A Market and Research report found the global pain management drugs market is expected to grow substantially from 2016 to 2020, according to Whatech.
Here are five takeaways:
1. From 2016 to 2020, the market is projected to increase at a compound annual growth rate of 4.97 percent.
2. An influx of research and development activities will spur market growth.
3. The growing aging population is also driving market growth, with the number of people aged 60 years and above to reach 32 percent by 2050.
4. A growing preference for alterative therapies will pose a challenge to market growth.
5. Key market vendors include AstraZeneca, Endo International, Johnson & Johnson, Pfizer and Purdue Pharma, among others.
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