North America held dominant position in the global pain management therapeutics market in 2020, accounting for 32.40% share in terms of volume, followed by Europe and Asia Pacific, respectively. Companies operating in North America are extensively engaged in R&D activities for developing new pain management drugs which can be attributed to the dominant position of the region in the market. For instance, January 2021, Concentric Analgesics, Inc., a clinical-stage biopharmaceutical company recently completed Phase 2 clinical trial of vocacapsaicin (CA-008), a first-in-class, non-opioid therapeutic with FDA Breakthrough Therapy Designation.
Pain Management Therapeutics Market Report Snapshots
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