Canada’s Pain Management Therapeutics market size stood at around USD XX.X billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of around XX% during the forecast period.
In Canada according to several large population-based surveys, an estimated 1. Overall, 40.5% of Canadians aged 15 years and older (roughly 11.8 million people) reported they had used this type of pain relief product in their lifetime. Females were more likely than males to report opioid pain medication use. For both males and females, the prevalence of opioid medication use was highest among those aged 50 to 64. To help address the chronic pain crisis, Health Canada has created the Canadian Pain Task Force in March 2019 with the mandate of helping the federal government better understand and address the needs of those who live with chronic pain. The mounting numbers of surgical procedures coupled with growing healthcare expenditure will be driving the market growth in Canada.
Market Driving Factors
The rise in the rate of geriatric population, increasing incidence of chronic diseases, growing rate of accidental and sports injuries, growing public awareness are some of the major factors driving the pain management therapeutics market in Canada. The increasing incidences of chronic diseases such as cancer, diabetic neuropathy, and osteoarthritis and the rise in the number of surgical procedures also further accelerating the pain management therapeutics market growth. The growing awareness about the availability of medications, increasing the consumption and acceptance of pain management drugs owing to their high availability, easy access, high awareness, cost-effectiveness, and quick relief also influence the pain management therapeutics market.