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.
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.
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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.
The growth of the Gulf pain management drugs market is attributed to increase in R&D investment and outsourcing of pharmaceutical companies due to strong need for better treatment lead to growth in pain management drugs market. Moreover, surge in prevalence of chronic diseases, such as cancer, diabetic neuropathy, and osteoarthritis propels the market growth.
Key Findings Of The Study
By drug class, the anti-migraine agents segment occupied 4.0% share of the Gulf pain management drug market in 2019.
By indication, the cancer pain segment is anticipated to grow with the highest CAGR 4.2% throughout the forecast period.
By pain type, chronic pain segment is anticipated to experience growth at 3.4% during the forecast period.
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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Leading market players:
Eli Lilly & Company
Purdue Pharma L.P.
Merck & Co. Inc.
Johnson & Johnson
Gulf Pharmaceutical Industries (Julphar)
Oman pharmaceutical products Co. Llc
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Release ID: 89033867