DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "World Pain Management Therapeutics Market - Opportunities and Forecasts, 2014 - 2022" report to their offering.
The global pain management therapeutics market is segmented into different categories, namely NSAIDs, Anesthetics, Anticonvulsants, Anti-Migraine Agents, Antidepressants, Opioids and Non-Narcotic Analgesics. Non-steroidal anti-inflammatory drugs are the largest selling in the drug class due to shifting from prescription to over the counter (OTC) drugs such as, aspirin, diclofenac and ibuprofen, which are popular among the masses. Opioids are the second largest market in this segment due to its high efficacy to relieve pain in major chronic conditions where NSAIDs fails to show desired therapeutic response.
High prevalence of chronic pain disorders, favorable regulatory framework and effective treatment options are the important drivers inflecting the growth of the market. Despite of these conditions, the pain management therapeutics market is anticipated to witness a decline, globally during the forecast period owing to patent expiration of the major best-seller drugs such as pregabalin and duloxetine by Pfizer and Eli Lilly & Co., respectively.
The off patenting of these major brands will encourage generic manufacturers to launch their own versions of these brands. Additionally, lack of novel therapeutics for pain management would be the contributing factor to the falling market. Novel drug delivery systems and generic medicines would be the factors that could boost the growth of this market.
The key players within global pain management therapeutics market include Pfizer, Inc., Endo Health Solutions, Johnson & Johnson, Eli Lilly & Co., Purdue Pharma L.P., and AstraZeneca PLC.
Big leaders such as Pfizer and Eli Lilly & Co. would witness a decline in revenue streams during the forecast period due to patent expiration of its major brands. Global pain management therapeutics market would witness a soaring competition in upcoming years due to entry of large number of generic manufacturers.
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