Asia Pacific Pain Management Therapeutics Market : Introduction
Pain is the unwanted and unpleasant disturbing sensory resulting from diseases or tissue damage. Additionally, the different bodily disorders can cause discomforts, such as chronic arthritis, stomach ulcer, multiple sclerosis, diabetic neuropathy, fibromyalgia, cancer and osteoarthritis.
The duration of the pain ranges from acute pain for a short period of time and chronic pain for a long period of time. Acute pain may be mild and may last only for a few days or a few months. The reason behind having chronic pain is nerve-damaged, aged bones, injury or joint conditions.
A variety of drugs are used for pain management caused due to inflammation caused owing to tissue damage or nerve damage.
Global Asia Pacific Pain Management Therapeutics Market Forecast:
This Market is valued at USD 78,711.14 million in 2022 and is projected to reach a value of USD 1,04,451.39 million in 2030 expanding at a CAGR of 3.6% over the forecast period of 2022-2030.
Global Asia Pacific Pain Management Therapeutics Market :Overview:
In 2018, as per the data published by the National Center for Complementary and Integrative Health, more than 20% of the adult population was suffering from chronic pain, and approximately 8% of the adult population had severe chronic pain in the United States.
As per multiple research reports and studies, it has been demonstrated that females are more vulnerable to pain than males. In the USA, almost 27% of the women population has been suffering from pain, and 24% of the men population has been suffering from pain. The doctor recommends pain killers or steroids to the patients in most cases. The doctor may prescribe anti-inflammatory drugs (Non-Steroidal) if the pain is moderate in the initial phase. The prescription drugs given by the doctor are simple to use and cost-effective when administered in the initial phase.
Increasing awareness about the accessibility of medication for pain management has been accelerating the market for the reception and consumption of pain management medication over other therapy. Therefore, easy access, quick action, high awareness and cost-effectiveness have made the pain management medication system more preferred over other therapy options.
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Global Asia Pacific Pain Management Therapeutics Market: Market Dynamics
Rising Geriatric Population to Fuel the Market Growth:
As the population of the Asia Pacific region is increasing, therefore there is an immense rise in the geriatric population in the region. As aged people are more prone to pain, diseases and other chronic conditions, the market for pain management and Therapeutics has been showing significant growth.
Additionally, the rise in the prevalence of chronic diseases such as cancer, osteoarthritis, diabetic neuropathy and other chronic disease fuelling the market growth. Also, an upsurge in the number of surgical procedures and an increase in healthcare expenditure aid the growth of the pain management therapeutics market in the Asia Pacific region.
Easy Availability of NSAIDs Drugs Aids to Boost the Market Progression:
NSAID drug has dominated the market and accounted for the major market share of the Asia Pacific- Pain Management Therapeutics Market in 2020.
The Non-Steroidal Anti-inflammatory drug (NSAID) is easily available over the counter, and these drugs are easily available and cost-effective. Besides, they are capable of giving quick relief from the pain. These factors are accelerating the demand for Non-Steroidal anti-inflammatory drugs (NSAIDs).
The Key Market Segmentation
This Research Report Categorized The ASIA PACIFIC – Global Pain Management Therapeutics Market Based on Drug Class, Indication, Distribution Channel and Geographical Landscape.
By Drug Class:
- NSAIDs
- Opioids
- Anesthetics
- Antidepressants
- Anticonvulsants
- Others
By Indication:
- Neuropathic Pain
- Fibromyalgia
- Chronic Back Pain
- Arthritic Pain
- Migraine
- Post-operative Pain
- Cancer Pain
By Distribution Channel:
- Online Pharmacy
- Retail Pharmacy
- Hospital Pharmacy
By Geographical Landscape:
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Major Key Players
- Pfizer Inc.
- Novartis AG
- Sanofi S.A
- Teva Pharmaceutical Industries Ltd
- Merck & Co. Inc.
- Baxter International Inc.
- WEX Pharmaceuticals
- Abbott Laboratories
- Zynerba Pharmaceuticals
- Boehringer Ingelheim
- GlaxoSmithKline plc
- Sorrento Therapeutics
- Johnson & Johnson Services Inc.
- Purdue Pharma L.P.
- Bristol-Myers Squibb Company
- Endo Health Solutions Inc.
- Eli Lilly and Company
- Valeant Pharmaceuticals International Inc.
- Allergen Inc.
- Mylan NV
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Frequently Asked Questions
- What is the growth rate projection of this Market?
- What are the major growth determinants of this Market?
- What are the major segments constituting this Market?
- Which is the fastest growing region in this Market?
- Which are the top companies operating in the Asia Pacific Pain Management Therapeutics Market?
The COVID-19 Impact Analysis:
COVID-19 pandemic drastically affected the entire world, and this pandemic disrupted the growth of the many economies across the various sectors. The COVID-19 pandemic also negatively impacted the pain management Therapeutic Market in the initial phase in the Asia Pacific.
The COVID-19 pandemic put immense pressure on the global healthcare industry. Amid Covid-19, many pain management clinics were closed due to safety regulations imposed by the government. Therefore, many chronic pain management facilities are considered non-urgent and thus kept closed during the covid-19 lockdown.
Post pandemic, there has been a surge in health awareness among the people. The government lifted the lockdown and softened the pandemic rules, resulting in immense growth in the Asia Pacific-Global Pain Management Therapeutics market.
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