Cancer Pain Management Market Overview:
The global cancer pain management market is envisaged to gain a telling impetus while riding on the moderate to severe pattern of pain experienced by patients worldwide. Nearly a 70.0% of cancer patients could suffer from chronic pain because of spinal cord injuries, 28.0% due to multiple sclerosis, and 8.0% on account of stroke on a global platform. Besides this, an above 75.0% of the patients are expected to complain of a gradual surge in pain with the progression of the disease. Increase in the count of patients experiencing such pain could put a positive effect on the growth of the market.
The global cancer pain management market is envisaged to gain a telling impetus while riding on the moderate to severe pattern of pain experienced by patients worldwide. Nearly a 70.0% of cancer patients could suffer from chronic pain because of spinal cord injuries, 28.0% due to multiple sclerosis, and 8.0% on account of stroke on a global platform. Besides this, an above 75.0% of the patients are expected to complain of a gradual surge in pain with the progression of the disease. Increase in the count of patients experiencing such pain could put a positive effect on the growth of the market.
With elevating research and development focus, there could be a range of drugs in the pipeline. This is anticipated to bode well for the global cancer pain management market as more drugs could mean a rise in demand.
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Global Cancer Pain Management Market: Drivers and Restraints
Pain is an unpleasant emotional, subjective, and sensory experience due to the actual or potential damage caused to cells or tissues of the patients. Pain is the most common symptom in various manifestations that lead patients to seek medical assistance or advice. Cancer is associated with several well-defined acute as well as chronic pain syndromes. Cancer is a complex and potentially fatal disease that is primarily caused through environmental factors resulting into gene mutations affecting critical cell-regulatory proteins. Such changes trigger aberrant cell behavior leading to uncontrolled proliferation of cells (tumor formation) and subsequent destruction of surrounding normal tissues. Tumors are either benign or malignant, while the malignant tumors are characterized by rapid growth, invasiveness, and potential to colonize in distant organs. These tumors exert pressure by pressing on nerves, bones, and other parts of the body causing pain. Cancer pain is also experienced during active cancer therapy and primarily during the advanced stages of cancer.
The rising prevalence of cancer across the globe is driving the global cancer diagnostics market. According to the International Agency for Research on Cancer, there were 14.1 million new cases of cancer and 8.2 million deaths recorded globally in 2012. Based on the above statistical information, the World Health Organization (WHO) estimated that by 2025, 19.3 million new cases are expected to occur each year. Rising incidences of cancer and increasing healthcare spending is anticipated to aid the global cancer pain management market. Moreover, the Patient Protection Act and Affordable Care Act amended on March 30, 2010, by the Health Care and Education Reconciliation Act, enhancing the insurance access to more than 25 million U.S. citizens, is eventually estimated to support the growth of cancer pain management.
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Global Cancer Pain Management Market: Key Segments
From the geographical perspective, the global cancer pain management market is prognosticated to be segregated into key regions, out of which, North America could take a leading position. Better healthcare spending, improved healthcare infrastructure, and presence of leading players are some of the top reasons that the region is predicted to outclass other geographical segments of the market. However, Asia Pacific could make its presence known for cancer pain management on the back of enhanced healthcare services provided to patients and key countries such as India, Brazil, and China exhibiting multiplied investments by their governments. Growing awareness about cancer and its pain management could also contribute to the growth of Asia Pacific.
Global Cancer Pain Management Market: Key Segments
From the geographical perspective, the global cancer pain management market is prognosticated to be segregated into key regions, out of which, North America could take a leading position. Better healthcare spending, improved healthcare infrastructure, and presence of leading players are some of the top reasons that the region is predicted to outclass other geographical segments of the market. However, Asia Pacific could make its presence known for cancer pain management on the back of enhanced healthcare services provided to patients and key countries such as India, Brazil, and China exhibiting multiplied investments by their governments. Growing awareness about cancer and its pain management could also contribute to the growth of Asia Pacific.
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Global Cancer Pain Management Market: Key Players
In terms of regions, the cancer pain management market can be into Asia Pacific (APAC), Europe, Middle East & Africa (MEA), North America (NA), and Latin America (LA). Key players operating in the cancer pain management market include Abbott, Boston Scientific Corporation, Baxter, Medtronic plc., and Olympus. Intense competition is driving acquisition and in-licensing agreements, as companies are striving to expand and diversify their product pipeline. Strategic partnership and alliances are commonplace, as companies are aiming to synergize their programs and develop combination pain management therapies.
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