The pain management therapeutics market has huge potential for growth due to the large population that is affected by medically significant pain. The market is growing at a moderate growth rate, driven by the cancer pain, low back pain and post-operative pain relief markets.
The cancer pain management market is expected to represent the fastest growing segment within the pain management therapeutics market, achieving sales of $7 billion by 2019.
According to a recent report, 'Pain Management Therapeutics Market to 2019,' 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%.
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%.
Pain management is a branch of medicine employing an interdisciplinary approach for easing the suffering and improving the quality of life of those living with pain. The typical pain management team includes medical practitioners, clinical psychologists, physiotherapists, occupational therapists, nurse practitioners, and clinical nurse specialists.
Using X-Ray, fluoroscopy and/or CT (computed tomography), radiologists perform a variety of image-guided interventional therapies.
Steroid medications can help reduce the inflammation to irritated nerves. Therapeutic injections also provide additional information regarding pain symptoms. With this information, physicians can establish an appropriate treatment plan.
A healthy pipeline will 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).
For more information on the pain management therapeutics market, see the latest research: Pain Management Therapeutics Market
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