Asia Pacific Pain Management Therapeutics Market- Description
Pain is generally referred to as a disturbing sensory and emotional sensation that mainly results from tissue damage or disease.
A number of disorders can cause discomforts that includes, osteoarthritis, cancer, multiple sclerosis, stomach ulcer, diabetic neuropathy, fibromyalgia, and also chronic arthritis.
The length of pain can range from acute pain intended for the short term to chronic pain intended for the long term. The chronic pain is mainly caused because of aged bone and joint conditions, injury, or nerve damage.
Asia Pacific Pain Management Therapeutics Market- Overview
The Asia Pacific Pain Management Therapeutics 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.
Pain is mainly the result of potential tissue damage that leads to an unbearable sensory and emotional experience. The first line of treatment in pain management involves the usage of pharmaceuticals from various therapeutic classes that includes, antidepressants, opioids, NSAIDs, anticonvulsants, anaesthetic, and other non-narcotic analgesics.
Additionally, different drugs are utilized to manage pain that usually results from inflammation in response to tissue damage, chemical agents or pathogens, or even nerve damage.
The growing rate of chronic diseases that includes, diabetic neuropathy, osteoarthritis, and cancer and the rising elderly population has boosted the market growth over the forecast period, in addition to the rise in adoption of opioids for the pain management therapeutics market.
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.
Asia Pacific Pain Management Therapeutics Market- Segmental analysis
Based on Therapeutics
Anaesthetics
Anticonvulsant
Antidepressant Drugs
Anti-Migraine Drugs
Opioids
Others
The Opioids segment has dominated the market growth over the forecast period. This is because of the rising use of opioids by the number of major players operating in the marker.
Based on Indication
Arthritic Pain
Neuropathic Pain
Cancer Pain
Chronic Pain
Post-Operative Pain
Migraine
Fibromyalgia
Bone Fracture
Muscle Sprain/Strain
Acute Appendicitis
Other Indications
The arthritic pain segment has dominated the market growth over the forecast period. This is because of the rising prevalence of arthritis is also projected to aid the market growth over the forecast period.
Based on Distribution Channel
Online pharmacy
Retail pharmacy
Hospital pharmacy
The online pharmacy has dominated the market growth over the forecast period. This is because of the rising use of online transactions and makes work easier.
Asia Pacific Pain Management Therapeutics Market- Geographical Analysis
The Asia Pacific region is segmented into China, Japan, India, Australia, Singapore, Thailand, and the Rest of Asia Pacific. The market is anticipated to be dominated by China over the forecast period. This is credited to the growing healthcare costs, the mounting awareness that is related to neuropathic pain management along with the presence of a large patient pool in the nation
Asia Pacific Pain Management Therapeutics Market- Competitive Landscape
Some of the prominent companies operating in the market are Allergen Inc., AstraZeneca, Baxter International Inc., Boehringer Ingelheim, Eli Lilly and Company, Endo Pharmaceuticals, GlaxoSmithKline plc, Johnson & Johnson Services Inc., Mallinckrodt Novartis AG, Pfizer Inc., Sanofi S.A, Sorrento Therapeutics, Teva Pharmaceutical Industries Ltd, Valeant Pharmaceuticals International Inc., and Others.
Report Scope
Asia Pacific Pain Management Therapeutics Market: Historical Year- 2018-2021
Asia Pacific Pain Management Therapeutics Market: Forecast Year- 2022-2030
Asia Pacific Pain Management Therapeutics Market 2022- USD 78,711.14 million
Asia Pacific Pain Management Therapeutics Market 2030- USD 1,04,451.39 million
Asia Pacific Pain Management Therapeutics Market CAGR- 3.6%
Major Segments Covered-
By therapeutics (Anaesthetics, Anticonvulsant, Antidepressant Drugs, Anti-Migraine Drugs, Opioids, Others)
By Indication (Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Pain, Post-Operative Pain, Migraine, Fibromyalgia, Bone Fracture, Muscle Sprain/Strain, Acute Appendicitis, Other Indications)
By Distribution Channel (Online pharmacy, Retail pharmacy, Hospital pharmacy)
Key regions and countries covered
Asia Pacific (China, Japan, India, Australia, Singapore, Thailand, and the Rest of Asia Pacific)
Top Players Profiled- Allergen Inc., AstraZeneca, Baxter International Inc., Boehringer Ingelheim, Eli Lilly and Company, Endo Pharmaceuticals, GlaxoSmithKline plc, Johnson & Johnson Services Inc., Mallinckrodt Novartis AG, Pfizer Inc., Sanofi S.A, Sorrento Therapeutics, Teva Pharmaceutical Industries Ltd, Valeant Pharmaceuticals International Inc., and Others.
