The Global
Visceral Pain Market is expected to reach USD 14.22 billion by 2024,
driven by the increasing geriatric population globally. Increasing prevalence
of visceral pain and rising awareness regarding the same is projected to drive
market growth over the forecast period.
In 2016, North America held the majority of share in global visceral
pain market owing to the increasing healthcare expenditure. Additionally, the
high prevalence of Crohn’s and irritable bowel is expected to propel the growth
of the market over the projected period.
Asia Pacific is expected to be the fastest growing region with the CAGR
of 6.2%. The increase in the healthcare infrastructure and presence of a large
pool of patients is projected to drive the demand for the visceral pain
industry during the forecast period.
Analgesic segment dominated the market for the visceral pain with the
market share of 60.4%. The major share of the analgesic segment is attributed
to the increasing penetration of generic drug. Furthermore, rising healthcare
expenditure and an increasing use of opioids for the chronic pain are the key
factors attributing to its share.
In 2016, Crohn’s disease was the largest indication segment for the
visceral pain market contributing to 41.4% of the market share. Increasing
occurrences of Crohn’s disease across the globe coupled with the growing drug
therapies for the treatment of the disease are the key factors attributing to
the major share. Furthermore, increasing awareness about Crohn’s disease is
fueling the demand for treatment therapies.
Key market players include Pfizer, Johnson & Johnson, Abbvie,
Takeda, Allergan, and AstraZeneca. These companies are focusing on R&D for
visceral pain therapeutics. These companies are likely to cater their products
to patients affected by visceral pain. The growth of the geriatric population is
expected to help in augmenting the profits of these companies over the next few
years.
Growing focus on research and development by pharmaceutical companies
and government initiatives are expected to boost the visceral pain industry
during the forecast period. The market is projected to witness significant gain
during the forecast period owing to increasing collaboration within
pharmaceutical companies. Also, factors such as increasing awareness among
people regarding visceral pain are further anticipated to propel the market
growth.
Hexa Research has segmented the global visceral pain
market on the basis of therapeutics, indications and region:
Segmentation by therapeutics, 2014 - 2024 (USD
Million)
• Analgesics
• Narcotics
• NSAID
• Pain modifiers
• Tricyclic
Antidepressants
• Tricyclic
Anticonvulsant
• Others
Segmentation by indications, 2014 - 2024 (USD Million)
• Interstitial cystitis
• Crohn’s
• Irritable bowel
• Chronic prostatitis
Segmentation by region, 2014 - 2024 (USD Million)
• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)
Key players analyzed:
• Pfizer Inc.
• Allergan
• Johnson & Johnson
• Bayer AG
• Takeda Pharmaceutical Company Limited
• Mallinkrodt Pharmaceuticals
• AbbVie Inc.
• AstraZeneca
Browse Related Category Market
Reports @ https://www.hexaresearch.com/research-category/clinical-diagnostics-industry
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