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The global pain management drugs market reached a value of around US$ 74 Billion in 2020.
The market for pain management drugs is experiencing a negative growth on account of the outbreak of COVID-19 as several outpatient and elective interventional procedures across healthcare facilities are reduced or interrupted to reduce the risk of disease transmission. Also, the disruptive supply chains of pharmaceutical products is also hampering the market growth.
The pain management drugs market is expected to grow at a CAGR of 3.1% during 2021-2026.
The rising geriatric population who are more prone chronic pain is augmenting the demand for pain management drugs across the globe.
Several medical advancements have led to the introduction of novel combinations and newer drug delivery techniques for providing improved pain management, which are among the key trends in the pain management drugs market.
Based on the drug class, the market has been bifurcated into non-steroidal anti-inflammatory drugs (NSAIDs), anesthetics, anticonvulsants, antimigraine agents, antidepressants, opioids, and others. In this segment, opioids dominate the global market.
Based on the indication, the market has been bifurcated into musculoskeletal pain, surgical and trauma pain, cancer pain, neuropathic pain, migraine pain, obstetrical pain, fibromyalgia pain, burn pain, dental/facial pain, pediatric pain, and others. In this segment, musculoskeletal pain accounts for the largest market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America holds the largest market share.
Based on the distribution channel, the market has been segregated into hospitals, retail, and online pharmacies.
Leading pain management drugs manufacturers are Abbott Laboratories, Inc., Pfizer, Inc., Eli Lilly & Company, Endo International plc, F. Hoffmann-La Roche AG, Bausch Health Companies, Inc., Merck & Co. Inc., Allergen Inc., Novartis International AG, Johnson & Johnson Private Limited, GlaxoSmithKline Plc and Purdue Pharma L.P.
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