Pain is an adverse postoperative outcome that requires effective pain management in the form of medications. The post-operative pain management is gaining traction in the global market owing to the increasing surgical treatments across the globe. As per the Report that has been published by Market research Future (MRFR), the global post-operative pain management market is anticipated to expand steadily at a CAGR of 5.4% during the forecast period of 2017-2023.
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Market Drivers and Restraints:
Increasing number of surgeries and rising demand for the pain management treatment is the major reason for the growth of the market. Analgesics are habit forming drugs and can also damage the renal system, this is the major restraining factor for the market.
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Global Post-operative pain management market was expected to grow at a CAGR of 5.4% during forecasted period 2017-2023.
Key Players for Global Post-operative Pain Management Market
Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly Company (U.S), Pfizer (U.S), Johnson & Johnson (U.S), Purdue Pharma (U.S), Endo Pharmaceuticals Plc. (U.S), Forest Laboratories Inc. (U.S), GlaxoSmithKline Plc. (UK), F. Hoffmann-La Roche Ltd. (Switzerland), Baxter International Inc. (US), Valeant Pharmaceuticals International Inc. (Canada) are some of the prominent players at the forefront of competition in the Global Post-operative Pain Management Market and are profiled in MRFR Analysis.
Post-operative Pain Management Industry Updates:
In August 2018, an expert panel of health care providers and patients from John Hopkins University, a private American university, have announced the creation of nation’s first set of operation specific prescribing guidelines for 20 common surgical procedures. These guidelines are based on the premise that the postoperative opioid prescribing limit should be based on the type of procedure performed rather than a blanket approach.
Global Post-operative Pain Management Market – Competitive Analysis
Many of the top companies are launching new and novel drug treatment to increase their market. Because of side effect and habit forming property of the therapy major players are concentrating on development of better analgesic. Companies are using a trend of strategic alliance and acquisition to gain the market and minimize the competition in the market.
Teva Pharmaceutical Industries Ltd. is the Israeli multinational pharmaceutical company working in the development and manufacturing of the drugs. Celecoxib intravenous is the major products of the company. Company has signed a collaborative agreement with Regeneron for the development of fasinumab which is a pain management drug. In first quarter of 2017 company has accounted a revenue of $ 5.6 billion. In 2014, company has acquired Labrys Biologics. This acquisition will help to achieve its goal of becoming a global leader in pain drugs by 2020.
Novartis, one of the leading pharmaceutical companies headquartered in Switzerland. In Nov 2016, company has plan a phase II trial for the NCT02961062 in the treatment of postoperative pain. They have almost completed the trials for the SAF312 in postoperative dental pain patients and company is expecting to launch the product soon. In May 2017, Novartis has sign a deal of $ 293 million with Durect for pain killer Posimir.
Pfizer Inc. a world’s largest American pharmaceutical companies headquartered in US. Parecoxib is the widely used drug of this company. Due to Lyrica which is a pain treatment the net income of the company has increased by 13 % in 2016. Company has completed the clinical trials for the EMBEDA for the post-operative pain management.
Forest Laboratories which is the American Pharmaceutical company headquartered in US. Forest Laboratories and Trevena Inc. has announce Collaboration for development of TRV027 which is used in the post-operative pain treatment.
Regional Analysis for Global Post-operative Pain Management Market
Geographically, America accounts the largest share for global post-operative pain management market owing to increasing number of surgeries and rising burden of chronic diseases has led to the growth of this market in America. Europe is the second largest post-operative pain management market owing to a well-developed healthcare infrastructure, government support for research & development, and huge patient population. Asia Pacific is the fastest growing region for the market due to increasing prevalence of many diseases, increasing aging population and development in healthcare infrastructure in this region has provided fuel for the growth of the market. The Middle East dominates the Middle East & Africa market due to the presence of well developed countries like Kuwait, Qatar, Oman and South Arabia. Whereas, Africa region is expecting a healthy growth due to presence of huge opportunity for the development of the market.
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