LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global pain management drugs market to grow at a CAGR of nearly 4% during the forecast period, according to their latest market research report.
Novel drug delivery systems and novel targets for pain management is one of the major trends being witnessed in the global pain management drugs market 2018-2022. New drug delivery systems are supporting the rate-controlled and target-specific methods over conventional routes and are expected to lead to further advancements in pain management treatment options. New opioid delivery techniques comprises of intravenous infusions, patient-controlled dispensing systems, time-release transdermal skin patches, oral transmucosal preparations nasal sprays and inhaled aerosols, as well as intrathecal and epidural delivery.
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According to Technavio analysts, one of the key factors contributing to the growth of the global pain management drugs market is the strong pipeline and recently approved pain management drugs:
Global pain management drugs market: Strong pipeline and recently approved pain management drugs
During the forecast period, most of the therapeutics that are in the last stage of development are expected to get marketing approval. Pipelines for most common pain conditions are chronic pain, post-operative pain, acute pain, low back pain, osteoarthritis, migraine headache, and others. Pain management pipelines have different studies for testing newer targeted drugs for chronic pain. The extensive variety of drugs in the development phase includes braclykinin antagonists, opioid receptor ligands, microsomal prostaglandin E synthase-1 (mPGES-1), substance P and neurokinin receptor antagonists, glutamate receptor antagonists, ATP-gated ionotropic P2X2 receptors antagonists, nitric oxide-based analgesics, and norepinephrine transporter inhibitors.
According to a senior analyst at Technavio for research on central nervous system, “The launch of monoclonal antibodies such as nerve growth factor, calcitonin gene-related peptide, and interleukin 6 inhibitors, and novel abuse-deterrent opioids will drive the growth of the global pain management drugs market during the forecast period.”
Global pain management drugs market: Segmentation analysis
The global pain management drugs market research report provides market segmentation by product (opioids, NSAIDs, and others), by pain types (nociceptive pain, neuropathic pain, and psychogenic pain), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The opioids segment held the largest market share in 2017, accounting for 41% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 and the region is expected to dominate the market through 2022, with nearly 2% increase in its market share.
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Five Forces Analysis
- Regional comparison
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- Vendors covered
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- Competitive scenario
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