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    Pain Management Market Report

    Pain Management Market Report
    Report code - SR1417 Delivery - 2 Weeks
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    Pain Management Market Trends, Dynamics & Market Insights
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    Impact of COVID-19 on Pain Management Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Pain Management Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Pain Management Market is projected to grow from USD 65.2 billion in 2020 to USD 86.1 billion by 2026 at a CAGR of around 4.8% during the forecast period.

    Figure: Pain Management Market Size, 2020-2026 (USD Billion)

    Pain-Management-Market-Forecast

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    What is pain management?

    Pain is referred to as an unpleasant sensation in the body, due to ongoing or impending tissue damage. Pain management includes therapies, drugs, and devices that help alleviate the pain. Pain management products are employed to ease the suffering of the individual and improve the quality of life of those having chronic pain.

    Key Players

    Key players operating in the pain management market arep-

    • Abbott Laboratories (US)
    • Baxter International Inc. (US)
    • Becton
    • Dickinson
    • Company (US)
    • Boston Scientific Corporation (US)
    • Fresenius SE & Co. KGaA (Germany)
    • GlaxoSmithKline PLC (UK)
    • Johnson & Johnson (US)
    • Medtronic PLC (US)
    • Novartis International AG (Switzerland)
    • Pfizer Inc. (US).

    Market Dynamics

    The growth of the pain management market is primarily driven by increasing incidences of chronic illness including diabetic neuropathy, cancer, and osteoarthritis among others. Expanding the geriatric populace across geographies is another key factor that is likely to propel market growth during the review period. The rising number of surgical procedures due to increased accidental injuries is propelling the market growth substantially. In addition to this, increasing investment in research and development activities to develop novel drugs is likely to create lucrative opportunities for the players operating in the global market in the coming years.

    Segments' Analysis

    Application Trends

    By application, the pain management market has been categorized into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, others. The cancer pain segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. Pain during cancer primarily occurs the most when a tumor presses on the bones, nerves, or organs. The pain may vary according to the affected location. Pain caused by cancer can be treated. Many medicines are used for pain management in cancer patients.

    Regional Trends

    By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to expanding geriatric populace and the presence of key market players such as Pfizer, Johnson & Johnson, and Company (US) and Abbott Laboratories (US). The market in Asia-Pacific is expected to be driven by rising incidences of chronic wounds coupled with increased spending on healthcare.

    COVID-19 Impact on Pain Management Market

    Covid-19 outbreak impacted the growth of the pain management market positively as the demand for chronic Pain Management increased despite pandemics. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which affected the product supply for a short period.

    Critical Questions Answered in the Report

    • What are the key trends in the global pain management market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global pain management market?
    • What are the key strategies adopted by the major vendors to lead in the global pain management market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the pain management market hopes to have the greatest opportunity to convert-

    • Pain management distributors
    • Pain management suppliers
    • Pain management manufacturers
    • Logistics organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The pain management market is expected to witness an impressive growth of 4.8% CAGR in the coming years.

    Abbott Laboratories (US), Baxter International Inc. (US), Becton, Dickinson, and Company (US); Boston Scientific Corporation (US), Fresenius SE & Co. KGaA (Germany), GlaxoSmithKline PLC (UK), Johnson & Johnson (US), Medtronic PLC (US), Novartis International AG (Switzerland), and Pfizer Inc. (US) are among the key players in the pain management market.

    The pain management market size is expected to reach USD 86.1 billion in the foreseeable future.

    The cancer pain segment is expected to register significant growth in the pain management market in the coming years.

    North America accounted for the largest share in the pain management market in 2020.

    Pain management distributors, Pain management suppliers, Pain management manufacturers, Logistics organizations, Government bodies are the target audience in the pain management market.

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