Global Non-Opioid Pain Treatment Market to witness 18% CAGR over 2020-2027

December 16, 2020


According to the research report titled ‘Global Non-Opioid Pain Treatment Market Size study, by Product (Medical Cannabis, Menthol-Containing, Omega 3 Fatty Acid-Containing, Botulinum Toxins, Capsaicin-Derived), by Application (Orthopaedic and Musculoskeletal Pain, Neuropathic Pain, Cancer Pain, Others) and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, global non-opioid pain treatment market accounted for USD 13.8 million in 2019 and is expected to grow with a CAGR of 18% through 2027.
 

Rising prevalence of chronic diseases like cancer in developed and emerging countries, and increasing research & developmental (R&D) activities related to non-opioid treatment for pain relief are the major factors propelling the growth of global non-opioid pain treatment market during the forecast period. Also, several benefits of non-opioids drugs in treating acute pains such as first-line treatment and robust pain relievers are increasing the product demand, thereby impelling the global non-opioid pain treatment market growth. Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2854742/ According to the International Agency for Research on Cancer (IARC), almost 17 million new cancer cases were accounted in 2018, along with 9.5 million deaths globally. It further stated that new cancer cases are expected to grow to over 27.5 million, causing 16.3 million deaths by the year 2040. Surging instances of cancer is likely to boost the demand for non-opioid pain treatment worldwide.  Further, increasing cases of COVID-19 infection has encouraged the government to mandate utilization of several drugs on the patients to manage the diseases and/or to control the spread of coronavirus, contributing to the industry growth. However, availability of alternative therapies and counterfeit products is a major factor expected to hamper the global non-opioid pain treatment market growth over 2020-2027.

Based on product spectrum, global non-opioid pain treatment industry is segmented into omega 3 fatty acid-containing, medical cannabis, capsaicin-derived, menthol-containing, and botulinum toxins. With regards to application, the industry is bifurcated into orthopaedic & musculoskeletal pain, cancer pain, neuropathic pain, and others.
 

From a regional frame of reference, worldwide non-opioid pain treatment market forecast is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. North America market is projected to record a significant growth during the study period, mainly due to constant clinical trials, rising investment for R&D activities of novel drug therapies, and existence of significant number of manufacturers in the region.
 

Meanwhile, Asia Pacific market is anticipated to experience highest growth rate over 2020-2027, owing to rising incidences of chronic illnesses, and shifting economic scenario which increases drug affordability in the region.
 

Major players operating in global non-opioid pain treatment market sphere include Cronos Group, Inc., Medropharm Gmbh, Cara Therapeutics, Inc., GW Pharmaceuticals plc, Centrexion Therapeutics Corp., Medical Marijuana, Inc., Tilray, Inc., Canopy Growth Corporation (formerly Tweed Marijuana, Inc.), US WorldMeds LLC, and Allergan plc.

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