Chronic Pain Treatment Market - Key Players, Market Analysis and Growth, 2023
United States, 12 January 2018
-- Global chronic pain treatment market is expected to witness considerable growth due to current unmet medical need of chronic pain, technological advancement in pain therapeutic and diagnostic test, and increasing number of chronic diseases such as cancer, arthritis, and diabetes mellitus.
Chronic pain is defined as the pain that persists for more than 3 months or longer. It adversely affects patient’s quality of life that may limit a person’s movements, which can interfere with daily activities. This difficulty in carrying out work related or other activities can lead to disability and despair. Chronic pain persists and sends pain signals to the nervous system for weeks, months or even years. It also affects the peripheral and central nervous system called neuropathy that result from damage to or pathological changes of the peripheral or central nervous system. The actual cause of chronic pain is unknown. Some people feel chronic pain without having any past injury or evidence of body damage.
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A large number of pharmaceutical companies are working for the research and development of drugs for chronic pain treatment. The pipeline of the chronic pain treatment drug candidate is rich. However, certain factors such as high treatment cost through branded drugs and decreased patient compliance are the key factors for impeding the growth of the global market during the forecast period.
Geographically, North America is expected to be the largest market for chronic pain treatment owing to the favorable healthcare infrastructure and government initiatives, and increasing number of research and development activities. The U.S. contributed largest revenue to the North American chronic pain treatment market and it is expected to remain the largest market globally, during the forecast period.
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Some of the key players operating in the global chronic pain market are Pfizer, Inc., Cara Therapeutics, Inc., Endo Pharmaceuticals Inc., Teikoku Pharma USA, Inc., Allergan plc, Purdue Pharma L.P., Mallinckrodt plc, AstraZencea plc, Jazz Pharmaceuticals plc, and Nektar Therapeutics.
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Submitted by Jacob, P&S Market Research on Friday, 12 January 2018 at 7:15 PM
Category: Health Care & Medical
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