Global Pain Relievers Market: Snapshot
Understanding of pain etiology and its management have advanced considerably over the past few decades. Various types of pain have been debilitating the quality of life of worldwide populations, and have led to loss of trillions of dollars in productivity in developed nations. Relievers for chronic pain and degenerative pain has been intensely researched to understand the multi-dimensional aspects, including biological, social, and psychological factors.
Clinicians, healthcare fraternity in general, and academia have increasingly stressed on understanding the nature of pain and optimize care for the patient population. New treatment approaches strive to increase not just the efficacy of the medications used as pain relievers but also consider their safety profiles. In recent years, the use of medical devices to relive pain has picked up some steam.
An array of over-the-counter (OTC) drugs and prescription medicines, notably of nonsteroidal nature, has gained in popularity in the pain relievers market for treating mild-to-moderate pain. Particularly, non-steroidal anti-inflammatory drugs (NSAIDs) such as ibuprofen and acetaminophen have shown effectiveness as acute pain relievers.
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Global Pain Relievers Market: Notable Developments
Growing numbers of pharmacies are striving to meet the need of patient populations for various types of pain, notably in the developed nations such as the U.S. This is opening new frontiers in the pain relievers market. BioPlus Specialty Pharmacy has entered into partnership in June 2019 to offer pain relievers, a category of non-opioid pain medication, to relieve post-shingles pain, a type of neuropathic pain. The pain is caused by neuralgia which if not controlled hinders daily activities of the patients. The medication has been approved by the U.S. FDA for its safety and efficacy in treating post-shingles pain. Approvals by regulatory agencies and their fast commercialization in developed countries helps keep the prospects in the pain relievers market lucrative.
Chronic pain over the past few years has been attractive substantial attention of developers of pain relief medications. Novel research approaches have opened new dynamics in this direction. A recent case in point is a research by Women’s Health Research at Yale on discovering novel targets for treating pain in women. The research also focuses on testing the potential of psychoactive drug most notably cannabis.
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Global Pain Relievers Market: Key Growth Dynamics
Growing research on pharmacological as well as non-pharmacological approaches to the treatment of pain has paved way for promising strides in the pain relievers market. Growing demand for pain relief medications in managing perioperative and chronic pain in various populations is propelling the strides. Growing patient populations who need pain relievers for joint and spine related inflammatory pain is a key trend boosting the market.
Incessant efforts have been made by researchers on understanding the mechanism through which anti-inflammatory drugs alleviate pain. In various parts of the world, the epidemic of prescription opioid has reached epidemic proportions, intensifying the need for more efficacious medications. The trend underpins the growing potential of the pain relievers market. To this end, numerous universities in developed nations have been engaged in research on developing pain relievers that have the potential to replace opioids. Advances in this direction is increasingly propelled by growing spending by public healthcare institutes.
The pain relievers market has witnesses marked potential in the rising use of over-the-counter NSAID for treating period pain and headache, especially in several developing countries.
Global Pain Relievers Market: Regional Assessment
On the regional front, North America is one of the most promising markets for pain relievers. Substantial demand for non-opioid pain relievers for a range of pain types has bolstered the growth in the regional market. The region is likely to contribute sizable shares to the global pain relievers market in near future. This will be increasingly fueled by extensive research on novel pharmacological approaches on develop more effective and safer pain relievers. Meanwhile, industry players find vast opportunities emerging in Asia Pacific. Rising demand for pain relievers in different patient cohorts has kept the prospects lucrative.
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