Pain-Management Market Projected to Grow to $60 Billion
Industry analysts estimate that more than 1.5 billion people around the world suffer from chronic pain, making it the number one reason patients seek medical care. In fact, studies have shown that pain leads to more than 50 million lost workdays each year. The cost of pain, including medical bills and lost workdays, is estimated at $100 billion per year.
The U.S. market for pain-management therapeutics is estimated to generate more than $40 billion and is predicted to grow to $60 billion by 2015. This market includes treatments for a wide range of conditions including postoperative pain, cancer pain, arthritis pain, migraine pain, neuropathic pain, and back pain. This medical segment consists of products such as opioids, nonsteroidal anti-inflammatory drugs, acetaminophen, local anesthetics, tricyclic antidepressants, anticonvulsants, patient-controlled dosing, implants, and electrical stimulation.
Many pain medications, while effective, cause unwanted side effects. Opioids, the largest pain-therapy class, are widely known to cause a number of side effects such as nausea, vomiting, constipation, and somnolence. They can also cause severe respiratory depression. Nonsteroidal anti-inflammatory drugs (NSAIDs) have been shown to cause gastrointestinal upset, kidney and liver damage, and they can increase cardiovascular risks.
A higher demand for more efficient drugs, delivery systems, and medical devices for pain treatment is driving the pain-management market. The need to address acute and chronic pain will rise alongside an increasingly aging population. Other factors affecting the future of the pain-management segment include a growing number of surgical procedures being performed, changing lifestyles, and increasing incidences of cancer.
Providing solutions for pain prevention and treatment continues to garner the attention of R&D managers and other industry executives. Accordingly, potential new blockbuster drugs are expected to penetrate the market including Remoxy, an oxycodone drug that is meant to be more abuse-resistant than OxyContin.
More information is available in Pain Management Review and Outlook 2011, available at www.pharmalive.com/special_reports <http://www.pharmalive.com/special_reports>
For additional information, contact Sandra Baker at +1-215-944-9836 or Sandra.Baker@ubm.com <mailto:Sandra.Baker@ubm.com> .
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