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.
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.