(MENAFN- EIN Presswire) cancer pain market was valued at $6,197.8 million in 2020, and is estimated to reach $10,329.4 million by 2030, growing at a CAGR of 5.3% from 2021 to 2030.
PORTLAND, OREGON, UNITED STATES, November 26, 2021 /EINPresswire.com / -- According to the report by Allied Market Research, titled, 'Cancer Pain Market by Drug Type (Opioids, Non-opioids, and Nerve Blockers), and Disease Indication (Lung Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Blood Cancer, and Others): Global Opportunity Analysis and Industry Forecast, 2021––2030'. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Increase in incidence of cancer across the globe and surge in healthcare expenditure drive the growth of the global cancer pain market. However, fatal effects associated with the use of drugs employed in cancer pain management hinder the market growth. On the other hand, surge in number of pipeline drugs and untapped potential in emerging economies present new opportunities in the coming years.
Comprehensive competitive analysis and profiles of major market players, such as
Leading market players analyzed in the research Aoxing Pharmaceutical Company, Inc., Daiichi Sankyo Co., Ltd., BioDelivery Sciences International, Inc., Hisamitsu Pharmaceutical Co., Inc., Grunenthal Pharma GmbH & Co. KG, Mundipharma International Limited, Insys Therapeutics, Inc., Pfizer Inc., Orexo AB, and Teva Pharmaceutical Industries Limited.
Lung cancer segment to maintain its leadership status during the forecast period
Based on disease indication, the lung cancer segment held the major share in 2018, contributing for nearly one-fourth of the total market share, and is expected to maintain its leadership status during the forecast period. In addition, this segment would grow at the fastest CAGR of 6.1% from 2018 to 2025. This is a lucrative segment, owing to high prevalence of lung cancer and increase in the usage of cancer pain killers to get relief, upsurge in cigarette smoking population, and availability of advanced diagnostic techniques.
North America to maintain its highest share by 2025
Based on region, North America accounted for the major market share in 2018, accounting for more than two-fifths of the total market share. This region is expected to maintain its highest share during the forecast period. This is due to rapid increase in prevalence of different types of cancers, advancements in technologies, ease in availability of pain therapeutics, and availability of premiere chemotherapy treatments. On the other hand, Asia-Pacific would register the fastest growth rate with a CAGR of 5.4% from 2018 to 2025, owing to rise in prevalence of cancer in China, Japan, and India, increase in early screening of cancer, and surge in availability of pain therapeutics.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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.
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