Market insights, future trends, ongoing demand, opportunities, segmentation and forecasts to 2028
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The increasing incidence of cancer and the growing demand for cancer pain relievers for pain relief are some of the key factors driving the growth of the cancer pain market
NEW YORK, NY, UNITED STATES, Nov. 1, 2021 /EINPresswire.com/ – The global cancer pain market is projected to reach $ 8,548.1 million by 2028, with a CAGR of 4.3% over the forecast period, according to the latest report of reports and data. The steady growth in sales in the cancer pain market can be attributed to the increasing prevalence of cancer. It has been estimated that about 1.8 million new cancer cases were diagnosed in the United States in 2020 and about 0.6 million deaths were attributable to the disease. By 2030, the number of cancer survivors in the United States is expected to rise to over 22.0 million. Cancer pain relievers find use in the effective management of pain in cancer patients. Even if complete pain relief is not always possible in pain patients, it can be reduced in almost all cases with the right medication. Effective pain management helps improve the quality of life for cancer patients.
The growing geriatric population and the high incidence of multiple comorbidities are leading to an increasing demand for more innovative drugs for treating pain. In addition, increasing investment in research and development activities at large companies is another factor driving market growth. The likelihood of developing cancer is significantly higher in people aged 65 and over than in younger people. In addition, about 60.0% of cancer diagnoses are in the geriatric population. The effects and intensity of pain with age are high, and more effective pain management is required, which is a factor in the sales growth of the market.
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The report is produced through extensive primary and secondary research that is verified and validated by industry experts, research analysts and professionals. The report is designed to help readers and users improve their business performance by providing insightful data about the business area such as recent technology development, product advancements, and strategic business adoption. The report also provides a comprehensive analysis of the competitive landscape as well as business overviews, expansion plans and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product and brand promotions, government and corporate deals and partnerships.
The top companies in the market include:
Sanofi SA, Teva Pharmaceuticals Industries Ltd., Johnson & Johnson, Daiichi Sankyo Company, BioDelivery Sciences International, Sorrento Therapeutics Inc., Pfizer Inc., Hisamitsu Pharmaceutical Co. Ltd., Orexo AB and Insys Therapeutics Inc.
Increasing focus on the development of vaccines to fight the COVID-19 pandemic and focus on preventive medicine to contain future epidemics and pandemics, the increasing number of product approvals for drugs and therapeutics as well as the rapid digital transformation in the pharmaceutical and healthcare industries are some key factors which are expected to boost sales growth over the forecast period. With social distancing norms in place and the growing focus on telemedicine, digital technologies have been adopted faster that enable healthcare professionals to efficiently manage patient health. One of the most important drivers of the pharmaceutical and healthcare industries is the rapid integration of artificial intelligence in key areas such as research and development, patient care, commercialization, and drug research and development. It has also resulted in a reduction in healthcare spending and improved systems efficiency, which is expected to further contribute to future sales growth of the market.
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Also, to provide a better understanding of the competitive landscape, the report includes a comprehensive SWOT analysis and Porter’s Five Forces analysis. In addition, feasibility studies and ROI analyzes are dealt with. The report is segmented based on the types of products offered in the market, application spectrum, and key regions of the Cancer Diseases market.
Some of the main findings of the report
• In October 2019, Q BioMed Inc. announced that it had signed an agreement with BioNucleonics Inc. to acquire Strontium-89 Chloride USP, a non-opioid pain reliever for bone cancer.
• Opioids are used to treat moderate to severe cancer pain. Often times, these drugs are essential as part of pain management for cancer patients. Healthcare professionals may recommend opioids for the treatment of cancer pain or pain that occurs as a result of treatment procedures. Tramadol, hydromorphone, and methadone are some examples of opioids.
• Lung cancer is a leading cause of cancer worldwide and pain is the main symptom of the disease. Pain can occur for a number of reasons, such as: B. by the local effect of a tumor, the distant / regional spread of the tumor or the application of cancer treatment.
• The North American market accounted for the largest share of sales in 2020, driven by rising cancer prevalence and well-established healthcare facilities in the countries of the region. In addition, the presence of leading market players in the region contributes to robust market sales growth.
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For the purposes of this report, Reports and Data has segmented the global Cancer Pain Market by Drug Type, Route of Administration, Application, End Use, and Region:
Drug Type Outlook (Revenue, $ Mn; 2018-2028)
• Non-steroidal anti-inflammatory drugs
Outlook for the administrative channel (sales, million USD; 2018-2028)
Application Outlook (Revenue, $ Mn; 2018-2028)
• lung cancer
• Colon cancer
• breast cancer
• Blood cancer
• prostate cancer
End Use Outlook (Revenue, $ Mn; 2018-2028)
• Specialized clinics
• Home care
Key regions examined in the report:
• North America (USA, Canada, Mexico)
• Europe (UK, Italy, Germany, France, rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
• Latin America (Chile, Brazil, Argentina, rest of Latin America)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, rest of MEA)
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Reports and Data is a market research and advisory firm that provides syndicated research reports, bespoke research reports, and advisory services. Our solutions focus solely on your purpose of locating, addressing, and analyzing changes in consumer behavior across demographics and industries, and helping customers make smarter business decisions. We offer market research studies that ensure relevant and fact-based research across a wide variety of industries including healthcare, technology, chemistry, energy, and energy. We are constantly updating our research offerings to ensure that our customers are informed about the latest trends in the market. Reports and Data has a strong base of experienced analysts from various specialist areas.
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November 01, 2021 11:25 GMT
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