Pain relief medicine is a branch of medicine that employs an interdisciplinary approach for easing the suffering and improving the quality of life of those living with acute as well as chronic pain.
According to MRFR analysis, Pain Relief Medication Market is expected to register a CAGR of 4.73% during the forecast period of 2019 to 2025 and held a value of USD 55,275 million in 2018.
The growth of the global pain relief medication market is driven by several factors such as increasing patient population suffering from chronic pain and cancer pain, increasing research in the pain management field, and rising product launch in the pain relief medication market. However, the stringent regulations and high cost of drugs are likely to hamper the growth of the global pain relief medication market.
Several market players currently dominate the global pain relief medication market. The key players are involved in product launches and strategic collaborations to strengthen their market positions. For instance, in July 2018, AbbVie received approval for Orilissa (elagolix) from the US Food and Drug Administration (FDA) for the management of moderate to severe pain associated with endometriosis.
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Some of the key players in the global pain relief medication market are AbbVie Inc. (US), Allergan plc (Ireland), Astellas Pharma Inc. (Japan), Bayer (Germany), Biogen Idec (US), Boehringer Ingelheim International GmbH (Germany), Bristol-Myers Squibb (US), Eli Lilly and Company (US), GlaxoSmithKline (UK), Mallinckrodt Pharmaceuticals (UK), Pfizer, Inc. (US), Purdue Pharma (US), Sanofi (France), and Teva Pharmaceutical Industries Ltd (Israel).
The global pain relief medication market has been segmented based on
- Drug class
- Indication
- Distribution channel
Regional Analysis
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East Africa. The Americas are expected to be the largest market owing to the rise in chronic diseases in this region. In Brazil, chronic pain is a widespread clinical condition, affecting between 28% and 41% of the Brazilian population. The pain relief medication market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European pain relief medication market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The pain relief medication market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the rise in initiatives by public and private organizations, the market in Asia-Pacific is expected to be the fastest-growing. The pain relief medication market in the Middle East Africa has been divided into the Middle East and Africa.
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Table Of Contents
- EXECUTIVE SUMMARY
1.1. Market Attractiveness Analysis
1.1.1. Global Pain Relief Medication Market, By Drug Class
1.1.2. Global Pain Relief Medication Market, By Indication
1.1.3. Global Pain Relief Medication Market, By Distribution Channel
- MARKET INTRODUCTION
2.1. Definition
2.2. Scope Of The Study
2.2.1. Research Objective
2.2.2. Assumptions
2.2.3. Limitations
- RESEARCH METHODOLOGY
3.1. Overview
3.2. Data Mining
3.3. Secondary Research
3.4. Primary Research
3.5. Breakdown Of Primary Respondents
3.6. Forecasting Techniques
3.7. Research Methodology For Market Size Estimation
3.7.1. Bottom-Up Approach
3.7.2. Top-Down Approach
3.8. Data Triangulation
3.9. Validation
- MARKET DYNAMICS
4.1. Overview
4.2. Drivers
4.3. Restraints
4.4. Opportunities
TOC Continued...
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