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Surge in incidences of chronic diseases, supportive regulatory scenario, and rise in aging population drive the growth of the gulf pain management drugs market.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.
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.
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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 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.
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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.
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.
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.
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