Market Analysis - Pain Medicine 2017
Look at Market of Pain Medicine
The future level of worldwide spending on pharmaceuticals underscores the comparative difficulties of getting to and reasonableness which confront the individuals who expend and pay for social insurance around the globe. On the other hand, the quickly developing of Pharma markets will be driven overwhelmingly by financial picks up and rising salary, especially for the most minimal workers, combined with government responsibilities to bolster extended access to essential human services administrations, which will make pharmaceuticals all the more extensively accessible and reasonable to a large number of individuals. Created markets will represent 57% of aggregate spending, down from 73% in 2006. The measurement demonstrates the market estimation of over the counter torment alleviation items in the assembled states in 2013, by outlet sort. In that year, inner pain relieving fluid agony alleviation items that were sold at multi-outlets in the United States had a market estimation of 390.3 million U.S. dollars. From 2006-2010 the worldwide spending on solution were observed to be 658 (in billion dollars), 2011 the worldwide spending's on market has been expanded to 956 (in Billion dollars), while in future 2016 it is relied upon to be 1,205 (in Billion dollars) Pharma markets outperformed EU5 in absolute spending in 2010 and will achieve 30% of worldwide spending in 2016, as millions of more individuals access essential medications.
Torment keeps on speaking to major clinical, social and monetary difficulties. All around, 1.5 billion individuals experience the ill effects of direct to extreme ceaseless torment. Agony is the main source of handicap in the US, influencing 116 million grown-ups, more than coronary illness, malignancy and diabetes joined. The US yearly cost of perpetual torment ranges from a gigantic $560 to $635 billion.
Regardless of too many years of concentrated R&D exertion, commercialization of new items has been constrained. Current analgesics just give unassuming agony help, as often as possible convey discovery security notices and are vulnerable to mishandle. For sure, in the US, opioid manhandle is depicted as a fatal plague.
Lately, key blockbuster items OxyContin, Cymbalta, Celebrex, and Lidoderm have confronted patent misfortune. With Pfizer's Lyrica patent expiry approaching in 2018, the torment market will endure promoting nonspecific danger. By and by, the long-awaited landing of novel mishandles hindrance opioids and monoclonal antibodies, for example, NGF, CGRP, and IL-6 inhibitors will drive future market development.
Pain Therapeutic Solutions Market: Segmentation
The global pain therapeutic solutions market is segmented based on, devices, drugs, disease conditions, and, end users.
Based on Devices, the global pain therapeutic solutions market is segmented into the following:
§ Electrical Stimulation Devices (ESDs)
§ Radiofrequency (RF) Ablation Devices
§ Analgesic Infusion Pumps
§ Neurostimulation Devices
§ Spinal Cord Stimulators
Based on Drugs, the global pain therapeutic solutions market is segmented into the following:
§ Narcotics Painkiller
§ Non-Narcotic Analgesics
§ Nonsteroidal Anti-Inflammatory Drug (NSAID)
§ Muscle Relaxants
§ Anti-Anxiety Drugs
§ Others (anticonvulsant, antidepressants, corticosteroids)
Based on Disease Condition, the global pain medicine market is segmented into the following:
§ Cancer Pain
§ Trauma or Injury
§ Surgical Pain
§ Pain Arising from diseases
§ Terminal Conditions
§ Neuropathic Pain
§ Others (Diarrhea, Cough)
Based on End-Use, the global pain therapeutic solutions market is segmented into the following:
§ Ambulatory Surgical Centers
This in-depth, quality report delivers:
• Analysis of seven major painful conditions examining epidemiology in the seven major markets, therapeutic management overview, unmet needs and clinical/commercial pipeline analysis of each condition to maximize your product’s commercial success
• Identification of the major challenges within pain R&D including unmet needs, clinical trial design, alternative R&D approaches, potential pain biomarkers, animal pain models, functional imaging techniques and regulatory hurdles
• An assessment of the financial pain market with forecasts to 2020 for over 70 leading branded analgesic products and key pipeline candidates
The pain medicine market is crowded and heavily genericized. In 2015, the leading branded pain medicine market is worth $11.3 billion, down 13.5% from 2014 total revenues of $13.1 billion.
Opioids form the backbone of pain management. This trend is set to continue over the coming years thanks to their continued superior analgesic activity. Physicians should become increasingly more confident in prescribing opioids due to the arrival of abuse-deterrent formulations. By 2020, the leading branded opioids will generate over $6.6 billion in worldwide revenues.
Pain R&D is challenging, expensive and reliant on subjective outcome measures. Therefore, the industry must revise their R&D strategies to gain success in this market. The FDA's 2014 Draft Guidance for Industry Analgesic Indications: Developing Drug and Biological Products should provide some clarity for pain developers, as this was indeed the first guidance update in over 20 years.
Global Pain Medicine Market, Trends, and R&D Insights:
• Assess opportunities and challenges influencing strategic pain R&D
• Identify leading branded pain medicines and key pipeline candidates in late-stage development based on sales forecasts to 2020 to maximize your product commercial potential
• Gain an impartial perspective of strategies that can be used to enhance your products performance in the pain market
Pain Medicine Solutions Market: Overview
Based on devices type, the global pain therapeutics market is segmented into, electrical stimulation devices (ESDs), radiofrequency (RF) ablation devices, analgesic infusion pumps, neurostimulation devices and spinal cord stimulators. RF ablation devices and electrical stimulation devices would collectively hold the largest market share in terms of revenue in 2015. Based on drug type, the global pain therapeutics market is segmented into, narcotics painkiller, non-narcotic analgesics, Nonsteroidal Anti-Inflammatory Drug (NSAID), muscle relaxants, anti-anxiety drugs and others. Non-narcotic analgesics, Nonsteroidal Anti-Inflammatory Drug (NSAID) are the leading market segment owing to its low cost and easy availability. Based on disease conditions, the global pain therapeutics market is segmented into, cancer pain, trauma or injury, surgical pain, anesthesia, pain arising from diseases, terminal conditions, neuropathic pain and others. Cancer pain, trauma or injury pain would be the leading segment throughout the analysis period, owing to increased incidence of cancer and accidental injuries respectively.
Pain Medicine Solutions Market: Region-wise Outlook:
Based on geography, the global pain therapeutics market is segmented into North America, Europe, Asia-Pacific, and MEA. North America and Europe would be the highest revenue generating region in 2014, owing to high awareness for pain management and palliative care and favorable reimbursement policies for post-operative treatment. However, Asia Pacific is expected to exhibit faster growth rate, owing to a large consumer based seeking for pain management, and reformed regulatory guidelines for the commercial used of pain management drugs.
Pain Medicine Solutions Market: Key Players
Key companies operating in pain management devices market are Baxter International Inc., Bio-Medical Research (BMR) Ltd., Boston Scientific Corporation, Halyard Health, Hospira, Inc., Medtronic plc, St. Jude Medical, Smiths Medical, and Stryker Corporation. Key companies operating in pain management drug market are Pfizer Inc., Purdue Pharma, Boehringer Ingelheim, Janssen Pharmaceuticals, Inc., Actavis Plc., Sanofi, Sun Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, Endo Pharmaceuticals Inc. and Egalet.
The report covers exhaustive analysis on:
§ Market Segments
§ Market Dynamics
§ Market Size
§ Supply & Demand
§ Current Trends/Issues/Challenges
§ Competition & Companies involved
§ Value Chain
Regional analysis includes
§ North America (U.S., Canada)
§ Latin America (Mexico, Brazil)
§ Western Europe (Germany, France, U.K, Spain and Rest of Western Europe)
§ Eastern Europe (Russia, and, Rest Of Eastern Europe)
§ Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
§ Middle East and Africa (GCC, S. Africa, Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
§ Detailed overview of parent market
§ Changing market dynamics in the industry
§ In-depth market segmentation
§ Historical, current and projected market size in terms of volume and value
§ Recent industry trends and developments
§ Competitive landscape
§ Strategies of key players and products offered
§ Potential and niche segments, geographical regions exhibiting promising growth
§ A neutral perspective on market performance
§ Must-have information for market players to sustain and enhance their market footprint.