San Jose, CA (Vocus) October 11, 2010
Pain therapeutics, despite enhancements is yet to reach its zenith. With treatment of pain increasingly becoming multidisciplinary, pain clinics are being established that offer both conventional as well as alternative treatment modalities. Analgesics are drugs offering relief from pain. The analgesics market is one of the largest segments of the healthcare industry. The global economic turmoil that adversely impacted almost every industry had relatively minimal impact on the analgesics market. The market is mainly driven by increasing popularity of the therapeutic benefits of effective pain treatment, including reductions in healing and recovery time. Additionally, growing geriatric population creates a lucrative opportunity for products such as analgesics, and sports medicine.
The United States represents the largest market worldwide, as stated by the new market research report on Analgesics. Ageing population represents the key growth driver for the US chronic and acute pain management therapies market. The opioid and non-opioid pain management pharmaceuticals market holds immense potential due to significant unmet medical requirements in the pain treatment segment in the US. Europe, the other principal market, is set to witness an upsurge in sales, aided by new product introductions. An increase in life expectancy, better treatment and increasing consumer awareness are likely to propel future growth. Growth-wise, Asia-Pacific is projected to be the fastest growing regional market for analgesics, with a CAGR of more than 4.0% over the analysis period.
Internal Analgesics dominates the world analgesics market. Among internal analgesics, acetaminophen represents the largest product segment. On the other hand, External Analgesics is poised to flaunt a CAGR of more than 2.0% over the analysis period.
Topical analgesics market is growing at a robust growth rate, presenting immense opportunities to the pharmacists. Introduction of wide range of new products and increased advertising of the leading brands are driving growth in the topical analgesics market. Launch of newer topical analgesics products has broadened the choice for the customers. Topical analgesics emerge as a safe and convenient alternative for customers who do not prefer oral NSAIDs for treating stiffness or pain of the muscles. Another potential area of treatment includes neuropathic pain. A myriad of successful pain relieving drugs have existed for several years in different sectors of the market. However, the neuropathic pain segment remains unexplored. Approximately 3-4.5% of global population suffers from neuropathic pain, with incidence rate increasing with age. While effective therapies are available for pain that originate from the peripheral nervous system, patients suffering from chronic neuropathy pain continue to find minimal relief. This in part is a result of non-existence of any significant development in the field of pharmacologic therapies over the past 50 years, despite higher incidence of pain among individuals.
Major players profiled in the report include Bayer Consumer Care, Johnson & Johnson, McNeil Consumer Healthcare, Novartis International AG, Pfizer Inc., Reckitt Benckiser Group Plc, and Sanofi Aventis S.A.
The report titled “Analgesics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the analgesics markets, current market trends, key growth drivers, competitive scenario, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Analgesics market for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key segments and sub-segments analyzed include Internal Analgesics (Aspirin, Acetaminophen, Ibuprofen and Others) and External Analgesics. Also, a six-year (2001-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Analgesics_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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