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Market Study on Expected Growth for Cancer Pain Market

Press Release   •   Feb 02, 2017 05:24 EST

Cancer pain market can be segmented based on the drug class used for the pain management, by device type, by the end user, and geography. By drug class, cancer pain market has been segmented into opioids, Non-steroidal anti-inflammatory drugs (NSAIDs), corticosteroids, Antidepressants and anticonvulsants, Bisphosphonates, and Ketamine, among others. By device type, cancer pain market can be segmented into implantable intrathecal drug delivery system and programmable intrathecal drug delivery system. Cancer pain market has been segmented into hospitals, cancer research institutes, clinics, and ambulatory surgical centers, among others by end users. By geography, Cancer pain market has been classified into North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.

According to National Cancer Institute, over 1,660,290 new patients were diagnosed with cancer and over 580,350 Americans died of cancer in 2013. Pain is one of the most dreaded symptoms in cancer, and it is moderate to severe in more than 50% of cancer patients. A similar increase in the number of cancer patients has been noted globally, which is one of the major growth drivers of cancer pain management. Globally, over 75% of the cancer patients complain of a gradual increase in pain as the disease progresses, and chronic pain is experienced by nearly 70% of the patients suffering from spinal cord injuries, 8% of stroke patients, and 28% of multiple sclerosis patients. This increase in the number of cancer patients experiencing pain will have a positive effect on the growth of cancer pain market. Also, a range of cancer pain management drugs is in the pipeline, indicating the increased research and development that would lead to the growth of the cancer pain market. Furthermore, increased healthcare spending and the availability of reimbursement would aid in the growth of the cancer pain market. However, lack of awareness and the high cost of treatment might hamper the cancer pain market.

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Opioids are expected to remain the dominant drug class segment in cancer pain market, owing to their ability to effectively treat the cancer pain. Geographically, North America is expected to lead the cancer pain market. The presence of market leaders in the region, well-developed healthcare infrastructure, and enhanced healthcare spending contribute to the growth of the cancer pain market in the region. However, Asia Pacific is expected to record a high CAGR growth in the cancer pain market during the forecast period, owing to the growing awareness among people, and increased government spending on providing enhanced healthcare services to the people. China, Brazil, and India are expected to drive strong growth in the cancer pain market as a result of increasing investments by the government to enhance the healthcare facilities.

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The leading players in the cancer pain market include Pfizer, Inc., Purdue Pharma, Mallinckrodt Pharmaceuticals, Teva Pharmaceuticals, Eli Lilly and Company, Johnson & Johnson, Endo Pharmaceuticals Inc., BioDelivery Sciences, ProStrakan Group, Sanofi S.A., and Grunenthal Group, among other significant global market players.

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