Pain is a complex medical condition, an unpleasant sensation and emotional experience linked to tissue damage which not only affects the physical but also mental well-being of an individual. It is caused due to trauma or tissue damage, and its intensity varies from person to person. Its purpose is to allow the body to react and prevent further tissue damage. Medical approach that draws on disciplines in science and alternative healing is called Pain management. Pain management is one of the branch of medicine which utilizes an inter punitive approach for improving the superiority and easing the suffering of life of persons who are living with the chronic pain. Pain management programs can employ massage therapy, analgesic medications, physical therapy. Minimally invasive procedures and proper use of medications are implemented to achieve pain management goals among individuals.
People are highly prone to suffer from pain owing to chronic diseases such as nerve damage, depression, epilepsy, bone or joint pain, and injuries etc. and rise in elderly population is a major factor contributing towards the growth of the global pain management therapeutics market. Increase in R&D investment and rise in outsourcing of pharmaceuticals are expected to fuel the market growth. Increase incidence of accidental and sports injuries, changing lifestyle, early onset of aging, and increasing awareness about of pain management therapeutics are some major factor enhancing the growth of global pain management therapeutics market. However, availability of alternative therapies and patent expiration of prescription drugs for treatment of pain are the factor restraining the growth of the global pain management therapeutics market. Side-effects caused by certain pain management therapeutics, low adoption in the emerging market inhibit the growth of the target market.
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Key players in global pain management therapeutics market include Novartis AG, Eli Lilly & Company, Abbott Laboratories, Endo Health Solutions, Inc., Purdue Pharma L.P., Pfizer, Inc., F. Hoffmann La Roche Ltd., Merck & Co. Inc., Johnson & Johnson, and GlaxoSmithKline Plc.