Pain Drug Delivery Market - PMR Market Insight Report 2016 to 2022

Pain Drug Delivery Market - PMR Market Insight Report 2016 to 2022
Persistence Market Research
Pain Drug Delivery Market - PMR Market
Insight Report 2016 to 2022
Persistence Market Research
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Pain Drug Delivery Market - PMR Market Insight Report 2016 to 2022
Persistence Market Research Released New Market Report on “Pain Drug Delivery
Market - PMR Market Insight Report 2016 to 2022”.
Pain drug delivery system is an effective therapy for managing pain, whether it be a
chronic nonmalignant pain, a cancer pain, or a spasticity. Medications usually
circulate throughout the body in bloodstream, whereas pain drug delivery systems
releases medication directly into the fluid surrounding the spinal cord, which leads
to fewer drug side effects. Pain drug delivery systems help lessen chronic pain
caused by failed back surgery syndrome, cancer pain, reflex sympathetic dystrophy,
causalgia, arachnoiditis, and chronic pancreatitis. Such drug delivery systems used
for pain management also helps reduce the spasticity caused by cerebral palsy,
multiple sclerosis, stroke, brain injury and spinal cord injury among others. Pain drug
delivery systems do not eliminate the source of pain or cure any underlying disease,
but help to manage the pain.
According to the British journal of anesthesia, prevalence of chronic pain is higher
for instance, 10.1%-55.2% of the population in 2010. In U.S., about 30% of the
population is suffering from chronic or recurring pain. Approximately, two-third of
the population experience chronic pain for more than 5 years. In U.S., the cost of
chronic pain is approximately US$100 billion a year. Growing prevalence of various
types of cancers is a major factor driving the market. For instance, there were an
estimated 14.1 million cancer cases around the world in 2012. As per WHO
statistics, this number is expected to increase to 24 million by 2035. Also rising
geriatric population, increasing prevalence of diseases such as osteoarthritis,
diabetic neuropathy and chronic arthritis, moreover increasing healthcare
expenditure and disposable income are some of the key factors driving the growth
for the global pain drug delivery market.
The opportunities for the market growth includes agreements and collaborations of
drug delivery system manufacturers with pharmaceutical companies. This will help
in the growth of the drug delivery manufacturers, by assisting the pharmaceutical
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Pain Drug Delivery Market - PMR Market Insight Report 2016 to 2022
companies with their manufacturing processes, innovative technologies, new drug
development, and regulatory procedures. However, product recalls of drug delivery
systems is one of the major restraint for this market which will in-turn affect the
R&D expenditure for development of such products. Considering the technological
trends, targeted drug delivery technologies based on loaded nano-carriers (nanoshells or nanoparticles) are also attracting interest, which will ultimately lead to the
growth of the market.
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The global pain drug delivery market is segmented based on technology, application
and geography. By technology the global, market of pain drug delivery is segmented
into transdermal drug delivery system and intrathecal drug delivery systems among
others. By application, the global pain drug delivery market is categorized into
oncology, neurological disorders, pulmonary diseases, and hormonal disorders
among others. Oncology projected a higher growth rate. For instance, according to
the World Health Organization (WHO), the incidence of cancer based on projections,
will be greater than15 million in 2020.
By geography, the global pain drug delivery market is segmented into North
America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin
America. North America dominated the global pain drug delivery market due to
growing geriatric population and regulatory and healthcare reforms like the U.S.
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Pain Drug Delivery Market - PMR Market Insight Report 2016 to 2022
Patient Protection and Affordable Care Act. For instance, the population aged 65 and
over is projected to be 83.7 million in 2050, which is twice that estimated in 2012.
Moreover, presence of advanced healthcare infrastructures, reimbursement policies
and adoption of innovative products are also driving the market in North America.
Asia Pacific is expected to expand in the coming years due to the large patient pool,
increasing R&D investment, rising healthcare expenditure along with government
funding and initiatives, increase in disposable income, and the rising prevalence of
chronic diseases.
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Some of the key players in the global pain drug delivery market are Medtronic,
Flowonix Medical Inc., Aveva Drug Delivery Systems, Prosolus Pharmaceuticals, 3M,
and Teva Pharmaceutical Industries Ltd.
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Pain Drug Delivery Market - PMR Market Insight Report 2016 to 2022
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