Pune, India -- (SBWire) -- 05/09/2019 --The latest report on Pain Management Therapeutics Market by Infinium Global Research gives complete coverage of the pain management therapeutics market by indication (chronic back, neuropathic, fibromyalgia, arthritic, cancer, post-operative pain, migraine), therapeutics (anesthetics, antidepressants, anticonvulsants, opioids), distribution channel (online, hospitals, retail pharmacy) in terms of key trends, market size, forecast. In addition, the study covers deep dive into key product and applications trends in the regional markets of pain management therapeutics such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global pain management therapeutics market is projected to grow at a CAGR of 4.5% over the forecast period of 2018-2024.

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Pain Management Therapeutics Market: Industry Insights

A medical approach for easing suffering and improving from acute as well as chronic pain is known as pain management. The process that provides medical care that reduces pain or alleviates. Pain management includes a group of physician assistants, clinical psychologists, medical practitioners, occupational therapists, nurses, and pharmacists. Pain management programs such as physical therapy, massage therapy, pain-relieving medications, and epidural steroid injections, among others to treat back pain.

Pain Management Therapeutics Market: Drivers and Restraints

An increasing number of patients for cancer and chronic disorders globally which tends to drive the pain management therapeutics market. Growing awareness among society for health is also a factor for the rising in the market. Government taking initiative for the medical and health concerns in the society and making them aware through medical check-ups and campaigns. Side effects due to drugs addiction from medicines are hindering the pain management therapeutics market. Advancement in the drug delivery system is the opportunity for the pain management therapeutics market. Research and development activities in the healthcare and medical industry are a growth opportunity for the market.

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Pain Management Therapeutics Market: Segmentation

Global pain management therapeutics market is segmented on the basis of indication, therapeutics, and distribution channel. Indication types are further segmented into Chronic Back Pain, Neuropathic Pain, Fibromyalgia, Arthritic Pain, Cancer Pain, Post-operative Pain, Migraine and Others in which Cancer pain holds highest market share in the global Pain Management Therapeutics market because of a large number of the patient suffering from cancer so growing awareness among the society. Therapeutics type is bifurcated into Anesthetics, Antidepressants, Anticonvulsants, Non-steroidal Anti-inflammatory Drugs (NSAIDS), Anti-migraine Agents, Opioids, Non-narcotic Analgesics, and Others. Non-steroidal Anti-inflammatory Drugs (NSAIDS) is dominant in the therapeutic type because of the easy availability of drugs such as aspirin and diclofenac in the market. The distribution channel is segmented into Online Pharmacy, Hospitals Pharmacy, and Retail Pharmacy. Online pharmacy is expected to grow with the highest CAGR in the coming years because of the surging trend for online purchasing.

Pain Management Therapeutics Market: Regional Insights

Global pain management therapeutics market is segmented regionally into North America, Europe, Asia-Pacific and Rest of World (RoW). North America is dominant in the global pain management therapeutics Market because of technological advancement in the healthcare industry and an increasing number of geriatric populations. In North America, the U.S. dominates the market followed by Canada and Mexico. Asia-Pacific is expected to grow with the highest CAGR during 2018-2025, as the government taking initiative in healthcare among the society and growing investment in the healthcare industry which are major factors for growing the Asia-Pacific region in the coming years.

Pain Management Therapeutics Market: Competitive Analysis

The global pain management therapeutics market comprises with the major players, Abbott Laboratories, Eli Lilly and Company, Pfizer, Inc., Johnson & Johnson Services, Inc., Novartis AG, Merck & Co., Inc., AstraZeneca, Endo Pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd, and Mallinckrodt Pharmaceuticals company. Product innovation and acquisitions & mergers are the key parameters to remain competitive and to gain greater market share.

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Report Findings

1. Drivers

- The Growing Number of People Suffering from Chronic Disease.

- Increase the Incidence of Accidental and Sports Injuries.

- Growing Geriatric Population.

2. Restraints

- Low Adoption in the Emerging Market.

3. Opportunities

- Ongoing Research and Development in the Pain Therapeutics.