-opioid pain management options are available to treat chronic pain.
- Evidences show that non-opioid medications and non-pharmacologic interventions can be effective in treating common types of chronic pain and are considered safer than opioids
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Key Drivers and Restraints of Global Non-opioid Pain Treatment Market
- The global non-opioid pain treatment market is driven by increasing easy and effective medications of non-opioids drugs for pain treatment, and also their less side-effects and low cost for some treatments
- Opioids have several disadvantages, such as risk of nausea and vomiting, somnolence, androgen deficiency, respiratory depression, constipation, physical dependence, and tolerance. Opioid medications also carry a risk of abuse or addiction by either the patient or non-medical users. For these reasons, consideration of non-opioid strategies for pain management is beneficial. This is fueling the growth of the global non-opoid pain treatment market.
- Better healthcare facilities and availability of sophisticated and novel treatment options, and increasing research and developmental activities related to non-opoid treatment for pain relief are the major factors propelling the growth of the non-opoid pain treatment market
- Increasing geriatric population and rising prevalence of diseases, such as arthritis, cancer, epilepsy, dental disorders, etc., leading to chronic pain conditions, such as, migraine, lower back pain, osteoarthritis, fibromyalgia, localized musculoskeletal pain, and localized neuropathic pain, are fueling the growth of the global non-opioid pain treatment market
- Preference for alternative therapies and fake products, however, are anticipated to restrain the growth of the global non-opioid pain treatment market
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Strategies Adopted by Key Players to Offer Attractive Opportunities
- Companies operating in the global non-opioid pain treatment market focus on addressing the needs of the medical communities and patient population by developing effective and novel products. Leading players are engaging in strategies, such as acquisitions, mergers, and collaborations, along with research and developmental activities to strengthen their position in the global market.
- In June 2019, Ironwood Pharmaceuticals and Allergan initiated patient dosing in Phase II Clinical Trial of MD-7246 in patients with abdominal pain associated with IBS-D
- In January 2018, Centrexion Therapeutics raised US$ 67 million and launched Phase 3 program for CNTX-4975 in knee osteoarthritis pain. CNTX-4975, a synthetic, ultra-pure injection of trans-capsaicin for the treatment of chronic pain due to knee osteoarthritis. CNTX-4975 is a highly differentiated, novel, non-opioid therapy designed to be injected directly into the painful joint.
- In June 2018, Sandoz Canada announced that it had finalized its collaboration agreement with Tilray, a Health Canada licensed producer of medical cannabis, allowing Sandoz Canada to become the first Canadian pharmaceutical company to enter the medical cannabis field
- Emerging economies present lucrative opportunities in the non-opioid pain treatment market due to increase in patient population and rise in initiatives by governments in the health care sector
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North America to Account for Major Share of Global Non-opioid Pain Treatment Market
- North America is projected to capture leading share of the global non-opioid pain treatment market due to health awareness, rise in patient population, a well-established health care infrastructure, increasing research and developmental activities, and presence of key players in the region
- The non-opioid pain treatment market in Asia Pacific is expected to grow at a rapid pace during the forecast period due to rise in patient population, increase in initiatives by governments in the health care sector, surge in incidences of diseases, such as arthritis, cancer, dental disorders, etc., increase in geriatric population, and rise in interest of key players in expanding into the region
Key Players Operating in Global Non-opioid Pain Treatment Market
Leading players in the global non-opioid pain treatment market are focusing on research and development activities. Companies are adopting various growth strategies, including mergers, acquisitions, product upgrades, product launches & approvals, partnerships, and collaborations. Leading players operating in the global non-opioid pain treatment market are:
- Aphria Inc.
- Cara Therapeutics
- Centrexion Therapeutics
- Medical Marijuana, Inc.
- Medropharm GmbH
- Panag Pharma Inc.
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