Visceral Pain Treatment Market: Introduction
Pain is experienced when internal organs and tissues are damaged or injured. Visceral pain occurs due to activation of nociceptors of the thoracic, pelvic, or abdominal viscera. Injuries to organs including gallbladder, intestines, bladder, or kidneys could cause visceral pain. Symptomatic treatment relies on use of medications such as painkillers, spasmolytics, and antidepressants.
Read Report Overview – https://www.transparencymarketresearch.com/visceral-pain-treatment-market.html
Key Drivers and Restraints of Global Visceral Pain Treatment Market
Visceral pain associated with ailments such as inflammatory bowel diseases, gallstones, acute pancreatitis, acute appendicitis, and diverticulitis are the most common reasons for visits to outpatient and inpatient gastrointestinal (GI) clinics. High prevalence and increase in incidence of target diseases boost market growth. Inflammatory bowel diseases are most common in developed countries compared to developing countries. These diseases affect men and women alike and mostly affect people aged between 15 and 30. According to the Centers for Disease Control and Prevention (CDC), in 2015, nearly 3.1 million people (1.3% of the population) in the U.S. were diagnosed with either Crohn’s disease or ulcerative colitis. Each year around 70,000 new cases of IBD are diagnosed in the U.S. Hospitalization rate of secondary diagnosed population with IBD has increased significantly from 44.2 to 59.7 per 100,00 population during 2003–2013.
Recent launch and approval of new drugs in North America, Europe, and Japan are projected to fuel demand for visceral pain treatment in the near future. AstraZeneca and Allergan are together developing MEDI2070 interleukin-23 monoclonal antibody against ulcerative colitis and Crohn’s disease. The MEDI2070 is currently in phase IIb of clinical trial for moderate to severe Crohn’s disease and in phase II for ulcerative colitis. Pfizer’s PF-00547659, and Celgene’s Ozanimod are in phase II and phase III clinical trials for Crohn’s disease and ulcerative colitis, respectively.
Request Brochure of Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=79458
However, patent expiration of top drugs is anticipated hamper market growth in the near future. Most of the leading biologic and pharmaceutical products have lost their patents in the past few years and some are expected to go off patent in the near future. Therefore, generic and biosimilar medicines are likely to gain market share during the forecast period. Humira (Adalimumab), a leading biologic brand for the treatment of IBD from AbbVie, In., lost its patent in 2016. Johnson & Johnson’s Remicade lost patent in 2014. Newly launched biosimilar and generic treatment products have recorded exponential year-on-year growth rate and are projected to capture a major share of the market in the near future.
Analgesics Segment Dominated Global Visceral Pain Treatment Market
In terms of drug type, the global visceral pain treatment market can be divided into pain modifiers, analgesics, and others. The pain modifiers segment can be split into tricyclic anticonvulsant and tricyclic antidepressants. The analgesics segment can be segregated into narcotics and NSAID.
The analgesics segment held major market share in 2019. The first-line treatment of visceral pain is the use of non-opioid analgesics. Some over-the-counter non-steroidal anti-inflammatories (NSAIDs) category analgesic, which are primarily used in visceral pain treatment include Aleve (naproxen) and aspirin (acetylsalicylic acid). In August 2020, Lannett Company, Inc. announced the launch of Cediprof, Inc.’s FDA approved Levothyroxine Sodium Tablets USP, which is an opioid pain reliever, under the companies’ recently announced interim exclusive supply and distribution agreement. Baudax Bio launched as a new pharmaceutical company aimed at advancing promising, non-opioid analgesic therapies.
Request for Custom Research – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=79458
Ulcerative Colitis Segment to Witness Significant Growth
Based on disease indication, the global visceral pain treatment market can be classified into chronic prostatitis, interstitial cystitis, Crohn’s disease, and ulcerative colitis
The ulcerative colitis segment accounted for the largest share of the market in 2019, followed by the Crohn’s disease segment. Inflammatory bowel disease (IBD), including two subtypes, ulcerative colitis (UC) and Crohn’s disease (CD), is a chronic inflammatory disorder of unfamiliar etiology. Significant rise in prevalence and incidence of IBDs have been reported in the last few decades and are anticipated to increase during the forecast period. According to IBD Support Australia Incorporated, around 61,000 people in Australia are affected by inflammatory bowel disease, of which around 28,000 people are affected by Crohn’s disease and 33,000 are affected by ulcerative colitis.
Retail Pharmacies Segment to Lead Global Visceral Pain Treatment Market
In terms of distribution channel, the global visceral pain treatment market can be categorized into hospital pharmacies, retail pharmacies, and online pharmacies
The retail pharmacies segment held major market share in terms of revenue in 2019 and the trend is expected to continue during the forecast period. However, the online pharmacies segment is likely to expand at the highest CAGR from 2020 to 2030 due to increase in Internet penetration and smartphone ownership along with the ease of ordering medications through an e-commerce platform, rise in prevalence of chronic diseases, and surge in per capita income and resultant health care spend.
The retail pharmacies segment witnessed significant growth in the past few years, owing to favorable demographic factors and an epidemiological transition. Inclusion of various medicines under the OTC category and preference for self-medication is projected to drive the segment.
Pre Book Visceral Pain Treatment Market Report – https://www.transparencymarketresearch.com/checkout.php?rep_id=79458<ype=S
North America to Dominate Global Visceral Pain Treatment Market
In terms of region, the global visceral pain treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
In terms of revenue, North America dominated the global visceral pain treatment market in 2019 due to increase in awareness about visceral pain treatment and rise in government initiatives. Additionally, surge in investment in research & development by various pharmaceutical companies drives the market in North America. Neomed Management AS, Arena Pharmaceuticals, Inc., and Anavex Life Sciences Corp. are the major companies having drugs in the visceral pain therapeutic pipeline. Increase in incidence of diseases is also a major factor propelling the market in the region. Around 70,000 new cases of inflammatory bowel diseases (IBD) are diagnosed in the U.S. each year. There may be as many as 80,000 children in the country with IBD.
Asia Pacific is likely to be a highly lucrative market for visceral pain treatment during the forecast period. The market in the region is projected to expand at a high CAGR from 2020 to 2030. Adoption of new treatment methods, pipeline drugs, and increase in partnership of governments with private players and clinical laboratories are anticipated to propel the market in Asia Pacific during the forecast period. According to data published in NCBI in 2016, incidence of ulcerative colitis was approximately 1 per 100,000 in Asia, while the incidence of Crohn’s disease was slightly lower, at approximately 0.5 per 100,000 people.
Key Players Operating in Global Visceral Pain Treatment Market
The global visceral pain treatment market was highly fragmented in 2019. Key players operating in the global market are:
- Addex Therapeutics Ltd.
- AstraZeneca
- Astellas Pharma, Inc.
- Allergan
- Chromocell Corporation
- Takeda, GIcare Pharma, Inc.
- AbbVie
- Grunenthal GmbH
- Johnson & Johnson
- Neurim Pharmaceuticals Ltd.
- Medestea Research & Production S.p.A.
More Trending Reports by Transparency Market Research –
Medical Enzyme Technology Market: https://www.prnewswire.com/news-releases/strides-by-medical-enzyme-technology-market-to-open-new-vistas-in-human-diseases-diagnosis-valuation-to-touch-us-6-8-bn-by-2030-tmr-301292517.html
Medical Laser Systems Market: https://www.prnewswire.co.uk/news-releases/fiber-laser-emerging-as-promising-tool-in-medical-laser-systems-market-during-2020-2030-valuation-to-touch-us-8-5-bn-by-2030-finds-tmr-825178349.html
About Us
Transparency Market Research is a global market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for several decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts so that it always reflects latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact
Transparency Market Research,
90 State Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
