About this market
Numerous diseases and conditions are associated with pain, including arthritis, peripheral neurology, fibromyalgia and shingles. Low back pain is a common health problem in the workplace and most people are expected to experience symptoms of low back pain during their working life. Such an increase in the prevalence of chronic pain conditions will drive the global pain management drugs market during our forecast period. analysts have predicted that the pain management drugs market will register a CAGR of nearly 4% by 2022.
Market Overview
Strong pipeline and recently approved pain management drugs
Most of the therapeutics that are in the last stage of development are expected to get marketing approval during our forecast period. Apart from the strong pipeline of late- stage molecules, recent approvals are expected to drive the global pain management drugs market.
High influx of generic drugs
Patent cliff and high prices of branded drugs result in a high influx of genetic drugs. The major reasons behind high drug prices are drug regulatory policies or industrial pricing strategies, and policy measures.
For the detailed list of factors that will drive and challenge the growth of the pain management drugs market during the 2018-2022, view our report.
Competitive Landscape
The pain management drugs market appears to be fragmented and with the presence of several companies including. The vendors in the market have strong R&D pipelines for new investigational pain management medicines. The robust pipelines for pain management drugs will likely propel the market’s growth. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.’