Portland, OR, March 23, 2021 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Gulf Pain Management Drugs Market by Drug Class, (NSAIDS, Anesthetics, Anticonvulsant, Anti-Migraine Drugs, Antidepressant Drugs, Opioids, Non-Narcotics, and Analgesics), Indication (Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Pain, Post-Oper2020ative Pain, Migraine, Fibromyalgia, Bone Fracture, Muscle Sprain/Strain, Acute Appendicitis, and Other Indications), Pain Type (Chronic and Acute): Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the gulf pain management drugs industry generated $851.08 million in 2019, and is expected to reach $1.04 billion by 2027, witnessing a CAGR of 3.2% from 2020 to 2027.
Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/10718
Prime determinants of growth
Surge in incidences of chronic diseases, supportive regulatory scenario, and rise in aging population drive the growth of the gulf pain management drugs market. However, availability of alternative therapies, drug exploitation, and patent expiration of prescription drugs hinder the market growth. On the other hand, advancements in drug development create new opportunities in the coming years.
Covid-19 Scenario
- Pain management services in many clinics in the gulf countries stopped offering services to ensure safety and avoid cross-contamination. Only cases involving management of chronic pain were served in the clinics and hospitals.
- Telemedicine services became prominent during the pandemic and physicians and consultants began offering their consultation through video calling and phone calls to ensure safety.
- During the post-lockdown, clinics are expected to open up for physical visits of patients and the demand is expected to rise steadily.
The opioids segment to maintain its leadership status during the forecast period
Based on drug class, the opioids segment held the highest market share, contributing to around one-fourth of the gulf pain management drugs market in 2019, and is projected to maintain its leadership status during the forecast period. This is due to rise in number of pain-related cases. However, the NSAIDs segment is expected to register the fastest CAGR of 3.7% from 2020 to 2027. This is attributed to surge in usage to soothe arthritis symptoms, headaches, sprains, and other daily discomforts and rise in reported cancer cases.
Enquiry for Short-term and Long-term Impacts of COVID-19 at: https://www.alliedmarketresearch.com/purchase-enquiry/10718
The neuropathic pain segment to continue its lead position by 2027
Based on indication, the neuropathic pain segment accounted for the largest share in 2019, holding nearly one-fifth of the gulf pain management drugs market, and is estimated to continue its lead position in terms of revenue during the forecast period. This is due to presence of large patient population that results in the demand for drugs for neuropathic pain. However, the cancer pain segment is expected to portray the fastest CAGR of 4.2% from 2020 to 2027, as chemotherapy may lead to numbness and tingling in hands and feet of cancer patients, and pain management drugs can be useful.
Saudi Arabia to maintain its dominant share by 2027
Based on country, Saudi Arabia contributed to the highest share in terms of revenue in 2019, accounting for nearly three-fifths of the gulf pain management drugs market, and will maintain its dominant share by 2027. This is attributed to rise in healthcare expenditure and ease in availability of pain management products. The report also analyzes the segments including the United Arab Emirates, Oman, and the rest of the gulf countries.
Leading market players
- Novartis AG
- Eli Lilly & Company
- Abbott Laboratories
- Purdue Pharma L.P.
- Pfizer, Inc.
- Mylan NV.
- Merck & Co. Inc.
- Johnson & Johnson
- Gulf Pharmaceutical Industries (Julphar)
- Oman pharmaceutical products Co. Llc
- GlaxoSmithKline Plc.
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
Similar Reports:
U.S. Pain Management Drugs Market - Global Opportunity Analysis and Industry Forecast, 2020–2027
Creatinine Measurement Market - Global Opportunity Analysis and Industry Forecast, 2019-2027
End Stage Renal Disease Market - Global Opportunity Analysis and Industry Forecast, 2019-2027
Gene Panel Market - Global Opportunity Analysis and Industry Forecast, 2019–2027
Medical Transcription Services Market - Global Opportunity Analysis and Industry Forecast, 2019–2027
Insulin Storage Devices Market - Global Opportunity Analysis and Industry Forecast, 2019–2027
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.