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Global Pain Management Therapeutics Market Is Likely To Grow Due To Growing Geriatric Population Globally

Pain is a disturbing emotional sensation that arises due to a health disorder or tissue damage. The pain lead to the discomforts like cancer, diabetic neuropathy, fibromyalgia, chronic arthritis, stomach ulcer, osteoarthritis, and several others. The length of pain can range from long term to short term. However, many therapeutic drugs are innovated to manage pain-causing due to inflammation in response to tissue damage, nerve damage, and chemical pathogens. Most of the drugs work by tieing to the protein target on cell membranes and changing the biochemical processes of the body.

The growing geriatric population all around the globe is one of the major factors driving the growth of the global pain management therapeutics market. Aged people are more likely to suffer from joint pain and other chronic disorders. However, the high prevalence of chronic diseases like osteoarthritis, diabetic neuropathy, and cancer will further propel the growth of the market. The surgical procedures are at brim globally, which in turn is also raising the healthcare expenditure and the growth of the pain management therapeutic drugs. Also, the growing awareness among people regarding the availability of pain management therapeutic drugs for self-treating several common health problems will also fuel demand.

The global pain management therapeutics market can be segmented into paint type, indication, drug class, and region.

By paint type, the market can be segmented into acute and chronic pain.

By indication, the market can be segmented into acute appendicitis, bone fracture, muscle pain, fibromyalgia, migraine, post-operative pain, chronic back pain, cancer pain, neuropathic pain, arthritis pain, and others.

By drug class, the market can be segmented into non-narcotics, analgesics, opioids, antidepressants, anti-migration agents, anticonvulsants, anesthetics, and NSAIDs.

North America accounts for the largest share in the global pain management therapeutics market due to the presence of well-established healthcare infrastructure in the region. Also, the high prevalence of chronic diseases in the region, along with the presence of favorable reimbursement healthcare policies, is likely to further accentuate the growth of the regional market.

Some of the significant players in the global pain management therapeutics market are Eli Lilly & Co, Johnson & Johnson, Purdue Pharma LP, AstraZeneca PLC, Abbott Laboratories Inc, Merck & Co. Inc, Endo Health Solutions, and Pfizer Inc. To cite, Ireland-based Endo International plc in 2015 acquired Auxilium Pharmaceuticals. The company in 2016 also introduced the BELBUCA Buccal Film, which is used for the management of chronic pain.

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