Aging Population, Changing Lifestyles, and the Launch of New Drugs Drives the Global Pain Management Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on the Pain Management markets. The global market for Pain Management is forecast to reach US$77 billion by the year 2017, driven by the growing demand for efficient medical devices and drugs for pain treatment. Additionally, growth in the marketplace is also expected to stem from increasing aged population and absence of a full-fledged Pain Management therapy. Also, introduction of novel and effective therapies in opioid and non-opioid pharmaceutical sectors is expected to bode well for the future growth prospects of the Pain Management market. Other growth drivers include rise in cancer patients; changing lifestyle that brings common pains such as back pain, and repetitive strain injuries; continuous increase in the number of surgical procedures; and the introduction of new products.

Pain Management: A Global Strategic Business Report

Follow us on LinkedIn – Currently, more than 1.5 billion people worldwide suffer from chronic pain of varying degrees. With increasing aged population and absence of a full-fledged pain management therapy, demand for better pain management therapies, addressing acute and chronic pain, is on the rise. The varied products used for pain management include non-steroidal anti-inflammatory drugs (NSAIDs), local anesthetics, anticonvulsants, opioids, acetaminophen, tricyclic antidepressants, patient-controlled dosing, electrical stimulation as well as implants. Pain management therapeutics market is characterized by regular developments and discoveries of new drugs, addressing pain related health ailment issues, such as neuropathic pain, psychogenic pain, post-surgical pain, headache, backache, AIDS, and cancer. Moreover, higher demand for more efficient medical devices for pain treatment, and drugs continue to drive the pain management market.

The pain management business constitutes a major segment of the pharmaceutical industry. Pain management market is impacted by several factors, including emergence of pain management clinics, availability of generic versions of branded analgesics, and introduction of new drugs into the marketplace. Patent expiries of several leading NSAID drugs have created new opportunities for generic drugs to foray into the pain management market. The emergence of pain management clinics has critically impacted the overall pain management market worldwide. The market shows considerable growth prospects, regardless of the generic incursion for major products in the global market.

Presently, Lyrica, an anti-convulsant, and Cymbalta, an anti-depressant drug, are the significant drugs in the pain management market. With increasing incidences of pain arising from various conditions, the demand for pain management drugs is increasing, specifically in the developing nations. Safety and side effects are the major challenges confronted by drug developers. New compounds exhibiting high levels of efficacy and safety are likely to garner significant growth and capture a sizeable share of the market in the years to follow.

The US represents the largest regional market for pain management worldwide, followed by Europe, as stated by the new market research report on Pain Management. The US market for chronic and acute pain management therapies is currently driven by increasing aging population. The opioid and non-opioid pain management pharmaceuticals market holds immense potential due to the significant unmet medical needs in the pain treatment segment, along with the recall of Bextra and Vioxx. However, growth in the market would be led by Asia-Pacific, which is projected to be the fastest growing regional market during the 2009-2017 period. With increasing incidence of pain arising from various conditions, the demand for pain management drugs is increasing in the developing nations. Latin America is projected to post a compounded annual growth rate of close to 8.8% during the analysis period. Segment-wise, Pain Management Drugs represent the largest segment, while Pain Management Services constitute the fastest growing segment worldwide.

Dynamics of the pain management drugs market witnessed significant changes in the recent years. The failure of several drugs, considered initially as promising, including the recent unsuccessful COX-2 inhibitors, prompted manufacturers and researchers to undertake many research programs. Meanwhile, failure of COX-2 inhibitors led to a significant decline in R&D in COX-2 class and encouraged pharmaceutical companies to concentrate on other new targets. A considerable success is witnessed in the larger pharmaceutical companies employing genomic technologies in their research programs.

Major players profiled in the report include AstraZeneca Plc., Eli Lilly and Company, Endo Pharmaceuticals, GlaxoSmithkline Plc., Johnson & Johnson, Merck & Co. Inc., Novartis, Pfizer Inc., Wyeth Inc., Sanofi, Purdue Pharma, among others.

The research report titled “Pain Management: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the pain management market, current market trends, key growth drivers, overview of the major drug classes, insight into current leading and pipeline drugs, new product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for the pain management market for years 2009 through 2017 by the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Pain_Management_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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