DUBLIN–(BUSINESS WIRE)–The “Pain
Management Market – Growth, Trends, and Forecast (2019 – 2024)”
report has been added to ResearchAndMarkets.com’s
offering.
The growth of the global pain management drugs and devices market is
majorly due to the well-established business of painkiller medications
as the first line of treatment. In recent years, the increasing reliance
on their prolonged use and a greater understanding of their side-effects
have led to the growing use of device-based pain management therapies.
Presently, at the country level, economic factors play a significant
role in the management of financial implications for hospitals.
Postsurgical pain is one of the primary focuses of hospitals, where the
cost of monitoring and the treatment of adverse effects creates the
major demand for pain management drugs and devices.
The current market is gradually adopting more non-opioid medications to
suppress the addiction toward opioids and certain well-established
painkillers in the market. There are several non-opioid drugs with
mechanisms of action that are currently in early and late-stage
development. The federal authorities in multiple countries are shifting
to alternative approaches, and thus, fast-tracking those drugs to market
approval. The shift is expected to be gradual, and thus pain management
has very attractive growth prospects between 2019 and 2024.
Scope of the Report
This report includes an in-depth study of the global pain management
market (henceforth, referred to as the market studied). Pain is defined
as an unpleasant sensation in the body, owing to ongoing or impending
tissue damage. Pain management is one of the most frequently dealt-with
issues by clinicians for any disease. Pharmacological therapy is the
first line of therapy, followed by treatment via devices in severe pain
management cases.
Key Market Trends
Cancer Pain Segment is Expected to Exhibit the Fastest Growth Rate over
the Forecast Period
Pain during cancer occurs the most when a tumor presses on to the bones,
nerves, or organs. The pain may vary according to the affected location.
Chemotherapy, radiotherapy, and surgery can also cause pain. Certain
painful conditions are likely to occur more in patients with a
suppressed immune system, which is often a result of these therapies.
Pain caused by cancer can be treated. About nine out of ten cancer
patients suffering from pain find relief by using a combination of
medications. Many medicines are used for pain management in cancer
patients. Some drugs are general pain relievers, while other target
specific types of pain may require a prescription. The increasing
incidences of various forms of cancer are likely to directly lead to an
increase in cancer pain cases, the treatment of which, both through
drugs and devices, is expected to contribute to the market growth.
North America Captured the Largest Market Share and is Expected to
Retain its Dominance
North America holds the largest share in the global pain management
market, with the United States being the largest contributor to its
revenue. According to the data published by the Centers for Disease
Control and Prevention (CDC), in 2016, approximately 20.4% of adults in
the United States (which is about 50.0 million) were suffering from
chronic pain and 8.0% of adults in the country (which is about 19.6
million) were suffering from high-impact chronic pain, with higher
prevalence associated with advancing age. Overall, pain management in
the United States is considered to be the most developed in the world,
primarily due to the large presence of pain specialist physicians,
increasing number of approvals from FDA, and the robust infrastructure
for providing pain management services to patients.
Competitive Landscape
The global pain management market is highly competitive and consists of
several major players. The existing major players in the pain management
market employ strong competitive strategies, leading to high rivalry
among them. Some of the key players in the market are Abbott
Laboratories, Astra Zeneca, Baxter International Inc., Becton Dickinson
& Company, and Boston Scientific Company, among others. Product
advancements and improvement in durable medical equipment by the major
players are stiffening the competitive rivalry in the market.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Long-term Pain Management from the Geriatric
Population
4.2.2 High Proven Efficacy of Pain Management Devices for the Treatment
of Chronic Pain
4.2.3 Rise in Acute and Chronic Pain as a Result of Chronic Health
Conditions
4.2.4 Development of Novel Pain Management Devices
4.3 Market Restraints
4.3.1 Lack of Awareness about the Availability and Use of Pain
Management Devices
4.3.2 Shortage of Pain Specialists and the Low Number of Pain Clinics in
Several Countries
4.3.3 High Procedural and Purchase Cost of Pain Management Devices
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Mode of Pain Management
5.1.1 Drugs
5.1.1.1 Opioids
5.1.1.2 Non-narcotic Analgesics
5.1.1.2.1 NSAIDS
5.1.1.2.2 Anesthetics
5.1.1.2.3 Anticonvulsants
5.1.1.2.4 Anti-depressants
5.1.1.2.5 Other Non-narcotic Analgesics
5.1.2 Devices
5.1.2.1 Neurostimulation Devices
5.1.2.1.1 Transcutaneous Electrical Nerve Stimulation (TENS) Devices
5.1.2.1.2 Brain and Spinal Cord Stimulation (SCS) Devices
5.1.2.2 Analgesic Infusion Pumps
5.1.2.2.1 Intrathecal Infusion Pumps
5.1.2.2.2 External Infusion Pumps
5.2 By Application
5.2.1 Neuropathic Pain
5.2.2 Cancer Pain
5.2.3 Facial Pain and Migraine
5.2.4 Musculoskeletal Pain
5.2.5 Other Applications
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 AstraZeneca
6.1.3 Baxter International Inc.
6.1.4 Becton Dickinson & Company
6.1.5 Boston Scientific Corporation
6.1.6 Fresenius SE & Co. KGaA
6.1.7 GlaxoSmithKline PLC
6.1.8 Johnson & Johnson
6.1.9 Medtronic PLC
6.1.10 Novartis AG
6.1.11 Pfizer
6.1.12 Teva Pharmaceutical Industries Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/hmpjxd
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Related
Topics: Analgesics,
Palliative
Care