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Market Report on Pain Medicine | Pain Medicine Conference | September 14-15, 2020 | Tokyo, Japan

Regina Casi

Conference Series take the pleasure to proudly present “2nd World Congress on Pain Medicine and Management” during September 14-15, 2020 in Tokyo, Japan with the theme “Current Research and Innovations in Medicine to Improve Human Health”.
Pain is defined as an unpleasant sensation in the body, owing to ongoing or impending tissue damage. Pain management is one of the most frequently dealt-with issues by clinicians for any disease. Pharmacological therapy is the first line of therapy, followed by treatment via devices in severe pain management cases.
Based on drug class, the market is segmented into NSAIDs, anesthetics, anticonvulsants, ant migraine agents, antidepressants, opioids, and nonnarcotic analgesics. Moreover, the segment is further divided into tramadol, hydrocodone, oxycodone, and others. Based on indication, the market is divided into arthritic pain, neuropathic pain, cancer pain, chronic back pain, postoperative pain, migraine, and fibromyalgia. The cancer pain segment is expected to manifest the highest CAGR during the study period, owing to increase in prevalence of cancer across the world. The postoperative pain and chronic back pain together held the largest share in 2017, owing to rise in number of surgeries globally and rise in prevalence of chronic diseases leading to back pain. On the premise of region, the market is analyzed in numerous regions like North America, Asia-Pacific, Europe, and LAMEA. The market in North America held the highest share during the forecast period. North America holds the biggest share within the world pain management market, with the U.S being the biggest contributor to its revenue. According to the data published by the Centers for Disease Control and Prevention (CDC) in 2016, approximately 20.4% of adults in the United States (which is about 50.0 million) were suffering from chronic pain and 8.0% of adults in the country (which is about 19.6 million) were suffering from high-impact chronic pain, with higher prevalence associated with advancing age. Overall, pain management in the United States is considered to be the most developed in the world, primarily due to the large presence of pain specialist physicians, increasing number of approvals from food and drug administration, and therefore the strong infrastructure for providing pain management services to patients.
On the premise of application, the chronic pain treatment market is categorized into system, neuropathy, oncology and others. Of these, pain treatment merchandise area unit for the most part used for system indications. This application category’s revenue is expected to be around $44.7 billion by 2024, fueled by growing incidence of musculoskeletal disorders, globally. According to the report, Hidden Impact of Musculoskeletal Disorders on Americans, published in 2018 by the U.S. Bone and Joint Initiative, back pain accounted for more than 264 million lost work days in one year in the U.S.
Due to this, the direct distribution channel mode is the expected to be faster growing category in the market, advancing at a CAGR of 6.7% during the forecast period. The increasing government funding pertaining to the study on chronic pain treatment will boost the growth of the market in the coming years. Side-effects associated with pain management drugs and devices, product recalls, and patent expiry of blockbuster chronic pain treatment drugs will negatively impact the growth of the market in the coming years.