Global Pain Management Therapeutics Market to Exhibit -5.50% CAGR from 2012 to 2018 owing to Patent Expiry of Blockbuster Drugs28 Mar 2016
Transparency Market Research has published a new report on the global pain management therapeutics market. As per the report, the global pain management therapeutics market is expected to decline from US$40.9 bn in 2011 to US$29.5 bn by 2018.
Chronic pain is a very common health concern in all regions across the globe. Due to the ill effects of chronic pain, there has been an increase in the demand for pain management therapeutics. The global pain management therapeutics market offers many methods or therapies of pain management such as physiotherapy, minimally invasive procedures, and chiropractor therapy. Pharmaceuticals including analgesics and painkillers are the initial treatments commonly prescribed by physicians. This includes drugs that belong to therapeutic classes such as non-steroidal anti-inflammatory drugs, anticonvulsants, anti-migraine agents, opioids, and others.
While the global pain management therapeutics market is progressing considerably, it is expected to be affected by the expiry of blockbuster drugs. Patent expiry of blockbuster drugs including Cymbalta of Eli Lilly & Co. and Lyrica of Pfizer, Inc. was a major setback for the global pain management therapeutics market. The loss of market exclusiveness of blockbuster drugs has further reduced the revenue made in the global pain management therapeutics market. This has created an opportunity for generic drug manufacturers to take a step forward. Insufficiency in the discovery of novel drugs is expected to weaken the growth of the global pain management therapeutics market. In the years to come, manufacturers are expected to invest more funds in the production of novel drugs.
The global pain management therapeutics market is segmented on the basis of therapeutic class, indication, and geography. Based on therapeutic class, the global pain management market is classified into anticonvulsants, NSAIDs, opioids, anesthetics, antidepressants, anti-migraine agents, and other non-narcotic analgesics. In 2011, the NSAIDs segment dominated the global pain management therapeutics market owing to factors such as the rising incidence of diabetes and cancer.
Based on geography, the global pain management therapeutics market is divided into Europe, Asia Pacific, North America, and Rest of the Globe. In 2011, the North America pain management therapeutics market was valued at US$21.7 bn and is predicted to decline to US$14.3 bn by 2018. In terms of market attractiveness and growth, Asia Pacific and Rest of the World are predicted to be the fastest developing markets in the global pain management therapeutics market.
By indication, the global pain management therapeutics market is classified into neuropathic pain, fibromyalgia, arthritic pain, chronic back pain, cancer pain, migraine, and chronic back pain.
Some of the leading companies operating in the global pain management therapeutics market are Abbott Laboratories, Inc., Eli Lilly & Co., Johnson & Johnson, Pfizer, Inc., AstraZeneca PLC, Endo Health Solutions, Merck & Co., Inc., and Purdue Pharma LP.
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Key Segments of Global Pain Management Therapeutics Market
Pain Management Therapeutics Market, by Therapeutic Class
Other Non-Narcotic Analgesics (Acetaminophen)
Pain Management Therapeutics Market, by Indication
Arthritic Pain, by Type
Chronic Back Pain
Pain Management Therapeutics Market, by Geography
Rest of the World (RoW)
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