Pain treatment and drug options available for the general population include medication, therapeutics, and mind-body techniques.
Pain treatment and drug options available for the general population include medication, therapeutics, and mind-body techniques. The number of patients suffering from chronic pain is rising at a substantially high pace globally each year. According to the World Health Organization (WHO), approximately 176 million people were suffering from chronic pain in 2016 in the U.S. alone, and around 1 in 5 individuals in Europe suffer from chronic pain at some point of the year.
The global geriatric population has been increasing significantly over the past decade and is a key driver for growth of the global pain management therapeutics market. In addition, early onset of aging is another factor driving demand for pain management therapeutics and treatments. Increasing age-related diseases such as diabetic neuropathy, nerve damage, depression, epilepsy, bone or joint pain, and injuries etc. has been witnessing a significant increase in the recent past. Moreover, rising number of patients suffering from chronic diseases and growing adoption of pain management therapeutics is further driving growth of the global pain management therapeutics market at an exponential rate.
However, patent expiry on major pain management drugs is a key factor restraining growth of the global pain management therapeutics market. In addition, availability of generic pain management drugs is another major factor expected to hamper growth of the global pain management therapeutics market.
The global pain management therapeutics market report has been segmented on the basis of therapeutics, indication, and region. On the basis of therapeutics, the global pain management therapeutics market is segmented into Anticonvulsants, Antidepressants, Anaesthetics, Non-steroidal Anti-inflammatory Drugs (NSAIDS), Opioids, Antimigraine agents and, Other Non-Narcotic Analgesic. On the basis of indication, Neuropathic Pain, Fibromyalgia, Chronic Back Pain, Arthritic Pain, Migraine, Post-operative Pain and, Cancer Pain. On the basis of region, the report is segmented as North America, Europe, Asia Pacific, and Middle East & Africa.
North America dominated the global pain management therapeutics market in terms of revenue share, owing to presence of appropriate healthcare infrastructure and extensive consumption of high-end pain management drugs. Europe accounted for the second largest share of the global pain management therapeutics market in terms of revenue share, due to increasing use of pain management drugs by the general population followed by Asia Pacific.
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Some prominent players in the market include, Abbott Laboratories, AstraZeneca, Depomed Inc., Endo Pharmaceuticals, Inc., GlaxoSmithKline plc, Johnson & Johnson, Mallinckrodt Pharmaceuticals, Merck & Co., Inc., Novartis AG, Pfizer, Inc., Purdue Pharma L.P., and, Teva Pharmaceutical Industries Limited.