The Painkillers Market Will Reach $68.2 Bn in 2014, According to a New Study on ASDReports

Wednesday 12 November 2014, Amsterdam

A new report, now available on ASDReports, calculates that the world market for drugs to relieve pain will reach $68,250m in 2014 with revenues showing growth to 2024. That revenue forecast and others appear in the latest report Pain Relieving Drugs Market Forecast 2014-2024: Future Prospects For Leading Companies.

The emergence of promising drug candidates and innovative technologies over the last decade has helped the pain relieving drugs market to achieve substantial growth. The development of new drugs, reformulations of existing products, and the advancements being made in drug delivery technologies will help to stimulate the market for pain relieving drugs over the next decade. The pain relieving drugs market comprises of many drugs classed into various categories. These include narcotics such as Oxycontin ER, Duragesic, and Ultram, and drugs for neuropathic pain such as Lyrica, Cymbalta, and Nucynta. Also included in this market are anti-migraine drugs such as Axert and Relpax, and anti-arthritis drugs such as Humira, Enbrel, and Voltaren.

Moses Akintomide-Akinwamide, a senior pharmaceutical and medical technology market analyst comments: “The rising incidence and prevalence of pain episodes in the increasingly ageing global population is a factor contributing to the growth of the pain relieving drugs market. However, the side effect profiles of pain relieving drugs - such as the cardiac side effects which have been reported for Celebrex – means that stringent monitoring is required for some drugs during their use. Gastrointestinal side effects such as oesophageal, gastric and duodenal ulceration which is associated with many non-steroidal anti-inflammatory drugs (NSAIDS) may act as a restraint to growth in the market. The tolerance and dependence issues which are notoriously associated with opioid pain relieving drugs in particular may also act to hinder growth in the market over the next decade. However, the leading anti-arthritic biologics will continue to generate high revenues despite the expiry of some of their patents as the expected slow uptake of biosimilars means that these expiries will impact less on the sales of these biologics over the next decade.”

The reforms in some sectors of the pain relieving drugs market, like narcotics, offer growth opportunities. “New reformulated tamper-resistant versions of top sellers such as Oxycontin and Opana ER are being developed and introduced into the market. These measures should allay the fears of physicians who have been reluctant to prescribe these drugs, especially in high doses”, Moses added.

The 323 page report provides revenue forecasts to 2024 for the global pain relieving drugs market and its leading regional markets. The new study includes OTC (over-the counter) and Rx (prescription) pain relieving medicines.  It forecasts sales in 13 leading markets, the US, Japan, Germany, France, Italy, Spain, UK, China, India, Russia, Brazil, South Korea, and Turkey. The report also forecasts sales for subsectors of the pain relieving drugs market. These include the anti-arthritic, narcotic, neuropathic, anti-migraine, and non-narcotic segments of the market. Analysis and forecasts for key marketed products in each of these segments are provided together with profiles and analysis of products in the development pipeline. The new investigation predicts revenues of 28 leading drugs in the painkillers market, including Oxycontin ER, Panadol, Lyrica and Zomig. Research, data and analyses cover activities of Pfizer, GSK, Johnson and Johnson, Bristol-Myers Squibb and other pharmaceutical companies.

The report also includes analysis of strengths, weaknesses, opportunities and threats to the market, an analysis of the social, technological, economical, and political factors that will influence the market, together with interviews with key opinion leaders in the industry sharing their views on current market trends and the unmet needs in the market.

Pain Relieving Drugs Market Forecast 2014-2024: Future Prospects For Leading Companies adds to the extensive range of analytical reports on industries and markets in healthcare.