August 6, 2013 I The cancer pain management market is expected to be the fastest growing segment within the global pain management therapeutics market, achieving sales of $7 billion by 2019, according to new analysis from business intelligence firm GBI Research.
The new report “Pain Management Therapeutics Market to 2019 – Impact of Patent Expiries Offset by Demand for Neuropathic and Rheumatoid Pain Medications and Strong Pipeline” states that the cancer pain management market will increase at a Compound Annual Growth Rate (CAGR) of 9.1% from 2012 to 2019, followed closely by the post-operative market boasting an estimated increase of 8% over the forecast period. It will also become the second largest segment of the overall pain management market, claiming 15%, while the neuropathic pain management market will continue to hold the largest share of 16%.
According to GBI Research, the growth of the cancer pain management sector will be driven by the increasing global prevalence of cancer, with drugs such as Fenota, Nucynta, Remoxy and Abstral leading the market.(Quote: Something including the number of people suffering with cancer pain globally / how much this is expected to increase by / the current unmet needs in the market.) The significant growth of this treatment area will help boost the growth of the overall pain management market, which GBI Research estimates will rise from $36 billion in 2012 to $49 billion in 2019, representing a CAGR of 4.6%.
A healthy pipeline will also contribute to climbing market revenue, with neuropathic pain being the key therapy area of R&D focus, followed by migraine pain, which currently claims 14% of the pipeline.Despite this level of activity, the overall pain management market will be prevented from growing any further due to the challenges posed by generic competition, which is expected to increase over the coming years following a series of patent expiries for top-selling drugs such as Cymbalta, Lyrica and Celebrex (celecoxib). However, GBI Research anticipates pain management therapeutics to remain attractive over the forecast period, thanks to its significant potential for expansion in the long term and current unmet needs in the market.
SOURCE: GBI Research
Post Views: 202
August 6, 2013 I The cancer pain management market is expected to be the fastest growing segment within the global pain management therapeutics market, achieving sales of $7 billion by 2019, according to new analysis from business intelligence firm GBI Research.
The new report “Pain Management Therapeutics Market to 2019 – Impact of Patent Expiries Offset by Demand for Neuropathic and Rheumatoid Pain Medications and Strong Pipeline” states that the cancer pain management market will increase at a Compound Annual Growth Rate (CAGR) of 9.1% from 2012 to 2019, followed closely by the post-operative market boasting an estimated increase of 8% over the forecast period. It will also become the second largest segment of the overall pain management market, claiming 15%, while the neuropathic pain management market will continue to hold the largest share of 16%.
According to GBI Research, the growth of the cancer pain management sector will be driven by the increasing global prevalence of cancer, with drugs such as Fenota, Nucynta, Remoxy and Abstral leading the market.(Quote: Something including the number of people suffering with cancer pain globally / how much this is expected to increase by / the current unmet needs in the market.) The significant growth of this treatment area will help boost the growth of the overall pain management market, which GBI Research estimates will rise from $36 billion in 2012 to $49 billion in 2019, representing a CAGR of 4.6%.
A healthy pipeline will also contribute to climbing market revenue, with neuropathic pain being the key therapy area of R&D focus, followed by migraine pain, which currently claims 14% of the pipeline.Despite this level of activity, the overall pain management market will be prevented from growing any further due to the challenges posed by generic competition, which is expected to increase over the coming years following a series of patent expiries for top-selling drugs such as Cymbalta, Lyrica and Celebrex (celecoxib). However, GBI Research anticipates pain management therapeutics to remain attractive over the forecast period, thanks to its significant potential for expansion in the long term and current unmet needs in the market.
SOURCE: GBI Research
Post Views: 202
