Asia Pacific Pain Management Therapeutics Market : Introduction
Pain is typically described as a distressing sensory and emotional experience that primarily originates from disease or tissue damage.
Numerous diseases, such as osteoarthritis, cancer, multiple sclerosis, stomach ulcers, diabetic neuropathy, fibromyalgia, and chronic arthritis, can result in discomfort.
Acute pain with a short-term goal and chronic pain with a long-term goal are two different types of pain that can last. Injuries, nerve damage, and aging-related bone and joint disorders are the main causes of persistent pain.
Potential tissue damage is the major cause of pain, which creates an excruciating sensory and emotional experience. Pharmaceuticals from many therapeutic classes, such as antidepressants, opioids, NSAIDs, anticonvulsants, anaesthetics, and other non-narcotic analgesics, are used as the first line of treatment for pain management.
In addition, several medications are used to treat pain, which typically develops as an inflammatory reaction to tissue injury, chemical agents or pathogens, or even nerve damage.
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.
Asia Pacific Pain Management Therapeutics Market- Key Market Trends
• Rising adoption of opioids in the market
One of the major factor that has fuelled the market growth over the forecast period is the rising adoption of opioids in the market. The companies have started replacing for the use of opioids that has boosted the market growth.
• Approval, as well as the launch of new therapeutics, have boosted the market
Another factor that has boosted the market growth over the forecast period is the approval as well as the launch of new therapeutics in the market. These have resulted in the use for adults in certified medically supervised healthcare settings for the management of acute pain severe enough to require an opioid analgesic.
Additionally, rising prevalence of arthritis is also projected to aid the market growth over the forecast period. Such as, an estimated 54.4 million US adults have diagnosed arthritis that have accounted for around 1 in 4 people in the U.S., according to the Centres for Disease Control and Prevention (CDC)’s May 2019 report.
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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:
· Neuropathic Pain
· Chronic Back Pain
· Arthritic Pain
· Post-operative Pain
· Cancer Pain
By Distribution Channel:
· Online Pharmacy
· Retail Pharmacy
· Hospital Pharmacy
By Geographical Landscape:
· North America
· 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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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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