Canada Pain Management Market Analysis

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  • Type: Therapeutics Area
  • Published : April 2021
  • Region: North America
  • Country: Canada
  • Report ID : 3016

  • Format: PPT, PDF

Canada Pain Management Therapeutics Market: Segmented by Indication (Chronic Back Pain, Neuropathic Pain, musculoskeletal pain, Cancer Pain, Postoperative Pain, Others), By Drug Class (Chronic Back Pain, Neuropathic Pain, musculoskeletal pain, Cancer Pain, Postoperative Pain, Others), and by Distribution Channel (Online Pharmacy, Hospitals Pharmacy, Retail Pharmacy) – Growth, Trends, and Forecasts (2019 – 2028)

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Report Overview

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.

 

 

 

1. Canada Pain Management Therapeutics Market Overview……………………………
A. Market Size
2. Market Driving Factors………………………………….……….…….
a. Rise in aging population
b. Increasing incidence of chronic diseases
c. Increase incidence of accidental and sports injuries
d. Growing public awareness
3. Major types of pain ……………………………………………………………………….
A. Arthritic Pain
B. Neuropathic Pain
C. Cancer Pain
D. Chronic Pain
E. Post-Operative Pain
K. Others
4. Pain Management Therapeutics Market Segmentation…………………………………
A. By Indication
a. Chronic Back Pain
b. Neuropathic Pain
c. Fibromyalgia
d. Arthritic Pain
e. Cancer Pain
f. Others
B. By Drug class
a. Anaesthetics
b. Antidepressants
c. Anticonvulsants
d. Non-steroidal Anti-inflammatory Drugs (NSAIDs)
e. Anti-migraine Agents
f. Others
C. By Distribution Channel
a. Online Pharmacy
b. Hospitals Pharmacy
c. Retail Pharmacy
5. Pain Management Major Products Market Share………………………………
A. Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape…………………………………………………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles………………………………………………………………….
A. Novartis AG Company overview, Product & Services, Strategies & Financials
B. Eli Lilly Company overview, Product & Services, Strategies & Financials
C. Abbott Laboratories Company overview, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape……………………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth…………………………………………………………
A. New Trends and Development of Pain Management market
B. Future Opportunities
10. Conclusion………………………………………………………………………………….

Market Segmentation

By Indication:

Based on the indication the pain management therapeutics is divided into Chronic Back Pain, Neuropathic Pain, Fibromyalgia, Arthritic Pain, Cancer Pain, Postoperative Pain, Migraine, Others. Among these, back pain is the most common problem faced by Canadians (about 35% of people suffer from this). Over 80% of people in Canada are experiencing at least one episode of back pain during their lifetime making it a leading reason for visiting a healthcare provider for musculoskeletal-related complaints.

By Drug Class:

Based on the Drug Class this market is classified into Anaesthetics, Antidepressants, Anticonvulsants, Non-steroidal Anti-inflammatory Drugs (NSAIDs), Anti-migraine Agents, Opioids, Non-narcotic Analgesics, and Others. The number of opioids being dispensed for pain in Canada has been fallen substantially in the past few years due to the rising number of cases of opioids overdose. Instead, they are going for more publicly funded treatments, such as physiotherapy and cognitive behavior therapy, and better access to pain-killing medication for those truly in need

By Distribution Channel:

Canada’s pain management market is segmented into Online Pharmacy, hospital pharmacies, and Retail Pharmacy based on the type of distribution channel.

 Major Players

The Major market players are exhausting advanced technology for the developing abuse-deterrent drugs due to the increase in the number of drug abuse cases in the region. Recently BioSynet launched Combogesic® which is a new and effective opioid-free treatment to support Canadian healthcare providers in acute pain management. Also, TERPACAN™, from Tetra Bio Pharma, has received Health Canada approval for over-the-counter (OTC) use in back and muscle pain, and in hemorrhoids. Major Players having their presence in this market includes Novartis AG, Eli Lilly & Company, Abbott Laboratories, Endo Health Solutions Inc., Pfizer Inc., etc.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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