Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Medicated range of drugs products are widely used to manage pain from inflammation in response to physical causes of pain which are either tissue damage, nociceptive or neuropathic, chemical agents/pathogens. The assessment and management of pain has attracted a lot of attention from both health professionals and the public. Factor such as high prevalence of pain, continuing evidence that pain is undertreated, and a growing awareness of the adverse consequences of inadequately managed pain is driving the growth of pain management drugs market. Moreover, research suggests that drugs play a major role for reducing pain including drug like nsaids, anesthetics, anticonvulsants, anti-migraine agents, antidepressants, opioids, nonnarcotic analgesics. In addition changing lifestyle and diet, stress, chronic diseases are some of factor for the growth of pain management drugs market
The global pain management drugs market is anticipated to have growth at the highest rate during the forecast period. The key factor driving the growth of market is growing geriatric population and disease associated with age. Beside rise in number of surgical procedures for cancer and other diseases is expected to further fuel the demand for pain management drugs market. Moreover rise in healthcare expenditure and pharmacies facilities has positively contributed to growth of pain management drugs market.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the pain management drugs market. In addition, complete analysis of changes on the pain management drugs market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the pain management drugs market was moderate as many hospital were focused on giving treatment of COVID-19 virus thereby there was decreasing demand for pain management drugs which has hampered the growth of pain management drugs market
The pain management drugs market is segmented based on by drug class, by indication, by pain type, by distribution channel and geography
The pain management drugs are majorly found in different drug class including nsaids, anesthetics, anticonvulsants, anti-migraine agents, antidepressants, opioids, nonnarcotic analgesics
Opioids is the major contributor in the global pain management drugs market due to its powerful pain-reducing medications that include oxycodone, hydrocodone, and morphine, among others. These opioids are used to treat moderate to severe pain in patients. However, anesthetics is expected to witness the growth at highest pace during forecast period.
The pain management drugs are identify by various indication like arthritic pain, neuropathic pain, cancer pain, chronic back pain, postoperative pain, migraine, fibromyalgia, muscle sprain/strain, bone fracture, acute appendicitis
Neuropathic pain holds significant market share in the global pain management drugs attributing to research which is majorly focused on understanding the malleable changes in the nervous system after nerve injury, identifying novel therapeutic targets and drugs. Besides growing number of patient population is the key factor for increases in demand for drugs. Also, cancer pain followed by chronic back pain is expected to witness the highest growth due to increasing number of surgeries and rising prevalence of chronic diseases that lead to back pain.
The pain management drugs are based on pain type like chronic pain, acute pain
Chronic pain has gain the major market as the pain persists or recurs for longer than 3 months and is associated with significant inflammation or dysfunctional nerves. This type of pain continue even after the injury or illness is healed or gone away therefore is expected to have growth at a significant rate during the forecast period.
The pain management drugs has its major distribution through following channel like hospital pharmacies, retail pharmacies, online pharmacies
Hospital pharmacies followed by retail pharmacies is expected to lead in market during the forecast period. Moreover, increasing sale and rising patient inflows for pain management drugs in hospitals is further boosting the growth of market through this distribution channel
Geographically the global pain management drugs market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW)
North America is expected to lead in global pain management drugs market attributing to increasing geriatric population. Besides increasing economies of countries like United States and Canada will drive the growth in the region. In addition government initiative and support to reduce the use of opioid medication for pain medication has driven the search for non-opioid drugs for handling pain, further fueling the demand for R&D for the pain management drug industry. Whereas Asia Pacific is expected to witness the growth at highest pace during forecast period due increasing healthcare expenditure and growing patient inflow for pain management drugs which is expected to propel the demand for pain management drugs market
The key players in pain management drugs market are Endo Health Solutions, Inc, Johnson & Johnson, Merck & Co. Inc., Mylan NV., Purdue Pharma L.P., Abbott Laboratories, Eli Lilly & Company, GlaxoSmithKline Plc, Novartis AG, Pfizer, Inc., Zynerba Pharmaceuticals., Allergen Inc., Bayer AG, Boehringer Ingelheim, Bristol-Myers Squibb, Sorrento Therapeutics, Valeant Pharmaceuticals International Inc. and WEX Pharmaceuticals among others.
February 2020: Baudax Bio’s had got the FDA approval for meloxicam injection (Anjeso) for the management of moderate to severe pain, alone or in combination with other non-NSAID analgesics. The new drug is a nonopioid therapeutic option for patients experiencing moderate to severe pain.
The report analyses the global pain management drugs market based on by drug class, by indication, by pain type, by distribution channel and geography. The pain management drugs are majorly found in different drug class including nsaids, anesthetics, anticonvulsants, anti-migraine agents, antidepressants, opioids, nonnarcotic analgesics. The pain management drugs are identify by various indication like arthritic pain, neuropathic pain, cancer pain, chronic back pain, postoperative pain, migraine, fibromyalgia, muscle sprain/strain, bone fracture, acute appendicitis. The pain management drugs are based on pain type like chronic pain, acute pain. The pain management drugs has its major distribution through following channel like hospital pharmacies, retail pharmacies, online pharmacies. Geographically the global pain management drugs market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW)
The key players in pain management drugs market are Endo Health Solutions, Inc, Johnson & Johnson, Merck & Co. Inc., Mylan NV., Purdue Pharma L.P., Abbott Laboratories, Eli Lilly & Company, GlaxoSmithKline Plc, Novartis AG, Pfizer, Inc., Zynerba Pharmaceuticals., Allergen Inc., Bayer AG, Boehringer Ingelheim, Bristol-Myers Squibb, Sorrento Therapeutics, Valeant Pharmaceuticals International Inc. and WEX Pharmaceuticals among others.
Why to buy this report:
