Pain Management Therapeutics Market - Global Industry Analysis 2012 - 2018
Pain Management Therapeutics Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018, the market research report by Transparency Market Research provides a comprehensive research on the global pain management therapeutics market. The report closely monitors and analyzes industry trends around the globe and provides insightful data on market size and market share – of the overall industry at macro level as well as specific categories at the micro level.
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According to the report, the global pain management therapeutics market is expected to experience a decline at a CAGR 5.5% during 2012 and 2018, the forecast period of the report. During this time, this market that valued approximately USD 40.93 billion in 2011, could end-up valuing somewhere near to USD 29.47 billion by 2018.
The descent of this industry in the said duration will be owing to the patent expirations of major revenue-earning drugs of the market from leading brands such as Pfizer, Inc. and Eli Lilly & Co.
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The report mentions that although there is a global rise in incidences of a number of diseases that commonly lead to chronic pain, such as cancer and diabetes for instance, the market is on the verge of a certain decline. This is due to patent expiration of the most popular drugs in the market.
A positive growth could have been easily observed if the market had other combination drugs or novel formulas in the pipeline; a lack of any such market improvements could further worsen the condition of the global pain management therapeutics market.
This report focuses on three segments of the global pain management therapeutics market – therapeutic classes of drugs, indications of pain and popular markets based on geographical segmentation.
Indication-wise, the market segment of non-steroidal anti-inflammatory drugs (NSAIDs) is currently the lead revenue generator of the market. This class of drugs encompasses some of the oldest known pain relief drugs such as ibuprofen, diclofenac and Aspirin. The class of non-narcotic analgesics consisting of over-the-counter (OTC) drugs such as Excedrin, Panadol and Tylenol is expected to grow at the highest CAGR of 3.1% during the period of forecast. The growth will result from the rise in intake of OTC drugs for overcoming common chronic pain such as body ache and headache.
The market for generic formulations, as compared to that of branded formulations, acquired the largest share of the global pain management therapeutics market in 2011. The market of branded pain relieving drugs was highly fragmented in 2011 as major brands such as Pfizer, Inc., Eli Lilly & Co., and Purdue Pharma LP acquired nearly 80% of the total global revenues.
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