The latest report by IMARC Group, titled “Pain Management Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global pain management drugs market size reached US$ 38.9 Billion in 2018. Pain management drugs are a set of medications that are used for reducing or treating the pain associated with a disease, injury or surgery. These drugs provide relief by acting through distinctive physiological mechanisms. The management of pain remains of high relevance across a broad spectrum of medical fields as it is one of the most common concerns for physicians while dealing with severe medical conditions. Owing to this, pain management medicines have evolved into a large specialty area over the years.
Global Pain Management Drugs Market Trends:
The increasing prevalence of chronic conditions, such as lower back pain, post-operative pain, osteoarthritis and migraine headache, is the primary factor for the increase in the sales of pain management drugs across the globe. Also, these painkillers help the rising number of cancer patients to minimize pain during chemotherapy, radiotherapy, and surgeries involved in the treatment. Apart from this, governments of various nations are also providing funds to improve healthcare services. This has led to several medical advancements, resulting in the introduction of novel molecule combinations and newer drug delivery techniques. Moreover, the leading pharmaceutical companies are heavily investing in research and development (R&D) activities to develop analgesics that are safer, more effective, economically viable and easier to administer. Looking forward, the market value is projected to reach US$ 52.1 Billion by 2024, expanding at a CAGR of 5% during 2019-2024.
Market Summary:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US
IMARC Group
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800 | https://www.imarcgroup.com
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-702-409-7331 )
( India: +91-120-433-0800 )
Drop us an email at
sales@imarcgroup.com